TIA

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0232%/8h= +25.4% APRnext payment +$0.29 per $10,000 · paid last 24h −0.037%

Price spread now: Kraken Futures against Backpack+0.123%7-day average +0.060% · you sell dearer than you buy

Net, funding: paid 7d − costs−$59as in the Funding arb table

Net, price: spread back to 7d avg − costs−$86as in the Price arb table

costs, in and out, $10k−$930.926% of the position

Long on Backpack Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.335%+$33 on $10k

Price spread, last 4 days (all we have)+0.144%+$14 · spread now +0.123%, 7d avg +0.060%

Together, before fees+0.479%+$48 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 Kraken Futures is 0.063% dearer against Backpack than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.060%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack TIA_USDC_PERP	0.4350	0.0100	pay 0.0013% / 1h	8m 25s	$102K	$168K	10x
Short	Kraken Futures PF_TIAUSD	0.4355	0.0332	get 0.0042% / 1h	8m 25s	$346K	$205K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.123%Rate

Funding earned: $48.72
Price spread: +0.123% → +0.060%: $6.27
Slippage, 4 orders: −$72.65
Fee Backpack: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$37.66
Costs to cover: 0.926%
Break-even: 12.4 days

Slippage from Backpack: live order book, 45 min ago; Kraken Futures: live order book, 44 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, 45 min ago	2.02 bp	12.9 bp −$13	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 44 min ago	24.71 bp	33.9 bp −$34	75.4 bp −$754	doesn't fit	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
ApeX Omni TIAUSDT	−0.0048%	1h	0.4376	+0.595%	$50K	$230K	50x	as long as short
Deribit TIA_USDC-PERPETUAL	0.0000%	1h	0.4356	+0.136%	$30K	$25K	25x	as long as short
gTrade (Gains Network) TIA/USD	L +0.0002% / S 0.0000%	1h	0.4359	+0.206%	$1K	—	150x	as long as short
Lighter TIA	+0.0096%	1h	0.4357	+0.154%	$155K	$422K	10x	as long as short
Orderly PERP_TIA_USDC	+0.0100%	4h	0.4357	+0.159%	$6K	$255K	10x	as long as short
Hyperliquid TIA	+0.0100%	1h	0.4355	+0.110%	$4.7M	$1.4M	5x	as long as short
Aster TIAUSDT	+0.0100%	4h	0.4351	+0.010%	$33K	$242K	10x	as long as short
Binance TIAUSDT	+0.0100%	4h	0.4351	+0.022%	$13.8M	$43.8M	75x	as long as short
Bybit TIAUSDT	+0.0100%	4h	0.4349	−0.025%	$9.8M	$13.6M	50x	as long as short
OKX TIA-USDT-SWAP	+0.0100%	4h	0.4347	−0.071%	$2.8M	$6.3M	50x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate TIA_USDT	+0.0100%	4h	0.4354	+0.090%	$989K	$1.8M	75x	as long as short
MEXC TIA_USDT	+0.0100%	4h	0.4353	+0.067%	$11.1M	$6.5M	300x	as long as short
KuCoin TIAUSDTM	+0.0100%	4h	0.4353	+0.067%	$4.2M	$9.3M	50x	as long as short
Bitget TIAUSDT	+0.0100%	4h	0.4349	−0.025%	$4.4M	$3.5M	75x	as long as short
BingX TIA-USDT	+0.0100%	4h	0.4351	+0.021%	—	$103.0M	—	as long as short
Backpack TIA_USDC_PERPlong	+0.0100%	1h	0.4350	long leg	$102K	$168K	10x
Variational Omni TIA	+0.0100%	4h	0.4361	+0.244%	$102K	$51K	—	as long as short
HTX TIA-USDT	+0.0100%	4h	0.4362	+0.274%	$58K	$73K	50x	as long as short
Extended TIA-USD	+0.0104%	1h	0.4349	−0.028%	$55K	$211K	25x	as long as short
Aevo TIA-PERP	+0.0104%	1h	0.4354	+0.087%	$7K	—	3x	as long as short
Reya TIARUSDPERP	+0.0181%	1h	0.4349	−0.036%	$6K	—	15x	as long as short
Injective TIA/USDC PERP	+0.0271%	1h	0.4382	+0.733%	$25K	$11K	12x	as long as short
Kraken Futures PF_TIAUSDshort	+0.0332%	1h	0.4355	+0.123%	$346K	$205K	50x
BloFin TIA-USDT	+0.0340%	4h	0.4353	+0.067%	$1.7M	$714K	75x	as long as short
GMX TIA/USD [ETH-USDC]	L +0.0360% / S −0.0613%	1h	0.4358	+0.188%	$23K	—	100x	as long as short
Coinbase International TIA-PERP-INTX	+0.0400%	1h	0.4376	+0.595%	$47K	$83K	50x	as long as short
dYdX TIA-USD	+0.0419%	1h	0.4353	+0.072%	$52K	$139	10x	as long as short