Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Backpack against Bitget+0.017%7-day average — · you sell dearer than you buy

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

Long on Bitget Short on Backpack

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

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget CCUSDT	0.1178	0.0100	pay 0.0050% / 4h	1h 16m	$924K	$788K	20x
Short	Backpack CC_USDC_PERP	0.1179	0.0100	get 0.0013% / 1h	16m 03s	$15K	$22K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Bitget. 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 BitgetbpFee BackpackbpOrdersPrice spread, now +0.017%Rate

Funding earned: $0
Price spread: +0.017% → 0.000%: $1.7
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$20.3
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Bitget: live order book, 45 min ago; Backpack: 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 Bitget live order book, 45 min ago	2.97 bp	36.7 bp −$37	91.9 bp −$919	doesn't fit	doesn't fit
Sell Backpack no order-book sample	—	—	—	—	—

Backpack: 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.

CC on 19 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 CC/USDC PERP	−0.4093%	1h	0.1180	+0.136%	$402	$3K	5.5x	as long as short
MEXC CC_USDT	−0.0084%	4h	0.1178	0.000%	$1.7M	$323K	100x	as long as short
Bybit CCUSDT	−0.0079%	4h	0.1179	+0.017%	$10.7M	$3.8M	25x	as long as short
Paradex CC-USD-PERP	+0.0097%	8h	0.1179	+0.084%	$1K	—	5x	as long as short
Aster CCUSDT	+0.0100%	4h	0.1180	+0.157%	$35K	$32K	20x	as long as short
Binance CCUSDT	+0.0100%	4h	0.1178	−0.004%	$11.1M	$12.1M	75x	as long as short
OKX CC-USDT-SWAP	+0.0100%	4h	0.1180	+0.127%	$2.6M	$3.4M	20x	as long as short
Gate CC_USDT	+0.0100%	4h	0.1179	+0.051%	$365K	$218K	50x	as long as short
KuCoin CCUSDTM	+0.0100%	4h	0.1181	+0.187%	$487K	$122K	50x	as long as short
Bitget CCUSDTlong	+0.0100%	4h	0.1178	long leg	$924K	$788K	20x

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX CC-USDT	+0.0100%	4h	0.1179	+0.051%	—	$6.6M	—	as long as short
Backpack CC_USDC_PERPshort	+0.0100%	1h	0.1179	+0.017%	$15K	$22K	10x
Variational Omni CC	+0.0100%	4h	0.1180	+0.112%	$601K	$55K	—	as long as short
GRVT CC_USDT_Perp	+0.0100%	4h	0.1180	+0.127%	$87K	$2.4M	10x	as long as short
Derive CC-PERP	+0.0100%	1h	0.1179	+0.041%	$6K	$36K	6.7x	as long as short
Hyperliquid CC	+0.0309%	1h	0.1181	+0.192%	$5.5M	$1.4M	3x	as long as short
BloFin CC-USDT	+0.0340%	4h	0.1179	+0.017%	$596K	$99K	75x	as long as short
GMX CC/USD [WBTC.b-USDC]	L +0.0449% / S −0.0241%	1h	0.1180	+0.154%	$44K	—	50x	as long as short
Lighter CC	+0.1072%	1h	0.1185	+0.560%	$245K	$160K	5x	as long as short