Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0081%/8h= +8.8% APRpaid last 24h +0.098%

Price spread now: BloFin against Deribit−0.255%7-day average — · you buy dearer than you sell

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

Long on Deribit Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 3 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

Funding pays, the price is against you. BloFin is 0.255% cheaper against Deribit than usual: you would sell low and buy high (spread −0.255% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$25 on $10k: about 11 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit S_USDC-PERPETUAL	0.03929	0.0259	pay 0.0032% / 1h	38m 25s	$66K	$10K	10x
Short	BloFin S-USDT	0.03919	0.0340	get 0.0170% / 4h	2h 38m	$269K	$106K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Deribit. 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 DeribitbpFee BloFinbpOrdersPrice spread, now −0.255%Rate

Funding earned: $16.95
Price spread: −0.255% → 0.000%: −$25.45
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$27.5
Costs to cover: 0.190%
Break-even: 18.4 days

Slippage unknown: Deribit: no order-book sample; BloFin: live order book, 51 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 Deribit no order-book sample	—	—	—	—	—
Sell BloFin live order book, 51 min ago	5.05 bp	21.4 bp −$21	54.9 bp −$549	doesn't fit	doesn't fit

Deribit: 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	−0.8432%	1h	0.03850	−2.011%	$24K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.1856%	1h	0.03918	−0.277%	$32K	$14K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1232%	1h	0.03919	−0.255%	$48K	$16K	25x	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.03930	+0.028%	$1K	—	100x	as long as short
Variational Omni S	−0.0119%	4h	0.03931	+0.048%	$611K	$30K	—	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03926	−0.085%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03929	−0.011%	$605	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+4.352%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0083%	4h	0.03924	−0.127%	$97K	$475K	10x	as long as short
Lighter S	+0.0096%	1h	0.03928	−0.025%	$166K	$138K	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	0.03929	−0.008%	$987K	$589K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.03929	+0.006%	$46K	$142K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.03929	0.000%	$5.5M	$13.6M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03922	−0.178%	$5.6M	$4.4M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.03925	−0.102%	$965K	$3.7M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.03918	−0.280%	$319K	$183K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03927	−0.051%	$3.6M	$1.7M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03930	+0.025%	$1.8M	$2.7M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03931	+0.051%	$1.2M	$2.3M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03925	−0.102%	—	$6.8M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03950	+0.534%	$4K	$472K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03921	−0.197%	$221K	$594K	10x	as long as short
Deribit S_USDC-PERPETUALlong	+0.0259%	1h	0.03929	long leg	$66K	$10K	10x
BloFin S-USDTshort	+0.0340%	4h	0.03919	−0.255%	$269K	$106K	75x
Backpack S_USDC_PERP	+0.1933%	1h	0.03930	+0.025%	$114K	$426K	5x	as long as short