Funding arb · Price arb /

DOT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.2636%/8h= +288.6% APRpaid last 24h +0.166%

Price spread now: Orderly against Deribit−0.034%7-day average — · you buy dearer than you sell

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

Long on Deribit Short on Orderly

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. Orderly is 0.034% cheaper against Deribit than usual: you would sell low and buy high (spread −0.034% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 1 hour of funding at the current rate (+$79 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit DOT_USDC-PERPETUAL	1.1814	−0.2536	get 0.0317% / 1h	41m 43s	$226K	$114K	50x
Short	Orderly PERP_DOT_USDC	1.1810	0.0100	get 0.0100% / 8h	4h 41m	$8K	$24K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Deribit. 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 DeribitbpFee OrderlybpOrdersPrice spread, now −0.034%Rate

Funding earned: $553.56
Price spread: −0.034% → 0.000%: −$3.39
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Orderly: 3 bp × 2 orders: −$6
Net: $537.17
Costs to cover: 0.130%
Break-even: 0.2 days

Slippage unknown: Deribit: live order book, 17 min ago; Orderly: 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 Deribit live order book, 17 min ago	8.85 bp	12.4 bp −$12	21.9 bp −$219	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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.

DOT on 29 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
Deribit DOT_USDC-PERPETUALlong	−0.2536%	1h	1.1814	long leg	$226K	$114K	50x
Coinbase International DOT-PERP-INTX	−0.0608%	1h	1.1850	+0.305%	$195K	$1.9M	50x	as long as short
Reya DOTRUSDPERP	−0.0166%	1h	1.1799	−0.125%	$255	—	—	as long as short
dYdX DOT-USD	0.0000%	1h	1.1814	−0.002%	$142K	$6K	10x	as long as short
gTrade (Gains Network) DOT/USD	L 0.0000% / S +0.0004%	1h	1.1807	−0.060%	$3K	—	150x	as long as short
Injective DOT/USDC PERP	+0.0033%	1h	1.2020	+1.744%	$328	$121K	12x	as long as short
Lighter DOT	+0.0096%	1h	1.1824	+0.083%	$267K	$632K	10x	as long as short
OKX DOT-USDT-SWAP	+0.0096%	8h	1.1821	+0.059%	$9.4M	$24.2M	50x	as long as short
Hyperliquid DOT	+0.0100%	1h	1.1815	+0.008%	$5.3M	$3.5M	10x	as long as short
Aster DOTUSDT	+0.0100%	8h	1.1809	−0.040%	$852K	$581K	50x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance DOTUSDT	+0.0100%	8h	1.1819	+0.042%	$43.4M	$85.2M	75x	as long as short
Bybit DOTUSDT	+0.0100%	8h	1.1819	+0.042%	$24.3M	$19.0M	75x	as long as short
Gate DOT_USDT	+0.0100%	8h	1.1810	−0.034%	$6.6M	$11.8M	75x	as long as short
MEXC DOT_USDT	+0.0100%	8h	1.1818	+0.034%	$36.6M	$51.5M	300x	as long as short
KuCoin DOTUSDTM	+0.0100%	8h	1.1817	+0.025%	$6.4M	$9.2M	75x	as long as short
Bitget DOTUSDT	+0.0100%	8h	1.1805	−0.076%	$22.5M	$14.8M	75x	as long as short
BingX DOT-USDT	+0.0100%	8h	1.1808	−0.051%	—	$29.7M	—	as long as short
Backpack DOT_USDC_PERP	+0.0100%	1h	1.1804	−0.085%	$92K	$130K	10x	as long as short
Variational Omni DOT	+0.0100%	8h	1.1816	+0.020%	$537K	$58K	—	as long as short
edgeX DOTUSDC	+0.0100%	4h	1.1811	−0.023%	$35K	$336K	20x	as long as short
GRVT DOT_USDT_Perp	+0.0100%	8h	1.1810	−0.033%	$235K	$420K	10x	as long as short
Orderly PERP_DOT_USDCshort	+0.0100%	8h	1.1810	−0.034%	$8K	$24K	10x
SunX DOT-USDT	+0.0100%	8h	1.1824	+0.085%	$2K	$1.3M	20x	as long as short
HTX DOT-USDT	+0.0100%	8h	1.1826	+0.102%	$257K	$242K	75x	as long as short
Extended DOT-USD	+0.0104%	1h	1.1804	−0.081%	$17K	$308K	25x	as long as short
Phemex DOTUSDT	+0.0186%	8h	1.1820	+0.051%	$2.3M	$2.2M	50x	as long as short
Kraken Futures PF_DOTUSD	+0.0215%	1h	1.1811	−0.026%	$4.4M	$1.5M	50x	as long as short
BloFin DOT-USDT	+0.0220%	8h	1.1816	+0.017%	$2.2M	$879K	75x	as long as short
GMX DOT/USD [WBTC.b-USDC]	L +0.0301% / S −0.1012%	1h	1.1805	−0.073%	$22K	—	100x	as long as short