Funding you earn now, next payment 22:00 UTC−0.0507%/8h= −55.5% APRpaid last 24h −0.064%
Price spread now: BloFin against Backpack−0.152%67s7-day average −0.058% · you buy dearer than you sell
Net, funding: paid 7d − costs−$54as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$460.464% of the position
Funding, last 7 days−0.072%−$7 on $10k
+Price spread, last 3 days (all we have)+1.235%+$124 · spread now −0.152%, 7d avg −0.058%
=Both sides work against this trade now: funding costs −$15 a day on $10k at the current rate, and BloFin is 0.094% cheaper against Backpack than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of −0.058%). Swap the legs. The two prices were read 67 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.072% in total (about -3.7% 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 | 0.2237 | 0.0529 | pay 0.0066% / 1h | 40m 09s | $1.1M | $2.8M | 20x |
| Short | BloFin ARB-USDT | 0.2233 | 0.0022 | get 0.0022% / 8h | 2h 40m | $3.0M | $3.3M | 75x |
Backpack ARB_USDC_PERP
BloFin ARB-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BloFin against Backpack. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$106.44
- Price spread: −0.152% → −0.058%
- −$9.42
- Slippage, 4 orders
- −$24.42
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee BloFin: 6 bp × 2 orders
- −$12
- Net
- −$162.28
- Costs to cover
- 0.464%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 4 min ago; BloFin: live order book, 3 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, 4 min ago | 1.57 bp | 9.0 bp −$9 | doesn't fit | doesn't fit | doesn't fit |
| Sell BloFin live order book, 3 min ago | 1.12 bp | 12.6 bp −$13 | 31.7 bp −$317 | doesn't fit | 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 | −0.1675% | 1h | 0.2219 | −0.800% | $40K | $107K | 12x | as long as short |
| 01 Exchange ARBUSD | −0.0344% | 1h | 0.2232 | −0.206% | $7K | $2K | 10x | as long as short |
| Bybit ARBUSDT | −0.0223% | 8h | 0.2233 | −0.188% | $57.0M | $135.9M | 50x | as long as short |
| Deribit ARB_USDC-PERPETUAL | −0.0198% | 1h | 0.2233 | −0.156% | $37K | $18K | 25x | as long as short |
| Variational Omni ARB | −0.0184% | 8h | 0.2232 | −0.212% | $1.9M | $2.8M | — | as long as short |
| OKX ARB-USDT-SWAP | −0.0067% | 8h | 0.2233 | −0.183% | $22.2M | $165.6M | 50x | as long as short |
| MEXC ARB_USDT | −0.0066% | 8h | 0.2233 | −0.188% | $37.7M | $63.3M | 200x | as long as short |
| SoDEX ARB-USD | −0.0057% | 1h | 0.2232 | −0.206% | $4K | $2.9M | 5x | as long as short |
| Kraken Futures PF_ARBUSD | −0.0053% | 1h | 0.2234 | −0.122% | $1.1M | $5.3M | 50x | as long as short |
| ApeX Omni ARBUSDT | −0.0011% | 1h | 0.2222 | −0.666% | $120K | $297K | 50x | as long as short |
Injective ARB/USDC PERP
01 Exchange ARBUSD
Bybit ARBUSDT
Deribit ARB_USDC-PERPETUAL
Variational Omni ARB
OKX ARB-USDT-SWAP
MEXC ARB_USDT
SoDEX ARB-USD
Kraken Futures PF_ARBUSD
ApeX Omni ARBUSDTShow all 36 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Orderly PERP_ARB_USDC | −0.0010% | 8h | 0.2233 | −0.174% | $11K | $386K | 10x | as long as short |
| Polymarket Perps ARB-USD | −0.0002% | 1h | 0.2234 | −0.148% | $77K | $2.3M | 10x | as long as short |
| dYdX ARB-USD | 0.0000% | 1h | 0.2236 | −0.055% | $66K | $4K | 10x | as long as short |
| gTrade (Gains Network) ARB/USD | L +0.0005% / S −0.0005% | 1h | 0.2235 | −0.094% | $55K | — | 150x | as long as short |
| Binance ARBUSDT | +0.0005% | 8h | 0.2233 | −0.174% | $63.6M | $326.2M | 75x | as long as short |
| Extended ARB-USD | +0.0008% | 1h | 0.2232 | −0.241% | $355K | $2.5M | 25x | as long as short |
| Gate ARB_USDT | +0.0019% | 8h | 0.2234 | −0.139% | $5.5M | $21.5M | 60x | as long as short |
| BloFin ARB-USDTshort | +0.0022% | 8h | 0.2233 | −0.152% | $3.0M | $3.3M | 75x | |
| Aevo ARB-PERP | +0.0080% | 1h | 0.2234 | −0.130% | $146K | $12K | 3x | as long as short |
| BingX ARB-USDC | +0.0083% | 8h | 0.2233 | −0.152% | — | $6.5M | — | as long as short |
| Bitget ARBUSDT | +0.0084% | 8h | 0.2233 | −0.174% | $21.0M | $38.9M | 50x | as long as short |
| Lighter ARB | +0.0096% | 1h | 0.2234 | −0.130% | $1.3M | $7.7M | 15x | as long as short |
| Hyperliquid ARB | +0.0100% | 1h | 0.2237 | 0.000% | $40.1M | $53.3M | 10x | as long as short |
| Aster ARBUSDT | +0.0100% | 8h | 0.2234 | −0.110% | $695K | $1.8M | 20x | as long as short |
| Pacifica ARB | +0.0100% | 1h | 0.2236 | −0.057% | $46K | $207K | 10x | as long as short |
| KuCoin ARBUSDTM | +0.0100% | 8h | 0.2235 | −0.103% | $20.7M | $17.1M | 75x | as long as short |
| edgeX ARBUSDC | +0.0100% | 4h | 0.2221 | −0.690% | $38K | $451K | 20x | as long as short |
| GRVT ARB_USDT_Perp | +0.0100% | 8h | 0.2222 | −0.648% | $477K | $4.2M | 10x | as long as short |
| SunX ARB-USDT | +0.0100% | 8h | 0.2235 | −0.085% | $2K | $1.1M | 30x | as long as short |
| HTX ARB-USDT | +0.0100% | 8h | 0.2234 | −0.139% | $275K | $1.2M | 50x | as long as short |
| Phemex ARBUSDT | +0.0100% | 8h | 0.2232 | −0.219% | $5.4M | $13.8M | 50x | as long as short |
| GMX ARB/USD [ARB-USDC] | L +0.0276% / S −0.0168% | 1h | 0.2235 | −0.105% | $819K | — | 150x | as long as short |
| Coinbase International ARB-PERP-INTX | +0.0288% | 1h | 0.2235 | −0.085% | $507K | $2.5M | 50x | as long as short |
| Reya ARBRUSDPERP | +0.0291% | 1h | 0.2232 | −0.199% | $2K | $695 | 20x | as long as short |
| Backpack ARB_USDC_PERPlong | +0.0529% | 1h | 0.2237 | long leg | $1.1M | $2.8M | 20x | |
| RISEx ARB/USDC | +0.0546% | 1h | 0.2235 | −0.089% | $490K | $2.9M | 10x | as long as short |
Orderly PERP_ARB_USDC
Polymarket Perps ARB-USD
dYdX ARB-USD
gTrade (Gains Network) ARB/USD
Binance ARBUSDT
Extended ARB-USD
Gate ARB_USDT
Aevo ARB-PERP
BingX ARB-USDC
Bitget ARBUSDT
Lighter ARB
Hyperliquid ARB
Aster ARBUSDT
Pacifica ARB
KuCoin ARBUSDTM
edgeX ARBUSDC
GRVT ARB_USDT_Perp
SunX ARB-USDT
HTX ARB-USDT
Phemex ARBUSDT
GMX ARB/USD [ARB-USDC]
Coinbase International ARB-PERP-INTX
Reya ARBRUSDPERP
RISEx ARB/USDC