Funding you earn now, next payment 01:00 UTC−0.0124%/8h= −13.6% APRnext payment −$0.15 per $10,000 · paid last 24h −0.079%
Price spread now: Coinbase International against Backpack+0.100%7-day average +0.004% · you sell dearer than you buy
Net, funding: paid 7d − costs−$63as in the Funding arb table
Net, price: spread back to 7d avg − costs−$30as in the Price arb table
costs, in and out, $10k−$390.392% of the position
Funding, last 7 days−0.239%−$24 on $10k
+Price spread, last 3 days (all we have)−0.111%−$11 · spread now +0.100%, 7d avg +0.004%
=The price spread pays, funding is against you. Coinbase International is 0.097% dearer against Backpack than usual: you sell high and buy low (spread +0.100% now, against its 7-day average of +0.004%): +$10 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 2.6 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack DOT_USDC_PERP | 1.1978 | 0.0100 | pay 0.0013% / 1h | 51m 25s | $96K | $129K | 10x |
| Short | Coinbase International DOT-PERP-INTX | 1.1990 | −0.0024 | pay 0.0003% / 1h | 51m 25s | $197K | $1.8M | 50x |
Backpack DOT_USDC_PERP
Coinbase International DOT-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International against Backpack. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$26.04
- Price spread: +0.100% → +0.004%
- $9.66
- Slippage, 4 orders
- −$19.21
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$55.59
- Costs to cover
- 0.392%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 17 min ago; Coinbase International: live order book, 2 min ago.
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 live order book, 17 min ago | 0.41 bp | 6.7 bp −$7 | doesn't fit | doesn't fit | doesn't fit |
| Sell Coinbase International live order book, 2 min ago | 8.38 bp | 13.4 bp −$13 | 18.8 bp −$188 | doesn't fit | doesn't fit |
DOT on 29 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit DOT_USDC-PERPETUAL | −0.1417% | 1h | 1.1979 | +0.008% | $219K | $116K | 50x | as long as short |
| Reya DOTRUSDPERP | −0.0166% | 1h | 1.1964 | −0.116% | $259 | — | — | as long as short |
| Coinbase International DOT-PERP-INTXshort | −0.0024% | 1h | 1.1990 | +0.100% | $197K | $1.8M | 50x | |
| gTrade (Gains Network) DOT/USD | L −0.0002% / S +0.0004% | 1h | 1.1972 | −0.050% | $14K | — | 150x | as long as short |
| dYdX DOT-USD | 0.0000% | 1h | 1.1967 | −0.091% | $144K | $6K | 10x | as long as short |
| OKX DOT-USDT-SWAP | +0.0021% | 8h | 1.1975 | −0.025% | $9.3M | $24.3M | 50x | as long as short |
| Injective DOT/USDC PERP | +0.0033% | 1h | 1.2020 | +0.351% | $328 | $121K | 12x | as long as short |
| KuCoin DOTUSDTM | +0.0078% | 8h | 1.1977 | −0.008% | $6.5M | $9.2M | 75x | as long as short |
| Lighter DOT | +0.0096% | 1h | 1.1964 | −0.118% | $242K | $597K | 10x | as long as short |
| Hyperliquid DOT | +0.0100% | 1h | 1.1971 | −0.058% | $5.4M | $3.4M | 10x | as long as short |
Deribit DOT_USDC-PERPETUAL
Reya DOTRUSDPERP
gTrade (Gains Network) DOT/USD
dYdX DOT-USD
OKX DOT-USDT-SWAP
Injective DOT/USDC PERP
KuCoin DOTUSDTM
Lighter DOT
Hyperliquid DOTShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster DOTUSDT | +0.0100% | 8h | 1.1960 | −0.151% | $869K | $704K | 50x | as long as short |
| Binance DOTUSDT | +0.0100% | 8h | 1.1970 | −0.067% | $44.0M | $84.3M | 75x | as long as short |
| Bybit DOTUSDT | +0.0100% | 8h | 1.1971 | −0.058% | $24.7M | $18.9M | 75x | as long as short |
| Gate DOT_USDT | +0.0100% | 8h | 1.1970 | −0.067% | $6.7M | $11.4M | 75x | as long as short |
| MEXC DOT_USDT | +0.0100% | 8h | 1.1972 | −0.050% | $30.8M | $44.6M | 300x | as long as short |
| Bitget DOTUSDT | +0.0100% | 8h | 1.1962 | −0.134% | $22.8M | $14.7M | 75x | as long as short |
| BingX DOT-USDT | +0.0100% | 8h | 1.1972 | −0.050% | — | $30.1M | — | as long as short |
| Backpack DOT_USDC_PERPlong | +0.0100% | 1h | 1.1978 | long leg | $96K | $129K | 10x | |
| Variational Omni DOT | +0.0100% | 8h | 1.1904 | −0.621% | $542K | $59K | — | as long as short |
| edgeX DOTUSDC | +0.0100% | 4h | 1.1928 | −0.419% | $35K | $334K | 20x | as long as short |
| GRVT DOT_USDT_Perp | +0.0100% | 8h | 1.1930 | −0.401% | $232K | $422K | 10x | as long as short |
| Orderly PERP_DOT_USDC | +0.0100% | 8h | 1.1980 | +0.017% | $8K | $23K | 10x | as long as short |
| SunX DOT-USDT | +0.0100% | 8h | 1.1989 | +0.092% | $2K | $1.3M | 20x | as long as short |
| HTX DOT-USDT | +0.0100% | 8h | 1.1982 | +0.033% | $249K | $224K | 75x | as long as short |
| Extended DOT-USD | +0.0104% | 1h | 1.1972 | −0.046% | $14K | $301K | 25x | as long as short |
| Kraken Futures PF_DOTUSD | +0.0196% | 1h | 1.1984 | +0.050% | $4.5M | $1.4M | 50x | as long as short |
| BloFin DOT-USDT | +0.0220% | 8h | 1.1934 | −0.367% | $2.2M | $793K | 75x | as long as short |
| GMX DOT/USD [WBTC.b-USDC] | L +0.0303% / S −0.1012% | 1h | 1.1970 | −0.063% | $22K | — | 100x | as long as short |
| Phemex DOTUSDT | +0.0658% | 8h | 1.2000 | +0.184% | $2.3M | $2.1M | 50x | as long as short |
Aster DOTUSDT
Binance DOTUSDT
Bybit DOTUSDT
Gate DOT_USDT
MEXC DOT_USDT
Bitget DOTUSDT
BingX DOT-USDT
Variational Omni DOT
edgeX DOTUSDC
GRVT DOT_USDT_Perp
Orderly PERP_DOT_USDC
SunX DOT-USDT
HTX DOT-USDT
Extended DOT-USD
Kraken Futures PF_DOTUSD
BloFin DOT-USDT
GMX DOT/USD [WBTC.b-USDC]
Phemex DOTUSDT