S

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.1918%/8h= +210.0% APRnext payment +$2.40 per $10,000 · paid last 24h +0.654%

Price spread now: Backpack against Coinbase International+2.980%7-day average — · you sell dearer than you buy

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

Long on Coinbase International Short on Backpack

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 for this trade now. Funding pays +$58 a day on $10k at the current rate, and Backpack is 2.980% dearer against Coinbase International than usual: you sell high and buy low: +$298 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International S-PERP-INTX	0.03826	−0.1576	get 0.0197% / 1h	39m 06s	$47K	$5K	25x
Short	Backpack S_USDC_PERP	0.03940	0.0342	get 0.0043% / 1h	39m 06s	$115K	$300K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Coinbase International. 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 Coinbase InternationalbpFee BackpackbpOrdersPrice spread, now +2.980%Rate

Funding earned: $402.74
Price spread: +2.980% → 0.000%: $297.96
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: $680.7
Costs to cover: 0.200%
Break-even: from the start

Slippage unknown: Coinbase International: no order-book sample; Backpack: live order book, 44 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 Coinbase International no order-book sample	—	—	—	—	—
Sell Backpack live order book, 44 min ago	12.71 bp	32.3 bp −$32	doesn't fit	doesn't fit	doesn't fit

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	−0.1588%	1h	0.03937	+2.890%	$33K	$26K	10x	as long as short
Coinbase International S-PERP-INTXlong	−0.1576%	1h	0.03826	long leg	$47K	$5K	25x
Variational Omni S	−0.0886%	4h	0.03930	+2.719%	$611K	$31K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0194% / S +0.0188%	1h	0.03943	+3.058%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03938	+2.929%	$4	—	15x	as long as short
01 Exchange SUSD	−0.0008%	1h	0.03940	+2.980%	$24K	$2K	5x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03942	+3.042%	$608	—	150x	as long as short
Orderly PERP_S_USDC	+0.0024%	4h	0.03941	+3.006%	$100K	$347K	10x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+7.162%	$2K	$37K	12x	as long as short
Aster SUSDT	+0.0060%	4h	0.03939	+2.965%	$43K	$212K	10x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter S	+0.0096%	1h	0.03942	+3.032%	$165K	$222K	5x	as long as short
Hyperliquid S	+0.0100%	1h	0.03939	+2.964%	$989K	$756K	5x	as long as short
Binance SUSDT	+0.0100%	4h	0.03941	+3.006%	$5.4M	$20.0M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03933	+2.797%	$5.6M	$5.8M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.03938	+2.927%	$982K	$6.3M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.03933	+2.797%	$321K	$265K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03940	+2.980%	$3.6M	$2.3M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03934	+2.823%	$1.8M	$3.0M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03939	+2.953%	$1.2M	$2.7M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03936	+2.875%	—	$6.8M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03940	+2.980%	$25K	$465K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03938	+2.930%	$221K	$881K	10x	as long as short
Deribit S_USDC-PERPETUAL	+0.0257%	1h	0.03944	+3.084%	$66K	$10K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03930	+2.718%	$268K	$127K	75x	as long as short
Backpack S_USDC_PERPshort	+0.0342%	1h	0.03940	+2.980%	$115K	$300K	5x