Funding you earn now, next payment 22:00 UTC+0.0565%/8h= +61.8% APRpaid last 24h +0.093%
Price spread now: Backpack against Gate+0.192%7-day average +0.811% · you sell dearer than you buy
Net, funding: paid 7d − costs−$24as in the Funding arb table
Net, price: spread back to 7d avg − costs−$113as in the Price arb table
costs, in and out, $10k−$510.512% of the position
Funding, last 7 days+0.276%+$28 on $10k
+Price spread, last 7 days−0.306%−$31 · spread now +0.192%, 7d avg +0.811%
=Funding pays, the price is against you. Backpack is 0.619% cheaper against Gate than usual: you would sell low and buy high (spread +0.192% now, against its 7-day average of +0.811%). If the spread goes back, that is −$62 on $10k: about 3.7 days of funding at the current rate (+$17 a day). At the pace of the last 7 days (+0.276% in total) that is about 16 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.276% in total (about 14.4% 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 | Gate ARB_USDT | 0.2243 | 0.0012 | pay 0.0012% / 8h | 2h 18m | $5.5M | $21.6M | 60x |
| Short | Backpack ARB_USDC_PERP | 0.2248 | 0.0577 | get 0.0072% / 1h | 18m 54s | $1.1M | $2.7M | 20x |
Gate ARB_USDT
Backpack ARB_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Gate. 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
- $118.61
- Price spread: +0.192% → +0.811%
- −$61.89
- Slippage, 4 orders
- −$26.15
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $5.57
- Costs to cover
- 0.512%
- Break-even
- 6.7 days
Slippage from Gate: live order book, 5 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 Gate live order book, 5 min ago | 2.45 bp | 19.0 bp −$19 | 34.4 bp −$344 | 95.7 bp −$9,566 | doesn't fit |
| Sell Backpack live order book, 5 min ago | 1.56 bp | 10.6 bp −$11 | 107.8 bp −$1,078 | 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 | 0.2231 | −0.548% | $40K | $197K | 12x | as long as short |
| 01 Exchange ARBUSD | −0.0280% | 1h | 0.2244 | +0.018% | $7K | $2K | 10x | as long as short |
| Variational Omni ARB | −0.0161% | 8h | 0.2240 | −0.141% | $1.9M | $2.8M | — | as long as short |
| Bybit ARBUSDT | −0.0159% | 8h | 0.2243 | −0.022% | $56.4M | $135.9M | 50x | as long as short |
| SoDEX ARB-USD | −0.0106% | 1h | 0.2244 | +0.022% | $4K | $2.9M | 5x | as long as short |
| Deribit ARB_USDC-PERPETUAL | −0.0106% | 1h | 0.2245 | +0.076% | $38K | $20K | 25x | as long as short |
| OKX ARB-USDT-SWAP | −0.0100% | 8h | 0.2242 | −0.076% | $22.3M | $165.2M | 50x | as long as short |
| MEXC ARB_USDT | −0.0099% | 8h | 0.2243 | −0.036% | $37.4M | $63.7M | 200x | as long as short |
| Kraken Futures PF_ARBUSD | −0.0053% | 1h | 0.2246 | +0.099% | $1.1M | $5.2M | 50x | as long as short |
| Polymarket Perps ARB-USD | −0.0025% | 1h | 0.2244 | +0.049% | $77K | $2.2M | 10x | as long as short |
Injective ARB/USDC PERP
01 Exchange ARBUSD
Variational Omni ARB
Bybit ARBUSDT
SoDEX ARB-USD
Deribit ARB_USDC-PERPETUAL
OKX ARB-USDT-SWAP
MEXC ARB_USDT
Kraken Futures PF_ARBUSD
Polymarket Perps ARB-USDShow all 36 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Orderly PERP_ARB_USDC | −0.0018% | 8h | 0.2244 | +0.031% | $11K | $388K | 10x | as long as short |
| Extended ARB-USD | −0.0008% | 1h | 0.2242 | −0.038% | $357K | $2.4M | 25x | as long as short |
| Binance ARBUSDT | −0.0007% | 8h | 0.2243 | 0.000% | $63.8M | $324.7M | 75x | as long as short |
| dYdX ARB-USD | 0.0000% | 1h | 0.2244 | +0.040% | $66K | $4K | 10x | as long as short |
| gTrade (Gains Network) ARB/USD | L +0.0005% / S −0.0005% | 1h | 0.2246 | +0.120% | $56K | — | 150x | as long as short |
| Gate ARB_USDTlong | +0.0012% | 8h | 0.2243 | long leg | $5.5M | $21.6M | 60x | |
| BloFin ARB-USDT | +0.0080% | 8h | 0.2244 | +0.022% | $3.0M | $3.3M | 75x | as long as short |
| Aevo ARB-PERP | +0.0080% | 1h | 0.2246 | +0.127% | $147K | $12K | 3x | as long as short |
| BingX ARB-USDT | +0.0086% | 8h | 0.2242 | −0.053% | — | $54.0M | — | as long as short |
| Bitget ARBUSDT | +0.0088% | 8h | 0.2242 | −0.058% | $21.0M | $38.4M | 50x | as long as short |
| Lighter ARB | +0.0096% | 1h | 0.2246 | +0.111% | $1.3M | $7.7M | 15x | as long as short |
| Hyperliquid ARB | +0.0100% | 1h | 0.2245 | +0.080% | $40.1M | $52.8M | 10x | as long as short |
| Aster ARBUSDT | +0.0100% | 8h | 0.2243 | −0.006% | $697K | $1.8M | 20x | as long as short |
| Pacifica ARB | +0.0100% | 1h | 0.2245 | +0.062% | $47K | $199K | 10x | as long as short |
| KuCoin ARBUSDTM | +0.0100% | 8h | 0.2244 | +0.036% | $20.6M | $17.0M | 75x | as long as short |
| edgeX ARBUSDC | +0.0100% | 4h | 0.2241 | −0.114% | $40K | $456K | 20x | as long as short |
| GRVT ARB_USDT_Perp | +0.0100% | 8h | 0.2241 | −0.103% | $483K | $4.1M | 10x | as long as short |
| ApeX Omni ARBUSDT | +0.0100% | 1h | 0.2242 | −0.058% | $121K | $297K | 50x | as long as short |
| SunX ARB-USDT | +0.0100% | 8h | 0.2245 | +0.076% | $2K | $1.1M | 30x | as long as short |
| HTX ARB-USDT | +0.0100% | 8h | 0.2244 | +0.022% | $276K | $1.2M | 50x | as long as short |
| Phemex ARBUSDT | +0.0100% | 8h | 0.2244 | +0.031% | $5.3M | $13.7M | 50x | as long as short |
| GMX ARB/USD [ARB-USDC] | L +0.0154% / S −0.0018% | 1h | 0.2246 | +0.113% | $852K | — | 150x | as long as short |
| Coinbase International ARB-PERP-INTX | +0.0288% | 1h | 0.2249 | +0.254% | $504K | $2.5M | 50x | as long as short |
| Reya ARBRUSDPERP | +0.0291% | 1h | 0.2244 | +0.039% | $2K | $695 | 20x | as long as short |
| RISEx ARB/USDC | +0.0546% | 1h | 0.2246 | +0.126% | $498K | $2.9M | 10x | as long as short |
| Backpack ARB_USDC_PERPshort | +0.0577% | 1h | 0.2248 | +0.192% | $1.1M | $2.7M | 20x |
Orderly PERP_ARB_USDC
Extended ARB-USD
Binance ARBUSDT
dYdX ARB-USD
gTrade (Gains Network) ARB/USD
BloFin ARB-USDT
Aevo ARB-PERP
BingX ARB-USDT
Bitget ARBUSDT
Lighter ARB
Hyperliquid ARB
Aster ARBUSDT
Pacifica ARB
KuCoin ARBUSDTM
edgeX ARBUSDC
GRVT ARB_USDT_Perp
ApeX Omni ARBUSDT
SunX ARB-USDT
HTX ARB-USDT
Phemex ARBUSDT
GMX ARB/USD [ARB-USDC]
Coinbase International ARB-PERP-INTX
Reya ARBRUSDPERP
RISEx ARB/USDC