Funding you earn now, next payment 23:00 UTC−0.0761%/8h= −83.4% APRpaid last 24h −0.084%
Price spread now: Bybit against Backpack−0.246%45s7-day average −0.934% · you buy dearer than you sell
Net, funding: paid 7d − costs−$60as 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−$380.384% of the position
Funding, last 7 days−0.217%−$22 on $10k
+Price spread, last 7 days+0.395%+$39 · spread now −0.246%, 7d avg −0.934%
=The price spread pays, funding is against you. Bybit is 0.689% dearer against Backpack than usual: you sell high and buy low (spread −0.246% now, against its 7-day average of −0.934%): +$69 on $10k if it goes back. Holding the pair costs −$23 a day in funding at the current rate, which eats that in about 3.0 days. At the pace of the last 7 days (−0.217% in total) that is about 22 days. The two prices were read 45 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 -0.217% in total (about -11.3% 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 | 0.0615 | pay 0.0077% / 1h | 24m 25s | $1.1M | $2.7M | 20x |
| Short | Bybit ARBUSDT | 0.2232 | −0.0146 | pay 0.0146% / 8h | 1h 24m | $57.6M | $133.6M | 50x |
Backpack ARB_USDC_PERP
Bybit ARBUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit 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
- −$159.85
- Price spread: −0.246% → −0.934%
- $68.86
- Slippage, 4 orders
- −$17.36
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$129.35
- Costs to cover
- 0.384%
- Break-even
- from the start
Slippage from Backpack: live order book, 5 min ago; Bybit: 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, 5 min ago | 1.56 bp | 10.4 bp −$10 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bybit live order book, 5 min ago | 0.22 bp | 9.2 bp −$9 | 20.5 bp −$205 | 53.8 bp −$5,384 | 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 | −0.1770% | 1h | 0.2224 | −0.594% | $40K | $372K | 12x | as long as short |
| 01 Exchange ARBUSD | −0.0232% | 1h | 0.2233 | −0.206% | $7K | $2K | 10x | as long as short |
| SoDEX ARB-USD | −0.0181% | 1h | 0.2236 | −0.045% | $4K | $2.8M | 5x | as long as short |
| Variational Omni ARB | −0.0164% | 8h | 0.2235 | −0.091% | $1.9M | $2.8M | — | as long as short |
| Bybit ARBUSDTshort | −0.0146% | 8h | 0.2232 | −0.246% | $57.6M | $133.6M | 50x | |
| Polymarket Perps ARB-USD | −0.0127% | 1h | 0.2233 | −0.197% | $71K | $2.0M | 10x | as long as short |
| OKX ARB-USDT-SWAP | −0.0104% | 8h | 0.2232 | −0.255% | $22.4M | $160.7M | 50x | as long as short |
| MEXC ARB_USDT | −0.0102% | 8h | 0.2233 | −0.192% | $37.4M | $62.6M | 200x | as long as short |
| Deribit ARB_USDC-PERPETUAL | −0.0063% | 1h | 0.2237 | −0.031% | $26K | $32K | 25x | as long as short |
| Orderly PERP_ARB_USDC | −0.0034% | 8h | 0.2233 | −0.192% | $11K | $394K | 10x | as long as short |
Injective ARB/USDC PERP
01 Exchange ARBUSD
SoDEX ARB-USD
Variational Omni ARB
Polymarket Perps ARB-USD
OKX ARB-USDT-SWAP
MEXC ARB_USDT
Deribit ARB_USDC-PERPETUAL
Orderly PERP_ARB_USDCShow all 36 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance ARBUSDT | −0.0008% | 8h | 0.2233 | −0.192% | $63.7M | $317.7M | 75x | as long as short |
| Extended ARB-USD | −0.0008% | 1h | 0.2231 | −0.261% | $356K | $2.4M | 25x | as long as short |
| dYdX ARB-USD | 0.0000% | 1h | 0.2235 | −0.116% | $66K | $4K | 10x | as long as short |
| gTrade (Gains Network) ARB/USD | L +0.0005% / S −0.0005% | 1h | 0.2235 | −0.103% | $55K | — | 150x | as long as short |
| Gate ARB_USDT | +0.0027% | 8h | 0.2233 | −0.174% | $5.4M | $20.7M | 60x | as long as short |
| Bitget ARBUSDT | +0.0073% | 8h | 0.2233 | −0.192% | $20.9M | $37.3M | 50x | as long as short |
| BingX ARB-USDC | +0.0077% | 8h | 0.2232 | −0.246% | — | $6.5M | — | as long as short |
| Aevo ARB-PERP | +0.0080% | 1h | 0.2234 | −0.141% | $146K | $12K | 3x | as long as short |
| Kraken Futures PF_ARBUSD | +0.0085% | 1h | 0.2238 | +0.049% | $1.1M | $5.1M | 50x | as long as short |
| Lighter ARB | +0.0096% | 1h | 0.2235 | −0.085% | $1.3M | $7.4M | 15x | as long as short |
| Hyperliquid ARB | +0.0100% | 1h | 0.2236 | −0.076% | $39.9M | $50.5M | 10x | as long as short |
| Aster ARBUSDT | +0.0100% | 8h | 0.2236 | −0.074% | $695K | $1.6M | 20x | as long as short |
| Pacifica ARB | +0.0100% | 1h | 0.2236 | −0.062% | $44K | $193K | 10x | as long as short |
| KuCoin ARBUSDTM | +0.0100% | 8h | 0.2235 | −0.121% | $20.6M | $16.5M | 75x | as long as short |
| edgeX ARBUSDC | +0.0100% | 4h | 0.2237 | −0.030% | $40K | $460K | 20x | as long as short |
| GRVT ARB_USDT_Perp | +0.0100% | 8h | 0.2237 | −0.013% | $485K | $3.9M | 10x | as long as short |
| ApeX Omni ARBUSDT | +0.0100% | 1h | 0.2236 | −0.058% | $121K | $294K | 50x | as long as short |
| SunX ARB-USDT | +0.0100% | 8h | 0.2239 | +0.076% | $2K | $1.1M | 30x | as long as short |
| HTX ARB-USDT | +0.0100% | 8h | 0.2233 | −0.183% | $276K | $1.1M | 50x | as long as short |
| Phemex ARBUSDT | +0.0100% | 8h | 0.2235 | −0.103% | $5.2M | $13.5M | 50x | as long as short |
| BloFin ARB-USDT | +0.0111% | 8h | 0.2233 | −0.188% | $3.0M | $3.3M | 75x | as long as short |
| Coinbase International ARB-PERP-INTX | +0.0264% | 1h | 0.2240 | +0.121% | $506K | $2.3M | 50x | as long as short |
| GMX ARB/USD [ARB-USDC] | L +0.0274% / S −0.0156% | 1h | 0.2235 | −0.112% | $838K | — | 150x | as long as short |
| Reya ARBRUSDPERP | +0.0290% | 1h | 0.2232 | −0.246% | $2K | $695 | 20x | as long as short |
| RISEx ARB/USDC | +0.0363% | 1h | 0.2235 | −0.109% | $494K | $2.7M | 10x | as long as short |
| Backpack ARB_USDC_PERPlong | +0.0615% | 1h | 0.2237 | long leg | $1.1M | $2.7M | 20x |
Binance ARBUSDT
Extended ARB-USD
dYdX ARB-USD
gTrade (Gains Network) ARB/USD
Gate ARB_USDT
Bitget ARBUSDT
BingX ARB-USDC
Aevo ARB-PERP
Kraken Futures PF_ARBUSD
Lighter ARB
Hyperliquid ARB
Aster ARBUSDT
Pacifica ARB
KuCoin ARBUSDTM
edgeX ARBUSDC
GRVT ARB_USDT_Perp
ApeX Omni ARBUSDT
SunX ARB-USDT
HTX ARB-USDT
Phemex ARBUSDT
BloFin ARB-USDT
Coinbase International ARB-PERP-INTX
GMX ARB/USD [ARB-USDC]
Reya ARBRUSDPERP
RISEx ARB/USDC