Funding arb · Price arb /

ARB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0507%/8h= −55.5% APRpaid last 24h −0.137%

Price spread now: Binance against Backpack−0.029%7-day average −0.912% · you buy dearer than you sell

Net, funding: paid 7d − costs−$65as in the Funding arb table

Net, price: spread back to 7d avg − costs+$52as in the Price arb table

costs, in and out, $10k−$360.361% of the position

Long on Backpack Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.290%−$29 on $10k

Price spread, last 7 days−2.542%−$254 · spread now −0.029%, 7d avg −0.912%

Together, before fees−2.832%−$283 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Binance is 0.883% dearer against Backpack than usual: you sell high and buy low (spread −0.029% now, against its 7-day average of −0.912%): +$88 on $10k if it goes back. Holding the pair costs −$15 a day in funding at the current rate, which eats that in about 5.8 days. At the pace of the last 7 days (−0.290% in total) that is about 21 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.290% in total (about -15.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack ARB_USDC_PERP	0.2173	0.0568	pay 0.0071% / 1h	8m 50s	$975K	$2.8M	20x
Short	Binance ARBUSDT	0.2173	0.0061	get 0.0061% / 8h	3h 08m	$63.4M	$299.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Backpack. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BackpackbpFee BinancebpOrdersPrice spread, now −0.029%Rate

Funding earned: −$106.42
Price spread: −0.029% → −0.912%: $88.32
Slippage, 4 orders: −$16.1
Fee Backpack: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$54.2
Costs to cover: 0.361%
Break-even: from the start

Slippage from Backpack: live order book, just now; Binance: live order book, 5 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Backpack live order book, just now	2.76 bp	8.9 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 5 min ago	0.23 bp	8.0 bp −$8	17.1 bp −$171	68.6 bp −$6,860	doesn't fit

ARB on 36 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective ARB/USDC PERP	−0.1589%	1h	0.2161	−0.571%	$39K	$372K	12x	as long as short
Polymarket Perps ARB-USD	−0.0181%	1h	0.2179	+0.271%	$71K	$2.1M	10x	as long as short
OKX ARB-USDT-SWAP	−0.0101%	8h	0.2170	−0.143%	$21.7M	$141.4M	50x	as long as short
MEXC ARB_USDT	−0.0100%	8h	0.2170	−0.133%	$41.1M	$61.0M	200x	as long as short
Variational Omni ARB	−0.0091%	8h	0.2182	+0.379%	$1.8M	$3.0M	—	as long as short
Orderly PERP_ARB_USDC	−0.0063%	8h	0.2173	−0.018%	$12K	$408K	10x	as long as short
Kraken Futures PF_ARBUSD	−0.0051%	1h	0.2173	−0.011%	$1.0M	$4.4M	50x	as long as short
Bybit ARBUSDT	−0.0050%	8h	0.2170	−0.133%	$54.4M	$123.7M	50x	as long as short
01 Exchange ARBUSD	−0.0024%	1h	0.2180	+0.285%	$7K	$1K	10x	as long as short
dYdX ARB-USD	0.0000%	1h	0.2181	+0.364%	$65K	$5K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit ARB_USDC-PERPETUAL	0.0000%	1h	0.2173	−0.028%	$24K	$31K	25x	as long as short
gTrade (Gains Network) ARB/USD	L +0.0005% / S −0.0008%	1h	0.2171	−0.104%	$45K	—	150x	as long as short
Gate ARB_USDT	+0.0010%	8h	0.2172	−0.064%	$5.3M	$18.2M	60x	as long as short
Bitget ARBUSDT	+0.0051%	8h	0.2170	−0.156%	$20.7M	$34.0M	50x	as long as short
BingX ARB-USDC	+0.0053%	8h	0.2171	−0.101%	—	$6.5M	—	as long as short
Binance ARBUSDTshort	+0.0061%	8h	0.2173	−0.029%	$63.4M	$299.2M	75x
Extended ARB-USD	+0.0064%	1h	0.2170	−0.134%	$346K	$2.1M	25x	as long as short
Lighter ARB	+0.0096%	1h	0.2172	−0.069%	$1.2M	$5.5M	15x	as long as short
Aevo ARB-PERP	+0.0096%	1h	0.2173	−0.016%	$138K	$7K	3x	as long as short
Hyperliquid ARB	+0.0100%	1h	0.2171	−0.120%	$36.8M	$48.6M	10x	as long as short
Aster ARBUSDT	+0.0100%	8h	0.2173	−0.029%	$626K	$1.6M	20x	as long as short
Pacifica ARB	+0.0100%	1h	0.2180	+0.311%	$42K	$160K	10x	as long as short
KuCoin ARBUSDTM	+0.0100%	8h	0.2172	−0.074%	$19.4M	$14.5M	75x	as long as short
edgeX ARBUSDC	+0.0100%	4h	0.2189	+0.738%	$38K	$461K	20x	as long as short
GRVT ARB_USDT_Perp	+0.0100%	8h	0.2190	+0.774%	$468K	$3.5M	10x	as long as short
ApeX Omni ARBUSDT	+0.0100%	1h	0.2188	+0.672%	$118K	$283K	50x	as long as short
SunX ARB-USDT	+0.0100%	8h	0.2174	+0.028%	$2K	$1.1M	30x	as long as short
SoDEX ARB-USD	+0.0100%	1h	0.2171	−0.097%	$10K	$2.2M	5x	as long as short
HTX ARB-USDT	+0.0100%	8h	0.2172	−0.069%	$294K	$885K	50x	as long as short
Phemex ARBUSDT	+0.0100%	8h	0.2173	−0.018%	$4.9M	$12.8M	50x	as long as short
RISEx ARB/USDC	+0.0118%	1h	0.2180	+0.323%	$442K	$2.6M	10x	as long as short
BloFin ARB-USDT	+0.0181%	8h	0.2173	−0.014%	$3.0M	$2.5M	75x	as long as short
Coinbase International ARB-PERP-INTX	+0.0256%	1h	0.2174	+0.014%	$497K	$1.6M	50x	as long as short
GMX ARB/USD [ARB-USDC]	L +0.0276% / S −0.0158%	1h	0.2170	−0.154%	$823K	—	150x	as long as short
Reya ARBRUSDPERP	+0.0289%	1h	0.2169	−0.202%	$2K	$695	20x	as long as short
Backpack ARB_USDC_PERPlong	+0.0568%	1h	0.2173	long leg	$975K	$2.8M	20x