Funding arb · Price arb /

DOT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.3692%/8h= +404.3% APRpaid last 24h +0.241%

Price spread now: Binance against Deribit−0.164%7-day average −0.062% · you buy dearer than you sell

Net, funding: paid 7d − costs+$47as in the Funding arb table

Net, price: spread back to 7d avg − costs−$54as in the Price arb table

costs, in and out, $10k−$440.439% of the position

Long on Deribit Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.913%+$91 on $10k

Price spread, last 4 days (all we have)+0.163%+$16 · spread now −0.164%, 7d avg −0.062%

Together, before fees+1.076%+$108 on $10k · with fees, hour by hour

Funding pays, the price is against you. Binance is 0.101% cheaper against Deribit than usual: you would sell low and buy high (spread −0.164% now, against its 7-day average of −0.062%). If the spread goes back, that is −$10 on $10k: about 2 hours of funding at the current rate (+$111 a day). At the pace of the last 7 days (+0.913% in total) that is about 19 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.913% in total (about 47.6% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit DOT_USDC-PERPETUAL	1.1666	−0.3592	get 0.0449% / 1h	8m 35s	$247K	$152K	50x
Short	Binance DOTUSDT	1.1647	0.0100	get 0.0100% / 8h	1h 08m	$42.4M	$88.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Deribit. 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 DeribitbpFee BinancebpOrdersPrice spread, now −0.164%Rate

Funding earned: $775.32
Price spread: −0.164% → −0.062%: −$10.12
Slippage, 4 orders: −$26.9
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Binance: 5 bp × 2 orders: −$10
Net: $721.3
Costs to cover: 0.439%
Break-even: 0.5 days

Slippage from Deribit: live order book, 35 min ago; Binance: live order book, 4 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 Deribit live order book, 35 min ago	8.15 bp	13.3 bp −$13	21.4 bp −$214	doesn't fit	doesn't fit
Sell Binance live order book, 4 min ago	0.43 bp	8.3 bp −$8	15.8 bp −$158	48.6 bp −$4,861	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-PERPETUALlong	−0.3592%	1h	1.1666	long leg	$247K	$152K	50x
Coinbase International DOT-PERP-INTX	−0.0440%	1h	1.1660	−0.051%	$170K	$2.0M	50x	as long as short
Reya DOTRUSDPERP	−0.0166%	1h	1.1645	−0.182%	$252	—	—	as long as short
dYdX DOT-USD	0.0000%	1h	1.1647	−0.163%	$140K	$6K	10x	as long as short
gTrade (Gains Network) DOT/USD	L 0.0000% / S +0.0004%	1h	1.1654	−0.103%	$3K	—	150x	as long as short
Injective DOT/USDC PERP	+0.0033%	1h	1.2020	+3.034%	$328	$121K	12x	as long as short
Lighter DOT	+0.0096%	1h	1.1649	−0.147%	$246K	$677K	10x	as long as short
Hyperliquid DOT	+0.0100%	1h	1.1645	−0.180%	$5.6M	$4.6M	10x	as long as short
Aster DOTUSDT	+0.0100%	8h	1.1649	−0.147%	$839K	$607K	50x	as long as short
Binance DOTUSDTshort	+0.0100%	8h	1.1647	−0.164%	$42.4M	$88.7M	75x

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit DOTUSDT	+0.0100%	8h	1.1642	−0.206%	$23.6M	$20.2M	75x	as long as short
OKX DOT-USDT-SWAP	+0.0100%	8h	1.1645	−0.180%	$9.0M	$25.3M	50x	as long as short
Gate DOT_USDT	+0.0100%	8h	1.1650	−0.137%	$6.7M	$12.9M	75x	as long as short
MEXC DOT_USDT	+0.0100%	8h	1.1645	−0.180%	$35.1M	$61.8M	300x	as long as short
KuCoin DOTUSDTM	+0.0100%	8h	1.1649	−0.146%	$6.2M	$9.4M	75x	as long as short
Bitget DOTUSDT	+0.0100%	8h	1.1650	−0.137%	$22.3M	$14.8M	75x	as long as short
BingX DOT-USDC	+0.0100%	8h	1.1644	−0.189%	—	$1.3M	—	as long as short
Backpack DOT_USDC_PERP	+0.0100%	1h	1.1659	−0.060%	$91K	$130K	10x	as long as short
Variational Omni DOT	+0.0100%	8h	1.1651	−0.126%	$530K	$51K	—	as long as short
edgeX DOTUSDC	+0.0100%	4h	1.1664	−0.017%	$34K	$334K	20x	as long as short
GRVT DOT_USDT_Perp	+0.0100%	8h	1.1652	−0.116%	$223K	$432K	10x	as long as short
Orderly PERP_DOT_USDC	+0.0100%	8h	1.1660	−0.051%	$8K	$19K	10x	as long as short
SunX DOT-USDT	+0.0100%	8h	1.1673	+0.060%	$2K	$1.3M	20x	as long as short
HTX DOT-USDT	+0.0100%	8h	1.1691	+0.214%	$263K	$280K	75x	as long as short
Extended DOT-USD	+0.0104%	1h	1.1641	−0.210%	$13K	$247K	25x	as long as short
Phemex DOTUSDT	+0.0179%	8h	1.1670	+0.034%	$2.4M	$2.2M	50x	as long as short
BloFin DOT-USDT	+0.0220%	8h	1.1656	−0.086%	$1.9M	$901K	75x	as long as short
GMX DOT/USD [WBTC.b-USDC]	L +0.0291% / S −0.0937%	1h	1.1654	−0.103%	$20K	—	100x	as long as short
Kraken Futures PF_DOTUSD	+0.0328%	1h	1.1663	−0.029%	$4.3M	$1.5M	50x	as long as short