Funding arb · Price arb /

FET

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.1252%/8h= +137.1% APRpaid last 24h +0.142%

Price spread now: Orderly against Coinbase International−0.383%7-day average — · you buy dearer than you sell

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

Long on Coinbase International 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 0.383% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.383% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$38 on $10k: about 24 hours of funding at the current rate (+$38 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International FET-PERP-INTX	0.2090	−0.1152	get 0.0144% / 1h	54m 44s	$148K	$271K	50x
Short	Orderly PERP_FET_USDC	0.2082	0.0100	get 0.0100% / 8h	5h 54m	$37K	$13K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Coinbase International. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Coinbase InternationalbpFee OrderlybpOrdersPrice spread, now −0.383%Rate

Funding earned: $262.92
Price spread: −0.383% → 0.000%: −$38.28
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: $208.64
Costs to cover: 0.160%
Break-even: 1.4 days

Slippage unknown: Coinbase International: live order book, 56 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 Coinbase International live order book, 56 min ago	4.78 bp	55.9 bp −$56	doesn't fit	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.

FET on 20 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
Deribit FET_USDC-PERPETUAL	−0.5952%	1h	0.2083	−0.335%	$33K	$324K	10x	as long as short
Coinbase International FET-PERP-INTXlong	−0.1152%	1h	0.2090	long leg	$148K	$271K	50x
Kraken Futures PF_FETUSD	−0.1150%	1h	0.2086	−0.179%	$1.1M	$2.0M	50x	as long as short
gTrade (Gains Network) FET/USD	L +0.0006% / S −0.0003%	1h	0.2094	+0.193%	$10K	—	150x	as long as short
Injective FET/USDC PERP	+0.0033%	1h	0.2100	+0.478%	$2K	$166K	12x	as long as short
Aster FETUSDT	+0.0100%	8h	0.2082	−0.383%	$162K	$746K	10x	as long as short
Binance FETUSDT	+0.0100%	8h	0.2082	−0.395%	$32.2M	$110.9M	75x	as long as short
OKX FET-USDT-SWAP	+0.0100%	4h	0.2082	−0.383%	$1.1M	$7.7M	20x	as long as short
Gate FET_USDT	+0.0100%	8h	0.2079	−0.526%	$2.9M	$12.4M	50x	as long as short
MEXC FET_USDT	+0.0100%	8h	0.2080	−0.478%	$29.9M	$25.3M	200x	as long as short

Show all 20 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin FETUSDTM	+0.0100%	8h	0.2081	−0.431%	$11.1M	$17.2M	50x	as long as short
Bitget FETUSDT	+0.0100%	8h	0.2081	−0.431%	$16.6M	$12.2M	75x	as long as short
BingX FET-USDT	+0.0100%	8h	0.2081	−0.431%	—	$5.8M	—	as long as short
Variational Omni FET	+0.0100%	8h	0.2086	−0.193%	$314K	$562K	—	as long as short
Orderly PERP_FET_USDCshort	+0.0100%	8h	0.2082	−0.383%	$37K	$13K	10x
Extended FET-USD	+0.0104%	1h	0.2081	−0.436%	$38K	$213K	10x	as long as short
GMX FET/USD [ETH-USDC]	L +0.0203% / S −0.0302%	1h	0.2083	−0.322%	$14K	—	100x	as long as short
BloFin FET-USDT	+0.0220%	8h	0.2087	−0.144%	$1.8M	$3.3M	100x	as long as short
Hyperliquid FET	+0.0385%	1h	0.2084	−0.311%	$9.3M	$7.6M	5x	as long as short
Phoenix FET	+0.0453%	1h	0.2100	+0.488%	$36K	$36K	5x	as long as short