Funding arb · Price arb /

DOT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0019%/8h= +2.1% APRpaid last 24h +0.188%

Price spread now: Orderly against Deribit−0.124%7-day average — · you buy dearer than you sell

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

Long on Deribit Short on Orderly

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. Orderly is 0.124% cheaper against Deribit than usual: you would sell low and buy high (spread −0.124% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$12 on $10k: about 22 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit DOT_USDC-PERPETUAL	1.2105	0.0081	pay 0.0010% / 1h	58m 51s	$221K	$117K	50x
Short	Orderly PERP_DOT_USDC	1.2090	0.0100	get 0.0100% / 8h	58m 51s	$8K	$24K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.124%Rate

Funding earned: $3.99
Price spread: −0.124% → 0.000%: −$12.39
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$21.4
Costs to cover: 0.130%
Break-even: 44.5 days

Slippage unknown: Deribit: live order book, 20 min ago; Orderly: 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 Deribit live order book, 20 min ago	3.72 bp	13.0 bp −$13	21.0 bp −$210	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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.

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
Reya DOTRUSDPERP	−0.0166%	1h	1.2090	−0.121%	$262	—	—	as long as short
Coinbase International DOT-PERP-INTX	−0.0056%	1h	1.2090	−0.124%	$209K	$1.9M	50x	as long as short
Backpack DOT_USDC_PERP	−0.0031%	1h	1.2096	−0.074%	$97K	$128K	10x	as long as short
OKX DOT-USDT-SWAP	−0.0009%	8h	1.2086	−0.157%	$9.6M	$23.9M	50x	as long as short
dYdX DOT-USD	0.0000%	1h	1.2088	−0.138%	$146K	$6K	10x	as long as short
gTrade (Gains Network) DOT/USD	L 0.0000% / S +0.0004%	1h	1.2098	−0.058%	$5K	—	150x	as long as short
Kraken Futures PF_DOTUSD	+0.0032%	1h	1.2105	+0.003%	$4.5M	$1.4M	50x	as long as short
Injective DOT/USDC PERP	+0.0033%	1h	1.2020	−0.702%	$328	$121K	12x	as long as short
KuCoin DOTUSDTM	+0.0045%	8h	1.2090	−0.124%	$6.8M	$8.7M	75x	as long as short
Deribit DOT_USDC-PERPETUALlong	+0.0081%	1h	1.2105	long leg	$221K	$117K	50x

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter DOT	+0.0096%	1h	1.2098	−0.060%	$247K	$601K	10x	as long as short
Hyperliquid DOT	+0.0100%	1h	1.2105	0.000%	$5.4M	$3.3M	10x	as long as short
Aster DOTUSDT	+0.0100%	8h	1.2093	−0.095%	$882K	$689K	50x	as long as short
Binance DOTUSDT	+0.0100%	8h	1.2090	−0.127%	$44.7M	$81.7M	75x	as long as short
Bybit DOTUSDT	+0.0100%	8h	1.2082	−0.190%	$24.8M	$18.4M	75x	as long as short
Gate DOT_USDT	+0.0100%	8h	1.2090	−0.124%	$6.9M	$11.5M	75x	as long as short
MEXC DOT_USDT	+0.0100%	8h	1.2090	−0.124%	$29.8M	$38.2M	300x	as long as short
Bitget DOTUSDT	+0.0100%	8h	1.2090	−0.124%	$23.3M	$14.8M	75x	as long as short
BingX DOT-USDC	+0.0100%	8h	1.2090	−0.124%	—	$1.3M	—	as long as short
Variational Omni DOT	+0.0100%	8h	1.2068	−0.307%	$550K	$61K	—	as long as short
edgeX DOTUSDC	+0.0100%	4h	1.2088	−0.138%	$35K	$334K	20x	as long as short
GRVT DOT_USDT_Perp	+0.0100%	8h	1.2078	−0.223%	$234K	$457K	10x	as long as short
Orderly PERP_DOT_USDCshort	+0.0100%	8h	1.2090	−0.124%	$8K	$24K	10x
SunX DOT-USDT	+0.0100%	8h	1.2098	−0.058%	$2K	$1.3M	20x	as long as short
HTX DOT-USDT	+0.0100%	8h	1.2078	−0.223%	$249K	$219K	75x	as long as short
Extended DOT-USD	+0.0104%	1h	1.2084	−0.175%	$15K	$235K	25x	as long as short
BloFin DOT-USDT	+0.0220%	8h	1.2098	−0.058%	$2.3M	$789K	75x	as long as short
Phemex DOTUSDT	+0.0299%	8h	1.2110	+0.041%	$2.2M	$2.1M	50x	as long as short
GMX DOT/USD [WBTC.b-USDC]	L +0.0305% / S −0.1025%	1h	1.2099	−0.046%	$23K	—	100x	as long as short