Funding you earn now, next payment 05:00 UTC+0.0467%/8h= +51.1% APRpaid last 24h +0.122%
Price spread now: Backpack against BingX+0.192%7-day average +0.897% · you sell dearer than you buy
Net, funding: paid 7d − costs−$36as in the Funding arb table
Net, price: spread back to 7d avg − costs−$127as in the Price arb table
costs, in and out, $10k−$560.563% of the position
Funding, last 7 days+0.205%+$20 on $10k
+Price spread, last 7 days+1.697%+$170 · spread now +0.192%, 7d avg +0.897%
=Funding pays, the price is against you. Backpack is 0.705% cheaper against BingX than usual: you would sell low and buy high (spread +0.192% now, against its 7-day average of +0.897%). If the spread goes back, that is −$70 on $10k: about 5.0 days of funding at the current rate (+$14 a day). At the pace of the last 7 days (+0.205% in total) that is about 24 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.205% in total (about 10.7% 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 | BingX ARB-USDC | 0.2190 | 0.0057 | pay 0.0057% / 8h | 3h 34m | — | $6.5M | — |
| Short | Backpack ARB_USDC_PERP | 0.2194 | 0.0524 | get 0.0065% / 1h | 34m 00s | $986K | $2.8M | 20x |
BingX ARB-USDC
Backpack ARB_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against BingX. 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
- $97.99
- Price spread: +0.192% → +0.897%
- −$70.48
- Slippage, 4 orders
- −$36.34
- Fee BingX: 5 bp × 2 orders
- −$10
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$28.83
- Costs to cover
- 0.563%
- Break-even
- 9.1 days
Slippage from BingX: live order book, 2 min ago; Backpack: 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 BingX live order book, 2 min ago | 4.81 bp | 18.8 bp −$19 | 39.2 bp −$392 | 102.1 bp −$10.2K | 733.0 bp −$366.5K |
| Sell Backpack live order book, 5 min ago | 1.14 bp | 7.1 bp −$7 | 102.3 bp −$1,023 | 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 | −0.1589% | 1h | 0.2181 | −0.397% | $39K | $372K | 12x | as long as short |
| Polymarket Perps ARB-USD | −0.0170% | 1h | 0.2190 | −0.005% | $69K | $2.1M | 10x | as long as short |
| OKX ARB-USDT-SWAP | −0.0107% | 8h | 0.2190 | +0.037% | $22.1M | $142.7M | 50x | as long as short |
| MEXC ARB_USDT | −0.0106% | 8h | 0.2190 | +0.023% | $41.8M | $60.5M | 200x | as long as short |
| Variational Omni ARB | −0.0102% | 8h | 0.2183 | −0.298% | $1.8M | $2.9M | — | as long as short |
| Orderly PERP_ARB_USDC | −0.0070% | 8h | 0.2191 | +0.059% | $12K | $407K | 10x | as long as short |
| Bybit ARBUSDT | −0.0057% | 8h | 0.2190 | +0.014% | $55.2M | $123.5M | 50x | as long as short |
| Kraken Futures PF_ARBUSD | −0.0050% | 1h | 0.2191 | +0.080% | $1.1M | $4.4M | 50x | as long as short |
| Gate ARB_USDT | −0.0020% | 8h | 0.2192 | +0.100% | $5.3M | $18.1M | 60x | as long as short |
| 01 Exchange ARBUSD | −0.0008% | 1h | 0.2191 | +0.041% | $7K | $2K | 10x | as long as short |
Injective ARB/USDC PERP
Polymarket Perps ARB-USD
OKX ARB-USDT-SWAP
MEXC ARB_USDT
Variational Omni ARB
Orderly PERP_ARB_USDC
Bybit ARBUSDT
Kraken Futures PF_ARBUSD
Gate ARB_USDT
01 Exchange ARBUSDShow all 36 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| dYdX ARB-USD | 0.0000% | 1h | 0.2192 | +0.082% | $65K | $5K | 10x | as long as short |
| Deribit ARB_USDC-PERPETUAL | 0.0000% | 1h | 0.2191 | +0.078% | $24K | $34K | 25x | as long as short |
| gTrade (Gains Network) ARB/USD | L +0.0005% / S −0.0006% | 1h | 0.2191 | +0.070% | $32K | — | 150x | as long as short |
| Extended ARB-USD | +0.0032% | 1h | 0.2190 | −0.004% | $349K | $2.5M | 25x | as long as short |
| Binance ARBUSDT | +0.0036% | 8h | 0.2191 | +0.068% | $63.8M | $299.5M | 75x | as long as short |
| Bitget ARBUSDT | +0.0056% | 8h | 0.2190 | +0.014% | $20.8M | $34.0M | 50x | as long as short |
| BingX ARB-USDClong | +0.0057% | 8h | 0.2190 | long leg | — | $6.5M | — | |
| Aevo ARB-PERP | +0.0088% | 1h | 0.2185 | −0.233% | $139K | $7K | 3x | as long as short |
| Lighter ARB | +0.0096% | 1h | 0.2191 | +0.046% | $1.2M | $5.5M | 15x | as long as short |
| Hyperliquid ARB | +0.0100% | 1h | 0.2192 | +0.119% | $37.6M | $48.3M | 10x | as long as short |
| Aster ARBUSDT | +0.0100% | 8h | 0.2190 | +0.035% | $630K | $1.5M | 20x | as long as short |
| Pacifica ARB | +0.0100% | 1h | 0.2192 | +0.083% | $42K | $159K | 10x | as long as short |
| KuCoin ARBUSDTM | +0.0100% | 8h | 0.2192 | +0.096% | $19.6M | $14.7M | 75x | as long as short |
| edgeX ARBUSDC | +0.0100% | 4h | 0.2190 | +0.034% | $38K | $463K | 20x | as long as short |
| GRVT ARB_USDT_Perp | +0.0100% | 8h | 0.2188 | −0.078% | $472K | $3.6M | 10x | as long as short |
| ApeX Omni ARBUSDT | +0.0100% | 1h | 0.2192 | +0.105% | $118K | $283K | 50x | as long as short |
| SunX ARB-USDT | +0.0100% | 8h | 0.2194 | +0.196% | $2K | $1.1M | 30x | as long as short |
| SoDEX ARB-USD | +0.0100% | 1h | 0.2190 | +0.037% | $10K | $2.2M | 5x | as long as short |
| HTX ARB-USDT | +0.0100% | 8h | 0.2191 | +0.069% | $297K | $885K | 50x | as long as short |
| Phemex ARBUSDT | +0.0100% | 8h | 0.2191 | +0.059% | $4.9M | $12.8M | 50x | as long as short |
| RISEx ARB/USDC | +0.0118% | 1h | 0.2191 | +0.053% | $476K | $2.6M | 10x | as long as short |
| BloFin ARB-USDT | +0.0145% | 8h | 0.2191 | +0.073% | $3.1M | $2.5M | 75x | as long as short |
| Coinbase International ARB-PERP-INTX | +0.0256% | 1h | 0.2194 | +0.192% | $494K | $1.6M | 50x | as long as short |
| GMX ARB/USD [ARB-USDC] | L +0.0276% / S −0.0158% | 1h | 0.2191 | +0.047% | $827K | — | 150x | as long as short |
| Reya ARBRUSDPERP | +0.0289% | 1h | 0.2190 | −0.006% | $2K | $695 | 20x | as long as short |
| Backpack ARB_USDC_PERPshort | +0.0524% | 1h | 0.2194 | +0.192% | $986K | $2.8M | 20x |
dYdX ARB-USD
Deribit ARB_USDC-PERPETUAL
gTrade (Gains Network) ARB/USD
Extended ARB-USD
Binance ARBUSDT
Bitget ARBUSDT
Aevo ARB-PERP
Lighter ARB
Hyperliquid ARB
Aster ARBUSDT
Pacifica ARB
KuCoin ARBUSDTM
edgeX ARBUSDC
GRVT ARB_USDT_Perp
ApeX Omni ARBUSDT
SunX ARB-USDT
SoDEX ARB-USD
HTX ARB-USDT
Phemex ARBUSDT
RISEx ARB/USDC
BloFin ARB-USDT
Coinbase International ARB-PERP-INTX
GMX ARB/USD [ARB-USDC]
Reya ARBRUSDPERP