Funding arb · Price arb /

ARB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0532%/8h= +58.3% APRpaid last 24h +0.083%

Price spread now: Backpack against HTX+0.197%7-day average +0.076% · you sell dearer than you buy

Net, funding: paid 7d − costs−$78as in the Funding arb table

Net, price: spread back to 7d avg − costs−$77as in the Price arb table

costs, in and out, $10k−$890.895% of the position

Long on HTX Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.113%+$11 on $10k

Price spread, last 3 days (all we have)−0.930%−$93 · spread now +0.197%, 7d avg +0.076%

Together, before fees−0.817%−$82 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$16 a day on $10k at the current rate, and Backpack is 0.121% dearer against HTX than usual: you sell high and buy low: +$12 more if the spread goes back to its 7-day average of +0.076%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.113% in total (about 5.9% 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	HTX ARB-USDT	0.2234	0.0100	pay 0.0100% / 8h	1h 40m	$276K	$1.2M	50x
Short	Backpack ARB_USDC_PERP	0.2239	0.0632	get 0.0079% / 1h	40m 48s	$1.1M	$2.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against HTX. 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 HTXbpFee BackpackbpOrdersPrice spread, now +0.197%Rate

Funding earned: $111.82
Price spread: +0.197% → +0.076%: $12.13
Slippage, 4 orders: −$67.5
Fee HTX: 6 bp × 2 orders: −$12
Fee Backpack: 5 bp × 2 orders: −$10
Net: $34.45
Costs to cover: 0.895%
Break-even: 4.8 days

Slippage from HTX: live order book, 3 min ago; Backpack: live order book, 3 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 HTX live order book, 3 min ago	11.20 bp	39.7 bp −$40	doesn't fit	doesn't fit	doesn't fit
Sell Backpack live order book, 3 min ago	0.45 bp	8.0 bp −$8	226.4 bp −$2,264	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	−0.1770%	1h	0.2226	−0.371%	$40K	$283K	12x	as long as short
01 Exchange ARBUSD	−0.0224%	1h	0.2236	+0.090%	$7K	$2K	10x	as long as short
Variational Omni ARB	−0.0157%	8h	0.2228	−0.280%	$1.9M	$2.8M	—	as long as short
Bybit ARBUSDT	−0.0138%	8h	0.2236	+0.098%	$57.6M	$135.7M	50x	as long as short
OKX ARB-USDT-SWAP	−0.0101%	8h	0.2237	+0.107%	$22.3M	$163.5M	50x	as long as short
MEXC ARB_USDT	−0.0101%	8h	0.2235	+0.040%	$37.3M	$62.4M	200x	as long as short
Polymarket Perps ARB-USD	−0.0053%	1h	0.2235	+0.022%	$76K	$2.2M	10x	as long as short
SoDEX ARB-USD	−0.0051%	1h	0.2235	+0.022%	$4K	$2.8M	5x	as long as short
Orderly PERP_ARB_USDC	−0.0025%	8h	0.2234	−0.013%	$10K	$394K	10x	as long as short
Deribit ARB_USDC-PERPETUAL	−0.0018%	1h	0.2235	+0.049%	$26K	$32K	25x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ARBUSDT	−0.0011%	8h	0.2237	+0.108%	$63.8M	$322.7M	75x	as long as short
Extended ARB-USD	−0.0008%	1h	0.2234	−0.009%	$355K	$2.4M	25x	as long as short
dYdX ARB-USD	0.0000%	1h	0.2238	+0.155%	$66K	$4K	10x	as long as short
gTrade (Gains Network) ARB/USD	L +0.0005% / S −0.0005%	1h	0.2236	+0.094%	$56K	—	150x	as long as short
Gate ARB_USDT	+0.0025%	8h	0.2237	+0.121%	$5.5M	$20.7M	60x	as long as short
Aevo ARB-PERP	+0.0080%	1h	0.2236	+0.076%	$146K	$12K	3x	as long as short
BingX ARB-USDT	+0.0081%	8h	0.2237	+0.121%	—	$53.6M	—	as long as short
Bitget ARBUSDT	+0.0082%	8h	0.2237	+0.121%	$21.0M	$38.0M	50x	as long as short
Kraken Futures PF_ARBUSD	+0.0085%	1h	0.2237	+0.132%	$1.1M	$5.2M	50x	as long as short
Lighter ARB	+0.0096%	1h	0.2236	+0.098%	$1.3M	$7.4M	15x	as long as short
Hyperliquid ARB	+0.0100%	1h	0.2238	+0.152%	$39.9M	$52.3M	10x	as long as short
Aster ARBUSDT	+0.0100%	8h	0.2236	+0.068%	$695K	$1.7M	20x	as long as short
Pacifica ARB	+0.0100%	1h	0.2238	+0.173%	$44K	$197K	10x	as long as short
KuCoin ARBUSDTM	+0.0100%	8h	0.2236	+0.094%	$20.6M	$16.8M	75x	as long as short
edgeX ARBUSDC	+0.0100%	4h	0.2234	−0.026%	$36K	$457K	20x	as long as short
GRVT ARB_USDT_Perp	+0.0100%	8h	0.2232	−0.103%	$480K	$4.0M	10x	as long as short
ApeX Omni ARBUSDT	+0.0100%	1h	0.2232	−0.103%	$121K	$294K	50x	as long as short
SunX ARB-USDT	+0.0100%	8h	0.2237	+0.121%	$2K	$1.1M	30x	as long as short
HTX ARB-USDTlong	+0.0100%	8h	0.2234	long leg	$276K	$1.2M	50x
Phemex ARBUSDT	+0.0100%	8h	0.2235	+0.031%	$5.2M	$13.5M	50x	as long as short
BloFin ARB-USDT	+0.0109%	8h	0.2235	+0.013%	$3.0M	$3.3M	75x	as long as short
Coinbase International ARB-PERP-INTX	+0.0264%	1h	0.2240	+0.264%	$508K	$2.4M	50x	as long as short
GMX ARB/USD [ARB-USDC]	L +0.0274% / S −0.0157%	1h	0.2236	+0.085%	$836K	—	150x	as long as short
Reya ARBRUSDPERP	+0.0291%	1h	0.2234	−0.014%	$2K	$695	20x	as long as short
RISEx ARB/USDC	+0.0363%	1h	0.2239	+0.204%	$494K	$2.7M	10x	as long as short
Backpack ARB_USDC_PERPshort	+0.0632%	1h	0.2239	+0.197%	$1.1M	$2.7M	20x