Funding arb · Price arb /

TIA

all TIA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.033%

Price spread now: Backpack against Binance+0.014%7-day average −0.022% · you sell dearer than you buy

Net, funding: paid 7d − costs−$46as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$450.455% of the position

Long on Binance Short on Backpack

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)−0.109%−$11 · spread now +0.014%, 7d avg −0.022%

Together, before fees−0.118%−$12 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: Backpack is 0.036% dearer against Binance than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.022%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance TIAUSDT	0.4369	0.0100	pay 0.0050% / 4h	9m 59s	$14.5M	$42.2M	75x
Short	Backpack TIA_USDC_PERP	0.4370	0.0100	get 0.0013% / 1h	9m 59s	$101K	$153K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Binance. 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 BinancebpFee BackpackbpOrdersPrice spread, now +0.014%Rate

Funding earned: $0
Price spread: +0.014% → −0.022%: $3.59
Slippage, 4 orders: −$25.49
Fee Binance: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$41.9
Costs to cover: 0.455%
Break-even: never at this rate

Slippage from Binance: live order book, 2 min ago; Backpack: 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 Binance live order book, 2 min ago	1.15 bp	10.6 bp −$11	22.6 bp −$226	136.6 bp −$13.7K	doesn't fit
Sell Backpack live order book, 3 min ago	1.15 bp	12.6 bp −$13	doesn't fit	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
OKX TIA-USDT-SWAP	−0.0204%	4h	0.4367	−0.046%	$2.8M	$6.0M	50x	as long as short
Kraken Futures PF_TIAUSD	−0.0163%	1h	0.4372	+0.059%	$359K	$246K	50x	as long as short
KuCoin TIAUSDTM	−0.0032%	4h	0.4366	−0.069%	$4.2M	$8.7M	50x	as long as short
Deribit TIA_USDC-PERPETUAL	0.0000%	1h	0.4371	+0.046%	$30K	$27K	25x	as long as short
gTrade (Gains Network) TIA/USD	L +0.0002% / S 0.0000%	1h	0.4370	+0.029%	$1K	—	150x	as long as short
ApeX Omni TIAUSDT	+0.0031%	1h	0.4358	−0.252%	$49K	$235K	50x	as long as short
Lighter TIA	+0.0096%	1h	0.4375	+0.135%	$139K	$362K	10x	as long as short
Orderly PERP_TIA_USDC	+0.0098%	4h	0.4368	−0.023%	$5K	$363K	10x	as long as short
Hyperliquid TIA	+0.0100%	1h	0.4377	+0.174%	$4.3M	$1.5M	5x	as long as short
Aster TIAUSDT	+0.0100%	4h	0.4367	−0.041%	$34K	$268K	10x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance TIAUSDTlong	+0.0100%	4h	0.4369	long leg	$14.5M	$42.2M	75x
Bybit TIAUSDT	+0.0100%	4h	0.4367	−0.046%	$9.6M	$13.2M	50x	as long as short
Gate TIA_USDT	+0.0100%	4h	0.4367	−0.046%	$981K	$1.8M	75x	as long as short
MEXC TIA_USDT	+0.0100%	4h	0.4368	−0.023%	$13.3M	$6.8M	300x	as long as short
Bitget TIAUSDT	+0.0100%	4h	0.4368	−0.023%	$4.5M	$3.5M	75x	as long as short
BingX TIA-USDT	+0.0100%	4h	0.4367	−0.046%	—	$99.1M	—	as long as short
Backpack TIA_USDC_PERPshort	+0.0100%	1h	0.4370	+0.014%	$101K	$153K	10x
Variational Omni TIA	+0.0100%	4h	0.4356	−0.301%	$102K	$84K	—	as long as short
HTX TIA-USDT	+0.0100%	4h	0.4370	+0.023%	$65K	$44K	50x	as long as short
Extended TIA-USD	+0.0104%	1h	0.4365	−0.088%	$55K	$169K	25x	as long as short
Aevo TIA-PERP	+0.0104%	1h	0.4368	−0.014%	$7K	—	3x	as long as short
Reya TIARUSDPERP	+0.0179%	1h	0.4365	−0.082%	$6K	—	15x	as long as short
Coinbase International TIA-PERP-INTX	+0.0208%	1h	0.4389	+0.458%	$51K	$77K	50x	as long as short
Injective TIA/USDC PERP	+0.0210%	1h	0.4360	−0.206%	$26K	$10K	12x	as long as short
BloFin TIA-USDT	+0.0340%	4h	0.4361	−0.183%	$1.2M	$576K	75x	as long as short
GMX TIA/USD [ETH-USDC]	L +0.0460% / S −0.3505%	1h	0.4370	+0.022%	$36K	—	100x	as long as short
dYdX TIA-USD	+0.0714%	1h	0.4368	−0.023%	$52K	$59	10x	as long as short