Funding arb · Price arb /

RUNE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h —

Price spread now: Binance against Deribit−0.032%7-day average — · you buy dearer than you sell

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

Long on Deribit Short on Binance

What this pair did over the last

the charts below follow

Funding, last 3 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. Binance is 0.032% cheaper against Deribit than usual: you would sell low and buy high (spread −0.032% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 25 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit RUNE_USDC-PERPETUAL	0.6332	0	get 0.0000% / 1h	52m 14s	—	—	10x
Short	Binance RUNEUSDT	0.6330	0.0100	get 0.0100% / 8h	4h 52m	$4.8M	$15.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Deribit. 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 DeribitbpFee BinancebpOrdersPrice spread, now −0.032%Rate

Funding earned: $21
Price spread: −0.032% → 0.000%: −$3.16
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Binance: 5 bp × 2 orders: −$10
Net: $0.84
Costs to cover: 0.170%
Break-even: 6.7 days

Slippage unknown: Deribit: no order-book sample; Binance: live order book, 3 min ago. 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 Deribit no order-book sample	—	—	—	—	—
Sell Binance live order book, 3 min ago	1.58 bp	20.1 bp −$20	77.4 bp −$774	doesn't fit	doesn't fit

Deribit: 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.

RUNE on 16 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 RUNE_USDC-PERPETUALlong	0.0000%	1h	0.6332	long leg	—	—	10x
dYdX RUNE-USD	+0.0007%	1h	0.6334	+0.039%	$27K	$32K	5x	as long as short
Injective RUNE/USDC PERP	+0.0033%	1h	0.6155	−2.795%	$7	$14	12x	as long as short
BloFin RUNE-USDT	+0.0077%	8h	0.6347	+0.237%	$450K	$194K	75x	as long as short
Binance RUNEUSDTshort	+0.0100%	8h	0.6330	−0.032%	$4.8M	$15.6M	75x
Bybit RUNEUSDT	+0.0100%	8h	0.6322	−0.158%	$2.8M	$2.8M	75x	as long as short
Gate RUNE_USDT	+0.0100%	8h	0.6336	+0.063%	$628K	$366K	50x	as long as short
MEXC RUNE_USDT	+0.0100%	8h	0.6325	−0.111%	$3.6M	$3.5M	125x	as long as short
KuCoin RUNEUSDTM	+0.0100%	8h	0.6335	+0.047%	$920K	$330K	50x	as long as short
Bitget RUNEUSDT	+0.0100%	8h	0.6332	0.000%	$1.5M	$772K	50x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX RUNE-USDT	+0.0100%	8h	0.6323	−0.142%	—	$59.0M	—	as long as short
Variational Omni RUNE	+0.0100%	8h	0.6345	+0.212%	$186K	$67K	—	as long as short
Extended RUNE-USD	+0.0104%	1h	0.6330	−0.025%	$4K	$164K	10x	as long as short
Coinbase International RUNE-PERP-INTX	+0.0680%	1h	0.6381	+0.774%	$37K	$31K	25x	as long as short
Kraken Futures PF_RUNEUSD	+0.0991%	1h	0.6332	+0.002%	$181K	$286K	20x	as long as short
Hyperliquid RUNE	+0.1626%	1h	0.6339	+0.111%	$1.7M	$1.0M	5x	as long as short