Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.1916%/8h= −209.8% APRpaid last 24h −0.709%

Price spread now: Coinbase International against BloFin−2.048%7-day average — · you buy dearer than you sell

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

Long on BloFin Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 5 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 −$57 a day on $10k at the current rate, and Coinbase International is 2.048% cheaper against BloFin than usual: you would sell low and buy high (−$205 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	BloFin S-USDT	0.03906	0.0340	pay 0.0170% / 4h	1h 22m	$267K	$126K	75x
Short	Coinbase International S-PERP-INTX	0.03826	−0.1576	pay 0.0197% / 1h	22m 31s	$47K	$5K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against BloFin. 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 BloFinbpFee Coinbase InternationalbpOrdersPrice spread, now −2.048%Rate

Funding earned: −$402.36
Price spread: −2.048% → 0.000%: −$204.81
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$629.17
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: BloFin: live order book, 54 min ago; Coinbase International: 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 BloFin live order book, 54 min ago	2.54 bp	15.8 bp −$16	35.1 bp −$351	doesn't fit	doesn't fit
Sell Coinbase International no order-book sample	—	—	—	—	—

Coinbase International: 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	−0.1601%	1h	0.03905	−0.037%	$33K	$26K	10x	as long as short
Coinbase International S-PERP-INTXshort	−0.1576%	1h	0.03826	−2.048%	$47K	$5K	25x
Variational Omni S	−0.0835%	4h	0.03901	−0.140%	$607K	$31K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0196% / S +0.0189%	1h	0.03911	+0.131%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03908	+0.045%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03911	+0.135%	$603	—	150x	as long as short
Deribit S_USDC-PERPETUAL	+0.0006%	1h	0.03914	+0.205%	$66K	$10K	10x	as long as short
Orderly PERP_S_USDC	+0.0029%	4h	0.03908	+0.051%	$100K	$345K	10x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+4.967%	$2K	$37K	12x	as long as short
Lighter S	+0.0096%	1h	0.03911	+0.128%	$164K	$223K	5x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster SUSDT	+0.0096%	4h	0.03909	+0.068%	$43K	$212K	10x	as long as short
Hyperliquid S	+0.0100%	1h	0.03907	+0.015%	$980K	$716K	5x	as long as short
Binance SUSDT	+0.0100%	4h	0.03907	+0.026%	$5.3M	$18.9M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03902	−0.102%	$5.6M	$5.6M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.03907	+0.026%	$978K	$5.7M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.03903	−0.077%	$319K	$265K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03907	+0.026%	$3.5M	$2.3M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03901	−0.128%	$1.8M	$3.0M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03912	+0.154%	$1.2M	$2.6M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03908	+0.051%	—	$6.7M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03910	+0.102%	$25K	$464K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03907	+0.032%	$219K	$881K	10x	as long as short
01 Exchange SUSD	+0.0128%	1h	0.03910	+0.102%	$24K	$2K	5x	as long as short
BloFin S-USDTlong	+0.0340%	4h	0.03906	long leg	$267K	$126K	75x
Backpack S_USDC_PERP	+0.0434%	1h	0.03920	+0.358%	$114K	$301K	5x	as long as short