Funding arb · Price arb /

TIA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.024%

Price spread now: MEXC against Backpack−0.213%7-day average +0.024% · you buy dearer than you sell

Net, funding: paid 7d − costs−$32as in the Funding arb table

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

costs, in and out, $10k−$330.333% of the position

Long on Backpack Short on MEXC

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)+0.281%+$28 · spread now −0.213%, 7d avg +0.024%

Together, before fees+0.289%+$29 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: MEXC is 0.237% cheaper against Backpack than usual: you would sell low and buy high, −$24 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	0.4416	0.0100	pay 0.0013% / 1h	41m 49s	$103K	$153K	10x
Short	MEXC TIA_USDT	0.4407	0.0100	get 0.0050% / 4h	1h 41m	$12.3M	$6.5M	300x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.213%Rate

Funding earned: $0
Price spread: −0.213% → +0.024%: −$23.67
Slippage, 4 orders: −$23.27
Fee Backpack: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: −$56.94
Costs to cover: 0.333%
Break-even: never at this rate

Slippage from Backpack: live order book, 21 min ago; MEXC: live order book, 6 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, 21 min ago	0.91 bp	14.9 bp −$15	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 6 min ago	1.13 bp	4.0 bp −$4	12.1 bp −$121	43.7 bp −$4,373	121.9 bp −$61.0K

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	−0.0036%	1h	0.4408	−0.190%	$50K	$232K	50x	as long as short
Bybit TIAUSDT	−0.0008%	4h	0.4403	−0.303%	$9.5M	$13.3M	50x	as long as short
Deribit TIA_USDC-PERPETUAL	0.0000%	1h	0.4418	+0.036%	$31K	$27K	25x	as long as short
gTrade (Gains Network) TIA/USD	L +0.0002% / S 0.0000%	1h	0.4420	+0.079%	$1K	—	150x	as long as short
KuCoin TIAUSDTM	+0.0020%	4h	0.4406	−0.235%	$4.2M	$9.0M	50x	as long as short
OKX TIA-USDT-SWAP	+0.0029%	4h	0.4404	−0.281%	$2.8M	$6.1M	50x	as long as short
Kraken Futures PF_TIAUSD	+0.0075%	1h	0.4422	+0.126%	$361K	$208K	50x	as long as short
Variational Omni TIA	+0.0089%	4h	0.4399	−0.400%	$103K	$84K	—	as long as short
Lighter TIA	+0.0096%	1h	0.4410	−0.145%	$156K	$413K	10x	as long as short
Orderly PERP_TIA_USDC	+0.0100%	4h	0.4417	+0.014%	$5K	$317K	10x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid TIA	+0.0100%	1h	0.4411	−0.122%	$4.7M	$1.6M	5x	as long as short
Aster TIAUSDT	+0.0100%	4h	0.4410	−0.154%	$32K	$246K	10x	as long as short
Binance TIAUSDT	+0.0100%	4h	0.4405	−0.258%	$14.5M	$42.7M	75x	as long as short
Gate TIA_USDT	+0.0100%	4h	0.4408	−0.190%	$992K	$1.8M	75x	as long as short
MEXC TIA_USDTshort	+0.0100%	4h	0.4407	−0.213%	$12.3M	$6.5M	300x
Bitget TIAUSDT	+0.0100%	4h	0.4407	−0.213%	$4.5M	$3.4M	75x	as long as short
BingX TIA-USDT	+0.0100%	4h	0.4405	−0.258%	—	$99.0M	—	as long as short
Backpack TIA_USDC_PERPlong	+0.0100%	1h	0.4416	long leg	$103K	$153K	10x
HTX TIA-USDT	+0.0100%	4h	0.4423	+0.149%	$59K	$74K	50x	as long as short
Extended TIA-USD	+0.0104%	1h	0.4404	−0.290%	$56K	$212K	25x	as long as short
Aevo TIA-PERP	+0.0104%	1h	0.4417	+0.014%	$7K	—	3x	as long as short
Reya TIARUSDPERP	+0.0180%	1h	0.4416	−0.013%	$6K	—	15x	as long as short
dYdX TIA-USD	+0.0231%	1h	0.4408	−0.186%	$52K	$199	10x	as long as short
BloFin TIA-USDT	+0.0340%	4h	0.4421	+0.104%	$1.5M	$709K	75x	as long as short
Coinbase International TIA-PERP-INTX	+0.0376%	1h	0.4430	+0.308%	$52K	$76K	50x	as long as short
GMX TIA/USD [ETH-USDC]	L +0.0494% / S −0.1196%	1h	0.4419	+0.048%	$40K	—	100x	as long as short
Injective TIA/USDC PERP	+0.0496%	1h	0.4410	−0.145%	$26K	$10K	12x	as long as short