Funding arb · Price arb /

BILL

all BILL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0112%/8h= +12.3% APRpaid last 24h +0.034%

Price spread now: Backpack against OKX0.000%7-day average — · you sell dearer than you buy

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

Long on OKX 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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX BILL-USDT-SWAP	0.01387	0.0100	pay 0.0050% / 4h	3h 43m	$1.0M	$2.5M	20x
Short	Backpack BILL_USDC_PERP	0.01387	0.0212	get 0.0027% / 1h	43m 04s	$22K	$926	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against OKX. 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 OKXbpFee BackpackbpOrdersPrice spread, now 0.000%Rate

Funding earned: $23.61
Price spread: 0.000% → 0.000%: $0
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: $3.61
Costs to cover: 0.200%
Break-even: 5.9 days

Slippage unknown: OKX: live order book, 4 min ago; 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 OKX live order book, 4 min ago	7.21 bp	20.8 bp −$21	212.8 bp −$2,128	doesn't fit	doesn't fit
Sell Backpack no order-book sample	—	—	—	—	—

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	+0.0055%	4h	0.01385	−0.144%	$144K	$19K	20x	as long as short
Aster BILLUSDT	+0.0100%	4h	0.01386	−0.040%	$2K	$4K	5x	as long as short
Bybit BILLUSDT	+0.0100%	4h	0.01385	−0.144%	$1.3M	$937K	20x	as long as short
OKX BILL-USDT-SWAPlong	+0.0100%	4h	0.01387	long leg	$1.0M	$2.5M	20x
Gate BILL_USDT	+0.0100%	4h	0.01387	0.000%	$280K	$82K	20x	as long as short
Bitget BILLUSDT	+0.0100%	4h	0.01386	−0.072%	$631K	$847K	20x	as long as short
SunX BILL-USDT	+0.0100%	4h	0.01389	+0.144%	$2K	$1.1M	20x	as long as short
Backpack BILL_USDC_PERPshort	+0.0212%	1h	0.01387	0.000%	$22K	$926	5x
MEXC BILL_USDT	+0.0318%	4h	0.01386	−0.072%	$1.0M	$320K	50x	as long as short
Binance BILLUSDT	+0.0319%	4h	0.01387	0.000%	$2.5M	$3.6M	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	+0.0320%	1h	0.01387	−0.023%	$4K	$240K	5x	as long as short
BingX BILL-USDT	+0.0322%	4h	0.01387	0.000%	—	$1.7M	—	as long as short
Coinbase International BILL-PERP-INTX	+0.0632%	1h	0.01386	−0.079%	$47K	$100K	50x	as long as short
HTX BILL-USDT	+0.0769%	4h	0.01391	+0.288%	$17K	$8K	20x	as long as short
KuCoin BILLUSDTM	+0.0978%	4h	0.01388	+0.079%	$443K	$278K	20x	as long as short
Deribit BILL_USDC-PERPETUAL	+0.2205%	1h	0.01388	+0.094%	$108K	$14K	10x	as long as short