BILL

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.1364%/8h= +149.3% APRnext payment +$1.70 per $10,000 · paid last 24h +0.422%

Price spread now: Deribit against Coinbase International+0.618%7-day average −0.338% · you sell dearer than you buy

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

Long on Coinbase International Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)+0.908%+$91 on $10k

Price spread, last 3 days (all we have)−0.657%−$66 · spread now +0.618%, 7d avg −0.338%

Together, before fees+0.251%+$25 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$41 a day on $10k at the current rate, and Deribit is 0.956% dearer against Coinbase International than usual: you sell high and buy low: +$96 more if the spread goes back to its 7-day average of −0.338%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International BILL-PERP-INTX	0.01375	0.0632	pay 0.0079% / 1h	6m 27s	$46K	$51K	50x
Short	Deribit BILL_USDC-PERPETUAL	0.01384	0.1996	get 0.0249% / 1h	6m 27s	$108K	$14K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.618%Rate

Funding earned: $286.38
Price spread: +0.618% → −0.338%: $95.62
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $365
Costs to cover: 0.170%
Break-even: from the start

Slippage unknown: Coinbase International: no order-book sample; Deribit: live order book, 62 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 Deribit live order book, 62 min ago	12.99 bp	16.5 bp −$16	doesn't fit	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 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	0.01383	+0.582%	$1.3M	$959K	20x	as long as short
OKX BILL-USDT-SWAP	+0.0100%	4h	0.01384	+0.655%	$1.0M	$2.7M	20x	as long as short
Gate BILL_USDT	+0.0100%	4h	0.01383	+0.582%	$280K	$84K	20x	as long as short
Bitget BILLUSDT	+0.0100%	4h	0.01383	+0.582%	$637K	$1.0M	20x	as long as short
SunX BILL-USDT	+0.0100%	4h	0.01383	+0.582%	$2K	$1.1M	20x	as long as short
Aster BILLUSDT	+0.0149%	4h	0.01382	+0.509%	$2K	$4K	5x	as long as short
Backpack BILL_USDC_PERP	+0.0314%	1h	0.01382	+0.509%	$21K	$939	5x	as long as short
BingX BILL-USDT	+0.0340%	4h	0.01386	+0.800%	—	$1.7M	—	as long as short
Extended BILL-USD	+0.0344%	1h	0.01384	+0.631%	$1K	$225K	5x	as long as short
MEXC BILL_USDT	+0.0346%	4h	0.01384	+0.655%	$1.0M	$336K	50x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance BILLUSDT	+0.0365%	4h	0.01385	+0.720%	$2.5M	$3.8M	20x	as long as short
HTX BILL-USDT	+0.0510%	4h	0.01378	+0.218%	$13K	$22K	20x	as long as short
Coinbase International BILL-PERP-INTXlong	+0.0632%	1h	0.01375	long leg	$46K	$51K	50x
KuCoin BILLUSDTM	+0.1486%	4h	0.01384	+0.676%	$454K	$298K	20x	as long as short
Deribit BILL_USDC-PERPETUALshort	+0.1996%	1h	0.01384	+0.618%	$108K	$14K	10x