Funding you earn now, next payment 02:00 UTC+0.0426%/8h= +46.6% APRpaid last 24h +0.105%
Price spread now: Backpack against Bitget+0.357%7-day average +0.825% · you sell dearer than you buy
Net, funding: paid 7d − costs−$23as in the Funding arb table
Net, price: spread back to 7d avg − costs−$93as in the Price arb table
costs, in and out, $10k−$460.459% of the position
Funding, last 7 days+0.230%+$23 on $10k
+Price spread, last 7 days−0.580%−$58 · spread now +0.357%, 7d avg +0.825%
=Funding pays, the price is against you. Backpack is 0.468% cheaper against Bitget than usual: you would sell low and buy high (spread +0.357% now, against its 7-day average of +0.825%). If the spread goes back, that is −$47 on $10k: about 3.7 days of funding at the current rate (+$13 a day). At the pace of the last 7 days (+0.230% in total) that is about 14 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.230% in total (about 12.0% 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 | Bitget ARBUSDT | 0.2213 | 0.0100 | pay 0.0100% / 8h | 6h 51m | $21.1M | $36.4M | 50x |
| Short | Backpack ARB_USDC_PERP | 0.2221 | 0.0526 | get 0.0066% / 1h | 51m 39s | $1.0M | $2.9M | 20x |
Bitget ARBUSDT
Backpack ARB_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Bitget. 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
- $89.44
- Price spread: +0.357% → +0.825%
- −$46.8
- Slippage, 4 orders
- −$23.86
- Fee Bitget: 6 bp × 2 orders
- −$12
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$3.23
- Costs to cover
- 0.459%
- Break-even
- 7.3 days
Slippage from Bitget: live order book, 2 min ago; Backpack: live order book, 2 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 Bitget live order book, 2 min ago | 2.27 bp | 15.4 bp −$15 | 25.4 bp −$254 | 137.1 bp −$13.7K | doesn't fit |
| Sell Backpack live order book, 2 min ago | 2.04 bp | 9.8 bp −$10 | 218.2 bp −$2,182 | 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 | −0.1692% | 1h | 0.2196 | −0.768% | $40K | $372K | 12x | as long as short |
| ApeX Omni ARBUSDT | −0.0744% | 1h | 0.2210 | −0.136% | $119K | $296K | 50x | as long as short |
| 01 Exchange ARBUSD | −0.0208% | 1h | 0.2213 | −0.014% | $7K | $2K | 10x | as long as short |
| Variational Omni ARB | −0.0190% | 8h | 0.2195 | −0.813% | $1.8M | $2.8M | — | as long as short |
| OKX ARB-USDT-SWAP | −0.0104% | 8h | 0.2212 | −0.068% | $22.3M | $157.0M | 50x | as long as short |
| MEXC ARB_USDT | −0.0103% | 8h | 0.2213 | −0.005% | $37.3M | $58.9M | 200x | as long as short |
| Bybit ARBUSDT | −0.0084% | 8h | 0.2211 | −0.081% | $57.2M | $129.1M | 50x | as long as short |
| Deribit ARB_USDC-PERPETUAL | −0.0066% | 1h | 0.2218 | +0.203% | $24K | $34K | 25x | as long as short |
| Orderly PERP_ARB_USDC | −0.0054% | 8h | 0.2217 | +0.181% | $13K | $386K | 10x | as long as short |
| SoDEX ARB-USD | −0.0036% | 1h | 0.2217 | +0.158% | $10K | $2.5M | 5x | as long as short |
Injective ARB/USDC PERP
ApeX Omni ARBUSDT
01 Exchange ARBUSD
Variational Omni ARB
OKX ARB-USDT-SWAP
MEXC ARB_USDT
Bybit ARBUSDT
Deribit ARB_USDC-PERPETUAL
Orderly PERP_ARB_USDC
SoDEX ARB-USDShow all 36 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| dYdX ARB-USD | 0.0000% | 1h | 0.2212 | −0.061% | $65K | $5K | 10x | as long as short |
| gTrade (Gains Network) ARB/USD | L +0.0005% / S −0.0005% | 1h | 0.2217 | +0.181% | $31K | — | 150x | as long as short |
| Binance ARBUSDT | +0.0007% | 8h | 0.2213 | −0.005% | $65.1M | $318.0M | 75x | as long as short |
| Extended ARB-USD | +0.0008% | 1h | 0.2213 | +0.006% | $352K | $2.5M | 25x | as long as short |
| BloFin ARB-USDT | +0.0020% | 8h | 0.2210 | −0.122% | $3.2M | $2.9M | 75x | as long as short |
| Gate ARB_USDT | +0.0043% | 8h | 0.2212 | −0.045% | $5.4M | $19.6M | 60x | as long as short |
| Aevo ARB-PERP | +0.0080% | 1h | 0.2218 | +0.226% | $141K | $7K | 3x | as long as short |
| Lighter ARB | +0.0096% | 1h | 0.2212 | −0.027% | $1.3M | $7.4M | 15x | as long as short |
| Hyperliquid ARB | +0.0100% | 1h | 0.2213 | 0.000% | $38.2M | $50.4M | 10x | as long as short |
| Aster ARBUSDT | +0.0100% | 8h | 0.2213 | −0.017% | $659K | $1.7M | 20x | as long as short |
| Pacifica ARB | +0.0100% | 1h | 0.2213 | +0.009% | $43K | $186K | 10x | as long as short |
| KuCoin ARBUSDTM | +0.0100% | 8h | 0.2213 | −0.014% | $19.6M | $15.9M | 75x | as long as short |
| Bitget ARBUSDTlong | +0.0100% | 8h | 0.2213 | long leg | $21.1M | $36.4M | 50x | |
| BingX ARB-USDT | +0.0100% | 8h | 0.2214 | +0.050% | — | $54.6M | — | as long as short |
| edgeX ARBUSDC | +0.0100% | 4h | 0.2208 | −0.236% | $40K | $462K | 20x | as long as short |
| GRVT ARB_USDT_Perp | +0.0100% | 8h | 0.2209 | −0.197% | $479K | $3.6M | 10x | as long as short |
| Polymarket Perps ARB-USD | +0.0100% | 1h | 0.2217 | +0.167% | $76K | $2.0M | 10x | as long as short |
| SunX ARB-USDT | +0.0100% | 8h | 0.2216 | +0.136% | $2K | $1.1M | 30x | as long as short |
| HTX ARB-USDT | +0.0100% | 8h | 0.2216 | +0.131% | $291K | $1.0M | 50x | as long as short |
| Phemex ARBUSDT | +0.0100% | 8h | 0.2217 | +0.181% | $5.1M | $13.0M | 50x | as long as short |
| Coinbase International ARB-PERP-INTX | +0.0240% | 1h | 0.2215 | +0.090% | $508K | $2.2M | 50x | as long as short |
| GMX ARB/USD [ARB-USDC] | L +0.0273% / S −0.0155% | 1h | 0.2217 | +0.192% | $827K | — | 150x | as long as short |
| Reya ARBRUSDPERP | +0.0290% | 1h | 0.2215 | +0.108% | $2K | $695 | 20x | as long as short |
| Kraken Futures PF_ARBUSD | +0.0311% | 1h | 0.2218 | +0.240% | $1.1M | $4.8M | 50x | as long as short |
| RISEx ARB/USDC | +0.0466% | 1h | 0.2216 | +0.127% | $500K | $2.6M | 10x | as long as short |
| Backpack ARB_USDC_PERPshort | +0.0526% | 1h | 0.2221 | +0.357% | $1.0M | $2.9M | 20x |
dYdX ARB-USD
gTrade (Gains Network) ARB/USD
Binance ARBUSDT
Extended ARB-USD
BloFin ARB-USDT
Gate ARB_USDT
Aevo ARB-PERP
Lighter ARB
Hyperliquid ARB
Aster ARBUSDT
Pacifica ARB
KuCoin ARBUSDTM
BingX ARB-USDT
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