Funding arb · Price arb /

ARB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0254%/8h= −27.8% APRpaid last 24h −0.066%

Price spread now: BloFin against Coinbase International−0.067%58s7-day average −0.148% · you buy dearer than you sell

Net, funding: paid 7d − costs−$90as 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−$700.700% of the position

Long on Coinbase International Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.198%−$20 on $10k

Price spread, last 3 days (all we have)−0.340%−$34 · spread now −0.067%, 7d avg −0.148%

Together, before fees−0.538%−$54 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BloFin is 0.081% dearer against Coinbase International than usual: you sell high and buy low (spread −0.067% now, against its 7-day average of −0.148%): +$8 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 25 hours. At the pace of the last 7 days (−0.198% in total) that is about 2.9 days. 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	Coinbase International ARB-PERP-INTX	0.2240	0.0288	pay 0.0036% / 1h	34m 10s	$507K	$2.5M	50x
Short	BloFin ARB-USDT	0.2238	0.0034	get 0.0034% / 8h	2h 34m	$3.0M	$3.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Coinbase International. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Coinbase InternationalbpFee BloFinbpOrdersPrice spread, now −0.067%Rate

Funding earned: −$53.28
Price spread: −0.067% → −0.148%: $8.06
Slippage, 4 orders: −$47.99
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$115.2
Costs to cover: 0.700%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 5 min ago; BloFin: 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 Coinbase International live order book, 5 min ago	8.50 bp	23.1 bp −$23	43.5 bp −$435	doesn't fit	doesn't fit
Sell BloFin live order book, 4 min ago	2.68 bp	11.2 bp −$11	24.2 bp −$242	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	−0.1675%	1h	0.2223	−0.741%	$40K	$197K	12x	as long as short
01 Exchange ARBUSD	−0.0304%	1h	0.2235	−0.192%	$7K	$2K	10x	as long as short
Bybit ARBUSDT	−0.0206%	8h	0.2236	−0.170%	$56.6M	$136.0M	50x	as long as short
Variational Omni ARB	−0.0178%	8h	0.2229	−0.452%	$1.9M	$2.8M	—	as long as short
Deribit ARB_USDC-PERPETUAL	−0.0152%	1h	0.2236	−0.179%	$37K	$18K	25x	as long as short
OKX ARB-USDT-SWAP	−0.0076%	8h	0.2235	−0.196%	$22.2M	$165.6M	50x	as long as short
MEXC ARB_USDT	−0.0074%	8h	0.2235	−0.219%	$37.6M	$63.4M	200x	as long as short
Kraken Futures PF_ARBUSD	−0.0053%	1h	0.2236	−0.160%	$1.1M	$5.3M	50x	as long as short
SoDEX ARB-USD	−0.0052%	1h	0.2235	−0.223%	$4K	$2.9M	5x	as long as short
Orderly PERP_ARB_USDC	−0.0012%	8h	0.2235	−0.205%	$10K	$387K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps ARB-USD	−0.0011%	1h	0.2235	−0.196%	$77K	$2.3M	10x	as long as short
dYdX ARB-USD	0.0000%	1h	0.2239	−0.040%	$66K	$4K	10x	as long as short
gTrade (Gains Network) ARB/USD	L +0.0005% / S −0.0005%	1h	0.2236	−0.170%	$55K	—	150x	as long as short
Extended ARB-USD	+0.0008%	1h	0.2234	−0.250%	$355K	$2.5M	25x	as long as short
Gate ARB_USDT	+0.0008%	8h	0.2236	−0.170%	$5.5M	$21.5M	60x	as long as short
Binance ARBUSDT	+0.0010%	8h	0.2236	−0.147%	$63.6M	$326.0M	75x	as long as short
BloFin ARB-USDTshort	+0.0034%	8h	0.2238	−0.067%	$3.0M	$3.3M	75x
Aevo ARB-PERP	+0.0080%	1h	0.2235	−0.193%	$146K	$12K	3x	as long as short
BingX ARB-USDC	+0.0084%	8h	0.2234	−0.246%	—	$6.5M	—	as long as short
Bitget ARBUSDT	+0.0085%	8h	0.2235	−0.205%	$21.0M	$38.7M	50x	as long as short
Lighter ARB	+0.0096%	1h	0.2236	−0.147%	$1.3M	$7.7M	15x	as long as short
Hyperliquid ARB	+0.0100%	1h	0.2238	−0.080%	$40.0M	$53.1M	10x	as long as short
Aster ARBUSDT	+0.0100%	8h	0.2236	−0.156%	$696K	$1.8M	20x	as long as short
Pacifica ARB	+0.0100%	1h	0.2238	−0.054%	$46K	$205K	10x	as long as short
KuCoin ARBUSDTM	+0.0100%	8h	0.2236	−0.143%	$20.7M	$17.1M	75x	as long as short
edgeX ARBUSDC	+0.0100%	4h	0.2233	−0.309%	$38K	$449K	20x	as long as short
GRVT ARB_USDT_Perp	+0.0100%	8h	0.2236	−0.155%	$482K	$4.1M	10x	as long as short
ApeX Omni ARBUSDT	+0.0100%	1h	0.2235	−0.205%	$121K	$297K	50x	as long as short
SunX ARB-USDT	+0.0100%	8h	0.2237	−0.116%	$1K	$1.1M	30x	as long as short
HTX ARB-USDT	+0.0100%	8h	0.2237	−0.121%	$275K	$1.2M	50x	as long as short
Phemex ARBUSDT	+0.0100%	8h	0.2236	−0.161%	$5.3M	$13.8M	50x	as long as short
GMX ARB/USD [ARB-USDC]	L +0.0276% / S −0.0168%	1h	0.2236	−0.160%	$820K	—	150x	as long as short
Coinbase International ARB-PERP-INTXlong	+0.0288%	1h	0.2240	long leg	$507K	$2.5M	50x
Reya ARBRUSDPERP	+0.0291%	1h	0.2235	−0.219%	$2K	$695	20x	as long as short
RISEx ARB/USDC	+0.0546%	1h	0.2238	−0.060%	$492K	$2.9M	10x	as long as short
Backpack ARB_USDC_PERP	+0.0555%	1h	0.2238	−0.049%	$1.1M	$2.7M	20x	as long as short