ARB

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0741%/8h= −81.2% APRnext payment −$0.93 per $10,000 · paid last 24h −0.152%

Price spread now: SoDEX against Backpack−0.158%7-day average −0.080% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$290.289% of the position

Long on Backpack Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.225%−$22 on $10k

Price spread, last 3 days (all we have)+0.494%+$49 · spread now −0.158%, 7d avg −0.080%

Together, before fees+0.269%+$27 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$22 a day on $10k at the current rate, and SoDEX is 0.078% cheaper against Backpack than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of −0.080%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.225% in total (about -25.4% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.93 per $10,000. 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	0.2214	0.0523	pay 0.0065% / 1h	30m 30s	$997K	$2.9M	20x
Short	SoDEX ARB-USD	0.2211	−0.0218	pay 0.0027% / 1h	30m 30s	$10K	$2.5M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.158%Rate

Funding earned: −$155.68
Price spread: −0.158% → −0.080%: −$7.84
Slippage, 4 orders: −$10.94
Fee Backpack: 5 bp × 2 orders: −$10
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$192.46
Costs to cover: 0.289%
Break-even: never at this rate

Slippage from Backpack: live order book, 4 min ago; SoDEX: live order book, 4 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	0.90 bp	9.5 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell SoDEX live order book, 4 min ago	0.68 bp	6.0 bp −$6	20.4 bp −$204	doesn't fit	doesn't fit

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	0.2208	−0.289%	$40K	$372K	12x	as long as short
01 Exchange ARBUSD	−0.0240%	1h	0.2212	−0.095%	$7K	$2K	10x	as long as short
SoDEX ARB-USDshort	−0.0218%	1h	0.2211	−0.158%	$10K	$2.5M	5x
Variational Omni ARB	−0.0172%	8h	0.2211	−0.158%	$1.9M	$2.9M	—	as long as short
ApeX Omni ARBUSDT	−0.0156%	1h	0.2226	+0.524%	$120K	$296K	50x	as long as short
OKX ARB-USDT-SWAP	−0.0114%	8h	0.2212	−0.108%	$22.3M	$156.8M	50x	as long as short
MEXC ARB_USDT	−0.0113%	8h	0.2213	−0.045%	$40.1M	$59.6M	200x	as long as short
Bybit ARBUSDT	−0.0066%	8h	0.2212	−0.113%	$56.7M	$129.0M	50x	as long as short
Deribit ARB_USDC-PERPETUAL	−0.0066%	1h	0.2212	−0.113%	$24K	$34K	25x	as long as short
Gate ARB_USDT	−0.0063%	8h	0.2213	−0.081%	$5.4M	$19.8M	60x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_ARB_USDC	−0.0059%	8h	0.2213	−0.063%	$12K	$381K	10x	as long as short
Binance ARBUSDT	−0.0001%	8h	0.2212	−0.095%	$64.5M	$318.0M	75x	as long as short
dYdX ARB-USD	0.0000%	1h	0.2213	−0.070%	$65K	$5K	10x	as long as short
Extended ARB-USD	0.0000%	1h	0.2211	−0.132%	$353K	$2.5M	25x	as long as short
gTrade (Gains Network) ARB/USD	L +0.0005% / S −0.0011%	1h	0.2212	−0.089%	$10K	—	150x	as long as short
Aevo ARB-PERP	+0.0080%	1h	0.2213	−0.086%	$140K	$7K	3x	as long as short
Lighter ARB	+0.0096%	1h	0.2211	−0.135%	$1.2M	$7.4M	15x	as long as short
Hyperliquid ARB	+0.0100%	1h	0.2213	−0.072%	$38.2M	$51.0M	10x	as long as short
Aster ARBUSDT	+0.0100%	8h	0.2212	−0.104%	$659K	$1.7M	20x	as long as short
Pacifica ARB	+0.0100%	1h	0.2214	−0.014%	$42K	$188K	10x	as long as short
KuCoin ARBUSDTM	+0.0100%	8h	0.2212	−0.108%	$19.6M	$15.8M	75x	as long as short
Bitget ARBUSDT	+0.0100%	8h	0.2211	−0.154%	$21.1M	$36.3M	50x	as long as short
BingX ARB-USDC	+0.0100%	8h	0.2212	−0.104%	—	$6.5M	—	as long as short
edgeX ARBUSDC	+0.0100%	4h	0.2225	+0.467%	$40K	$463K	20x	as long as short
GRVT ARB_USDT_Perp	+0.0100%	8h	0.2219	+0.202%	$480K	$3.7M	10x	as long as short
Polymarket Perps ARB-USD	+0.0100%	1h	0.2213	−0.077%	$76K	$2.1M	10x	as long as short
SunX ARB-USDT	+0.0100%	8h	0.2211	−0.154%	$1K	$1.1M	30x	as long as short
HTX ARB-USDT	+0.0100%	8h	0.2212	−0.122%	$297K	$1.0M	50x	as long as short
Phemex ARBUSDT	+0.0100%	8h	0.2212	−0.108%	$5.0M	$13.0M	50x	as long as short
Coinbase International ARB-PERP-INTX	+0.0240%	1h	0.2219	+0.208%	$508K	$2.1M	50x	as long as short
GMX ARB/USD [ARB-USDC]	L +0.0273% / S −0.0155%	1h	0.2212	−0.103%	$825K	—	150x	as long as short
Reya ARBRUSDPERP	+0.0290%	1h	0.2211	−0.134%	$2K	$695	20x	as long as short
Kraken Futures PF_ARBUSD	+0.0312%	1h	0.2212	−0.086%	$1.1M	$4.7M	50x	as long as short
RISEx ARB/USDC	+0.0466%	1h	0.2214	−0.011%	$469K	$2.6M	10x	as long as short
Backpack ARB_USDC_PERPlong	+0.0523%	1h	0.2214	long leg	$997K	$2.9M	20x