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 −0.028%

Price spread now: Backpack against BingX−0.178%7-day average +0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs−$53as in the Funding arb table

Net, price: spread back to 7d avg − costs−$64as in the Price arb table

costs, in and out, $10k−$450.450% of the position

Long on BingX Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.082%−$8 on $10k

Price spread, last 4 days (all we have)+0.183%+$18 · spread now −0.178%, 7d avg +0.015%

Together, before fees+0.101%+$10 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 0.193% cheaper against BingX than usual: you would sell low and buy high, −$19 on $10k if it goes back to its 7-day average of +0.015%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX TIA-USDT	0.4385	0.0100	pay 0.0050% / 4h	2h 32m	—	$99.0M	—
Short	Backpack TIA_USDC_PERP	0.4377	0.0100	get 0.0013% / 1h	32m 45s	$101K	$165K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against BingX. 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 BingXbpFee BackpackbpOrdersPrice spread, now −0.178%Rate

Funding earned: $0
Price spread: −0.178% → +0.015%: −$19.29
Slippage, 4 orders: −$25.05
Fee BingX: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$64.34
Costs to cover: 0.450%
Break-even: never at this rate

Slippage from BingX: live order book, 11 min ago; Backpack: live order book, 35 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 BingX live order book, 11 min ago	1.14 bp	10.7 bp −$11	17.2 bp −$172	64.3 bp −$6,428	356.4 bp −$178.2K
Sell Backpack live order book, 35 min ago	1.36 bp	11.4 bp −$11	doesn't fit	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	−0.137%	$49K	$232K	50x	as long as short
OKX TIA-USDT-SWAP	−0.0087%	4h	0.4391	+0.137%	$2.8M	$6.0M	50x	as long as short
Kraken Futures PF_TIAUSD	−0.0003%	1h	0.4379	−0.130%	$358K	$214K	50x	as long as short
Deribit TIA_USDC-PERPETUAL	0.0000%	1h	0.4379	−0.137%	$30K	$27K	25x	as long as short
gTrade (Gains Network) TIA/USD	L +0.0002% / S 0.0000%	1h	0.4379	−0.140%	$1K	—	150x	as long as short
KuCoin TIAUSDTM	+0.0006%	4h	0.4391	+0.137%	$4.2M	$8.9M	50x	as long as short
Bybit TIAUSDT	+0.0064%	4h	0.4393	+0.182%	$9.6M	$13.1M	50x	as long as short
Lighter TIA	+0.0096%	1h	0.4398	+0.299%	$156K	$403K	10x	as long as short
Orderly PERP_TIA_USDC	+0.0099%	4h	0.4378	−0.160%	$5K	$328K	10x	as long as short
Hyperliquid TIA	+0.0100%	1h	0.4395	+0.223%	$4.7M	$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	0.4383	−0.037%	$34K	$244K	10x	as long as short
Binance TIAUSDT	+0.0100%	4h	0.4393	+0.178%	$14.3M	$42.5M	75x	as long as short
Gate TIA_USDT	+0.0100%	4h	0.4383	−0.046%	$985K	$1.8M	75x	as long as short
MEXC TIA_USDT	+0.0100%	4h	0.4394	+0.205%	$12.4M	$6.7M	300x	as long as short
Bitget TIAUSDT	+0.0100%	4h	0.4394	+0.205%	$4.5M	$3.5M	75x	as long as short
BingX TIA-USDTlong	+0.0100%	4h	0.4385	long leg	—	$99.0M	—
Backpack TIA_USDC_PERPshort	+0.0100%	1h	0.4377	−0.178%	$101K	$165K	10x
Variational Omni TIA	+0.0100%	4h	0.4375	−0.232%	$102K	$84K	—	as long as short
HTX TIA-USDT	+0.0100%	4h	0.4383	−0.046%	$58K	$75K	50x	as long as short
Extended TIA-USD	+0.0104%	1h	0.4379	−0.129%	$42K	$198K	25x	as long as short
Aevo TIA-PERP	+0.0104%	1h	0.4379	−0.129%	$7K	—	3x	as long as short
Reya TIARUSDPERP	+0.0180%	1h	0.4374	−0.242%	$6K	—	15x	as long as short
dYdX TIA-USD	+0.0202%	1h	0.4392	+0.166%	$52K	$199	10x	as long as short
Injective TIA/USDC PERP	+0.0266%	1h	0.4378	−0.160%	$26K	$10K	12x	as long as short
Coinbase International TIA-PERP-INTX	+0.0304%	1h	0.4397	+0.274%	$51K	$76K	50x	as long as short
GMX TIA/USD [ETH-USDC]	L +0.0463% / S −0.3505%	1h	0.4379	−0.139%	$36K	—	100x	as long as short