Funding arb · Price arb /

ATH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0112%/8h= +12.2% APRpaid last 24h +0.032%

Price spread now: BloFin against dYdX−0.177%92s7-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 BloFin

What this pair did over the last

the charts below follow

Funding, last 6 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. BloFin is 0.177% cheaper against dYdX than usual: you would sell low and buy high (spread −0.177% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$18 on $10k: about 5.3 days of funding at the current rate (+$3 a day). The two prices were read 92 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX ATH-USD	0.005510	0	get 0.0000% / 1h	49m 24s	$11K	$59	5x
Short	BloFin ATH-USDT	0.005500	0.0112	get 0.0056% / 4h	1h 49m	$162K	$70K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.177%Rate

Funding earned: $23.43
Price spread: −0.177% → 0.000%: −$17.66
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$16.23
Costs to cover: 0.220%
Break-even: 11.8 days

Slippage unknown: dYdX: no order-book sample; BloFin: live order book, 55 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 BloFin live order book, 55 min ago	3.65 bp	34.3 bp −$34	69.2 bp −$692	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 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
Kraken Futures PF_ATHUSD	−0.2525%	1h	0.005503	−0.114%	$16K	$61K	10x	as long as short
Variational Omni ATH	−0.0272%	4h	0.005492	−0.320%	$184K	$93K	—	as long as short
dYdX ATH-USDlong	0.0000%	1h	0.005510	long leg	$11K	$59	5x
Aster ATHUSDT	+0.0100%	4h	0.005509	−0.005%	$4K	$44K	5x	as long as short
Binance ATHUSDT	+0.0100%	4h	0.005509	−0.013%	$3.2M	$3.8M	50x	as long as short
Bybit ATHUSDT	+0.0100%	4h	0.005502	−0.140%	$4.3M	$2.4M	25x	as long as short
OKX ATH-USDT-SWAP	+0.0100%	4h	0.005496	−0.249%	$704K	$1.2M	20x	as long as short
Gate ATH_USDT	+0.0100%	4h	0.005498	−0.213%	$784K	$568K	30x	as long as short
MEXC ATH_USDT	+0.0100%	4h	0.005509	−0.013%	$8.9M	$541K	50x	as long as short
KuCoin ATHUSDTM	+0.0100%	4h	0.005499	−0.195%	$552K	$76K	30x	as long as short

Show all 13 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ATHUSDT	+0.0100%	4h	0.005505	−0.086%	$1.5M	$878K	25x	as long as short
BingX ATH-USDT	+0.0100%	4h	0.005499	−0.195%	—	$23.1M	—	as long as short
BloFin ATH-USDTshort	+0.0112%	4h	0.005500	−0.177%	$162K	$70K	75x