BILL

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0402%/8h= +44.0% APRnext payment +$0.50 per $10,000 · paid last 24h +0.162%

Price spread now: Coinbase International against Backpack−0.007%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Backpack Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$12 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack BILL_USDC_PERP	0.01386	0.0230	pay 0.0029% / 1h	43m 58s	$22K	$926	5x
Short	Coinbase International BILL-PERP-INTX	0.01386	0.0632	get 0.0079% / 1h	43m 58s	$47K	$100K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Backpack. 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 BackpackbpFee Coinbase InternationalbpOrdersPrice spread, now −0.007%Rate

Funding earned: $84.38
Price spread: −0.007% → 0.000%: −$0.72
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $63.66
Costs to cover: 0.200%
Break-even: 1.7 days

Slippage unknown: Backpack: no order-book sample; Coinbase International: live order book, 54 min ago. Net counts fees only.

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 Backpack no order-book sample	—	—	—	—	—
Sell Coinbase International live order book, 54 min ago	8.34 bp	13.3 bp −$13	20.2 bp −$202	doesn't fit	doesn't fit

Backpack: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

BILL on 16 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
Aster BILLUSDT	+0.0100%	4h	0.01386	+0.035%	$2K	$4K	5x	as long as short
Bybit BILLUSDT	+0.0100%	4h	0.01386	0.000%	$1.3M	$937K	20x	as long as short
OKX BILL-USDT-SWAP	+0.0100%	4h	0.01386	0.000%	$1.0M	$2.5M	20x	as long as short
Gate BILL_USDT	+0.0100%	4h	0.01386	0.000%	$280K	$82K	20x	as long as short
Bitget BILLUSDT	+0.0100%	4h	0.01386	0.000%	$631K	$847K	20x	as long as short
SunX BILL-USDT	+0.0100%	4h	0.01389	+0.216%	$2K	$1.1M	20x	as long as short
BloFin BILL-USDT	+0.0109%	4h	0.01389	+0.216%	$145K	$19K	20x	as long as short
Backpack BILL_USDC_PERPlong	+0.0230%	1h	0.01386	long leg	$22K	$926	5x
MEXC BILL_USDT	+0.0314%	4h	0.01386	0.000%	$1.0M	$320K	50x	as long as short
Binance BILLUSDT	+0.0319%	4h	0.01387	+0.052%	$2.5M	$3.6M	20x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended BILL-USD	+0.0320%	1h	0.01386	+0.018%	$2K	$235K	5x	as long as short
BingX BILL-USDT	+0.0322%	4h	0.01388	+0.144%	—	$1.7M	—	as long as short
Coinbase International BILL-PERP-INTXshort	+0.0632%	1h	0.01386	−0.007%	$47K	$100K	50x
HTX BILL-USDT	+0.0710%	4h	0.01391	+0.361%	$17K	$8K	20x	as long as short
KuCoin BILLUSDTM	+0.0978%	4h	0.01388	+0.108%	$443K	$278K	20x	as long as short
Deribit BILL_USDC-PERPETUAL	+0.2062%	1h	0.01387	+0.101%	$108K	$14K	10x	as long as short