Funding you earn now, next payment 00:00 UTC+0.0435%/8h= +47.6% APRnext payment +$0.54 per $10,000 · paid last 24h +0.028%
Price spread now: Coinbase International against Deribit+0.010%7-day average +0.038% · you sell dearer than you buy
Net, funding: paid 7d − costs−$42as in the Funding arb table
Net, price: spread back to 7d avg − costs−$57as in the Price arb table
costs, in and out, $10k−$540.538% of the position
Funding, last 7 days+0.116%+$12 on $10k
+Price spread, last 3 days (all we have)−0.019%−$2 · spread now +0.010%, 7d avg +0.038%
=Funding pays, the price is against you. Coinbase International is 0.028% cheaper against Deribit than usual: you would sell low and buy high (spread +0.010% now, against its 7-day average of +0.038%). If the spread goes back, that is −$3 on $10k: about 5 hours of funding at the current rate (+$13 a day). At the pace of the last 7 days (+0.116% in total) that is about 40 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.116% in total (about 6.1% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.54 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 | Deribit FIL_USDC-PERPETUAL | 0.9861 | −0.0763 | get 0.0095% / 1h | 39m 56s | $170K | $23K | 25x |
| Short | Coinbase International FIL-PERP-INTX | 0.9862 | −0.0328 | pay 0.0041% / 1h | 39m 56s | $316K | $1.8M | 50x |
Deribit FIL_USDC-PERPETUAL
Coinbase International FIL-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International against Deribit. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $91.35
- Price spread: +0.010% → +0.038%
- −$2.76
- Slippage, 4 orders
- −$36.82
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- $34.77
- Costs to cover
- 0.538%
- Break-even
- 4.3 days
Slippage from Deribit: live order book, 33 min ago; Coinbase International: 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, 33 min ago | 4.06 bp | 20.8 bp −$21 | 31.0 bp −$310 | doesn't fit | doesn't fit |
| Sell Coinbase International live order book, 4 min ago | 6.07 bp | 13.1 bp −$13 | 16.6 bp −$166 | 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-PERPETUALlong | −0.0763% | 1h | 0.9861 | long leg | $170K | $23K | 25x | |
| Kraken Futures PF_FILUSD | −0.0333% | 1h | 0.9857 | −0.038% | $1.3M | $2.4M | 50x | as long as short |
| Coinbase International FIL-PERP-INTXshort | −0.0328% | 1h | 0.9862 | +0.010% | $316K | $1.8M | 50x | |
| KuCoin FILUSDTM | −0.0040% | 8h | 0.9855 | −0.061% | $7.4M | $7.1M | 50x | as long as short |
| OKX FIL-USDT-SWAP | −0.0032% | 8h | 0.9845 | −0.162% | $17.9M | $98.4M | 50x | as long as short |
| gTrade (Gains Network) FIL/USD | L −0.0004% / S +0.0006% | 1h | 0.9860 | −0.009% | $25K | — | 150x | as long as short |
| dYdX FIL-USD | 0.0000% | 1h | 0.9860 | −0.006% | $57K | $2K | 10x | as long as short |
| Extended FIL-USD | +0.0032% | 1h | 0.9842 | −0.197% | $690K | $3.2M | 10x | as long as short |
| Injective FIL/USDC PERP | +0.0033% | 1h | 0.9855 | −0.061% | $2K | $240K | 12x | as long as short |
| Binance FILUSDT | +0.0035% | 8h | 0.9849 | −0.122% | $56.8M | $179.0M | 75x | as long as short |
Kraken Futures PF_FILUSD
KuCoin FILUSDTM
OKX FIL-USDT-SWAP
gTrade (Gains Network) FIL/USD
dYdX FIL-USD
Extended FIL-USD
Injective FIL/USDC PERP
Binance FILUSDTShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget FILUSDT | +0.0059% | 8h | 0.9845 | −0.162% | $10.8M | $21.5M | 75x | as long as short |
| MEXC FIL_USDC | +0.0060% | 8h | 0.9841 | −0.203% | $247K | $104K | 50x | as long as short |
| Lighter FIL | +0.0096% | 1h | 0.9848 | −0.129% | $159K | $346K | 5x | as long as short |
| Hyperliquid FIL | +0.0100% | 1h | 0.9854 | −0.069% | $8.5M | $9.5M | 5x | as long as short |
| Aster FILUSDT | +0.0100% | 8h | 0.9860 | −0.010% | $493K | $553K | 20x | as long as short |
| Bybit FILUSDT | +0.0100% | 8h | 0.9847 | −0.142% | $15.3M | $18.3M | 25x | as long as short |
| Gate FIL_USDT | +0.0100% | 8h | 0.9854 | −0.071% | $8.2M | $16.1M | 50x | as long as short |
| BingX FIL-USDC | +0.0100% | 8h | 0.9852 | −0.091% | — | $6.5M | — | as long as short |
| Variational Omni FIL | +0.0100% | 8h | 0.9882 | +0.213% | $443K | $279K | — | as long as short |
| edgeX FILUSDC | +0.0100% | 4h | 0.9881 | +0.203% | $45K | $293K | 10x | as long as short |
| GRVT FIL_USDT_Perp | +0.0100% | 8h | 0.9890 | +0.289% | $292K | $812K | 10x | as long as short |
| ApeX Omni FILUSDT | +0.0100% | 1h | 0.9870 | +0.091% | $30K | $196K | 50x | as long as short |
| Orderly PERP_FIL_USDC_mythos | +0.0100% | 4h | 0.9867 | +0.058% | $5K | — | 10x | as long as short |
| SunX FIL-USDT | +0.0100% | 8h | 0.9850 | −0.112% | $3K | $1.1M | 20x | as long as short |
| SoDEX FIL-USD | +0.0100% | 1h | 0.9851 | −0.101% | $483 | $11K | 5x | as long as short |
| HTX FIL-USDT | +0.0100% | 8h | 0.9870 | +0.091% | $629K | $5.7M | 75x | as long as short |
| Phemex FILUSDT | +0.0100% | 8h | 0.9850 | −0.112% | $1.1M | $2.3M | 50x | as long as short |
| BloFin FIL-USDT | +0.0138% | 8h | 0.9875 | +0.142% | $2.7M | $571K | 75x | as long as short |
| GMX FIL/USD [WBTC.b-USDC] | L +0.0538% / S −0.0538% | 1h | 0.9860 | −0.010% | $196K | — | 100x | as long as short |
Bitget FILUSDT
MEXC FIL_USDC
Lighter FIL
Hyperliquid FIL
Aster FILUSDT
Bybit FILUSDT
Gate FIL_USDT
BingX FIL-USDC
Variational Omni FIL
edgeX FILUSDC
GRVT FIL_USDT_Perp
ApeX Omni FILUSDT
Orderly PERP_FIL_USDC_mythos
SunX FIL-USDT
SoDEX FIL-USD
HTX FIL-USDT
Phemex FILUSDT
BloFin FIL-USDT
GMX FIL/USD [WBTC.b-USDC]