Funding arb · Price arb /

FIL

all FIL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0104%/8h= +11.4% APRpaid last 24h +0.031%

Price spread now: Orderly against gTrade (Gains Network)−0.072%63s7-day average — · you buy dearer than you sell

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

Long on gTrade (Gains Network)Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 4 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 0.072% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.072% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 2.3 days of funding at the current rate (+$3 a day). The two prices were read 63 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) FIL/USD	0.9916	L −0.0004% / S +0.0006%	get 0.0000% / 1h	49m 40s	$25K	—	150x
Short	Orderly PERP_FIL_USDC_mythos	0.9909	0.0100	get 0.0050% / 4h	3h 49m	$4K	$798	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee OrderlybpOrdersPrice spread, now −0.072%Rate

Funding earned: $21.79
Price spread: −0.072% → 0.000%: −$7.17
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$1.38
Costs to cover: 0.160%
Break-even: 7.4 days

Slippage unknown: gTrade (Gains Network): no order-book sample; 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

gTrade (Gains Network) and 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.

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-PERPETUAL	−0.0456%	1h	0.9904	−0.119%	$170K	$23K	25x	as long as short
Coinbase International FIL-PERP-INTX	−0.0056%	1h	0.9919	+0.032%	$355K	$2.2M	50x	as long as short
gTrade (Gains Network) FIL/USDlong	L −0.0004% / S +0.0006%	1h	0.9916	long leg	$25K	—	150x
dYdX FIL-USD	0.0000%	1h	0.9909	−0.064%	$58K	$1K	10x	as long as short
Bybit FILUSDT	+0.0022%	8h	0.9910	−0.059%	$15.4M	$20.3M	25x	as long as short
Injective FIL/USDC PERP	+0.0033%	1h	0.9855	−0.613%	$2K	$240K	12x	as long as short
KuCoin FILUSDTM	+0.0081%	8h	0.9910	−0.059%	$7.1M	$7.8M	50x	as long as short
Lighter FIL	+0.0096%	1h	0.9908	−0.083%	$144K	$345K	5x	as long as short
Kraken Futures PF_FILUSD	+0.0098%	1h	0.9904	−0.120%	$1.4M	$2.1M	50x	as long as short
Hyperliquid FIL	+0.0100%	1h	0.9914	−0.019%	$8.3M	$9.4M	5x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster FILUSDT	+0.0100%	8h	0.9911	−0.052%	$505K	$552K	20x	as long as short
Binance FILUSDT	+0.0100%	8h	0.9914	−0.018%	$56.1M	$183.4M	75x	as long as short
OKX FIL-USDT-SWAP	+0.0100%	8h	0.9917	+0.012%	$17.6M	$107.2M	50x	as long as short
Gate FIL_USDT	+0.0100%	8h	0.9910	−0.059%	$8.3M	$16.1M	50x	as long as short
MEXC FIL_USDC	+0.0100%	8h	0.9906	−0.099%	$229K	$98K	50x	as long as short
Bitget FILUSDT	+0.0100%	8h	0.9920	+0.042%	$11.2M	$19.6M	75x	as long as short
BingX FIL-USDT	+0.0100%	8h	0.9914	−0.018%	—	$11.8M	—	as long as short
Variational Omni FIL	+0.0100%	8h	0.9910	−0.060%	$440K	$279K	—	as long as short
edgeX FILUSDC	+0.0100%	4h	0.9895	−0.209%	$45K	$296K	10x	as long as short
GRVT FIL_USDT_Perp	+0.0100%	8h	0.9897	−0.187%	$287K	$1.5M	10x	as long as short
ApeX Omni FILUSDT	+0.0100%	1h	0.9910	−0.059%	$27K	$181K	50x	as long as short
Orderly PERP_FIL_USDC_mythosshort	+0.0100%	4h	0.9909	−0.072%	$4K	$798	10x
SunX FIL-USDT	+0.0100%	8h	0.9900	−0.159%	$3K	$1.1M	20x	as long as short
SoDEX FIL-USD	+0.0100%	1h	0.9894	−0.220%	$475	$11K	5x	as long as short
HTX FIL-USDT	+0.0100%	8h	0.9907	−0.089%	$617K	$5.5M	75x	as long as short
Phemex FILUSDT	+0.0100%	8h	0.9890	−0.260%	$1.2M	$2.6M	50x	as long as short
Extended FIL-USD	+0.0104%	1h	0.9910	−0.062%	$697K	$4.2M	10x	as long as short
BloFin FIL-USDT	+0.0220%	8h	0.9913	−0.028%	$2.6M	$658K	75x	as long as short
GMX FIL/USD [WBTC.b-USDC]	L +0.0600% / S −0.0280%	1h	0.9899	−0.171%	$265K	—	100x	as long as short