Funding arb · Price arb /

FIL

all FIL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0808%/8h= −88.5% APRpaid last 24h −0.163%

Price spread now: Deribit against BloFin+0.061%57s7-day average +0.042% · you sell dearer than you buy

Net, funding: paid 7d − costs−$102as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$470.474% of the position

Long on BloFin Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.544%−$54 on $10k

Price spread, last 3 days (all we have)−0.018%−$2 · spread now +0.061%, 7d avg +0.042%

Together, before fees−0.562%−$56 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.042%, so right now this pair is about funding alone: −$24 a day on $10k at the current rate. The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.544% in total (about -28.4% 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	BloFin FIL-USDT	0.9850	0.0146	pay 0.0146% / 8h	1m 44s	$2.7M	$568K	75x
Short	Deribit FIL_USDC-PERPETUAL	0.9856	−0.0662	pay 0.0083% / 1h	1m 44s	$170K	$23K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against BloFin. 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 BloFinbpFee DeribitbpOrdersPrice spread, now +0.061%Rate

Funding earned: −$169.78
Price spread: +0.061% → +0.042%: $1.88
Slippage, 4 orders: −$28.37
Fee BloFin: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$215.27
Costs to cover: 0.474%
Break-even: never at this rate

Slippage from BloFin: live order book, 6 min ago; Deribit: live order book, 12 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 BloFin live order book, 6 min ago	1.52 bp	8.8 bp −$9	13.5 bp −$135	33.2 bp −$3,317	doesn't fit
Sell Deribit live order book, 12 min ago	4.06 bp	7.6 bp −$8	doesn't fit	doesn't fit	doesn't fit

FIL 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 FIL_USDC-PERPETUALshort	−0.0662%	1h	0.9856	+0.061%	$170K	$23K	25x
Kraken Futures PF_FILUSD	−0.0395%	1h	0.9855	+0.048%	$1.3M	$2.4M	50x	as long as short
Coinbase International FIL-PERP-INTX	−0.0352%	1h	0.9853	+0.030%	$317K	$1.8M	50x	as long as short
Injective FIL/USDC PERP	−0.0245%	1h	0.9855	+0.051%	$2K	$240K	12x	as long as short
KuCoin FILUSDTM	−0.0034%	8h	0.9853	+0.030%	$7.4M	$7.1M	50x	as long as short
OKX FIL-USDT-SWAP	−0.0018%	8h	0.9847	−0.030%	$18.0M	$98.8M	50x	as long as short
gTrade (Gains Network) FIL/USD	L −0.0004% / S +0.0006%	1h	0.9855	+0.048%	$24K	—	150x	as long as short
dYdX FIL-USD	0.0000%	1h	0.9860	+0.098%	$57K	$2K	10x	as long as short
Binance FILUSDT	+0.0036%	8h	0.9851	+0.012%	$57.1M	$179.5M	75x	as long as short
Extended FIL-USD	+0.0040%	1h	0.9849	−0.008%	$689K	$2.3M	10x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget FILUSDT	+0.0044%	8h	0.9849	−0.010%	$10.9M	$21.6M	75x	as long as short
BingX FIL-USDT	+0.0048%	8h	0.9849	−0.010%	—	$11.9M	—	as long as short
Bybit FILUSDT	+0.0050%	8h	0.9852	+0.020%	$15.4M	$18.4M	25x	as long as short
MEXC FIL_USDC	+0.0052%	8h	0.9850	0.000%	$247K	$106K	50x	as long as short
Gate FIL_USDT	+0.0069%	8h	0.9853	+0.030%	$8.2M	$16.5M	50x	as long as short
Lighter FIL	+0.0096%	1h	0.9847	−0.031%	$158K	$348K	5x	as long as short
Hyperliquid FIL	+0.0100%	1h	0.9854	+0.040%	$8.5M	$9.5M	5x	as long as short
Aster FILUSDT	+0.0100%	8h	0.9856	+0.062%	$493K	$546K	20x	as long as short
Variational Omni FIL	+0.0100%	8h	0.9831	−0.191%	$439K	$278K	—	as long as short
edgeX FILUSDC	+0.0100%	4h	0.9836	−0.139%	$45K	$294K	10x	as long as short
GRVT FIL_USDT_Perp	+0.0100%	8h	0.9830	−0.204%	$293K	$805K	10x	as long as short
ApeX Omni FILUSDT	+0.0100%	1h	0.9840	−0.102%	$30K	$196K	50x	as long as short
Orderly PERP_FIL_USDC_mythos	+0.0100%	4h	0.9860	+0.103%	$5K	—	10x	as long as short
SunX FIL-USDT	+0.0100%	8h	0.9850	0.000%	$3K	$1.1M	20x	as long as short
SoDEX FIL-USD	+0.0100%	1h	0.9848	−0.020%	$484	$11K	5x	as long as short
HTX FIL-USDT	+0.0100%	8h	0.9854	+0.041%	$625K	$5.7M	75x	as long as short
Phemex FILUSDT	+0.0100%	8h	0.9850	0.000%	$1.1M	$2.4M	50x	as long as short
BloFin FIL-USDTlong	+0.0146%	8h	0.9850	long leg	$2.7M	$568K	75x
GMX FIL/USD [WBTC.b-USDC]	L +0.0537% / S −0.0538%	1h	0.9853	+0.030%	$196K	—	100x	as long as short