Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.1164%/8h= +127.5% APRpaid last 24h +0.535%

Price spread now: Binance against Coinbase International+5.466%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 Binance

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 +$35 a day on $10k at the current rate, and Binance is 5.466% dearer against Coinbase International than usual: you sell high and buy low: +$547 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	0.04073	−0.1064	get 0.0133% / 1h	14m 36s	$49K	$17K	25x
Short	Binance SUSDT	0.04296	0.0100	get 0.0050% / 4h	14m 36s	$6.1M	$14.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +5.466%Rate

Funding earned: $244.44
Price spread: +5.466% → 0.000%: $546.56
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: $771
Costs to cover: 0.200%
Break-even: from the start

Slippage unknown: Coinbase International: no order-book sample; Binance: live order book, 11 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 Binance live order book, 11 min ago	3.59 bp	20.2 bp −$20	81.8 bp −$818	583.9 bp −$58.4K	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
01 Exchange SUSD	−1.1992%	1h	0.04070	−0.074%	$25K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.1850%	1h	0.04271	+4.868%	$37K	$20K	10x	as long as short
Coinbase International S-PERP-INTXlong	−0.1064%	1h	0.04073	long leg	$49K	$17K	25x
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.04281	+5.102%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.04281	+5.098%	$4	—	15x	as long as short
Variational Omni S	−0.0006%	4h	0.04257	+4.514%	$660K	$5K	—	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04280	+5.083%	$660	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+0.663%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0089%	4h	0.04273	+4.910%	$106K	$601K	10x	as long as short
Lighter S	+0.0096%	1h	0.04294	+5.426%	$185K	$143K	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	0.04290	+5.338%	$1.1M	$623K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04295	+5.458%	$46K	$147K	10x	as long as short
Binance SUSDTshort	+0.0100%	4h	0.04296	+5.466%	$6.1M	$14.6M	75x
Bybit SUSDT	+0.0100%	4h	0.04288	+5.279%	$6.1M	$4.4M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.04297	+5.500%	$1.1M	$4.2M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.04292	+5.377%	$346K	$201K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.04295	+5.451%	$4.4M	$2.0M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.04291	+5.352%	$2.0M	$2.8M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.04299	+5.549%	$1.3M	$2.4M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.04296	+5.475%	—	$6.9M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.04200	+3.118%	$24K	$501K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.04291	+5.364%	$239K	$1.3M	10x	as long as short
Deribit S_USDC-PERPETUAL	+0.0218%	1h	0.04278	+5.033%	$72K	$10K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.04298	+5.524%	$293K	$125K	75x	as long as short
Backpack S_USDC_PERP	+0.1002%	1h	0.04290	+5.328%	$107K	$466K	5x	as long as short