Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.1460%/8h= +159.9% APRpaid last 24h +0.621%

Price spread now: BloFin against Coinbase International+2.070%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 BloFin

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 +$44 a day on $10k at the current rate, and BloFin is 2.070% dearer against Coinbase International than usual: you sell high and buy low: +$207 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	0.03961	−0.1120	get 0.0140% / 1h	39m 07s	$48K	$18K	25x
Short	BloFin S-USDT	0.04043	0.0340	get 0.0170% / 4h	1h 39m	$281K	$116K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +2.070%Rate

Funding earned: $306.6
Price spread: +2.070% → 0.000%: $207.02
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: $491.62
Costs to cover: 0.220%
Break-even: from the start

Slippage unknown: Coinbase International: no order-book sample; BloFin: live order book, 45 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 BloFin live order book, 45 min ago	9.95 bp	21.5 bp −$21	62.0 bp −$620	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
01 Exchange SUSD	−0.7984%	1h	0.03940	−0.530%	$24K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.2377%	1h	0.04056	+2.410%	$35K	$16K	10x	as long as short
Coinbase International S-PERP-INTXlong	−0.1120%	1h	0.03961	long leg	$48K	$18K	25x
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.04057	+2.421%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.04053	+2.332%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04057	+2.424%	$625	—	150x	as long as short
Variational Omni S	+0.0002%	4h	0.04052	+2.305%	$628K	$24K	—	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+3.509%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0085%	4h	0.04056	+2.398%	$101K	$573K	10x	as long as short
Lighter S	+0.0096%	1h	0.04061	+2.525%	$173K	$139K	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	0.04055	+2.363%	$1.0M	$595K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04056	+2.403%	$48K	$110K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.04056	+2.398%	$5.8M	$13.6M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.04051	+2.272%	$5.8M	$4.2M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.04052	+2.297%	$1.0M	$3.8M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.04048	+2.196%	$329K	$179K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.04055	+2.373%	$4.1M	$1.7M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.04053	+2.323%	$1.8M	$2.8M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.04056	+2.398%	$1.2M	$2.3M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.04053	+2.323%	—	$6.8M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.04060	+2.499%	$24K	$489K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.04054	+2.335%	$233K	$598K	10x	as long as short
BloFin S-USDTshort	+0.0340%	4h	0.04043	+2.070%	$281K	$116K	75x
Deribit S_USDC-PERPETUAL	+0.0489%	1h	0.04060	+2.499%	$68K	$10K	10x	as long as short
Backpack S_USDC_PERP	+0.1792%	1h	0.04060	+2.499%	$118K	$426K	5x	as long as short