Funding arb · Price arb /

BE

RWAall BE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0056%/8h= +6.1% APRpaid last 24h +0.016%

Price spread now: BloFin against Coinbase International+0.433%7-day average +0.290% · you sell dearer than you buy

Net, funding: paid 7d − costs−$44as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$490.495% of the position

Long on Coinbase International Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.056%+$6 on $10k

Price spread, last 3 days (all we have)−0.185%−$18 · spread now +0.433%, 7d avg +0.290%

Together, before fees−0.129%−$13 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and BloFin is 0.143% dearer against Coinbase International than usual: you sell high and buy low: +$14 more if the spread goes back to its 7-day average of +0.290%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International BE-PERP-INTX	272.24	0.0064	pay 0.0008% / 1h	28m 21s	$467K	$121K	10x
Short	BloFin BE-USDT	273.42	0.0120	get 0.0120% / 8h	1h 28m	$45K	$141K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Coinbase International. 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 Coinbase InternationalbpFee BloFinbpOrdersPrice spread, now +0.433%Rate

Funding earned: $11.76
Price spread: +0.433% → +0.290%: $14.33
Slippage, 4 orders: −$27.49
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$23.41
Costs to cover: 0.495%
Break-even: 20.9 days

Slippage from Coinbase International: live order book, 55 min ago; BloFin: live order book, 45 min ago.

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 live order book, 55 min ago	5.14 bp	11.2 bp −$11	22.5 bp −$225	doesn't fit	doesn't fit
Sell BloFin live order book, 45 min ago	2.75 bp	14.9 bp −$15	30.9 bp −$309	doesn't fit	doesn't fit

BE on 21 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
Aster BEUSDT	0.0000%	8h	273.27	+0.379%	$344K	$117K	20x	as long as short
Extended BE-USD	0.0000%	1h	273.43	+0.436%	$46K	$270K	10x	as long as short
Binance BEUSDT	0.0000%	8h	273.48	+0.455%	$8.5M	$37.4M	25x	as long as short
Bybit BEUSDT	0.0000%	8h	273.37	+0.415%	$2.0M	$1.2M	25x	as long as short
Gate BE_USDT	0.0000%	8h	273.20	+0.353%	$1.5M	$3.7M	50x	as long as short
Bitget BEUSDT	0.0000%	8h	273.32	+0.397%	$1.7M	$2.7M	20x	as long as short
GRVT BE_USDT_Perp	0.0000%	8h	273.24	+0.367%	$7K	$191K	10x	as long as short
SunX BE-USDT	0.0000%	8h	273.27	+0.378%	$1K	$2.6M	10x	as long as short
HTX BE-USDT	0.0000%	8h	273.40	+0.426%	$13K	$33K	20x	as long as short
Lighter BE	+0.0032%	1h	273.15	+0.334%	—	—	10x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH BE	+0.0032%	1h	273.39	+0.422%	$249K	$424K	10x	as long as short
QFEX BE-USD	+0.0035%	1h	273.44	+0.441%	$1.3M	$3.8M	10x	as long as short
Arcus BE-USD	+0.0040%	1h	273.19	+0.349%	$114K	$134K	10x	as long as short
Vest BE-USD-PERP	+0.0046%	1h	273.05	+0.298%	—	—	10x	as long as short
Coinbase International BE-PERP-INTXlong	+0.0064%	1h	272.24	long leg	$467K	$121K	10x
OKX BE-USDT-SWAP	+0.0074%	8h	273.50	+0.463%	$2.6M	$6.8M	25x	as long as short
KuCoin BEUSDTM	+0.0100%	8h	273.07	+0.305%	$369K	$23K	20x	as long as short
Aevo BE-PERP	+0.0104%	1h	273.42	+0.433%	—	—	10x	as long as short
BloFin BE-USDTshort	+0.0120%	8h	273.42	+0.433%	$45K	$141K	20x
tradeXYZ xyz:BE	+0.0170%	1h	273.25	+0.371%	$5.9M	$2.9M	10x	as long as short
Deribit BE_USDC-PERPETUAL	+0.0885%	1h	273.46	+0.448%	$6K	$4K	10x	as long as short