Funding arb · Price arb /

ARB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0046%/8h= −5.1% APRpaid last 24h −0.145%

Price spread now: HTX against Backpack−0.105%7-day average −0.082% · you buy dearer than you sell

Net, funding: paid 7d − costs−$101as in the Funding arb table

Net, price: spread back to 7d avg − costs−$85as in the Price arb table

costs, in and out, $10k−$830.830% of the position

Long on Backpack Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.177%−$18 on $10k

Price spread, last 4 days (all we have)+1.312%+$131 · spread now −0.105%, 7d avg −0.082%

Together, before fees+1.135%+$114 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and HTX is 0.023% cheaper against Backpack than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.082%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack ARB_USDC_PERP	0.2190	0.0146	pay 0.0018% / 1h	53m 07s	$975K	$2.7M	20x
Short	HTX ARB-USDT	0.2187	0.0100	get 0.0100% / 8h	5h 53m	$296K	$816K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Backpack. 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 BackpackbpFee HTXbpOrdersPrice spread, now −0.105%Rate

Funding earned: −$9.7
Price spread: −0.105% → −0.082%: −$2.28
Slippage, 4 orders: −$60.97
Fee Backpack: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$94.95
Costs to cover: 0.830%
Break-even: never at this rate

Slippage from Backpack: live order book, 4 min ago; HTX: live order book, 58 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 Backpack live order book, 4 min ago	0.91 bp	9.1 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell HTX live order book, 58 min ago	7.09 bp	19.8 bp −$20	doesn't fit	doesn't fit	doesn't fit

ARB on 36 exchanges

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
Injective ARB/USDC PERP	−0.1736%	1h	0.2177	−0.575%	$39K	$372K	12x	as long as short
Kraken Futures PF_ARBUSD	−0.0230%	1h	0.2188	−0.090%	$1.1M	$4.2M	50x	as long as short
Bybit ARBUSDT	−0.0197%	8h	0.2187	−0.142%	$53.8M	$122.3M	50x	as long as short
SoDEX ARB-USD	−0.0175%	1h	0.2187	−0.142%	$9K	$2.2M	5x	as long as short
OKX ARB-USDT-SWAP	−0.0143%	8h	0.2186	−0.169%	$22.8M	$142.6M	50x	as long as short
MEXC ARB_USDT	−0.0141%	8h	0.2187	−0.128%	$44.2M	$61.0M	200x	as long as short
01 Exchange ARBUSD	−0.0128%	1h	0.2188	−0.091%	$7K	$414	10x	as long as short
Binance ARBUSDT	−0.0035%	8h	0.2188	−0.091%	$64.0M	$289.3M	75x	as long as short
Extended ARB-USD	−0.0032%	1h	0.2186	−0.178%	$359K	$3.0M	25x	as long as short
Variational Omni ARB	−0.0030%	8h	0.2186	−0.160%	$1.8M	$2.6M	—	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit ARB_USDC-PERPETUAL	−0.0024%	1h	0.2188	−0.087%	$29K	$36K	25x	as long as short
Orderly PERP_ARB_USDC	−0.0019%	8h	0.2187	−0.119%	$16K	$408K	10x	as long as short
dYdX ARB-USD	0.0000%	1h	0.2188	−0.085%	$64K	$3K	10x	as long as short
gTrade (Gains Network) ARB/USD	L +0.0005% / S −0.0006%	1h	0.2188	−0.062%	$73K	—	150x	as long as short
Polymarket Perps ARB-USD	+0.0025%	1h	0.2187	−0.114%	$73K	$1.9M	10x	as long as short
Gate ARB_USDT	+0.0029%	8h	0.2187	−0.114%	$5.4M	$16.3M	60x	as long as short
Phemex ARBUSDT	+0.0034%	8h	0.2187	−0.119%	$4.7M	$12.6M	50x	as long as short
Aevo ARB-PERP	+0.0072%	1h	0.2188	−0.073%	$139K	$7K	3x	as long as short
BloFin ARB-USDT	+0.0086%	8h	0.2187	−0.105%	$3.0M	$2.1M	75x	as long as short
Lighter ARB	+0.0096%	1h	0.2189	−0.046%	$1.3M	$5.3M	15x	as long as short
Hyperliquid ARB	+0.0100%	1h	0.2189	−0.032%	$35.6M	$49.5M	10x	as long as short
Aster ARBUSDT	+0.0100%	8h	0.2187	−0.102%	$626K	$1.6M	20x	as long as short
Pacifica ARB	+0.0100%	1h	0.2189	−0.034%	$42K	$143K	10x	as long as short
KuCoin ARBUSDTM	+0.0100%	8h	0.2188	−0.087%	$19.0M	$13.4M	75x	as long as short
Bitget ARBUSDT	+0.0100%	8h	0.2187	−0.119%	$21.0M	$33.6M	50x	as long as short
BingX ARB-USDC	+0.0100%	8h	0.2184	−0.242%	—	$6.5M	—	as long as short
edgeX ARBUSDC	+0.0100%	4h	0.2188	−0.062%	$40K	$464K	20x	as long as short
GRVT ARB_USDT_Perp	+0.0100%	8h	0.2188	−0.076%	$469K	$3.3M	10x	as long as short
ApeX Omni ARBUSDT	+0.0100%	1h	0.2186	−0.164%	$118K	$311K	50x	as long as short
SunX ARB-USDT	+0.0100%	8h	0.2190	+0.018%	$1K	$1.1M	30x	as long as short
HTX ARB-USDTshort	+0.0100%	8h	0.2187	−0.105%	$296K	$816K	50x
Backpack ARB_USDC_PERPlong	+0.0146%	1h	0.2190	long leg	$975K	$2.7M	20x
RISEx ARB/USDC	+0.0271%	1h	0.2189	−0.047%	$543K	$2.4M	10x	as long as short
GMX ARB/USD [ARB-USDC]	L +0.0282% / S −0.0166%	1h	0.2188	−0.079%	$847K	—	150x	as long as short
Reya ARBRUSDPERP	+0.0288%	1h	0.2187	−0.136%	$2K	$695	20x	as long as short
Coinbase International ARB-PERP-INTX	+0.0424%	1h	0.2196	+0.274%	$524K	$1.4M	50x	as long as short