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Funding arb · Price arb /

KMNO

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 09:00 UTC+0.1412%/8h= +154.6% APRpaid last 24h −0.097%
Price spread now: Bitget against Backpack+0.118%49s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on BackpackShort on Bitget
What this pair did over the last
the charts below follow
Funding, last 7 days−0.382%−$38 on $10k
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 +$42 a day on $10k at the current rate, and Bitget is 0.118% dearer against Backpack than usual: you sell high and buy low: +$12 more if the spread goes back to zero (this spread has no 7-day history yet). Mind the row above: over the last 7 days funding on this pair cost −0.382%, so the current rate has only just turned in your favour. The two prices were read 49 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 -0.382% in total (about -19.9% 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.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBackpack KMNO_USDC_PERP0.03312−0.1312get 0.0164% / 1h40m 27s$82K$61K5x
ShortBitget KMNOUSDT0.033160.0100get 0.0050% / 4h3h 40m$835K$2.5M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bitget against Backpack. 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

Funding earned
$296.48
Price spread: +0.118% → 0.000%
$11.78
Slippage, 4 orders
no order book: not counted
Fee Backpack: 5 bp × 2 orders
−$10
Fee Bitget: 6 bp × 2 orders
−$12
Net
$286.26
Costs to cover
0.220%
Break-even
0.2 days
Slippage unknown: Backpack: no order-book sample; Bitget: live order book, 2 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Backpack no order-book sample—————
Sell Bitget live order book, 2 min ago4.52 bp22.1 bp −$2297.7 bp −$977doesn't fitdoesn't fit
Backpack: 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.

KMNO on 10 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Backpack KMNO_USDC_PERPlong−0.1312%1h0.03312long leg$82K$61K5x
BloFin KMNO-USDT+0.0063%4h0.03319+0.208%$127K$47K50xas long as short
Binance KMNOUSDT+0.0100%4h0.03315+0.085%$3.2M$21.7M50xas long as short
Bybit KMNOUSDT+0.0100%4h0.03312−0.003%$1.4M$3.5M25xas long as short
OKX KMNO-USDT-SWAP+0.0100%4h0.03310−0.063%$573K$5.1M20xas long as short
Gate KMNO_USDT+0.0100%4h0.03316+0.118%$138K$221K50xas long as short
MEXC KMNO_USDT+0.0100%4h0.03315+0.088%$930K$1.0M125xas long as short
Bitget KMNOUSDTshort+0.0100%4h0.03316+0.118%$835K$2.5M50x
BingX KMNO-USDT+0.0100%4h0.03315+0.088%—$1.4M—as long as short
Variational Omni KMNO+0.0100%4h0.03315+0.086%$27K$89K—as long as short