Funding arb · Price arb /

S

all S markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.1860%/8h= −203.7% APRpaid last 24h −2.210%

Price spread now: 01 Exchange against Binance−2.442%7-day average — · you buy dearer than you sell

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

Long on Binance Short on 01 Exchange

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

Both sides work against this trade now: funding costs −$56 a day on $10k at the current rate, and 01 Exchange is 2.442% cheaper against Binance than usual: you would sell low and buy high (−$244 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	Binance SUSDT	0.03946	0.0100	pay 0.0050% / 4h	3h 32m	$5.5M	$13.9M	75x
Short	01 Exchange SUSD	0.03850	−0.1760	pay 0.0220% / 1h	32m 17s	$24K	$2K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange against Binance. 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 BinancebpFee 01 ExchangebpOrdersPrice spread, now −2.442%Rate

Funding earned: −$390.6
Price spread: −2.442% → 0.000%: −$244.16
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$651.76
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 8 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 Binance live order book, 8 min ago	1.26 bp	25.5 bp −$26	78.4 bp −$784	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	−0.2258%	1h	0.03946	−0.020%	$33K	$13K	10x	as long as short
01 Exchange SUSDshort	−0.1760%	1h	0.03850	−2.442%	$24K	$2K	5x
Coinbase International S-PERP-INTX	−0.1344%	1h	0.03927	−0.490%	$48K	$16K	25x	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.03946	−0.017%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03943	−0.083%	$4	—	15x	as long as short
Variational Omni S	−0.0027%	4h	0.03942	−0.115%	$612K	$30K	—	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03946	−0.012%	$608	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+3.893%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0081%	4h	0.03950	+0.092%	$98K	$282K	10x	as long as short
Lighter S	+0.0096%	1h	0.03950	+0.092%	$166K	$156K	5x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid S	+0.0100%	1h	0.03945	−0.037%	$988K	$592K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.03948	+0.046%	$47K	$142K	10x	as long as short
Binance SUSDTlong	+0.0100%	4h	0.03946	long leg	$5.5M	$13.9M	75x
Bybit SUSDT	+0.0100%	4h	0.03937	−0.237%	$5.6M	$4.5M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.03941	−0.136%	$982K	$3.8M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.03942	−0.110%	$321K	$189K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03945	−0.034%	$3.6M	$1.7M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03944	−0.060%	$1.8M	$2.7M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03949	+0.067%	$1.2M	$2.3M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03943	−0.085%	—	$6.8M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03960	+0.346%	$20K	$462K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03945	−0.026%	$224K	$1.1M	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03949	+0.067%	$273K	$102K	75x	as long as short
Deribit S_USDC-PERPETUAL	+0.1016%	1h	0.03953	+0.168%	$66K	$10K	10x	as long as short
Backpack S_USDC_PERP	+0.1663%	1h	0.03950	+0.092%	$115K	$424K	5x	as long as short