S

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0491%/8h= −53.7% APRnext payment −$0.61 per $10,000 · paid last 24h −0.031%

Price spread now: gTrade (Gains Network) against Backpack−0.197%7-day average — · you buy dearer than you sell

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

Long on Backpack Short on gTrade (Gains Network)

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

Both sides work against this trade now: funding costs −$15 a day on $10k at the current rate, and gTrade (Gains Network) is 0.197% cheaper against Backpack than usual: you would sell low and buy high (−$20 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack S_USDC_PERP	0.03920	0.0484	pay 0.0061% / 1h	39m 59s	$114K	$287K	5x
Short	gTrade (Gains Network) S/USD	0.03912	L +0.0001% / S +0.0006%	pay 0.0001% / 1h	39m 59s	$603	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against Backpack. 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 BackpackbpFee gTrade (Gains Network)bpOrdersPrice spread, now −0.197%Rate

Funding earned: −$103.03
Price spread: −0.197% → 0.000%: −$19.69
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$142.72
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Backpack: live order book, 48 min ago; gTrade (Gains Network): 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 Backpack live order book, 48 min ago	12.58 bp	20.0 bp −$20	doesn't fit	doesn't fit	doesn't fit
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

gTrade (Gains Network): 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.

S on 25 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
Kraken Futures PF_SUSD	−0.1460%	1h	0.03908	−0.315%	$33K	$33K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1264%	1h	0.03826	−2.398%	$47K	$5K	25x	as long as short
Variational Omni S	−0.1172%	4h	0.03903	−0.433%	$608K	$34K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0173% / S +0.0169%	1h	0.03912	−0.199%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03908	−0.295%	$4	—	15x	as long as short
Aster SUSDT	−0.0037%	4h	0.03913	−0.172%	$43K	$212K	10x	as long as short
Orderly PERP_S_USDC	−0.0018%	4h	0.03911	−0.230%	$101K	$340K	10x	as long as short
01 Exchange SUSD	0.0000%	1h	0.03910	−0.255%	$24K	$3K	5x	as long as short
gTrade (Gains Network) S/USDshort	L +0.0001% / S +0.0006%	1h	0.03912	−0.197%	$603	—	150x
Deribit S_USDC-PERPETUAL	+0.0005%	1h	0.03915	−0.128%	$66K	$10K	10x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective S/USDC PERP	+0.0033%	1h	0.04100	+4.592%	$2K	$37K	12x	as long as short
OKX S-USDT-SWAP	+0.0087%	4h	0.03905	−0.383%	$973K	$7.5M	20x	as long as short
Lighter S	+0.0096%	1h	0.03912	−0.204%	$164K	$240K	5x	as long as short
Hyperliquid S	+0.0100%	1h	0.03909	−0.288%	$986K	$929K	5x	as long as short
Binance SUSDT	+0.0100%	4h	0.03908	−0.305%	$5.3M	$24.1M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03900	−0.510%	$5.6M	$6.5M	50x	as long as short
Gate S_USDT	+0.0100%	4h	0.03903	−0.434%	$319K	$291K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03908	−0.306%	$3.4M	$2.5M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03907	−0.332%	$1.8M	$3.1M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03905	−0.383%	$1.2M	$3.0M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03907	−0.332%	—	$6.8M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03930	+0.255%	$23K	$472K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03904	−0.400%	$219K	$883K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03911	−0.230%	$271K	$178K	75x	as long as short
Backpack S_USDC_PERPlong	+0.0484%	1h	0.03920	long leg	$114K	$287K	5x