BILL

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0317%/8h= −34.8% APRnext payment −$0.40 per $10,000 · paid last 24h −0.156%

Price spread now: Backpack against Coinbase International−0.073%7-day average — · you buy dearer than you sell

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

Long on Coinbase International Short on Backpack

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

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Backpack is 0.073% cheaper against Coinbase International than usual: you would sell low and buy high (−$7 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International BILL-PERP-INTX	0.01378	0.0632	pay 0.0079% / 1h	10m 43s	$46K	$51K	50x
Short	Backpack BILL_USDC_PERP	0.01377	0.0315	get 0.0039% / 1h	10m 43s	$21K	$923	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Coinbase International. 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 Coinbase InternationalbpFee BackpackbpOrdersPrice spread, now −0.073%Rate

Funding earned: −$66.67
Price spread: −0.073% → 0.000%: −$7.26
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$93.93
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Coinbase International: no order-book sample; Backpack: no order-book sample. 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 Coinbase International no order-book sample	—	—	—	—	—
Sell Backpack no order-book sample	—	—	—	—	—

Coinbase International and 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 15 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
Bybit BILLUSDT	+0.0100%	4h	0.01375	−0.218%	$1.3M	$962K	20x	as long as short
OKX BILL-USDT-SWAP	+0.0100%	4h	0.01379	+0.073%	$1.0M	$2.7M	20x	as long as short
Gate BILL_USDT	+0.0100%	4h	0.01379	+0.073%	$278K	$81K	20x	as long as short
Bitget BILLUSDT	+0.0100%	4h	0.01378	0.000%	$636K	$1.0M	20x	as long as short
SunX BILL-USDT	+0.0100%	4h	0.01381	+0.218%	$2K	$1.1M	20x	as long as short
Aster BILLUSDT	+0.0121%	4h	0.01380	+0.129%	$2K	$4K	5x	as long as short
Backpack BILL_USDC_PERPshort	+0.0315%	1h	0.01377	−0.073%	$21K	$923	5x
BingX BILL-USDT	+0.0316%	4h	0.01377	−0.073%	—	$1.7M	—	as long as short
MEXC BILL_USDT	+0.0332%	4h	0.01378	0.000%	$1.0M	$336K	50x	as long as short
Extended BILL-USD	+0.0336%	1h	0.01378	−0.031%	$1K	$225K	5x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance BILLUSDT	+0.0338%	4h	0.01378	+0.020%	$2.5M	$3.8M	20x	as long as short
HTX BILL-USDT	+0.0611%	4h	0.01378	0.000%	$17K	$8K	20x	as long as short
Coinbase International BILL-PERP-INTXlong	+0.0632%	1h	0.01378	long leg	$46K	$51K	50x
KuCoin BILLUSDTM	+0.1396%	4h	0.01379	+0.080%	$444K	$296K	20x	as long as short
Deribit BILL_USDC-PERPETUAL	+0.2220%	1h	0.01380	+0.123%	$108K	$14K	10x	as long as short