Funding you earn now, next payment 23:00 UTC+0.0800%/8h= +87.6% APRpaid last 24h +0.112%
Price spread now: Backpack against MEXC−0.004%7-day average +0.814% · you buy dearer than you sell
Net, funding: paid 7d − costs+$5as in the Funding arb table
Net, price: spread back to 7d avg − costs−$107as in the Price arb table
costs, in and out, $10k−$250.254% of the position
Funding, last 7 days+0.306%+$31 on $10k
+Price spread, last 7 days−0.092%−$9 · spread now −0.004%, 7d avg +0.814%
=Funding pays, the price is against you. Backpack is 0.818% cheaper against MEXC than usual: you would sell low and buy high (spread −0.004% now, against its 7-day average of +0.814%). If the spread goes back, that is −$82 on $10k: about 3.4 days of funding at the current rate (+$24 a day). At the pace of the last 7 days (+0.306% in total) that is about 19 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.306% in total (about 15.9% 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 | MEXC ARB_USDT | 0.2227 | −0.0109 | get 0.0109% / 8h | 1h 55m | $36.7M | $62.0M | 200x |
| Short | Backpack ARB_USDC_PERP | 0.2227 | 0.0691 | get 0.0086% / 1h | 55m 18s | $1.1M | $2.7M | 20x |
MEXC ARB_USDT
Backpack ARB_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against MEXC. 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
- $168.01
- Price spread: −0.004% → +0.814%
- −$81.81
- Slippage, 4 orders
- −$15.38
- Fee MEXC: 0 bp × 2 orders
- $0
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $60.81
- Costs to cover
- 0.254%
- Break-even
- 4.5 days
Slippage from MEXC: live order book, 4 min ago; Backpack: 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 MEXC live order book, 4 min ago | 0.22 bp | 1.5 bp −$2 | 8.6 bp −$86 | 40.1 bp −$4,006 | 67.5 bp −$33.8K |
| Sell Backpack live order book, 4 min ago | 0.22 bp | 8.2 bp −$8 | 328.0 bp −$3,280 | 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 | 0.2213 | −0.624% | $40K | $283K | 12x | as long as short |
| 01 Exchange ARBUSD | −0.0200% | 1h | 0.2225 | −0.063% | $7K | $2K | 10x | as long as short |
| Variational Omni ARB | −0.0157% | 8h | 0.2221 | −0.244% | $1.9M | $2.8M | — | as long as short |
| Bybit ARBUSDT | −0.0131% | 8h | 0.2226 | −0.040% | $57.3M | $136.2M | 50x | as long as short |
| MEXC ARB_USDTlong | −0.0109% | 8h | 0.2227 | long leg | $36.7M | $62.0M | 200x | |
| OKX ARB-USDT-SWAP | −0.0109% | 8h | 0.2228 | +0.027% | $22.2M | $163.5M | 50x | as long as short |
| Orderly PERP_ARB_USDC | −0.0023% | 8h | 0.2227 | +0.004% | $10K | $391K | 10x | as long as short |
| Binance ARBUSDT | −0.0016% | 8h | 0.2228 | +0.039% | $63.4M | $323.7M | 75x | as long as short |
| Extended ARB-USD | −0.0016% | 1h | 0.2227 | −0.017% | $353K | $2.4M | 25x | as long as short |
| dYdX ARB-USD | 0.0000% | 1h | 0.2225 | −0.094% | $66K | $4K | 10x | as long as short |
Injective ARB/USDC PERP
01 Exchange ARBUSD
Variational Omni ARB
Bybit ARBUSDT
OKX ARB-USDT-SWAP
Orderly PERP_ARB_USDC
Binance ARBUSDT
Extended ARB-USD
dYdX ARB-USDShow all 36 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Deribit ARB_USDC-PERPETUAL | 0.0000% | 1h | 0.2228 | +0.063% | $26K | $32K | 25x | as long as short |
| gTrade (Gains Network) ARB/USD | L +0.0005% / S −0.0005% | 1h | 0.2228 | +0.039% | $55K | — | 150x | as long as short |
| Gate ARB_USDT | +0.0010% | 8h | 0.2227 | +0.004% | $5.5M | $20.6M | 60x | as long as short |
| SoDEX ARB-USD | +0.0064% | 1h | 0.2227 | +0.022% | $4K | $2.9M | 5x | as long as short |
| Aevo ARB-PERP | +0.0080% | 1h | 0.2228 | +0.056% | $146K | $12K | 3x | as long as short |
| Kraken Futures PF_ARBUSD | +0.0085% | 1h | 0.2231 | +0.164% | $1.1M | $5.2M | 50x | as long as short |
| Bitget ARBUSDT | +0.0088% | 8h | 0.2227 | +0.004% | $20.9M | $38.1M | 50x | as long as short |
| BingX ARB-USDT | +0.0089% | 8h | 0.2227 | −0.013% | — | $53.8M | — | as long as short |
| Lighter ARB | +0.0096% | 1h | 0.2229 | +0.099% | $1.3M | $7.3M | 15x | as long as short |
| Hyperliquid ARB | +0.0100% | 1h | 0.2229 | +0.112% | $39.8M | $52.6M | 10x | as long as short |
| Aster ARBUSDT | +0.0100% | 8h | 0.2226 | −0.037% | $691K | $1.7M | 20x | as long as short |
| Pacifica ARB | +0.0100% | 1h | 0.2225 | −0.105% | $44K | $200K | 10x | as long as short |
| KuCoin ARBUSDTM | +0.0100% | 8h | 0.2229 | +0.076% | $20.5M | $17.0M | 75x | as long as short |
| edgeX ARBUSDC | +0.0100% | 4h | 0.2218 | −0.395% | $36K | $456K | 20x | as long as short |
| GRVT ARB_USDT_Perp | +0.0100% | 8h | 0.2220 | −0.313% | $477K | $4.0M | 10x | as long as short |
| ApeX Omni ARBUSDT | +0.0100% | 1h | 0.2221 | −0.265% | $120K | $296K | 50x | as long as short |
| Polymarket Perps ARB-USD | +0.0100% | 1h | 0.2227 | +0.004% | $76K | $2.2M | 10x | as long as short |
| SunX ARB-USDT | +0.0100% | 8h | 0.2226 | −0.040% | $2K | $1.1M | 30x | as long as short |
| HTX ARB-USDT | +0.0100% | 8h | 0.2228 | +0.027% | $275K | $1.2M | 50x | as long as short |
| Phemex ARBUSDT | +0.0100% | 8h | 0.2228 | +0.049% | $5.2M | $13.6M | 50x | as long as short |
| BloFin ARB-USDT | +0.0104% | 8h | 0.2229 | +0.085% | $3.0M | $3.3M | 75x | as long as short |
| Coinbase International ARB-PERP-INTX | +0.0264% | 1h | 0.2231 | +0.184% | $506K | $2.5M | 50x | as long as short |
| GMX ARB/USD [ARB-USDC] | L +0.0274% / S −0.0157% | 1h | 0.2228 | +0.054% | $833K | — | 150x | as long as short |
| Reya ARBRUSDPERP | +0.0291% | 1h | 0.2227 | −0.018% | $2K | $695 | 20x | as long as short |
| RISEx ARB/USDC | +0.0363% | 1h | 0.2227 | −0.016% | $491K | $2.8M | 10x | as long as short |
| Backpack ARB_USDC_PERPshort | +0.0691% | 1h | 0.2227 | −0.004% | $1.1M | $2.7M | 20x |
Deribit ARB_USDC-PERPETUAL
gTrade (Gains Network) ARB/USD
Gate ARB_USDT
SoDEX ARB-USD
Aevo ARB-PERP
Kraken Futures PF_ARBUSD
Bitget ARBUSDT
BingX ARB-USDT
Lighter ARB
Hyperliquid ARB
Aster ARBUSDT
Pacifica ARB
KuCoin ARBUSDTM
edgeX ARBUSDC
GRVT ARB_USDT_Perp
ApeX Omni ARBUSDT
Polymarket Perps ARB-USD
SunX ARB-USDT
HTX ARB-USDT
Phemex ARBUSDT
BloFin ARB-USDT
Coinbase International ARB-PERP-INTX
GMX ARB/USD [ARB-USDC]
Reya ARBRUSDPERP
RISEx ARB/USDC