Funding arb · Price arb /

TIA

all TIA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0240%/8h= +26.3% APRpaid last 24h +0.106%

Price spread now: BloFin against Backpack+0.185%66s7-day average +0.035% · you sell dearer than you buy

Net, funding: paid 7d − costs−$25as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$520.525% of the position

Long on Backpack Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.271%+$27 on $10k

Price spread, last 3 days (all we have)−0.019%−$2 · spread now +0.185%, 7d avg +0.035%

Together, before fees+0.252%+$25 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and BloFin is 0.150% dearer against Backpack than usual: you sell high and buy low: +$15 more if the spread goes back to its 7-day average of +0.035%. The two prices were read 66 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack TIA_USDC_PERP	0.4319	0.0100	pay 0.0013% / 1h	53m 40s	$100K	$150K	10x
Short	BloFin TIA-USDT	0.4327	0.0340	get 0.0170% / 4h	1h 53m	$1.0M	$542K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.185%Rate

Funding earned: $50.4
Price spread: +0.185% → +0.035%: $15.03
Slippage, 4 orders: −$30.5
Fee Backpack: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: $12.93
Costs to cover: 0.525%
Break-even: 5.2 days

Slippage from Backpack: live order book, 29 min ago; BloFin: live order book, 3 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, 29 min ago	1.61 bp	12.5 bp −$13	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 3 min ago	3.47 bp	14.0 bp −$14	29.2 bp −$292	77.5 bp −$7,752	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	−0.0229%	1h	0.4324	+0.127%	$356K	$239K	50x	as long as short
Deribit TIA_USDC-PERPETUAL	−0.0213%	1h	0.4321	+0.046%	$30K	$27K	25x	as long as short
ApeX Omni TIAUSDT	−0.0080%	1h	0.4307	−0.278%	$48K	$237K	50x	as long as short
Gate TIA_USDT	−0.0054%	4h	0.4315	−0.093%	$992K	$1.8M	75x	as long as short
KuCoin TIAUSDTM	−0.0052%	4h	0.4316	−0.069%	$4.2M	$8.5M	50x	as long as short
OKX TIA-USDT-SWAP	−0.0020%	4h	0.4313	−0.139%	$2.7M	$5.8M	50x	as long as short
gTrade (Gains Network) TIA/USD	L +0.0002% / S 0.0000%	1h	0.4324	+0.123%	$1K	—	150x	as long as short
Bybit TIAUSDT	+0.0024%	4h	0.4313	−0.139%	$9.4M	$13.0M	50x	as long as short
Variational Omni TIA	+0.0066%	4h	0.4320	+0.026%	$101K	$84K	—	as long as short
Lighter TIA	+0.0096%	1h	0.4321	+0.046%	$127K	$350K	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	0.4323	+0.093%	$5K	$360K	10x	as long as short
Hyperliquid TIA	+0.0100%	1h	0.4323	+0.090%	$4.2M	$1.5M	5x	as long as short
Aster TIAUSDT	+0.0100%	4h	0.4321	+0.043%	$34K	$272K	10x	as long as short
Binance TIAUSDT	+0.0100%	4h	0.4316	−0.080%	$14.1M	$40.8M	75x	as long as short
MEXC TIA_USDT	+0.0100%	4h	0.4318	−0.023%	$9.1M	$5.4M	300x	as long as short
Bitget TIAUSDT	+0.0100%	4h	0.4313	−0.139%	$4.4M	$3.5M	75x	as long as short
BingX TIA-USDT	+0.0100%	4h	0.4313	−0.139%	—	$99.0M	—	as long as short
Backpack TIA_USDC_PERPlong	+0.0100%	1h	0.4319	long leg	$100K	$150K	10x
HTX TIA-USDT	+0.0100%	4h	0.4324	+0.116%	$64K	$41K	50x	as long as short
Extended TIA-USD	+0.0104%	1h	0.4311	−0.195%	$58K	$165K	25x	as long as short
Aevo TIA-PERP	+0.0104%	1h	0.4321	+0.049%	$7K	—	3x	as long as short
Injective TIA/USDC PERP	+0.0106%	1h	0.4323	+0.093%	$26K	$10K	12x	as long as short
Reya TIARUSDPERP	+0.0179%	1h	0.4320	+0.023%	$6K	—	15x	as long as short
Coinbase International TIA-PERP-INTX	+0.0216%	1h	0.4345	+0.602%	$48K	$72K	50x	as long as short
BloFin TIA-USDTshort	+0.0340%	4h	0.4327	+0.185%	$1.0M	$542K	75x
GMX TIA/USD [ETH-USDC]	L +0.0457% / S −0.3505%	1h	0.4323	+0.094%	$35K	—	100x	as long as short
dYdX TIA-USD	+0.0459%	1h	0.4321	+0.036%	$51K	$59	10x	as long as short