Funding arb · Price arb /

BILL

all BILL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0686%/8h= −75.1% APRpaid last 24h −0.146%

Price spread now: Binance against Coinbase International+0.102%7-day average — · you sell dearer than you buy

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

Long on Coinbase International Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−1.036%−$104 on $10k

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

Together, before fees—needs both histories

The price spread pays, funding is against you. Binance is 0.102% dearer against Coinbase International than usual: you sell high and buy low (spread +0.102% now, against zero (this spread has no 7-day history yet)): +$10 on $10k if it goes back. Holding the pair costs −$21 a day in funding at the current rate, which eats that in about 12 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International BILL-PERP-INTX	0.01370	0.0832	pay 0.0104% / 1h	41m 12s	$38K	$98K	50x
Short	Binance BILLUSDT	0.01371	0.0146	get 0.0073% / 4h	2h 41m	$2.5M	$4.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Coinbase International. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 BinancebpOrdersPrice spread, now +0.102%Rate

Funding earned: −$144.04
Price spread: +0.102% → 0.000%: $10.22
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$153.82
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Coinbase International: no order-book sample; Binance: live order book, 10 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 Coinbase International no order-book sample	—	—	—	—	—
Sell Binance live order book, 10 min ago	3.63 bp	32.3 bp −$32	148.4 bp −$1,484	doesn't fit	doesn't fit

Coinbase International: 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
BloFin BILL-USDT	+0.0078%	4h	0.01367	−0.190%	$113K	$17K	20x	as long as short
Aster BILLUSDT	+0.0100%	4h	0.01371	+0.136%	$1K	$4K	5x	as long as short
Bybit BILLUSDT	+0.0100%	4h	0.01369	−0.044%	$1.3M	$1.0M	20x	as long as short
Gate BILL_USDT	+0.0100%	4h	0.01370	+0.029%	$278K	$90K	20x	as long as short
SunX BILL-USDT	+0.0100%	4h	0.01373	+0.248%	$1K	$1.2M	20x	as long as short
HTX BILL-USDT	+0.0100%	4h	0.01370	+0.029%	$11K	$39K	20x	as long as short
Extended BILL-USD	+0.0144%	1h	0.01372	+0.150%	$4K	$261K	5x	as long as short
MEXC BILL_USDT	+0.0146%	4h	0.01372	+0.175%	$1.0M	$339K	50x	as long as short
Binance BILLUSDTshort	+0.0146%	4h	0.01371	+0.102%	$2.5M	$4.0M	20x
Bitget BILLUSDT	+0.0276%	4h	0.01372	+0.175%	$646K	$1.2M	20x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Backpack BILL_USDC_PERP	+0.0324%	1h	0.01369	−0.044%	$21K	$1K	5x	as long as short
BingX BILL-USDT	+0.0490%	4h	0.01373	+0.248%	—	$1.7M	—	as long as short
OKX BILL-USDT-SWAP	+0.0522%	4h	0.01371	+0.102%	$1.1M	$2.9M	20x	as long as short
KuCoin BILLUSDTM	+0.0724%	4h	0.01371	+0.080%	$457K	$338K	20x	as long as short
Coinbase International BILL-PERP-INTXlong	+0.0832%	1h	0.01370	long leg	$38K	$98K	50x
Deribit BILL_USDC-PERPETUAL	+0.2087%	1h	0.01372	+0.197%	$107K	$12K	10x	as long as short