Funding you earn now, next payment 22:00 UTC−0.0092%/8h= −10.1% APRnext payment −$0.12 per $10,000 · paid last 24h +0.072%
Price spread now: Backpack against Coinbase International−0.153%7-day average +0.109% · you buy dearer than you sell
Net, funding: paid 7d − costs−$4as in the Funding arb table
Net, price: spread back to 7d avg − costs−$93as in the Price arb table
costs, in and out, $10k−$670.670% of the position
Funding, last 7 days+0.631%+$63 on $10k
+Price spread, last 3 days (all we have)+0.395%+$40 · spread now −0.153%, 7d avg +0.109%
=Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Backpack is 0.261% cheaper against Coinbase International than usual: you would sell low and buy high (−$26 if the spread goes back to its 7-day average of +0.109%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.631%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International SEI-PERP-INTX | 0.05898 | 0.0192 | pay 0.0024% / 1h | 2m 00s | $33K | $207K | 50x |
| Short | Backpack SEI_USDC_PERP | 0.05889 | 0.0100 | get 0.0013% / 1h | 2m 00s | $118K | $563K | 10x |
Coinbase International SEI-PERP-INTX
Backpack SEI_USDC_PERPFunding 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$19.32
- Price spread: −0.153% → +0.109%
- −$26.13
- Slippage, 4 orders
- −$46.98
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$112.43
- Costs to cover
- 0.670%
- Break-even
- never at this rate
Slippage from Coinbase International: live order book, 16 min ago; Backpack: live order book, 17 min ago.
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 live order book, 16 min ago | 11.90 bp | 18.5 bp −$19 | 178.0 bp −$1,780 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 17 min ago | 0.85 bp | 9.1 bp −$9 | doesn't fit | doesn't fit | doesn't fit |
SEI on 27 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 | |
|---|---|---|---|---|---|---|---|---|
| GMX SEI/USD [ETH-USDC] | L −0.0802% / S +0.0440% | 1h | 0.05886 | −0.200% | $23K | — | 100x | as long as short |
| gTrade (Gains Network) SEI/USD | L −0.0005% / S +0.0006% | 1h | 0.05887 | −0.187% | $8K | — | 150x | as long as short |
| Deribit SEI_USDC-PERPETUAL | 0.0000% | 1h | 0.05886 | −0.203% | $20K | $62K | 25x | as long as short |
| Variational Omni SEI | +0.0001% | 8h | 0.05874 | −0.412% | $310K | $232K | — | as long as short |
| Lighter SEI | +0.0096% | 1h | 0.05889 | −0.153% | $265K | $1.2M | 10x | as long as short |
| Orderly PERP_SEI_USDC | +0.0099% | 8h | 0.05885 | −0.220% | $2K | $110K | 20x | as long as short |
| Hyperliquid SEI | +0.0100% | 1h | 0.05889 | −0.146% | $3.4M | $6.5M | 5x | as long as short |
| Aster SEIUSDT | +0.0100% | 8h | 0.05890 | −0.143% | $308K | $368K | 20x | as long as short |
| Binance SEIUSDT | +0.0100% | 8h | 0.05889 | −0.158% | $13.7M | $125.7M | 75x | as long as short |
| Bybit SEIUSDT | +0.0100% | 8h | 0.05882 | −0.271% | $13.9M | $36.1M | 50x | as long as short |
GMX SEI/USD [ETH-USDC]
gTrade (Gains Network) SEI/USD
Deribit SEI_USDC-PERPETUAL
Variational Omni SEI
Lighter SEI
Orderly PERP_SEI_USDC
Hyperliquid SEI
Aster SEIUSDT
Binance SEIUSDT
Bybit SEIUSDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX SEI-USDT-SWAP | +0.0100% | 4h | 0.05881 | −0.288% | $3.0M | $39.6M | 50x | as long as short |
| Gate SEI_USDT | +0.0100% | 8h | 0.05886 | −0.203% | $1.1M | $3.5M | 75x | as long as short |
| MEXC SEI_USDT | +0.0100% | 8h | 0.05887 | −0.187% | $28.8M | $26.2M | 300x | as long as short |
| KuCoin SEIUSDTM | +0.0100% | 8h | 0.05887 | −0.187% | $6.7M | $14.1M | 75x | as long as short |
| Bitget SEIUSDT | +0.0100% | 8h | 0.05888 | −0.170% | $9.3M | $16.9M | 75x | as long as short |
| BingX SEI-USDT | +0.0100% | 8h | 0.05886 | −0.203% | — | $33.2M | — | as long as short |
| Backpack SEI_USDC_PERPshort | +0.0100% | 1h | 0.05889 | −0.153% | $118K | $563K | 10x | |
| GRVT SEI_USDT_Perp | +0.0100% | 8h | 0.05887 | −0.193% | $209K | $1.5M | 10x | as long as short |
| ApeX Omni SEIUSDT | +0.0100% | 1h | 0.05880 | −0.305% | $107K | $665K | 50x | as long as short |
| SunX SEI-USDT | +0.0100% | 8h | 0.05894 | −0.068% | $22K | $4.6M | 30x | as long as short |
| Extended SEI-USD | +0.0104% | 1h | 0.05888 | −0.172% | $75K | $476K | 25x | as long as short |
| Kraken Futures PF_SEIUSD | +0.0190% | 1h | 0.05886 | −0.201% | $372K | $1.6M | 50x | as long as short |
| Coinbase International SEI-PERP-INTXlong | +0.0192% | 1h | 0.05898 | long leg | $33K | $207K | 50x | |
| BloFin SEI-USDT | +0.0220% | 8h | 0.05889 | −0.153% | $694K | $1.2M | 75x | as long as short |
| Reya SEIRUSDPERP | +0.0346% | 1h | 0.05889 | −0.153% | $112 | — | 20x | as long as short |
| Injective SEI/USDC PERP | +0.0864% | 1h | 0.05883 | −0.254% | $8K | $42K | 12x | as long as short |
| dYdX SEI-USD | +0.2680% | 1h | 0.05888 | −0.167% | $100K | $2K | 5x | as long as short |
OKX SEI-USDT-SWAP
Gate SEI_USDT
MEXC SEI_USDT
KuCoin SEIUSDTM
Bitget SEIUSDT
BingX SEI-USDT
GRVT SEI_USDT_Perp
ApeX Omni SEIUSDT
SunX SEI-USDT
Extended SEI-USD
Kraken Futures PF_SEIUSD
BloFin SEI-USDT
Reya SEIRUSDPERP
Injective SEI/USDC PERP
dYdX SEI-USD