Funding arb · Price arb /

TOWNS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.6040%/8h= +661.4% APRnext payment +$7.55 per $10,000 · paid last 24h —

Price spread now: Deribit against Coinbase International−0.849%7-day average — · you buy dearer than you sell

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

Long on Coinbase International Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days—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. Deribit is 0.849% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.849% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$85 on $10k: about 11 hours of funding at the current rate (+$181 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International TOWNS-PERP-INTX	0.002121	−0.1992	get 0.0249% / 1h	22m 17s	$79K	$3K	25x
Short	Deribit TOWNS_USDC-PERPETUAL	0.002103	0.4048	get 0.0506% / 1h	22m 17s	—	—	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Coinbase International. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Coinbase InternationalbpFee DeribitbpOrdersPrice spread, now −0.849%Rate

Funding earned: $1,268.4
Price spread: −0.849% → 0.000%: −$84.87
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $1,166.53
Costs to cover: 0.170%
Break-even: 0.6 days

Slippage unknown: Coinbase International: no order-book sample; 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 Coinbase International no order-book sample	—	—	—	—	—
Sell Deribit no order-book sample	—	—	—	—	—

Coinbase International and 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.

TOWNS on 12 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
Coinbase International TOWNS-PERP-INTXlong	−0.1992%	1h	0.002121	long leg	$79K	$3K	25x
BloFin TOWNS-USDT	+0.0087%	4h	0.002094	−1.273%	$132K	$4K	10x	as long as short
Aster TOWNSUSDT	+0.0100%	4h	0.002093	−1.300%	$10K	$5K	5x	as long as short
Binance TOWNSUSDT	+0.0100%	4h	0.002096	−1.201%	$2.0M	$1.3M	10x	as long as short
Bybit TOWNSUSDT	+0.0100%	4h	0.002093	−1.320%	$378K	$131K	5x	as long as short
Gate TOWNS_USDT	+0.0100%	4h	0.002095	−1.226%	$71K	$17K	10x	as long as short
MEXC TOWNS_USDT	+0.0100%	4h	0.002094	−1.273%	$430K	$137K	100x	as long as short
KuCoin TOWNSUSDTM	+0.0100%	4h	0.002093	−1.320%	$244K	$33K	10x	as long as short
Bitget TOWNSUSDT	+0.0100%	4h	0.002091	−1.414%	$344K	$54K	5x	as long as short
BingX TOWNS-USDT	+0.0100%	4h	0.002094	−1.273%	—	$2.3M	—	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni TOWNS	+0.0100%	4h	0.002080	−1.929%	$194	$549	—	as long as short
Deribit TOWNS_USDC-PERPETUALshort	+0.4048%	1h	0.002103	−0.849%	—	—	25x