Funding arb · Price arb /

ATH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0112%/8h= +12.2% APRpaid last 24h +0.030%

Price spread now: Binance against dYdX−0.201%7-day average — · you buy dearer than you sell

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

Long on dYdX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 5 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. Binance is 0.201% cheaper against dYdX than usual: you would sell low and buy high (spread −0.201% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$20 on $10k: about 6.0 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX ATH-USD	0.005601	−0.0012	get 0.0001% / 1h	5m 15s	$11K	$16	5x
Short	Binance ATHUSDT	0.005589	0.0100	get 0.0050% / 4h	2h 05m	$3.4M	$3.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against dYdX. 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 dYdXbpFee BinancebpOrdersPrice spread, now −0.201%Rate

Funding earned: $23.49
Price spread: −0.201% → 0.000%: −$20.07
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$16.58
Costs to cover: 0.200%
Break-even: 11.9 days

Slippage unknown: dYdX: no order-book sample; Binance: live order book, 1 min ago. 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 dYdX no order-book sample	—	—	—	—	—
Sell Binance live order book, 1 min ago	2.68 bp	25.3 bp −$25	81.1 bp −$811	doesn't fit	doesn't fit

dYdX: 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.

ATH on 13 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
Kraken Futures PF_ATHUSD	−0.3512%	1h	0.005578	−0.402%	$20K	$107K	10x	as long as short
Variational Omni ATH	−0.0054%	4h	0.005575	−0.455%	$188K	$93K	—	as long as short
dYdX ATH-USDlong	−0.0012%	1h	0.005601	long leg	$11K	$16	5x
OKX ATH-USDT-SWAP	+0.0099%	4h	0.005587	−0.245%	$714K	$1.3M	20x	as long as short
BloFin ATH-USDT	+0.0100%	4h	0.005587	−0.245%	$174K	$62K	75x	as long as short
Aster ATHUSDT	+0.0100%	4h	0.005589	−0.206%	$7K	$35K	5x	as long as short
Binance ATHUSDTshort	+0.0100%	4h	0.005589	−0.201%	$3.4M	$3.9M	50x
Bybit ATHUSDT	+0.0100%	4h	0.005577	−0.424%	$4.5M	$2.3M	25x	as long as short
Gate ATH_USDT	+0.0100%	4h	0.005591	−0.174%	$800K	$532K	30x	as long as short
MEXC ATH_USDT	+0.0100%	4h	0.005591	−0.174%	$8.9M	$667K	50x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ATHUSDTM	+0.0100%	4h	0.005586	−0.263%	$561K	$84K	30x	as long as short
Bitget ATHUSDT	+0.0100%	4h	0.005597	−0.066%	$1.6M	$803K	25x	as long as short
BingX ATH-USDT	+0.0100%	4h	0.005582	−0.334%	—	$21.7M	—	as long as short