Funding arb · Price arb /

ARB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0125%/8h= +13.7% APRpaid last 24h +0.071%

Price spread now: Coinbase International against BloFin+0.209%58s7-day average +0.144% · you sell dearer than you buy

Net, funding: paid 7d − costs−$50as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$710.711% of the position

Long on BloFin Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.210%+$21 on $10k

Price spread, last 3 days (all we have)+0.033%+$3 · spread now +0.209%, 7d avg +0.144%

Together, before fees+0.242%+$24 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Coinbase International is 0.065% dearer against BloFin than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.144%. The two prices were read 58 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin ARB-USDT	0.2248	0.0107	pay 0.0107% / 8h	7h 39m	$3.1M	$2.8M	75x
Short	Coinbase International ARB-PERP-INTX	0.2252	0.0232	get 0.0029% / 1h	39m 31s	$507K	$2.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against BloFin. 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 BloFinbpFee Coinbase InternationalbpOrdersPrice spread, now +0.209%Rate

Funding earned: $26.25
Price spread: +0.209% → +0.144%: $6.48
Slippage, 4 orders: −$49.1
Fee BloFin: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$38.36
Costs to cover: 0.711%
Break-even: 17.2 days

Slippage from BloFin: live order book, 4 min ago; Coinbase International: 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 BloFin live order book, 4 min ago	0.89 bp	11.5 bp −$12	32.1 bp −$321	doesn't fit	doesn't fit
Sell Coinbase International live order book, 4 min ago	8.67 bp	14.9 bp −$15	42.0 bp −$420	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	−0.1666%	1h	0.2237	−0.476%	$40K	$372K	12x	as long as short
Bybit ARBUSDT	−0.0242%	8h	0.2249	+0.049%	$58.0M	$127.0M	50x	as long as short
Variational Omni ARB	−0.0214%	8h	0.2246	−0.080%	$1.9M	$2.8M	—	as long as short
01 Exchange ARBUSD	−0.0144%	1h	0.2252	+0.178%	$7K	$2K	10x	as long as short
Kraken Futures PF_ARBUSD	−0.0138%	1h	0.2252	+0.197%	$1.1M	$4.9M	50x	as long as short
OKX ARB-USDT-SWAP	−0.0117%	8h	0.2249	+0.053%	$22.6M	$157.1M	50x	as long as short
MEXC ARB_USDT	−0.0116%	8h	0.2251	+0.133%	$38.4M	$59.0M	200x	as long as short
Orderly PERP_ARB_USDC	−0.0045%	8h	0.2251	+0.147%	$12K	$387K	10x	as long as short
Phemex ARBUSDT	−0.0039%	8h	0.2251	+0.147%	$5.1M	$13.0M	50x	as long as short
SoDEX ARB-USD	−0.0037%	1h	0.2250	+0.102%	$4K	$2.6M	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit ARB_USDC-PERPETUAL	−0.0017%	1h	0.2251	+0.129%	$25K	$34K	25x	as long as short
Extended ARB-USD	−0.0016%	1h	0.2249	+0.040%	$357K	$3.0M	25x	as long as short
Binance ARBUSDT	−0.0012%	8h	0.2250	+0.104%	$66.2M	$311.1M	75x	as long as short
dYdX ARB-USD	0.0000%	1h	0.2252	+0.175%	$67K	$4K	10x	as long as short
gTrade (Gains Network) ARB/USD	L +0.0005% / S −0.0005%	1h	0.2251	+0.132%	$55K	—	150x	as long as short
BingX ARB-USDT	+0.0056%	8h	0.2249	+0.053%	—	$54.1M	—	as long as short
Bitget ARBUSDT	+0.0061%	8h	0.2250	+0.102%	$21.4M	$35.9M	50x	as long as short
Aevo ARB-PERP	+0.0080%	1h	0.2251	+0.158%	$143K	$7K	3x	as long as short
Lighter ARB	+0.0096%	1h	0.2253	+0.245%	$1.4M	$7.3M	15x	as long as short
Hyperliquid ARB	+0.0100%	1h	0.2253	+0.214%	$40.6M	$47.3M	10x	as long as short
Aster ARBUSDT	+0.0100%	8h	0.2251	+0.166%	$700K	$1.6M	20x	as long as short
Pacifica ARB	+0.0100%	1h	0.2251	+0.160%	$44K	$186K	10x	as long as short
Gate ARB_USDT	+0.0100%	8h	0.2250	+0.089%	$5.4M	$19.7M	60x	as long as short
KuCoin ARBUSDTM	+0.0100%	8h	0.2250	+0.111%	$19.6M	$16.0M	75x	as long as short
edgeX ARBUSDC	+0.0100%	4h	0.2247	−0.048%	$40K	$460K	20x	as long as short
GRVT ARB_USDT_Perp	+0.0100%	8h	0.2250	+0.102%	$490K	$3.6M	10x	as long as short
ApeX Omni ARBUSDT	+0.0100%	1h	0.2246	−0.076%	$121K	$296K	50x	as long as short
Polymarket Perps ARB-USD	+0.0100%	1h	0.2250	+0.116%	$65K	$2.0M	10x	as long as short
SunX ARB-USDT	+0.0100%	8h	0.2251	+0.147%	$2K	$1.1M	30x	as long as short
HTX ARB-USDT	+0.0100%	8h	0.2250	+0.102%	$293K	$1.0M	50x	as long as short
BloFin ARB-USDTlong	+0.0107%	8h	0.2248	long leg	$3.1M	$2.8M	75x
Coinbase International ARB-PERP-INTXshort	+0.0232%	1h	0.2252	+0.209%	$507K	$2.2M	50x
GMX ARB/USD [ARB-USDC]	L +0.0290% / S −0.0177%	1h	0.2250	+0.124%	$896K	—	150x	as long as short
Reya ARBRUSDPERP	+0.0290%	1h	0.2249	+0.066%	$2K	$695	20x	as long as short
RISEx ARB/USDC	+0.0384%	1h	0.2253	+0.255%	$504K	$2.7M	10x	as long as short
Backpack ARB_USDC_PERP	+0.0430%	1h	0.2253	+0.240%	$1.0M	$2.8M	20x	as long as short