Funding arb · Price arb /

ALT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0565%/8h= −61.9% APRnext payment −$0.71 per $10,000 · paid last 24h —

Price spread now: Deribit against Coinbase International−0.477%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 8 hours (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 −$17 a day on $10k at the current rate, and Deribit is 0.477% cheaper against Coinbase International than usual: you would sell low and buy high (−$48 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	Coinbase International ALT-PERP-INTX	0.007548	0.0416	pay 0.0052% / 1h	22m 40s	$14K	$3K	50x
Short	Deribit ALT_USDC-PERPETUAL	0.007512	−0.0149	pay 0.0019% / 1h	22m 40s	—	$0	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

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 DeribitbpOrdersPrice spread, now −0.477%Rate

Funding earned: −$118.69
Price spread: −0.477% → 0.000%: −$47.69
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: −$183.39
Costs to cover: 0.170%
Break-even: never at this rate

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.

ALT on 14 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 ALT_USDC-PERPETUALshort	−0.0149%	1h	0.007512	−0.477%	—	$0	25x
Kraken Futures PF_ALTUSD	−0.0089%	1h	0.007523	−0.332%	$44K	$8K	10x	as long as short
Variational Omni ALT	−0.0031%	4h	0.007512	−0.482%	$5K	$13K	—	as long as short
Injective ALT/USDC PERP	+0.0033%	1h	0.007381	−2.213%	$815	$4K	5.5x	as long as short
BloFin ALT-USDT	+0.0087%	4h	0.007507	−0.543%	$171K	$10K	50x	as long as short
Hyperliquid ALT	+0.0100%	1h	0.007514	−0.450%	$1.1M	$183K	3x	as long as short
Binance ALTUSDT	+0.0100%	4h	0.007520	−0.371%	$2.6M	$3.6M	50x	as long as short
Bybit ALTUSDT	+0.0100%	4h	0.007516	−0.424%	$1.2M	$1.6M	25x	as long as short
Gate ALT_USDT	+0.0100%	8h	0.007516	−0.424%	$50K	$412K	25x	as long as short
MEXC ALT_USDT	+0.0100%	4h	0.007520	−0.371%	$400K	$185K	50x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ALTUSDTM	+0.0100%	4h	0.007522	−0.344%	$149K	$21K	30x	as long as short
Bitget ALTUSDT	+0.0100%	4h	0.007512	−0.477%	$619K	$100K	50x	as long as short
BingX ALT-USDT	+0.0100%	4h	0.007513	−0.464%	—	$1.3M	—	as long as short
Coinbase International ALT-PERP-INTXlong	+0.0416%	1h	0.007548	long leg	$14K	$3K	50x