Funding arb · Price arb /

CC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0240%/8h= +26.3% APRpaid last 24h +0.072%

Price spread now: BloFin against Backpack−0.043%7-day average — · you buy dearer than you sell

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

Long on Backpack Short on BloFin

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. BloFin is 0.043% cheaper against Backpack than usual: you would sell low and buy high (spread −0.043% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 14 hours of funding at the current rate (+$7 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack CC_USDC_PERP	0.1164	0.0100	pay 0.0013% / 1h	0m 26s	$15K	$22K	10x
Short	BloFin CC-USDT	0.1164	0.0340	get 0.0170% / 4h	1h 00m	$585K	$105K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Backpack. 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 BackpackbpFee BloFinbpOrdersPrice spread, now −0.043%Rate

Funding earned: $50.4
Price spread: −0.043% → 0.000%: −$4.29
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: $24.11
Costs to cover: 0.220%
Break-even: 3.7 days

Slippage unknown: Backpack: no order-book sample; BloFin: live order book, 16 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 Backpack no order-book sample	—	—	—	—	—
Sell BloFin live order book, 16 min ago	1.29 bp	25.3 bp −$25	63.7 bp −$637	doesn't fit	doesn't fit

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.

CC on 19 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
Injective CC/USDC PERP	−0.3951%	1h	0.1150	−1.228%	$6K	$100	5.5x	as long as short
Paradex CC-USD-PERP	+0.0095%	8h	0.1164	+0.016%	$1K	—	5x	as long as short
Aster CCUSDT	+0.0100%	4h	0.1164	−0.016%	$34K	$39K	20x	as long as short
Binance CCUSDT	+0.0100%	4h	0.1164	−0.003%	$11.0M	$11.1M	75x	as long as short
Bybit CCUSDT	+0.0100%	4h	0.1164	−0.026%	$10.5M	$3.7M	25x	as long as short
OKX CC-USDT-SWAP	+0.0100%	4h	0.1165	+0.086%	$2.5M	$3.4M	20x	as long as short
Gate CC_USDT	+0.0100%	4h	0.1163	−0.146%	$361K	$213K	50x	as long as short
MEXC CC_USDT	+0.0100%	4h	0.1164	0.000%	$1.7M	$317K	100x	as long as short
KuCoin CCUSDTM	+0.0100%	4h	0.1164	+0.017%	$493K	$115K	50x	as long as short
Bitget CCUSDT	+0.0100%	4h	0.1164	+0.017%	$929K	$788K	20x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX CC-USDT	+0.0100%	4h	0.1164	−0.009%	—	$6.6M	—	as long as short
Backpack CC_USDC_PERPlong	+0.0100%	1h	0.1164	long leg	$15K	$22K	10x
Variational Omni CC	+0.0100%	4h	0.1161	−0.297%	$578K	$43K	—	as long as short
GRVT CC_USDT_Perp	+0.0100%	4h	0.1162	−0.201%	$78K	$2.3M	10x	as long as short
Derive CC-PERP	+0.0100%	1h	0.1162	−0.163%	$5K	$35K	6.7x	as long as short
Hyperliquid CC	+0.0330%	1h	0.1167	+0.232%	$5.4M	$1.3M	3x	as long as short
BloFin CC-USDTshort	+0.0340%	4h	0.1164	−0.043%	$585K	$105K	75x
GMX CC/USD [WBTC.b-USDC]	L +0.0442% / S −0.0239%	1h	0.1164	−0.034%	$43K	—	50x	as long as short
Lighter CC	+0.1240%	1h	0.1169	+0.386%	$234K	$152K	5x	as long as short