Funding arb · Price arb /

BILL

all BILL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0708%/8h= −77.5% APRpaid last 24h −0.030%

Price spread now: HTX against Coinbase International+0.476%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 HTX

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 pays, funding is against you. HTX is 0.476% dearer against Coinbase International than usual: you sell high and buy low (spread +0.476% now, against zero (this spread has no 7-day history yet)): +$48 on $10k if it goes back. Holding the pair costs −$21 a day in funding at the current rate, which eats that in about 2.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International BILL-PERP-INTX	0.01364	0.0808	pay 0.0101% / 1h	6m 57s	$38K	$100K	50x
Short	HTX BILL-USDT	0.01371	0.0100	get 0.0050% / 4h	1h 06m	$11K	$40K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.476%Rate

Funding earned: −$148.68
Price spread: +0.476% → 0.000%: $47.64
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$123.04
Costs to cover: 0.220%
Break-even: from the start

Slippage unknown: Coinbase International: no order-book sample; HTX: 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 HTX no order-book sample	—	—	—	—	—

Coinbase International and HTX: 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	+0.0070%	4h	0.01372	+0.550%	$148K	$17K	20x	as long as short
Aster BILLUSDT	+0.0100%	4h	0.01371	+0.464%	$3K	$5K	5x	as long as short
Bybit BILLUSDT	+0.0100%	4h	0.01372	+0.550%	$1.3M	$1.1M	20x	as long as short
Gate BILL_USDT	+0.0100%	4h	0.01374	+0.696%	$302K	$125K	20x	as long as short
SunX BILL-USDT	+0.0100%	4h	0.01378	+0.989%	$1K	$1.3M	20x	as long as short
HTX BILL-USDTshort	+0.0100%	4h	0.01371	+0.476%	$11K	$40K	20x
Backpack BILL_USDC_PERP	+0.0145%	1h	0.01374	+0.696%	$21K	$876	5x	as long as short
MEXC BILL_USDT	+0.0232%	4h	0.01374	+0.696%	$1.0M	$341K	50x	as long as short
Bitget BILLUSDT	+0.0232%	4h	0.01381	+1.209%	$664K	$1.4M	20x	as long as short
Binance BILLUSDT	+0.0237%	4h	0.01374	+0.696%	$2.5M	$4.4M	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	+0.0240%	1h	0.01376	+0.814%	$4K	$258K	5x	as long as short
BingX BILL-USDT	+0.0388%	4h	0.01375	+0.770%	—	$1.7M	—	as long as short
OKX BILL-USDT-SWAP	+0.0538%	4h	0.01375	+0.770%	$1.2M	$3.0M	20x	as long as short
Coinbase International BILL-PERP-INTXlong	+0.0808%	1h	0.01364	long leg	$38K	$100K	50x
KuCoin BILLUSDTM	+0.0824%	4h	0.01375	+0.748%	$451K	$345K	20x	as long as short
Deribit BILL_USDC-PERPETUAL	+0.4346%	1h	0.01377	+0.923%	$149K	$53K	10x	as long as short