Funding arb · Price arb /

BILL

all BILL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.1991%/8h= +218.0% APRpaid last 24h +0.447%

Price spread now: Deribit against HTX−0.044%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 Deribit

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. Deribit is 0.044% cheaper against HTX than usual: you would sell low and buy high (spread −0.044% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 2 hours of funding at the current rate (+$60 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX BILL-USDT	0.01371	0.0100	pay 0.0050% / 4h	2h 39m	$11K	$39K	20x
Short	Deribit BILL_USDC-PERPETUAL	0.01370	0.2091	get 0.0261% / 1h	39m 58s	$107K	$12K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.044%Rate

Funding earned: $418.02
Price spread: −0.044% → 0.000%: −$4.38
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $394.64
Costs to cover: 0.190%
Break-even: 0.4 days

Slippage unknown: HTX: no order-book sample; Deribit: live order book, 8 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 HTX no order-book sample	—	—	—	—	—
Sell Deribit live order book, 8 min ago	5.83 bp	9.3 bp −$9	doesn't fit	doesn't fit	doesn't fit

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	+0.0078%	4h	0.01367	−0.292%	$113K	$17K	20x	as long as short
Aster BILLUSDT	+0.0100%	4h	0.01370	−0.044%	$1K	$4K	5x	as long as short
Bybit BILLUSDT	+0.0100%	4h	0.01368	−0.219%	$1.3M	$1.0M	20x	as long as short
Gate BILL_USDT	+0.0100%	4h	0.01369	−0.146%	$278K	$90K	20x	as long as short
SunX BILL-USDT	+0.0100%	4h	0.01372	+0.073%	$1K	$1.2M	20x	as long as short
HTX BILL-USDTlong	+0.0100%	4h	0.01371	long leg	$11K	$39K	20x
Binance BILLUSDT	+0.0141%	4h	0.01370	−0.082%	$2.5M	$4.0M	20x	as long as short
Extended BILL-USD	+0.0144%	1h	0.01370	−0.100%	$4K	$261K	5x	as long as short
MEXC BILL_USDT	+0.0146%	4h	0.01369	−0.146%	$998K	$339K	50x	as long as short
Bitget BILLUSDT	+0.0278%	4h	0.01369	−0.146%	$645K	$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	+0.0316%	1h	0.01368	−0.219%	$21K	$1K	5x	as long as short
BingX BILL-USDT	+0.0490%	4h	0.01371	0.000%	—	$1.7M	—	as long as short
OKX BILL-USDT-SWAP	+0.0520%	4h	0.01370	−0.073%	$1.1M	$2.9M	20x	as long as short
KuCoin BILLUSDTM	+0.0712%	4h	0.01369	−0.117%	$454K	$337K	20x	as long as short
Coinbase International BILL-PERP-INTX	+0.0832%	1h	0.01370	−0.102%	$38K	$98K	50x	as long as short
Deribit BILL_USDC-PERPETUALshort	+0.2091%	1h	0.01370	−0.044%	$107K	$12K	10x