Funding arb · Price arb /

TIA

all TIA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.034%

Price spread now: Binance against Backpack−0.055%7-day average +0.024% · you buy dearer than you sell

Net, funding: paid 7d − costs−$48as in the Funding arb table

Net, price: spread back to 7d avg − costs−$57as in the Price arb table

costs, in and out, $10k−$490.489% of the position

Long on Backpack Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.009%+$1 on $10k

Price spread, last 4 days (all we have)+0.241%+$24 · spread now −0.055%, 7d avg +0.024%

Together, before fees+0.250%+$25 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Binance is 0.079% cheaper against Backpack than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of +0.024%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack TIA_USDC_PERP	0.4326	0.0100	pay 0.0013% / 1h	15m 09s	$100K	$151K	10x
Short	Binance TIAUSDT	0.4324	0.0100	get 0.0050% / 4h	2h 15m	$14.1M	$41.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Backpack. 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 BackpackbpFee BinancebpOrdersPrice spread, now −0.055%Rate

Funding earned: $0
Price spread: −0.055% → +0.024%: −$7.92
Slippage, 4 orders: −$28.89
Fee Backpack: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$56.82
Costs to cover: 0.489%
Break-even: never at this rate

Slippage from Backpack: live order book, 8 min ago; Binance: live order book, 12 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 Backpack live order book, 8 min ago	1.61 bp	12.5 bp −$13	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 12 min ago	1.15 bp	9.8 bp −$10	30.9 bp −$309	121.4 bp −$12.1K	doesn't fit

TIA 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
Kraken Futures PF_TIAUSD	−0.0388%	1h	0.4331	+0.110%	$356K	$239K	50x	as long as short
Deribit TIA_USDC-PERPETUAL	−0.0212%	1h	0.4326	−0.009%	$30K	$27K	25x	as long as short
Bybit TIAUSDT	−0.0085%	4h	0.4324	−0.055%	$9.4M	$13.0M	50x	as long as short
Gate TIA_USDT	−0.0060%	4h	0.4324	−0.055%	$997K	$1.8M	75x	as long as short
OKX TIA-USDT-SWAP	−0.0037%	4h	0.4325	−0.032%	$2.7M	$5.8M	50x	as long as short
ApeX Omni TIAUSDT	−0.0029%	1h	0.4330	+0.083%	$49K	$236K	50x	as long as short
KuCoin TIAUSDTM	−0.0026%	4h	0.4323	−0.079%	$4.2M	$8.6M	50x	as long as short
gTrade (Gains Network) TIA/USD	L +0.0002% / S 0.0000%	1h	0.4328	+0.048%	$1K	—	150x	as long as short
Variational Omni TIA	+0.0057%	4h	0.4324	−0.048%	$101K	$85K	—	as long as short
Lighter TIA	+0.0096%	1h	0.4331	+0.106%	$128K	$353K	10x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_TIA_USDC	+0.0098%	4h	0.4326	−0.009%	$5K	$360K	10x	as long as short
Hyperliquid TIA	+0.0100%	1h	0.4331	+0.099%	$4.2M	$1.5M	5x	as long as short
Aster TIAUSDT	+0.0100%	4h	0.4324	−0.059%	$34K	$272K	10x	as long as short
Binance TIAUSDTshort	+0.0100%	4h	0.4324	−0.055%	$14.1M	$41.0M	75x
MEXC TIA_USDT	+0.0100%	4h	0.4324	−0.055%	$9.1M	$5.6M	300x	as long as short
Bitget TIAUSDT	+0.0100%	4h	0.4323	−0.079%	$4.4M	$3.5M	75x	as long as short
BingX TIA-USDC	+0.0100%	4h	0.4325	−0.032%	—	$6.5M	—	as long as short
Backpack TIA_USDC_PERPlong	+0.0100%	1h	0.4326	long leg	$100K	$151K	10x
HTX TIA-USDT	+0.0100%	4h	0.4325	−0.032%	$64K	$38K	50x	as long as short
Extended TIA-USD	+0.0104%	1h	0.4324	−0.063%	$58K	$165K	25x	as long as short
Aevo TIA-PERP	+0.0104%	1h	0.4325	−0.021%	$7K	—	3x	as long as short
Reya TIARUSDPERP	+0.0178%	1h	0.4323	−0.071%	$6K	—	15x	as long as short
Coinbase International TIA-PERP-INTX	+0.0200%	1h	0.4345	+0.430%	$48K	$72K	50x	as long as short
Injective TIA/USDC PERP	+0.0210%	1h	0.4331	+0.106%	$26K	$10K	12x	as long as short
BloFin TIA-USDT	+0.0340%	4h	0.4325	−0.032%	$1.0M	$542K	75x	as long as short
GMX TIA/USD [ETH-USDC]	L +0.0457% / S −0.3505%	1h	0.4327	+0.021%	$35K	—	100x	as long as short
dYdX TIA-USD	+0.0817%	1h	0.4331	+0.106%	$51K	$59	10x	as long as short