Funding you earn now, next payment 22:00 UTC−0.0664%/8h= −72.7% APRnext payment −$0.83 per $10,000 · paid last 24h −0.125%
Price spread now: SoDEX against Backpack+0.104%50s7-day average −0.075% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$280.279% of the position
Funding, last 3 days (all we have)−0.190%−$19 on $10k
+Price spread, last 3 days (all we have)+1.186%+$119 · spread now +0.104%, 7d avg −0.075%
=The price spread pays, funding is against you. SoDEX is 0.179% dearer against Backpack than usual: you sell high and buy low (spread +0.104% now, against its 7-day average of −0.075%): +$18 on $10k if it goes back. Holding the pair costs −$20 a day in funding at the current rate, which eats that in about 22 hours. At the pace of the last 3 days (−0.190% in total) that is about 2.9 days. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.190% in total (about -22.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.83 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack ARB_USDC_PERP | 0.2215 | 0.0534 | pay 0.0067% / 1h | 4m 15s | $1.1M | $2.7M | 20x |
| Short | SoDEX ARB-USD | 0.2217 | −0.0130 | pay 0.0016% / 1h | 4m 15s | $4K | $2.9M | 5x |
Backpack ARB_USDC_PERP
SoDEX ARB-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
SoDEX against Backpack. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$139.39
- Price spread: +0.104% → −0.075%
- $17.87
- Slippage, 4 orders
- −$9.94
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee SoDEX: 4 bp × 2 orders
- −$8
- Net
- −$149.46
- Costs to cover
- 0.279%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 5 min ago; SoDEX: live order book, 5 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, 5 min ago | 1.12 bp | 7.1 bp −$7 | doesn't fit | doesn't fit | doesn't fit |
| Sell SoDEX live order book, 5 min ago | 0.22 bp | 5.6 bp −$6 | 19.2 bp −$192 | doesn't fit | doesn't fit |
ARB on 36 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective ARB/USDC PERP | −0.1675% | 1h | 0.2196 | −0.858% | $40K | $197K | 12x | as long as short |
| 01 Exchange ARBUSD | −0.0280% | 1h | 0.2214 | −0.045% | $7K | $2K | 10x | as long as short |
| Variational Omni ARB | −0.0154% | 8h | 0.2225 | +0.449% | $1.9M | $2.8M | — | as long as short |
| Bybit ARBUSDT | −0.0130% | 8h | 0.2218 | +0.122% | $56.7M | $136.8M | 50x | as long as short |
| SoDEX ARB-USDshort | −0.0130% | 1h | 0.2217 | +0.104% | $4K | $2.9M | 5x | |
| OKX ARB-USDT-SWAP | −0.0109% | 8h | 0.2218 | +0.144% | $22.1M | $163.4M | 50x | as long as short |
| MEXC ARB_USDT | −0.0108% | 8h | 0.2214 | −0.050% | $36.6M | $64.1M | 200x | as long as short |
| Polymarket Perps ARB-USD | −0.0075% | 1h | 0.2214 | −0.050% | $76K | $2.2M | 10x | as long as short |
| Kraken Futures PF_ARBUSD | −0.0054% | 1h | 0.2220 | +0.226% | $1.1M | $5.3M | 50x | as long as short |
| Binance ARBUSDT | −0.0026% | 8h | 0.2218 | +0.157% | $63.1M | $325.1M | 75x | as long as short |
Injective ARB/USDC PERP
01 Exchange ARBUSD
Variational Omni ARB
Bybit ARBUSDT
OKX ARB-USDT-SWAP
MEXC ARB_USDT
Polymarket Perps ARB-USD
Kraken Futures PF_ARBUSD
Binance ARBUSDTShow all 36 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Extended ARB-USD | −0.0024% | 1h | 0.2215 | +0.003% | $351K | $2.4M | 25x | as long as short |
| Orderly PERP_ARB_USDC | −0.0022% | 8h | 0.2216 | +0.045% | $11K | $390K | 10x | as long as short |
| dYdX ARB-USD | 0.0000% | 1h | 0.2215 | −0.009% | $65K | $4K | 10x | as long as short |
| Deribit ARB_USDC-PERPETUAL | 0.0000% | 1h | 0.2218 | +0.126% | $36K | $22K | 25x | as long as short |
| Gate ARB_USDT | +0.0002% | 8h | 0.2215 | +0.014% | $5.5M | $21.7M | 60x | as long as short |
| gTrade (Gains Network) ARB/USD | L +0.0005% / S −0.0005% | 1h | 0.2216 | +0.045% | $55K | — | 150x | as long as short |
| Aevo ARB-PERP | +0.0072% | 1h | 0.2216 | +0.044% | $145K | $12K | 3x | as long as short |
| Bitget ARBUSDT | +0.0089% | 8h | 0.2216 | +0.045% | $20.7M | $38.3M | 50x | as long as short |
| BingX ARB-USDC | +0.0089% | 8h | 0.2213 | −0.104% | — | $6.5M | — | as long as short |
| BloFin ARB-USDT | +0.0095% | 8h | 0.2213 | −0.108% | $3.0M | $3.2M | 75x | as long as short |
| Lighter ARB | +0.0096% | 1h | 0.2218 | +0.149% | $1.3M | $7.8M | 15x | as long as short |
| Hyperliquid ARB | +0.0100% | 1h | 0.2217 | +0.077% | $39.5M | $52.5M | 10x | as long as short |
| Aster ARBUSDT | +0.0100% | 8h | 0.2212 | −0.118% | $687K | $1.7M | 20x | as long as short |
| Pacifica ARB | +0.0100% | 1h | 0.2216 | +0.036% | $45K | $200K | 10x | as long as short |
| KuCoin ARBUSDTM | +0.0100% | 8h | 0.2215 | +0.009% | $20.4M | $16.9M | 75x | as long as short |
| edgeX ARBUSDC | +0.0100% | 4h | 0.2231 | +0.714% | $36K | $459K | 20x | as long as short |
| GRVT ARB_USDT_Perp | +0.0100% | 8h | 0.2231 | +0.724% | $483K | $4.1M | 10x | as long as short |
| ApeX Omni ARBUSDT | +0.0100% | 1h | 0.2228 | +0.587% | $121K | $297K | 50x | as long as short |
| SunX ARB-USDT | +0.0100% | 8h | 0.2219 | +0.181% | $2K | $1.1M | 30x | as long as short |
| HTX ARB-USDT | +0.0100% | 8h | 0.2218 | +0.117% | $273K | $1.2M | 50x | as long as short |
| Phemex ARBUSDT | +0.0100% | 8h | 0.2216 | +0.045% | $5.2M | $13.7M | 50x | as long as short |
| GMX ARB/USD [ARB-USDC] | L +0.0153% / S −0.0018% | 1h | 0.2216 | +0.055% | $840K | — | 150x | as long as short |
| Coinbase International ARB-PERP-INTX | +0.0288% | 1h | 0.2221 | +0.271% | $504K | $2.5M | 50x | as long as short |
| Reya ARBRUSDPERP | +0.0291% | 1h | 0.2214 | −0.054% | $2K | $695 | 20x | as long as short |
| Backpack ARB_USDC_PERPlong | +0.0534% | 1h | 0.2215 | long leg | $1.1M | $2.7M | 20x | |
| RISEx ARB/USDC | +0.0546% | 1h | 0.2216 | +0.063% | $491K | $2.8M | 10x | as long as short |
Extended ARB-USD
Orderly PERP_ARB_USDC
dYdX ARB-USD
Deribit ARB_USDC-PERPETUAL
Gate ARB_USDT
gTrade (Gains Network) ARB/USD
Aevo ARB-PERP
Bitget ARBUSDT
BingX ARB-USDC
BloFin ARB-USDT
Lighter ARB
Hyperliquid ARB
Aster ARBUSDT
Pacifica ARB
KuCoin ARBUSDTM
edgeX ARBUSDC
GRVT ARB_USDT_Perp
ApeX Omni ARBUSDT
SunX ARB-USDT
HTX ARB-USDT
Phemex ARBUSDT
GMX ARB/USD [ARB-USDC]
Coinbase International ARB-PERP-INTX
Reya ARBRUSDPERP
RISEx ARB/USDC