Funding arb · Price arb /

TIA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.045%

Price spread now: Deribit against Bybit+0.113%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Bybit Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Deribit is 0.113% dearer against Bybit than usual: you sell high and buy low (spread +0.113% now, against zero (this spread has no 7-day history yet)): +$11 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 3.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit TIAUSDT	0.4432	0.0100	pay 0.0050% / 4h	41m 12s	$10.0M	$13.9M	50x
Short	Deribit TIA_USDC-PERPETUAL	0.4437	0	get 0.0000% / 1h	41m 12s	$31K	$25K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Bybit. 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 BybitbpFee DeribitbpOrdersPrice spread, now +0.113%Rate

Funding earned: −$21
Price spread: +0.113% → 0.000%: $11.28
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$27.72
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 2 min ago; Deribit: no order-book sample. Net counts fees only.

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 Bybit live order book, 2 min ago	2.26 bp	15.2 bp −$15	34.7 bp −$347	202.8 bp −$20.3K	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0136%	1h	0.4429	−0.068%	$51K	$224K	50x	as long as short
Kraken Futures PF_TIAUSD	−0.0007%	1h	0.4428	−0.081%	$351K	$202K	50x	as long as short
Deribit TIA_USDC-PERPETUALshort	0.0000%	1h	0.4437	+0.113%	$31K	$25K	25x
gTrade (Gains Network) TIA/USD	L +0.0002% / S 0.0000%	1h	0.4435	+0.068%	$1K	—	150x	as long as short
Injective TIA/USDC PERP	+0.0014%	1h	0.4437	+0.113%	$24K	$12K	12x	as long as short
GMX TIA/USD [ETH-USDC]	L +0.0015% / S +0.0056%	1h	0.4435	+0.070%	$6K	—	100x	as long as short
OKX TIA-USDT-SWAP	+0.0051%	4h	0.4430	−0.045%	$2.8M	$6.7M	50x	as long as short
Lighter TIA	+0.0096%	1h	0.4439	+0.165%	$153K	$423K	10x	as long as short
Orderly PERP_TIA_USDC	+0.0099%	4h	0.4436	+0.090%	$7K	$236K	10x	as long as short
Hyperliquid TIA	+0.0100%	1h	0.4442	+0.223%	$4.8M	$1.5M	5x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster TIAUSDT	+0.0100%	4h	0.4433	+0.015%	$33K	$247K	10x	as long as short
Binance TIAUSDT	+0.0100%	4h	0.4435	+0.067%	$14.0M	$47.8M	75x	as long as short
Bybit TIAUSDTlong	+0.0100%	4h	0.4432	long leg	$10.0M	$13.9M	50x
Gate TIA_USDT	+0.0100%	4h	0.4437	+0.113%	$1.0M	$1.9M	75x	as long as short
MEXC TIA_USDT	+0.0100%	4h	0.4436	+0.090%	$12.6M	$14.0M	300x	as long as short
KuCoin TIAUSDTM	+0.0100%	4h	0.4433	+0.023%	$4.2M	$9.9M	50x	as long as short
Bitget TIAUSDT	+0.0100%	4h	0.4433	+0.023%	$4.4M	$4.0M	75x	as long as short
BingX TIA-USDC	+0.0100%	4h	0.4433	+0.023%	—	$6.5M	—	as long as short
Backpack TIA_USDC_PERP	+0.0100%	1h	0.4437	+0.113%	$102K	$170K	10x	as long as short
Variational Omni TIA	+0.0100%	4h	0.4418	−0.324%	$103K	$50K	—	as long as short
HTX TIA-USDT	+0.0100%	4h	0.4434	+0.045%	$59K	$73K	50x	as long as short
Extended TIA-USD	+0.0104%	1h	0.4432	+0.007%	$57K	$210K	25x	as long as short
Aevo TIA-PERP	+0.0104%	1h	0.4436	+0.090%	$7K	—	3x	as long as short
dYdX TIA-USD	+0.0174%	1h	0.4436	+0.090%	$53K	$139	10x	as long as short
Reya TIARUSDPERP	+0.0182%	1h	0.4429	−0.061%	$6K	—	15x	as long as short
BloFin TIA-USDT	+0.0340%	4h	0.4434	+0.045%	$1.7M	$716K	75x	as long as short
Coinbase International TIA-PERP-INTX	+0.0432%	1h	0.4444	+0.271%	$48K	$94K	50x	as long as short