Funding you earn now, next payment 22:00 UTC−0.0771%/8h= −84.4% APRnext payment −$0.96 per $10,000 · paid last 24h −0.124%
Price spread now: Deribit against Backpack−0.027%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 5 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$23 a day on $10k at the current rate, and Deribit is 0.027% cheaper against Backpack than usual: you would sell low and buy high (−$3 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack ARB_USDC_PERP | 0.2241 | 0.0575 | pay 0.0072% / 1h | 16m 27s | $1.1M | $2.7M | 20x |
| Short | Deribit ARB_USDC-PERPETUAL | 0.2240 | −0.0196 | pay 0.0024% / 1h | 16m 27s | $38K | $20K | 25x |
Backpack ARB_USDC_PERP
Deribit ARB_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit 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
- −$161.92
- Price spread: −0.027% → 0.000%
- −$2.68
- Slippage, 4 orders
- no order book: not counted
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$181.6
- Costs to cover
- 0.170%
- Break-even
- never at this rate
Slippage unknown: Backpack: live order book, 3 min ago; Deribit: no order-book sample. Net counts fees only.
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, 3 min ago | 1.34 bp | 11.9 bp −$12 | doesn't fit | doesn't fit | doesn't fit |
| Sell Deribit no order-book sample | — | — | — | — | — |
Deribit: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | 0.2231 | −0.437% | $40K | $197K | 12x | as long as short |
| 01 Exchange ARBUSD | −0.0272% | 1h | 0.2234 | −0.321% | $7K | $2K | 10x | as long as short |
| Deribit ARB_USDC-PERPETUALshort | −0.0196% | 1h | 0.2240 | −0.027% | $38K | $20K | 25x | |
| Variational Omni ARB | −0.0161% | 8h | 0.2240 | −0.030% | $1.9M | $2.8M | — | as long as short |
| Bybit ARBUSDT | −0.0157% | 8h | 0.2234 | −0.317% | $56.2M | $135.9M | 50x | as long as short |
| SoDEX ARB-USD | −0.0114% | 1h | 0.2238 | −0.116% | $4K | $2.9M | 5x | as long as short |
| OKX ARB-USDT-SWAP | −0.0103% | 8h | 0.2233 | −0.344% | $22.2M | $164.5M | 50x | as long as short |
| MEXC ARB_USDT | −0.0103% | 8h | 0.2233 | −0.348% | $37.2M | $63.8M | 200x | as long as short |
| Kraken Futures PF_ARBUSD | −0.0053% | 1h | 0.2240 | −0.034% | $1.1M | $5.2M | 50x | as long as short |
| Polymarket Perps ARB-USD | −0.0039% | 1h | 0.2234 | −0.312% | $77K | $2.2M | 10x | as long as short |
Injective ARB/USDC PERP
01 Exchange ARBUSD
Variational Omni ARB
Bybit ARBUSDT
SoDEX ARB-USD
OKX ARB-USDT-SWAP
MEXC ARB_USDT
Kraken Futures PF_ARBUSD
Polymarket Perps ARB-USDShow all 36 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Orderly PERP_ARB_USDC | −0.0018% | 8h | 0.2239 | −0.080% | $11K | $388K | 10x | as long as short |
| Binance ARBUSDT | −0.0010% | 8h | 0.2234 | −0.308% | $63.5M | $324.5M | 75x | as long as short |
| Extended ARB-USD | −0.0008% | 1h | 0.2234 | −0.323% | $357K | $2.4M | 25x | as long as short |
| dYdX ARB-USD | 0.0000% | 1h | 0.2236 | −0.234% | $66K | $4K | 10x | as long as short |
| gTrade (Gains Network) ARB/USD | L +0.0005% / S −0.0005% | 1h | 0.2241 | +0.009% | $56K | — | 150x | as long as short |
| Gate ARB_USDT | +0.0007% | 8h | 0.2234 | −0.295% | $5.5M | $21.6M | 60x | as long as short |
| Aevo ARB-PERP | +0.0080% | 1h | 0.2241 | −0.012% | $146K | $12K | 3x | as long as short |
| BingX ARB-USDC | +0.0086% | 8h | 0.2237 | −0.179% | — | $6.5M | — | as long as short |
| Bitget ARBUSDT | +0.0088% | 8h | 0.2234 | −0.303% | $21.0M | $38.3M | 50x | as long as short |
| Lighter ARB | +0.0096% | 1h | 0.2235 | −0.241% | $1.3M | $7.7M | 15x | as long as short |
| Hyperliquid ARB | +0.0100% | 1h | 0.2237 | −0.183% | $40.0M | $52.8M | 10x | as long as short |
| Aster ARBUSDT | +0.0100% | 8h | 0.2237 | −0.186% | $695K | $1.8M | 20x | as long as short |
| Pacifica ARB | +0.0100% | 1h | 0.2235 | −0.241% | $47K | $199K | 10x | as long as short |
| KuCoin ARBUSDTM | +0.0100% | 8h | 0.2235 | −0.245% | $20.5M | $17.0M | 75x | as long as short |
| edgeX ARBUSDC | +0.0100% | 4h | 0.2244 | +0.135% | $40K | $456K | 20x | as long as short |
| GRVT ARB_USDT_Perp | +0.0100% | 8h | 0.2244 | +0.132% | $483K | $4.1M | 10x | as long as short |
| ApeX Omni ARBUSDT | +0.0100% | 1h | 0.2242 | +0.054% | $121K | $297K | 50x | as long as short |
| SunX ARB-USDT | +0.0100% | 8h | 0.2239 | −0.080% | $1K | $1.1M | 30x | as long as short |
| HTX ARB-USDT | +0.0100% | 8h | 0.2246 | +0.250% | $276K | $1.2M | 50x | as long as short |
| Phemex ARBUSDT | +0.0100% | 8h | 0.2239 | −0.080% | $5.3M | $13.7M | 50x | as long as short |
| BloFin ARB-USDT | +0.0110% | 8h | 0.2239 | −0.080% | $3.0M | $3.3M | 75x | as long as short |
| GMX ARB/USD [ARB-USDC] | L +0.0154% / S −0.0018% | 1h | 0.2241 | −0.008% | $849K | — | 150x | as long as short |
| Coinbase International ARB-PERP-INTX | +0.0288% | 1h | 0.2249 | +0.366% | $504K | $2.5M | 50x | as long as short |
| Reya ARBRUSDPERP | +0.0291% | 1h | 0.2233 | −0.328% | $2K | $695 | 20x | as long as short |
| RISEx ARB/USDC | +0.0546% | 1h | 0.2236 | −0.199% | $496K | $2.8M | 10x | as long as short |
| Backpack ARB_USDC_PERPlong | +0.0575% | 1h | 0.2241 | long leg | $1.1M | $2.7M | 20x |
Orderly PERP_ARB_USDC
Binance ARBUSDT
Extended ARB-USD
dYdX ARB-USD
gTrade (Gains Network) 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
ApeX Omni ARBUSDT
SunX ARB-USDT
HTX ARB-USDT
Phemex ARBUSDT
BloFin ARB-USDT
GMX ARB/USD [ARB-USDC]
Coinbase International ARB-PERP-INTX
Reya ARBRUSDPERP
RISEx ARB/USDC