Funding you earn now, next payment 02:00 UTC−0.0601%/8h= −65.9% APRpaid last 24h −0.148%
Price spread now: Orderly against Backpack−0.131%7-day average −0.067% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.424%−$42 on $10k
+Price spread, last 3 days (all we have)+0.503%+$50 · spread now −0.131%, 7d avg −0.067%
=Both sides work against this trade now: funding costs −$18 a day on $10k at the current rate, and Orderly is 0.064% cheaper against Backpack than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.067%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack ARB_USDC_PERP | 0.2218 | 0.0534 | pay 0.0067% / 1h | 10m 37s | $1.0M | $2.9M | 20x |
| Short | Orderly PERP_ARB_USDC | 0.2215 | −0.0068 | pay 0.0068% / 8h | 6h 10m | $12K | $384K | 10x |
Backpack ARB_USDC_PERP
Orderly PERP_ARB_USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Orderly 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
- −$126.31
- Price spread: −0.131% → −0.067%
- −$6.4
- Slippage, 4 orders
- no order book: not counted
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- −$148.71
- Costs to cover
- 0.160%
- Break-even
- never at this rate
Slippage unknown: Backpack: live order book, 3 min ago; Orderly: 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 | 0.90 bp | 8.0 bp −$8 | doesn't fit | doesn't fit | doesn't fit |
| Sell Orderly no order-book sample | — | — | — | — | — |
Orderly: 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 35 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 | −0.1692% | 1h | 0.2202 | −0.717% | $40K | $372K | 12x | as long as short |
| SoDEX ARB-USD | −0.0260% | 1h | 0.2215 | −0.153% | $10K | $2.5M | 5x | as long as short |
| 01 Exchange ARBUSD | −0.0224% | 1h | 0.2215 | −0.117% | $7K | $2K | 10x | as long as short |
| Deribit ARB_USDC-PERPETUAL | −0.0201% | 1h | 0.2215 | −0.131% | $24K | $34K | 25x | as long as short |
| Variational Omni ARB | −0.0157% | 8h | 0.2213 | −0.205% | $1.9M | $2.9M | — | as long as short |
| OKX ARB-USDT-SWAP | −0.0126% | 8h | 0.2209 | −0.388% | $22.3M | $155.6M | 50x | as long as short |
| MEXC ARB_USDT | −0.0126% | 8h | 0.2209 | −0.383% | $39.0M | $60.2M | 200x | as long as short |
| Gate ARB_USDT | −0.0079% | 8h | 0.2213 | −0.239% | $5.4M | $19.9M | 60x | as long as short |
| Orderly PERP_ARB_USDCshort | −0.0068% | 8h | 0.2215 | −0.131% | $12K | $384K | 10x | |
| Bybit ARBUSDT | −0.0040% | 8h | 0.2210 | −0.379% | $56.5M | $128.5M | 50x | as long as short |
Injective ARB/USDC PERP
SoDEX ARB-USD
01 Exchange ARBUSD
Deribit ARB_USDC-PERPETUAL
Variational Omni ARB
OKX ARB-USDT-SWAP
MEXC ARB_USDT
Gate ARB_USDT
Bybit ARBUSDTShow all 35 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance ARBUSDT | −0.0003% | 8h | 0.2210 | −0.358% | $64.3M | $316.8M | 75x | as long as short |
| dYdX ARB-USD | 0.0000% | 1h | 0.2212 | −0.286% | $65K | $5K | 10x | as long as short |
| Extended ARB-USD | 0.0000% | 1h | 0.2209 | −0.405% | $352K | $2.5M | 25x | as long as short |
| gTrade (Gains Network) ARB/USD | L +0.0005% / S −0.0011% | 1h | 0.2215 | −0.143% | $10K | — | 150x | as long as short |
| ApeX Omni ARBUSDT | +0.0064% | 1h | 0.2213 | −0.221% | $119K | $286K | 50x | as long as short |
| Aevo ARB-PERP | +0.0080% | 1h | 0.2215 | −0.108% | $141K | $7K | 3x | as long as short |
| Lighter ARB | +0.0096% | 1h | 0.2210 | −0.379% | $1.2M | $7.4M | 15x | as long as short |
| Hyperliquid ARB | +0.0100% | 1h | 0.2213 | −0.198% | $38.6M | $51.8M | 10x | as long as short |
| Aster ARBUSDT | +0.0100% | 8h | 0.2213 | −0.235% | $659K | $1.7M | 20x | as long as short |
| Pacifica ARB | +0.0100% | 1h | 0.2211 | −0.326% | $42K | $184K | 10x | as long as short |
| KuCoin ARBUSDTM | +0.0100% | 8h | 0.2210 | −0.370% | $19.5M | $15.7M | 75x | as long as short |
| Bitget ARBUSDT | +0.0100% | 8h | 0.2209 | −0.401% | $21.2M | $36.4M | 50x | as long as short |
| BingX ARB-USDC | +0.0100% | 8h | 0.2211 | −0.320% | — | $6.5M | — | as long as short |
| edgeX ARBUSDC | +0.0100% | 4h | 0.2214 | −0.161% | $40K | $464K | 20x | as long as short |
| GRVT ARB_USDT_Perp | +0.0100% | 8h | 0.2213 | −0.222% | $481K | $3.7M | 10x | as long as short |
| Polymarket Perps ARB-USD | +0.0100% | 1h | 0.2216 | −0.086% | $87K | $2.1M | 10x | as long as short |
| SunX ARB-USDT | +0.0100% | 8h | 0.2216 | −0.086% | $1K | $1.1M | 30x | as long as short |
| HTX ARB-USDT | +0.0100% | 8h | 0.2215 | −0.131% | $297K | $996K | 50x | as long as short |
| Phemex ARBUSDT | +0.0100% | 8h | 0.2214 | −0.176% | $5.0M | $13.0M | 50x | as long as short |
| Coinbase International ARB-PERP-INTX | +0.0240% | 1h | 0.2222 | +0.185% | $508K | $2.1M | 50x | as long as short |
| GMX ARB/USD [ARB-USDC] | L +0.0273% / S −0.0155% | 1h | 0.2215 | −0.151% | $827K | — | 150x | as long as short |
| Reya ARBRUSDPERP | +0.0290% | 1h | 0.2215 | −0.127% | $2K | $695 | 20x | as long as short |
| Kraken Futures PF_ARBUSD | +0.0312% | 1h | 0.2216 | −0.086% | $1.1M | $4.7M | 50x | as long as short |
| RISEx ARB/USDC | +0.0466% | 1h | 0.2211 | −0.313% | $480K | $2.7M | 10x | as long as short |
| Backpack ARB_USDC_PERPlong | +0.0534% | 1h | 0.2218 | long leg | $1.0M | $2.9M | 20x |
Binance ARBUSDT
dYdX ARB-USD
Extended ARB-USD
gTrade (Gains Network) ARB/USD
ApeX Omni ARBUSDT
Aevo ARB-PERP
Lighter ARB
Hyperliquid ARB
Aster ARBUSDT
Pacifica ARB
KuCoin ARBUSDTM
Bitget ARBUSDT
BingX ARB-USDC
edgeX ARBUSDC
GRVT ARB_USDT_Perp
Polymarket Perps ARB-USD
SunX ARB-USDT
HTX ARB-USDT
Phemex ARBUSDT
Coinbase International ARB-PERP-INTX
GMX ARB/USD [ARB-USDC]
Reya ARBRUSDPERP
Kraken Futures PF_ARBUSD
RISEx ARB/USDC