Funding arb · Price arb /

TIA

all TIA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.007%

Price spread now: Gate against Backpack−0.189%7-day average −0.006% · you buy dearer than you sell

Net, funding: paid 7d − costs−$86as in the Funding arb table

Net, price: spread back to 7d avg − costs−$97as in the Price arb table

costs, in and out, $10k−$780.781% of the position

Long on Backpack Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.075%−$8 on $10k

Price spread, last 4 days (all we have)+0.147%+$15 · spread now −0.189%, 7d avg −0.006%

Together, before fees+0.071%+$7 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: Gate is 0.184% cheaper against Backpack than usual: you would sell low and buy high, −$18 on $10k if it goes back to its 7-day average of −0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack TIA_USDC_PERP	0.4386	0.0100	pay 0.0013% / 1h	33m 32s	$101K	$165K	10x
Short	Gate TIA_USDT	0.4378	0.0100	get 0.0050% / 4h	2h 33m	$984K	$1.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.189%Rate

Funding earned: $0
Price spread: −0.189% → −0.006%: −$18.37
Slippage, 4 orders: −$53.14
Fee Backpack: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$96.5
Costs to cover: 0.781%
Break-even: never at this rate

Slippage from Backpack: live order book, 35 min ago; Gate: live order book, 4 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, 35 min ago	1.36 bp	14.5 bp −$14	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 4 min ago	4.59 bp	26.2 bp −$26	68.1 bp −$681	doesn't fit	doesn't fit

TIA on 26 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
ApeX Omni TIAUSDT	−0.0218%	1h	0.4379	−0.166%	$49K	$232K	50x	as long as short
OKX TIA-USDT-SWAP	−0.0091%	4h	0.4373	−0.303%	$2.8M	$6.0M	50x	as long as short
Kraken Futures PF_TIAUSD	−0.0003%	1h	0.4385	−0.025%	$358K	$214K	50x	as long as short
Deribit TIA_USDC-PERPETUAL	0.0000%	1h	0.4386	−0.007%	$31K	$27K	25x	as long as short
KuCoin TIAUSDTM	+0.0002%	4h	0.4374	−0.280%	$4.2M	$8.9M	50x	as long as short
gTrade (Gains Network) TIA/USD	L +0.0002% / S 0.0000%	1h	0.4379	−0.170%	$1K	—	150x	as long as short
Bybit TIAUSDT	+0.0042%	4h	0.4373	−0.303%	$9.5M	$13.1M	50x	as long as short
Lighter TIA	+0.0096%	1h	0.4383	−0.078%	$128K	$371K	10x	as long as short
Orderly PERP_TIA_USDC	+0.0099%	4h	0.4385	−0.030%	$5K	$327K	10x	as long as short
Hyperliquid TIA	+0.0100%	1h	0.4383	−0.071%	$4.6M	$1.6M	5x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster TIAUSDT	+0.0100%	4h	0.4379	−0.174%	$34K	$242K	10x	as long as short
Binance TIAUSDT	+0.0100%	4h	0.4379	−0.166%	$14.3M	$42.5M	75x	as long as short
Gate TIA_USDTshort	+0.0100%	4h	0.4378	−0.189%	$984K	$1.8M	75x
MEXC TIA_USDT	+0.0100%	4h	0.4378	−0.189%	$12.4M	$6.7M	300x	as long as short
Bitget TIAUSDT	+0.0100%	4h	0.4378	−0.189%	$4.5M	$3.5M	75x	as long as short
BingX TIA-USDC	+0.0100%	4h	0.4377	−0.212%	—	$6.5M	—	as long as short
Backpack TIA_USDC_PERPlong	+0.0100%	1h	0.4386	long leg	$101K	$165K	10x
Variational Omni TIA	+0.0100%	4h	0.4375	−0.262%	$102K	$84K	—	as long as short
HTX TIA-USDT	+0.0100%	4h	0.4386	−0.007%	$58K	$75K	50x	as long as short
Extended TIA-USD	+0.0104%	1h	0.4370	−0.364%	$42K	$198K	25x	as long as short
Aevo TIA-PERP	+0.0104%	1h	0.4386	−0.010%	$7K	—	3x	as long as short
Reya TIARUSDPERP	+0.0180%	1h	0.4374	−0.271%	$6K	—	15x	as long as short
dYdX TIA-USD	+0.0210%	1h	0.4382	−0.091%	$52K	$199	10x	as long as short
Injective TIA/USDC PERP	+0.0266%	1h	0.4378	−0.189%	$26K	$10K	12x	as long as short
Coinbase International TIA-PERP-INTX	+0.0304%	1h	0.4397	+0.244%	$51K	$76K	50x	as long as short
GMX TIA/USD [ETH-USDC]	L +0.0463% / S −0.3505%	1h	0.4379	−0.169%	$36K	—	100x	as long as short