Funding arb · Price arb /

TIA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0029%/8h= −3.2% APRpaid last 24h +0.047%

Price spread now: OKX against Deribit−0.138%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 OKX

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

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and OKX is 0.138% cheaper against Deribit than usual: you would sell low and buy high (−$14 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit TIA_USDC-PERPETUAL	0.4341	0	get 0.0000% / 1h	21m 42s	$30K	$27K	25x
Short	OKX TIA-USDT-SWAP	0.4335	−0.0029	pay 0.0014% / 4h	2h 21m	$2.7M	$5.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.138%Rate

Funding earned: −$6.06
Price spread: −0.138% → 0.000%: −$13.82
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee OKX: 5 bp × 2 orders: −$10
Net: −$36.88
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Deribit: no order-book sample; OKX: live order book, 1 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 OKX live order book, 1 min ago	1.15 bp	15.6 bp −$16	55.5 bp −$555	doesn't fit	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
Kraken Futures PF_TIAUSD	−0.0387%	1h	0.4341	+0.001%	$357K	$239K	50x	as long as short
Bybit TIAUSDT	−0.0131%	4h	0.4336	−0.115%	$9.4M	$13.0M	50x	as long as short
ApeX Omni TIAUSDT	−0.0079%	1h	0.4329	−0.276%	$49K	$235K	50x	as long as short
Gate TIA_USDT	−0.0034%	4h	0.4335	−0.138%	$1.0M	$1.8M	75x	as long as short
OKX TIA-USDT-SWAPshort	−0.0029%	4h	0.4335	−0.138%	$2.7M	$5.8M	50x
KuCoin TIAUSDTM	−0.0006%	4h	0.4335	−0.138%	$4.2M	$8.6M	50x	as long as short
Deribit TIA_USDC-PERPETUALlong	0.0000%	1h	0.4341	long leg	$30K	$27K	25x
gTrade (Gains Network) TIA/USD	L +0.0002% / S 0.0000%	1h	0.4341	0.000%	$1K	—	150x	as long as short
Variational Omni TIA	+0.0039%	4h	0.4337	−0.084%	$101K	$85K	—	as long as short
Lighter TIA	+0.0096%	1h	0.4342	+0.032%	$128K	$353K	10x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_TIA_USDC	+0.0099%	4h	0.4339	−0.046%	$5K	$360K	10x	as long as short
Hyperliquid TIA	+0.0100%	1h	0.4344	+0.071%	$4.2M	$1.5M	5x	as long as short
Aster TIAUSDT	+0.0100%	4h	0.4337	−0.087%	$35K	$272K	10x	as long as short
Binance TIAUSDT	+0.0100%	4h	0.4337	−0.092%	$14.1M	$41.1M	75x	as long as short
MEXC TIA_USDT	+0.0100%	4h	0.4336	−0.115%	$9.1M	$5.6M	300x	as long as short
Bitget TIAUSDT	+0.0100%	4h	0.4335	−0.138%	$4.5M	$3.5M	75x	as long as short
BingX TIA-USDC	+0.0100%	4h	0.4335	−0.138%	—	$6.5M	—	as long as short
Backpack TIA_USDC_PERP	+0.0100%	1h	0.4339	−0.048%	$103K	$150K	10x	as long as short
HTX TIA-USDT	+0.0100%	4h	0.4332	−0.207%	$64K	$38K	50x	as long as short
Extended TIA-USD	+0.0104%	1h	0.4335	−0.150%	$58K	$169K	25x	as long as short
Aevo TIA-PERP	+0.0104%	1h	0.4338	−0.067%	$7K	—	3x	as long as short
Reya TIARUSDPERP	+0.0178%	1h	0.4336	−0.106%	$6K	—	15x	as long as short
Coinbase International TIA-PERP-INTX	+0.0200%	1h	0.4345	+0.092%	$48K	$72K	50x	as long as short
Injective TIA/USDC PERP	+0.0210%	1h	0.4344	+0.069%	$26K	$10K	12x	as long as short
BloFin TIA-USDT	+0.0340%	4h	0.4340	−0.023%	$1.0M	$543K	75x	as long as short
GMX TIA/USD [ETH-USDC]	L +0.0457% / S −0.3505%	1h	0.4341	+0.001%	$35K	—	100x	as long as short
dYdX TIA-USD	+0.0860%	1h	0.4339	−0.048%	$52K	$59	10x	as long as short