Funding you earn now, next payment 22:00 UTC−0.0330%/8h= −36.2% APRnext payment −$0.41 per $10,000 · paid last 24h −2.438%
Price spread now: 01 Exchange against Backpack−0.254%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
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 −$10 a day on $10k at the current rate, and 01 Exchange is 0.254% cheaper against Backpack than usual: you would sell low and buy high (−$25 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 | 0.03940 | 0.0330 | pay 0.0041% / 1h | 16m 38s | $115K | $294K | 5x |
| Short | 01 Exchange SUSD | 0.03930 | 0 | get 0.0000% / 1h | 16m 38s | $24K | $3K | 5x |
Backpack S_USDC_PERP
01 Exchange SUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
01 Exchange against Backpack. 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
- −$69.4
- Price spread: −0.254% → 0.000%
- −$25.38
- Slippage, 4 orders
- no order book: not counted
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee 01 Exchange: 3.5 bp × 2 orders
- −$7
- Net
- −$111.79
- Costs to cover
- 0.170%
- Break-even
- never at this rate
Slippage unknown: Backpack: live order book, 7 min ago; 01 Exchange: 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, 7 min ago | 12.71 bp | 17.7 bp −$18 | doesn't fit | doesn't fit | doesn't fit |
| Sell 01 Exchange no order-book sample | — | — | — | — | — |
01 Exchange: 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 | −0.1451% | 1h | 0.03933 | −0.173% | $33K | $30K | 10x | as long as short |
| Coinbase International S-PERP-INTX | −0.1264% | 1h | 0.03826 | −2.893% | $47K | $5K | 25x | as long as short |
| Variational Omni S | −0.0936% | 4h | 0.03921 | −0.488% | $610K | $34K | — | as long as short |
| GMX S/USD [WBTC.b-USDC] | L −0.0190% / S +0.0184% | 1h | 0.03937 | −0.066% | $1K | — | 100x | as long as short |
| Reya SRUSDPERP | −0.0101% | 1h | 0.03933 | −0.170% | $4 | — | 15x | as long as short |
| Orderly PERP_S_USDC | −0.0015% | 4h | 0.03937 | −0.076% | $99K | $341K | 10x | as long as short |
| 01 Exchange SUSDshort | 0.0000% | 1h | 0.03930 | −0.254% | $24K | $3K | 5x | |
| gTrade (Gains Network) S/USD | L +0.0001% / S +0.0006% | 1h | 0.03937 | −0.069% | $607 | — | 150x | as long as short |
| Aster SUSDT | +0.0015% | 4h | 0.03937 | −0.069% | $43K | $212K | 10x | as long as short |
| Injective S/USDC PERP | +0.0033% | 1h | 0.04100 | +4.061% | $2K | $37K | 12x | as long as short |
Kraken Futures PF_SUSD
Coinbase International S-PERP-INTX
Variational Omni S
GMX S/USD [WBTC.b-USDC]
Reya SRUSDPERP
Orderly PERP_S_USDC
gTrade (Gains Network) S/USD
Aster SUSDT
Injective S/USDC PERPShow all 25 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter S | +0.0096% | 1h | 0.03937 | −0.076% | $165K | $240K | 5x | as long as short |
| Hyperliquid S | +0.0100% | 1h | 0.03933 | −0.170% | $994K | $899K | 5x | as long as short |
| Binance SUSDT | +0.0100% | 4h | 0.03934 | −0.144% | $5.4M | $23.4M | 75x | as long as short |
| Bybit SUSDT | +0.0100% | 4h | 0.03929 | −0.279% | $5.6M | $6.3M | 50x | as long as short |
| OKX S-USDT-SWAP | +0.0100% | 4h | 0.03933 | −0.178% | $980K | $7.3M | 20x | as long as short |
| Gate S_USDT | +0.0100% | 4h | 0.03930 | −0.254% | $321K | $292K | 50x | as long as short |
| MEXC S_USDT | +0.0100% | 4h | 0.03934 | −0.152% | $3.5M | $2.6M | 200x | as long as short |
| KuCoin SUSDTM | +0.0100% | 4h | 0.03930 | −0.254% | $1.8M | $3.1M | 50x | as long as short |
| Bitget SUSDT | +0.0100% | 4h | 0.03935 | −0.127% | $1.2M | $3.0M | 50x | as long as short |
| BingX S-USDT | +0.0100% | 4h | 0.03932 | −0.203% | — | $6.8M | — | as long as short |
| ApeX Omni SUSDT | +0.0100% | 1h | 0.03930 | −0.254% | $25K | $471K | 50x | as long as short |
| Extended S-USD | +0.0104% | 1h | 0.03933 | −0.177% | $221K | $883K | 10x | as long as short |
| Backpack S_USDC_PERPlong | +0.0330% | 1h | 0.03940 | long leg | $115K | $294K | 5x | |
| BloFin S-USDT | +0.0340% | 4h | 0.03927 | −0.330% | $267K | $159K | 75x | as long as short |
| Deribit S_USDC-PERPETUAL | +0.0512% | 1h | 0.03942 | +0.051% | $66K | $10K | 10x | as long as short |
Lighter S
Hyperliquid S
Binance SUSDT
Bybit SUSDT
OKX S-USDT-SWAP
Gate S_USDT
MEXC S_USDT
KuCoin SUSDTM
Bitget SUSDT
BingX S-USDT
ApeX Omni SUSDT
Extended S-USD
BloFin S-USDT
Deribit S_USDC-PERPETUAL