Funding you earn now, next payment 02:00 UTC+0.0658%/8h= +72.0% APRpaid last 24h +0.146%
Price spread now: Backpack against OKX+0.172%7-day average +0.939% · you sell dearer than you buy
Net, funding: paid 7d − costs−$1as in the Funding arb table
Net, price: spread back to 7d avg − costs−$113as in the Price arb table
costs, in and out, $10k−$360.358% of the position
Funding, last 7 days+0.348%+$35 on $10k
+Price spread, last 7 days+0.179%+$18 · spread now +0.172%, 7d avg +0.939%
=Funding pays, the price is against you. Backpack is 0.767% cheaper against OKX than usual: you would sell low and buy high (spread +0.172% now, against its 7-day average of +0.939%). If the spread goes back, that is −$77 on $10k: about 3.9 days of funding at the current rate (+$20 a day). At the pace of the last 7 days (+0.348% in total) that is about 15 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.348% in total (about 18.1% 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 | OKX ARB-USDT-SWAP | 0.2215 | −0.0112 | get 0.0112% / 8h | 6h 32m | $22.4M | $157.1M | 50x |
| Short | Backpack ARB_USDC_PERP | 0.2219 | 0.0546 | get 0.0068% / 1h | 32m 40s | $1.0M | $2.9M | 20x |
OKX ARB-USDT-SWAP
Backpack ARB_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against OKX. 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
- $138.16
- Price spread: +0.172% → +0.939%
- −$76.74
- Slippage, 4 orders
- −$15.8
- Fee OKX: 5 bp × 2 orders
- −$10
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $25.62
- Costs to cover
- 0.358%
- Break-even
- 5.7 days
Slippage from OKX: live order book, 1 min ago; Backpack: live order book, 1 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 OKX live order book, 1 min ago | 0.22 bp | 8.0 bp −$8 | 25.1 bp −$251 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 1 min ago | 0.90 bp | 7.3 bp −$7 | 299.9 bp −$2,999 | doesn't fit | doesn't fit |
ARB on 35 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 | −0.1692% | 1h | 0.2212 | −0.158% | $40K | $372K | 12x | as long as short |
| 01 Exchange ARBUSD | −0.0232% | 1h | 0.2217 | +0.072% | $7K | $2K | 10x | as long as short |
| SoDEX ARB-USD | −0.0214% | 1h | 0.2217 | +0.072% | $10K | $2.5M | 5x | as long as short |
| Variational Omni ARB | −0.0176% | 8h | 0.2226 | +0.492% | $1.9M | $2.9M | — | as long as short |
| ApeX Omni ARBUSDT | −0.0156% | 1h | 0.2226 | +0.474% | $120K | $296K | 50x | as long as short |
| OKX ARB-USDT-SWAPlong | −0.0112% | 8h | 0.2215 | long leg | $22.4M | $157.1M | 50x | |
| MEXC ARB_USDT | −0.0111% | 8h | 0.2218 | +0.095% | $40.4M | $59.6M | 200x | as long as short |
| Bybit ARBUSDT | −0.0065% | 8h | 0.2215 | −0.005% | $57.0M | $129.0M | 50x | as long as short |
| Gate ARB_USDT | −0.0061% | 8h | 0.2217 | +0.077% | $5.4M | $19.7M | 60x | as long as short |
| Orderly PERP_ARB_USDC | −0.0058% | 8h | 0.2217 | +0.068% | $13K | $381K | 10x | as long as short |
Injective ARB/USDC PERP
01 Exchange ARBUSD
SoDEX ARB-USD
Variational Omni ARB
ApeX Omni ARBUSDT
MEXC ARB_USDT
Bybit ARBUSDT
Gate ARB_USDT
Orderly PERP_ARB_USDCShow all 35 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Deribit ARB_USDC-PERPETUAL | −0.0020% | 1h | 0.2218 | +0.122% | $24K | $34K | 25x | as long as short |
| dYdX ARB-USD | 0.0000% | 1h | 0.2219 | +0.138% | $66K | $5K | 10x | as long as short |
| gTrade (Gains Network) ARB/USD | L +0.0004% / S −0.0002% | 1h | 0.2218 | +0.132% | $21K | — | 150x | as long as short |
| Binance ARBUSDT | +0.0005% | 8h | 0.2219 | +0.149% | $64.7M | $318.4M | 75x | as long as short |
| Extended ARB-USD | +0.0008% | 1h | 0.2216 | +0.038% | $355K | $2.5M | 25x | as long as short |
| Aevo ARB-PERP | +0.0080% | 1h | 0.2219 | +0.143% | $141K | $7K | 3x | as long as short |
| Lighter ARB | +0.0096% | 1h | 0.2218 | +0.122% | $1.2M | $7.4M | 15x | as long as short |
| Hyperliquid ARB | +0.0100% | 1h | 0.2218 | +0.108% | $38.2M | $50.6M | 10x | as long as short |
| Aster ARBUSDT | +0.0100% | 8h | 0.2218 | +0.112% | $660K | $1.7M | 20x | as long as short |
| Pacifica ARB | +0.0100% | 1h | 0.2218 | +0.104% | $42K | $188K | 10x | as long as short |
| KuCoin ARBUSDTM | +0.0100% | 8h | 0.2218 | +0.095% | $19.6M | $15.8M | 75x | as long as short |
| Bitget ARBUSDT | +0.0100% | 8h | 0.2216 | +0.023% | $21.2M | $36.2M | 50x | as long as short |
| BingX ARB-USDT | +0.0100% | 8h | 0.2217 | +0.068% | — | $54.6M | — | as long as short |
| edgeX ARBUSDC | +0.0100% | 4h | 0.2225 | +0.417% | $40K | $463K | 20x | as long as short |
| GRVT ARB_USDT_Perp | +0.0100% | 8h | 0.2225 | +0.428% | $473K | $3.7M | 10x | as long as short |
| Polymarket Perps ARB-USD | +0.0100% | 1h | 0.2219 | +0.162% | $77K | $2.1M | 10x | as long as short |
| SunX ARB-USDT | +0.0100% | 8h | 0.2217 | +0.068% | $1K | $1.1M | 30x | as long as short |
| HTX ARB-USDT | +0.0100% | 8h | 0.2217 | +0.077% | $296K | $1.0M | 50x | as long as short |
| Phemex ARBUSDT | +0.0100% | 8h | 0.2218 | +0.113% | $5.0M | $13.0M | 50x | as long as short |
| Coinbase International ARB-PERP-INTX | +0.0240% | 1h | 0.2227 | +0.519% | $509K | $2.1M | 50x | as long as short |
| GMX ARB/USD [ARB-USDC] | L +0.0273% / S −0.0155% | 1h | 0.2219 | +0.149% | $828K | — | 150x | as long as short |
| Reya ARBRUSDPERP | +0.0290% | 1h | 0.2217 | +0.081% | $2K | $695 | 20x | as long as short |
| Kraken Futures PF_ARBUSD | +0.0311% | 1h | 0.2218 | +0.134% | $1.1M | $4.7M | 50x | as long as short |
| RISEx ARB/USDC | +0.0466% | 1h | 0.2219 | +0.147% | $468K | $2.6M | 10x | as long as short |
| Backpack ARB_USDC_PERPshort | +0.0546% | 1h | 0.2219 | +0.172% | $1.0M | $2.9M | 20x |
Deribit ARB_USDC-PERPETUAL
dYdX ARB-USD
gTrade (Gains Network) ARB/USD
Binance ARBUSDT
Extended ARB-USD
Aevo ARB-PERP
Lighter ARB
Hyperliquid ARB
Aster ARBUSDT
Pacifica ARB
KuCoin ARBUSDTM
Bitget ARBUSDT
BingX ARB-USDT
edgeX ARBUSDC
GRVT ARB_USDT_Perp
Polymarket Perps ARB-USD
SunX ARB-USDT
HTX ARB-USDT
Phemex ARBUSDT
Coinbase International ARB-PERP-INTX
GMX ARB/USD [ARB-USDC]
Reya ARBRUSDPERP
Kraken Futures PF_ARBUSD
RISEx ARB/USDC