Funding arb · Price arb /

TIA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.062%

Price spread now: Binance against Deribit−0.100%7-day average — · you buy dearer than you sell

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

Long on Deribit Short on Binance

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

Funding pays, the price is against you. Binance is 0.100% cheaper against Deribit than usual: you would sell low and buy high (spread −0.100% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$10 on $10k: about 3.3 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit TIA_USDC-PERPETUAL	0.4376	0	get 0.0000% / 1h	39m 31s	$30K	$27K	25x
Short	Binance TIAUSDT	0.4372	0.0100	get 0.0050% / 4h	3h 39m	$14.5M	$41.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Deribit. 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 DeribitbpFee BinancebpOrdersPrice spread, now −0.100%Rate

Funding earned: $21
Price spread: −0.100% → 0.000%: −$10.02
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Binance: 5 bp × 2 orders: −$10
Net: −$6.02
Costs to cover: 0.170%
Break-even: 9.0 days

Slippage unknown: Deribit: no order-book sample; Binance: live order book, 2 min ago. 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 Deribit no order-book sample	—	—	—	—	—
Sell Binance live order book, 2 min ago	1.14 bp	10.2 bp −$10	20.0 bp −$200	91.9 bp −$9,189	doesn't fit

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
OKX TIA-USDT-SWAP	−0.0185%	4h	0.4368	−0.183%	$2.8M	$6.0M	50x	as long as short
Kraken Futures PF_TIAUSD	−0.0153%	1h	0.4377	+0.023%	$360K	$246K	50x	as long as short
KuCoin TIAUSDTM	−0.0054%	4h	0.4369	−0.160%	$4.2M	$8.8M	50x	as long as short
Deribit TIA_USDC-PERPETUALlong	0.0000%	1h	0.4376	long leg	$30K	$27K	25x
gTrade (Gains Network) TIA/USD	L +0.0002% / S 0.0000%	1h	0.4373	−0.065%	$1K	—	150x	as long as short
ApeX Omni TIAUSDT	+0.0041%	1h	0.4377	+0.023%	$49K	$234K	50x	as long as short
Lighter TIA	+0.0096%	1h	0.4380	+0.091%	$139K	$359K	10x	as long as short
Orderly PERP_TIA_USDC	+0.0098%	4h	0.4375	−0.023%	$5K	$363K	10x	as long as short
Hyperliquid TIA	+0.0100%	1h	0.4377	+0.030%	$4.5M	$1.5M	5x	as long as short
Aster TIAUSDT	+0.0100%	4h	0.4379	+0.061%	$34K	$249K	10x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance TIAUSDTshort	+0.0100%	4h	0.4372	−0.100%	$14.5M	$41.4M	75x
Bybit TIAUSDT	+0.0100%	4h	0.4369	−0.160%	$9.6M	$13.0M	50x	as long as short
Gate TIA_USDT	+0.0100%	4h	0.4374	−0.046%	$981K	$1.8M	75x	as long as short
MEXC TIA_USDT	+0.0100%	4h	0.4372	−0.091%	$13.2M	$6.7M	300x	as long as short
Bitget TIAUSDT	+0.0100%	4h	0.4374	−0.046%	$4.5M	$3.4M	75x	as long as short
BingX TIA-USDC	+0.0100%	4h	0.4372	−0.091%	—	$6.5M	—	as long as short
Backpack TIA_USDC_PERP	+0.0100%	1h	0.4376	0.000%	$101K	$153K	10x	as long as short
Variational Omni TIA	+0.0100%	4h	0.4376	−0.004%	$102K	$84K	—	as long as short
HTX TIA-USDT	+0.0100%	4h	0.4372	−0.091%	$58K	$68K	50x	as long as short
Extended TIA-USD	+0.0104%	1h	0.4371	−0.123%	$55K	$169K	25x	as long as short
Aevo TIA-PERP	+0.0104%	1h	0.4375	−0.011%	$7K	—	3x	as long as short
Injective TIA/USDC PERP	+0.0117%	1h	0.4385	+0.206%	$27K	$10K	12x	as long as short
Reya TIARUSDPERP	+0.0179%	1h	0.4370	−0.128%	$6K	—	15x	as long as short
Coinbase International TIA-PERP-INTX	+0.0256%	1h	0.4389	+0.297%	$51K	$75K	50x	as long as short
BloFin TIA-USDT	+0.0340%	4h	0.4378	+0.046%	$1.2M	$578K	75x	as long as short
GMX TIA/USD [ETH-USDC]	L +0.0460% / S −0.3505%	1h	0.4373	−0.075%	$36K	—	100x	as long as short
dYdX TIA-USD	+0.0788%	1h	0.4376	+0.008%	$52K	$59	10x	as long as short