Funding arb · Price arb /

COIN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0060%/8h= +6.5% APRpaid last 24h +0.018%

Price spread now: Orderly against Arcus−0.045%7-day average — · you buy dearer than you sell

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

Long on Arcus Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 4 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. Orderly is 0.045% cheaper against Arcus than usual: you would sell low and buy high (spread −0.045% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 2.5 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus COIN-USD	198.09	0.0040	pay 0.0005% / 1h	12m 42s	$15K	$55K	5x
Short	Orderly PERP_COIN_USDC_mythos	198.00	0.0100	get 0.0100% / 8h	5h 12m	$573	$4K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Arcus. 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 ArcusbpFee OrderlybpOrdersPrice spread, now −0.045%Rate

Funding earned: $12.54
Price spread: −0.045% → 0.000%: −$4.54
Slippage, 4 orders: no order book: not counted
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$2.5
Costs to cover: 0.105%
Break-even: 8.4 days

Slippage unknown: Arcus: no order-book sample; Orderly: 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 Arcus no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

Arcus and 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.

COIN on 26 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
Bitget COINUSDT	−0.0660%	8h	198.06	−0.015%	$6.3M	$10.2M	20x	as long as short
Injective COIN/USDC PERP	−0.0440%	1h	198.08	−0.005%	$44K	$48K	30x	as long as short
Gate COIN_USDT	−0.0194%	8h	198.01	−0.040%	$1.2M	$7.1M	50x	as long as short
Vest COIN-USD-PERP	−0.0087%	1h	197.53	−0.283%	—	$284K	25x	as long as short
Aster COINUSDT	0.0000%	8h	198.15	+0.030%	$350K	$876K	20x	as long as short
Extended COIN_24_5-USD	0.0000%	1h	197.95	−0.069%	$117K	$696K	10x	as long as short
Binance COINUSDT	0.0000%	8h	198.00	−0.045%	$15.1M	$78.7M	20x	as long as short
Bybit COINUSDT	0.0000%	8h	198.01	−0.040%	$4.9M	$5.9M	50x	as long as short
OKX COIN-USDT-SWAP	0.0000%	8h	198.00	−0.045%	$3.1M	$4.6M	20x	as long as short
Variational Omni COIN	0.0000%	8h	198.13	+0.018%	$686K	$1.0M	—	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT COIN_USDT_Perp	0.0000%	8h	198.12	+0.015%	$15K	$2.1M	10x	as long as short
QFEX COIN-USD	+0.0016%	1h	197.94	−0.076%	$1.3M	$3.4M	10x	as long as short
Lighter COIN	+0.0032%	1h	197.96	−0.067%	$358K	$2.0M	10x	as long as short
Lighter RH COIN	+0.0032%	1h	197.95	−0.071%	$455K	$1.5M	10x	as long as short
Arcus COIN-USDlong	+0.0040%	1h	198.09	long leg	$15K	$55K	5x
edgeX COINUSDC	+0.0045%	4h	198.08	−0.004%	$51K	$295K	10x	as long as short
tradeXYZ xyz:COIN	+0.0050%	1h	197.90	−0.096%	$15.6M	$13.5M	10x	as long as short
Polymarket Perps COIN-USD	+0.0050%	1h	197.91	−0.091%	$125K	$1.2M	10x	as long as short
SoDEX COIN-USD	+0.0050%	1h	197.94	−0.076%	$78	$3K	10x	as long as short
Ondo Perps COIN-USD.P	+0.0050%	1h	197.73	−0.182%	$352K	$2.9M	10x	as long as short
KuCoin COINUSDTM	+0.0100%	8h	197.93	−0.081%	$997K	$143K	20x	as long as short
ApeX Omni COINUSDT	+0.0100%	1h	198.04	−0.025%	$89K	$287K	50x	as long as short
Orderly PERP_COIN_USDC_mythosshort	+0.0100%	8h	198.00	−0.045%	$573	$4K	10x
Aevo COIN-PERP	+0.0104%	1h	197.97	−0.059%	$117	—	10x	as long as short
BloFin COIN-USDT	+0.0120%	8h	198.02	−0.035%	$189K	$392K	20x	as long as short
Phoenix COIN	+0.0162%	1h	198.14	+0.025%	$5K	$281K	10x	as long as short