S

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.1081%/8h= +118.4% APRnext payment +$1.35 per $10,000 · paid last 24h +0.079%

Price spread now: Backpack against gTrade (Gains Network)−0.074%7-day average — · you buy dearer than you sell

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

Long on gTrade (Gains Network)Short on Backpack

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. Backpack is 0.074% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.074% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 6 hours of funding at the current rate (+$32 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) S/USD	0.03943	L +0.0001% / S +0.0006%	pay 0.0000% / 1h	4m 27s	$608	—	150x
Short	Backpack S_USDC_PERP	0.03940	0.1081	get 0.0135% / 1h	4m 27s	$115K	$421K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee BackpackbpOrdersPrice spread, now −0.074%Rate

Funding earned: $226.97
Price spread: −0.074% → 0.000%: −$7.43
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: $199.54
Costs to cover: 0.200%
Break-even: 0.8 days

Slippage unknown: gTrade (Gains Network): no order-book sample; Backpack: live order book, 54 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell Backpack live order book, 54 min ago	12.15 bp	24.7 bp −$25	doesn't fit	doesn't fit	doesn't fit

gTrade (Gains Network): 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	−0.6360%	1h	0.03930	−0.328%	$24K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.2598%	1h	0.03929	−0.343%	$33K	$13K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1376%	1h	0.03908	−0.886%	$47K	$16K	25x	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.03932	−0.270%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03940	−0.078%	$4	—	15x	as long as short
Variational Omni S	−0.0036%	4h	0.03906	−0.929%	$607K	$30K	—	as long as short
gTrade (Gains Network) S/USDlong	L +0.0001% / S +0.0006%	1h	0.03943	long leg	$608	—	150x
Injective S/USDC PERP	+0.0033%	1h	0.04100	+3.984%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0071%	4h	0.03932	−0.277%	$97K	$281K	10x	as long as short
Lighter S	+0.0096%	1h	0.03932	−0.277%	$165K	$158K	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	0.03941	−0.044%	$987K	$570K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.03933	−0.244%	$43K	$131K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.03939	−0.100%	$5.4M	$13.9M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03932	−0.277%	$5.6M	$4.6M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.03938	−0.125%	$998K	$3.8M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.03932	−0.277%	$321K	$199K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03940	−0.074%	$3.6M	$1.8M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03937	−0.150%	$1.8M	$2.7M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03946	+0.078%	$1.2M	$2.2M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03937	−0.150%	—	$6.8M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03990	+1.194%	$24K	$463K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03936	−0.179%	$221K	$1.1M	10x	as long as short
Deribit S_USDC-PERPETUAL	+0.0259%	1h	0.03935	−0.201%	$66K	$10K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03935	−0.201%	$267K	$99K	75x	as long as short
Backpack S_USDC_PERPshort	+0.1081%	1h	0.03940	−0.074%	$115K	$421K	5x