Funding you earn now, next payment 06:00 UTC+0.0001%/8h= +0.1% APRpaid last 24h −0.021%
Price spread now: Backpack against Orderly−0.092%7-day average −0.010% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.036%−$4 on $10k
+Price spread, last 4 days (all we have)−0.007%−$1 · spread now −0.092%, 7d avg −0.010%
=Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Backpack is 0.082% cheaper against Orderly than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of −0.010%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Orderly PERP_TIA_USDC | 0.4362 | 0.0099 | pay 0.0050% / 4h | 2h 00m | $7K | $261K | 10x |
| Short | Backpack TIA_USDC_PERP | 0.4358 | 0.0100 | get 0.0013% / 1h | 0m 11s | $101K | $174K | 10x |
Orderly PERP_TIA_USDC
Backpack TIA_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Orderly. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $0.15
- Price spread: −0.092% → −0.010%
- −$8.19
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$24.03
- Costs to cover
- 0.160%
- Break-even
- 1119.7 days
Slippage unknown: Orderly: no order-book sample; Backpack: live order book, 48 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 Orderly no order-book sample | — | — | — | — | — |
| Sell Backpack live order book, 48 min ago | 1.37 bp | 14.0 bp −$14 | doesn't fit | doesn't fit | doesn't fit |
Orderly: 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit TIA_USDC-PERPETUAL | 0.0000% | 1h | 0.4362 | 0.000% | $30K | $25K | 25x | as long as short |
| gTrade (Gains Network) TIA/USD | L +0.0002% / S 0.0000% | 1h | 0.4362 | −0.008% | $1K | — | 150x | as long as short |
| ApeX Omni TIAUSDT | +0.0068% | 1h | 0.4370 | +0.183% | $50K | $227K | 50x | as long as short |
| OKX TIA-USDT-SWAP | +0.0090% | 4h | 0.4354 | −0.183% | $2.7M | $6.5M | 50x | as long as short |
| Lighter TIA | +0.0096% | 1h | 0.4365 | +0.057% | $150K | $432K | 10x | as long as short |
| Orderly PERP_TIA_USDClong | +0.0099% | 4h | 0.4362 | long leg | $7K | $261K | 10x | |
| Hyperliquid TIA | +0.0100% | 1h | 0.4364 | +0.041% | $4.7M | $1.5M | 5x | as long as short |
| Aster TIAUSDT | +0.0100% | 4h | 0.4364 | +0.046% | $32K | $247K | 10x | as long as short |
| Binance TIAUSDT | +0.0100% | 4h | 0.4360 | −0.042% | $13.6M | $47.5M | 75x | as long as short |
| Bybit TIAUSDT | +0.0100% | 4h | 0.4358 | −0.092% | $9.8M | $14.0M | 50x | as long as short |
Deribit TIA_USDC-PERPETUAL
gTrade (Gains Network) TIA/USD
ApeX Omni TIAUSDT
OKX TIA-USDT-SWAP
Lighter TIA
Hyperliquid TIA
Aster TIAUSDT
Binance TIAUSDT
Bybit TIAUSDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate TIA_USDT | +0.0100% | 4h | 0.4359 | −0.069% | $1.0M | $1.9M | 75x | as long as short |
| MEXC TIA_USDT | +0.0100% | 4h | 0.4361 | −0.023% | $13.2M | $14.2M | 300x | as long as short |
| KuCoin TIAUSDTM | +0.0100% | 4h | 0.4360 | −0.046% | $4.2M | $9.6M | 50x | as long as short |
| Bitget TIAUSDT | +0.0100% | 4h | 0.4357 | −0.115% | $4.4M | $3.9M | 75x | as long as short |
| BingX TIA-USDT | +0.0100% | 4h | 0.4357 | −0.115% | — | $103.1M | — | as long as short |
| Backpack TIA_USDC_PERPshort | +0.0100% | 1h | 0.4358 | −0.092% | $101K | $174K | 10x | |
| Variational Omni TIA | +0.0100% | 4h | 0.4363 | +0.016% | $102K | $51K | — | as long as short |
| HTX TIA-USDT | +0.0100% | 4h | 0.4366 | +0.092% | $58K | $73K | 50x | as long as short |
| Extended TIA-USD | +0.0104% | 1h | 0.4357 | −0.104% | $55K | $212K | 25x | as long as short |
| Aevo TIA-PERP | +0.0104% | 1h | 0.4361 | −0.019% | $7K | — | 3x | as long as short |
| GMX TIA/USD [ETH-USDC] | L +0.0152% / S +0.0052% | 1h | 0.4362 | −0.010% | $6K | — | 100x | as long as short |
| Reya TIARUSDPERP | +0.0181% | 1h | 0.4356 | −0.130% | $6K | — | 15x | as long as short |
| Kraken Futures PF_TIAUSD | +0.0192% | 1h | 0.4363 | +0.016% | $346K | $204K | 50x | as long as short |
| Injective TIA/USDC PERP | +0.0237% | 1h | 0.4382 | +0.459% | $25K | $11K | 12x | as long as short |
| BloFin TIA-USDT | +0.0340% | 4h | 0.4364 | +0.046% | $1.6M | $704K | 75x | as long as short |
| dYdX TIA-USD | +0.0348% | 1h | 0.4366 | +0.092% | $52K | $139 | 10x | as long as short |
| Coinbase International TIA-PERP-INTX | +0.0400% | 1h | 0.4395 | +0.757% | $47K | $87K | 50x | as long as short |
Gate TIA_USDT
MEXC TIA_USDT
KuCoin TIAUSDTM
Bitget TIAUSDT
BingX TIA-USDT
Variational Omni TIA
HTX TIA-USDT
Extended TIA-USD
Aevo TIA-PERP
GMX TIA/USD [ETH-USDC]
Reya TIARUSDPERP
Kraken Futures PF_TIAUSD
Injective TIA/USDC PERP
BloFin TIA-USDT
dYdX TIA-USD
Coinbase International TIA-PERP-INTX