Funding arb · Price arb /

FET

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0804%/8h= +88.0% APRpaid last 24h +0.004%

Price spread now: Orderly against Coinbase International+0.098%7-day average — · you sell dearer than you buy

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

Long on Coinbase International 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

Both sides work for this trade now. Funding pays +$24 a day on $10k at the current rate, and Orderly is 0.098% dearer against Coinbase International than usual: you sell high and buy low: +$10 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International FET-PERP-INTX	0.2048	−0.0704	get 0.0088% / 1h	17m 52s	$150K	$214K	50x
Short	Orderly PERP_FET_USDC	0.2050	0.0100	get 0.0100% / 8h	7h 17m	$38K	$7K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Coinbase International. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Coinbase InternationalbpFee OrderlybpOrdersPrice spread, now +0.098%Rate

Funding earned: $168.84
Price spread: +0.098% → 0.000%: $9.77
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: $162.61
Costs to cover: 0.160%
Break-even: 0.3 days

Slippage unknown: Coinbase International: live order book, 55 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 Coinbase International live order book, 55 min ago	7.34 bp	52.8 bp −$53	doesn't fit	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.

FET on 20 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 FET_USDC-PERPETUAL	−0.3632%	1h	0.2053	+0.244%	$29K	$223K	10x	as long as short
Kraken Futures PF_FETUSD	−0.1259%	1h	0.2055	+0.363%	$999K	$2.2M	50x	as long as short
Coinbase International FET-PERP-INTXlong	−0.0704%	1h	0.2048	long leg	$150K	$214K	50x
gTrade (Gains Network) FET/USD	L +0.0006% / S −0.0022%	1h	0.2050	+0.104%	$21K	—	150x	as long as short
Injective FET/USDC PERP	+0.0033%	1h	0.2010	−1.855%	$3K	$166K	12x	as long as short
Aster FETUSDT	+0.0100%	8h	0.2054	+0.286%	$341K	$544K	10x	as long as short
Binance FETUSDT	+0.0100%	8h	0.2055	+0.329%	$32.2M	$110.9M	75x	as long as short
Gate FET_USDT	+0.0100%	8h	0.2055	+0.342%	$2.8M	$12.3M	50x	as long as short
MEXC FET_USDT	+0.0100%	8h	0.2052	+0.195%	$34.6M	$25.0M	200x	as long as short
KuCoin FETUSDTM	+0.0100%	8h	0.2055	+0.342%	$10.9M	$19.2M	50x	as long as short

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni FET	+0.0100%	8h	0.2051	+0.154%	$361K	$399K	—	as long as short
Orderly PERP_FET_USDCshort	+0.0100%	8h	0.2050	+0.098%	$38K	$7K	10x
Extended FET-USD	+0.0104%	1h	0.2052	+0.219%	$34K	$248K	10x	as long as short
GMX FET/USD [ETH-USDC]	L +0.0201% / S −0.0278%	1h	0.2050	+0.084%	$14K	—	100x	as long as short
BloFin FET-USDT	+0.0220%	8h	0.2047	−0.049%	$1.7M	$2.7M	100x	as long as short
OKX FET-USDT-SWAP	+0.0290%	4h	0.2056	+0.391%	$1.0M	$8.2M	20x	as long as short
BingX FET-USDT	+0.0290%	8h	0.2055	+0.342%	—	$5.7M	—	as long as short
Bitget FETUSDT	+0.0301%	8h	0.2057	+0.439%	$16.6M	$11.6M	75x	as long as short
Hyperliquid FET	+0.0432%	1h	0.2057	+0.444%	$9.2M	$8.3M	5x	as long as short
Phoenix FET	+0.0467%	1h	0.2052	+0.210%	$36K	$45K	5x	as long as short