Funding arb · Price arb /

BILL

all BILL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0117%/8h= +12.8% APRpaid last 24h −0.142%

Price spread now: Backpack against HTX−0.580%7-day average — · you buy dearer than you sell

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

Long on HTX 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

Funding pays, the price is against you. Backpack is 0.580% cheaper against HTX than usual: you would sell low and buy high (spread −0.580% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$58 on $10k: about 16 days of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX BILL-USDT	0.01379	0.0548	pay 0.0274% / 4h	2h 56m	$17K	$8K	20x
Short	Backpack BILL_USDC_PERP	0.01371	0.0666	get 0.0083% / 1h	56m 43s	$21K	$926	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against HTX. 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 HTXbpFee BackpackbpOrdersPrice spread, now −0.580%Rate

Funding earned: $24.63
Price spread: −0.580% → 0.000%: −$58.01
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$55.39
Costs to cover: 0.220%
Break-even: 22.7 days

Slippage unknown: HTX: 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 HTX no order-book sample	—	—	—	—	—
Sell Backpack no order-book sample	—	—	—	—	—

HTX 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 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	+0.0089%	4h	0.01376	−0.218%	$147K	$19K	20x	as long as short
Aster BILLUSDT	+0.0100%	4h	0.01371	−0.566%	$2K	$4K	5x	as long as short
Bybit BILLUSDT	+0.0100%	4h	0.01368	−0.798%	$1.3M	$951K	20x	as long as short
OKX BILL-USDT-SWAP	+0.0100%	4h	0.01369	−0.725%	$1.0M	$2.5M	20x	as long as short
Gate BILL_USDT	+0.0100%	4h	0.01370	−0.653%	$276K	$75K	20x	as long as short
Bitget BILLUSDT	+0.0100%	4h	0.01369	−0.725%	$623K	$903K	20x	as long as short
SunX BILL-USDT	+0.0100%	4h	0.01375	−0.290%	$1K	$1.1M	20x	as long as short
Binance BILLUSDT	+0.0203%	4h	0.01371	−0.590%	$2.4M	$3.7M	20x	as long as short
Extended BILL-USD	+0.0208%	1h	0.01370	−0.643%	$2K	$224K	5x	as long as short
MEXC BILL_USDT	+0.0210%	4h	0.01370	−0.653%	$1.0M	$328K	50x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BILL-USDT	+0.0240%	4h	0.01368	−0.798%	—	$1.7M	—	as long as short
HTX BILL-USDTlong	+0.0548%	4h	0.01379	long leg	$17K	$8K	20x
Coinbase International BILL-PERP-INTX	+0.0632%	1h	0.01374	−0.399%	$47K	$99K	50x	as long as short
Backpack BILL_USDC_PERPshort	+0.0666%	1h	0.01371	−0.580%	$21K	$926	5x
KuCoin BILLUSDTM	+0.0810%	4h	0.01373	−0.457%	$441K	$286K	20x	as long as short
Deribit BILL_USDC-PERPETUAL	+0.2231%	1h	0.01374	−0.370%	$107K	$14K	10x	as long as short