FIL

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0444%/8h= −48.6% APRnext payment −$0.56 per $10,000 · paid last 24h −0.041%

Price spread now: Deribit against Coinbase International−0.479%7-day average −0.033% · you buy dearer than you sell

Net, funding: paid 7d − costs−$70as in the Funding arb table

Net, price: spread back to 7d avg − costs−$102as in the Price arb table

costs, in and out, $10k−$570.574% of the position

Long on Coinbase International Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.128%−$13 on $10k

Price spread, last 4 days (all we have)+0.538%+$54 · spread now −0.479%, 7d avg −0.033%

Together, before fees+0.410%+$41 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$13 a day on $10k at the current rate, and Deribit is 0.446% cheaper against Coinbase International than usual: you would sell low and buy high (−$45 if the spread goes back to its 7-day average of −0.033%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.128% in total (about -6.7% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.56 per $10,000. 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	Coinbase International FIL-PERP-INTX	1.0020	−0.0208	get 0.0026% / 1h	50m 34s	$380K	$2.1M	50x
Short	Deribit FIL_USDC-PERPETUAL	0.9972	−0.0652	pay 0.0082% / 1h	50m 34s	$172K	$23K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Coinbase International. 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 Coinbase InternationalbpFee DeribitbpOrdersPrice spread, now −0.479%Rate

Funding earned: −$93.24
Price spread: −0.479% → −0.033%: −$44.62
Slippage, 4 orders: −$40.39
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$195.25
Costs to cover: 0.574%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 3 min ago; Deribit: live order book, 8 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 Coinbase International live order book, 3 min ago	5.49 bp	14.4 bp −$14	18.5 bp −$185	doesn't fit	doesn't fit
Sell Deribit live order book, 8 min ago	3.50 bp	7.0 bp −$7	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	−0.0652%	1h	0.9972	−0.479%	$172K	$23K	25x
Coinbase International FIL-PERP-INTXlong	−0.0208%	1h	1.0020	long leg	$380K	$2.1M	50x
OKX FIL-USDT-SWAP	−0.0063%	8h	0.9950	−0.699%	$18.8M	$102.6M	50x	as long as short
KuCoin FILUSDTM	−0.0015%	8h	0.9972	−0.479%	$7.4M	$7.4M	50x	as long as short
gTrade (Gains Network) FIL/USD	L −0.0003% / S +0.0006%	1h	0.9973	−0.469%	$27K	—	150x	as long as short
dYdX FIL-USD	0.0000%	1h	0.9958	−0.622%	$58K	$2K	10x	as long as short
Injective FIL/USDC PERP	+0.0033%	1h	0.9855	−1.647%	$2K	$240K	12x	as long as short
Kraken Futures PF_FILUSD	+0.0043%	1h	0.9970	−0.499%	$1.4M	$2.3M	50x	as long as short
Binance FILUSDT	+0.0077%	8h	0.9954	−0.659%	$57.8M	$181.2M	75x	as long as short
Extended FIL-USD	+0.0080%	1h	0.9948	−0.716%	$705K	$3.3M	10x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC FIL_USDC	+0.0082%	8h	0.9963	−0.569%	$242K	$102K	50x	as long as short
Lighter FIL	+0.0096%	1h	0.9950	−0.704%	$157K	$354K	5x	as long as short
Hyperliquid FIL	+0.0100%	1h	0.9970	−0.494%	$8.5M	$9.5M	5x	as long as short
Aster FILUSDT	+0.0100%	8h	0.9967	−0.527%	$515K	$597K	20x	as long as short
Bybit FILUSDT	+0.0100%	8h	0.9952	−0.679%	$15.7M	$19.8M	25x	as long as short
Gate FIL_USDT	+0.0100%	8h	0.9960	−0.599%	$8.5M	$16.4M	50x	as long as short
Bitget FILUSDT	+0.0100%	8h	0.9953	−0.669%	$11.0M	$20.3M	75x	as long as short
BingX FIL-USDC	+0.0100%	8h	0.9956	−0.639%	—	$6.5M	—	as long as short
Variational Omni FIL	+0.0100%	8h	0.9967	−0.531%	$449K	$265K	—	as long as short
edgeX FILUSDC	+0.0100%	4h	1.0027	+0.065%	$46K	$295K	10x	as long as short
GRVT FIL_USDT_Perp	+0.0100%	8h	1.0020	+0.004%	$295K	$934K	10x	as long as short
ApeX Omni FILUSDT	+0.0100%	1h	1.0030	+0.100%	$30K	$181K	50x	as long as short
Orderly PERP_FIL_USDC_mythos	+0.0100%	4h	0.9977	−0.432%	$4K	$798	10x	as long as short
SunX FIL-USDT	+0.0100%	8h	0.9970	−0.499%	$3K	$1.1M	20x	as long as short
SoDEX FIL-USD	+0.0100%	1h	0.9964	−0.559%	$480	$11K	5x	as long as short
HTX FIL-USDT	+0.0100%	8h	0.9983	−0.369%	$623K	$5.8M	75x	as long as short
Phemex FILUSDT	+0.0100%	8h	0.9970	−0.499%	$1.1M	$2.5M	50x	as long as short
BloFin FIL-USDT	+0.0197%	8h	0.9963	−0.569%	$2.7M	$647K	75x	as long as short
GMX FIL/USD [WBTC.b-USDC]	L +0.0573% / S −0.0237%	1h	0.9970	−0.494%	$266K	—	100x	as long as short