Funding arb · Price arb /

FIL

all FIL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0348%/8h= −38.1% APRpaid last 24h −0.132%

Price spread now: Coinbase International against Bitget+0.262%7-day average +0.114% · you sell dearer than you buy

Net, funding: paid 7d − costs−$79as in the Funding arb table

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$490.486% of the position

Long on Bitget Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.300%−$30 on $10k

Price spread, last 4 days (all we have)−0.110%−$11 · spread now +0.262%, 7d avg +0.114%

Together, before fees−0.410%−$41 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 0.148% dearer against Bitget than usual: you sell high and buy low (spread +0.262% now, against its 7-day average of +0.114%): +$15 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 34 hours. At the pace of the last 7 days (−0.300% in total) that is about 3.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget FILUSDT	0.9941	0.0100	pay 0.0100% / 8h	1h 05m	$11.2M	$19.8M	75x
Short	Coinbase International FIL-PERP-INTX	0.9967	−0.0248	pay 0.0031% / 1h	5m 06s	$350K	$2.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.262%Rate

Funding earned: −$73.08
Price spread: +0.262% → +0.114%: $14.77
Slippage, 4 orders: −$26.61
Fee Bitget: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$106.92
Costs to cover: 0.486%
Break-even: never at this rate

Slippage from Bitget: live order book, 4 min ago; Coinbase International: live order book, 4 min ago.

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, 4 min ago	0.50 bp	11.7 bp −$12	23.3 bp −$233	42.4 bp −$4,236	doesn't fit
Sell Coinbase International live order book, 4 min ago	4.51 bp	13.3 bp −$13	16.9 bp −$169	doesn't fit	doesn't fit

FIL 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 FIL_USDC-PERPETUAL	−0.0754%	1h	0.9949	+0.080%	$171K	$23K	25x	as long as short
Coinbase International FIL-PERP-INTXshort	−0.0248%	1h	0.9967	+0.262%	$350K	$2.2M	50x
gTrade (Gains Network) FIL/USD	L −0.0004% / S +0.0006%	1h	0.9950	+0.091%	$26K	—	150x	as long as short
dYdX FIL-USD	0.0000%	1h	0.9953	+0.121%	$58K	$1K	10x	as long as short
Injective FIL/USDC PERP	+0.0033%	1h	0.9855	−0.865%	$2K	$240K	12x	as long as short
KuCoin FILUSDTM	+0.0070%	8h	0.9945	+0.040%	$7.1M	$8.0M	50x	as long as short
OKX FIL-USDT-SWAP	+0.0080%	8h	0.9942	+0.010%	$17.9M	$108.8M	50x	as long as short
Lighter FIL	+0.0096%	1h	0.9941	+0.002%	$148K	$356K	5x	as long as short
Hyperliquid FIL	+0.0100%	1h	0.9952	+0.111%	$8.4M	$9.4M	5x	as long as short
Aster FILUSDT	+0.0100%	8h	0.9941	+0.002%	$507K	$606K	20x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance FILUSDT	+0.0100%	8h	0.9943	+0.022%	$56.0M	$185.9M	75x	as long as short
Bybit FILUSDT	+0.0100%	8h	0.9942	+0.010%	$15.5M	$20.4M	25x	as long as short
Gate FIL_USDT	+0.0100%	8h	0.9948	+0.070%	$8.2M	$16.8M	50x	as long as short
MEXC FIL_USDC	+0.0100%	8h	0.9941	0.000%	$230K	$106K	50x	as long as short
Bitget FILUSDTlong	+0.0100%	8h	0.9941	long leg	$11.2M	$19.8M	75x
BingX FIL-USDT	+0.0100%	8h	0.9942	+0.010%	—	$11.8M	—	as long as short
Variational Omni FIL	+0.0100%	8h	0.9953	+0.118%	$448K	$278K	—	as long as short
edgeX FILUSDC	+0.0100%	4h	0.9979	+0.385%	$45K	$295K	10x	as long as short
GRVT FIL_USDT_Perp	+0.0100%	8h	0.9977	+0.367%	$291K	$1.4M	10x	as long as short
ApeX Omni FILUSDT	+0.0100%	1h	0.9980	+0.392%	$27K	$184K	50x	as long as short
Orderly PERP_FIL_USDC_mythos	+0.0100%	4h	0.9957	+0.164%	$4K	$798	10x	as long as short
SunX FIL-USDT	+0.0100%	8h	0.9950	+0.091%	$3K	$1.2M	20x	as long as short
SoDEX FIL-USD	+0.0100%	1h	0.9947	+0.060%	$479	$11K	5x	as long as short
HTX FIL-USDT	+0.0100%	8h	0.9950	+0.091%	$620K	$5.6M	75x	as long as short
Phemex FILUSDT	+0.0100%	8h	0.9930	−0.111%	$1.2M	$2.6M	50x	as long as short
Extended FIL-USD	+0.0104%	1h	0.9945	+0.044%	$700K	$1.4M	10x	as long as short
BloFin FIL-USDT	+0.0220%	8h	0.9952	+0.111%	$2.6M	$678K	75x	as long as short
Kraken Futures PF_FILUSD	+0.0245%	1h	0.9953	+0.125%	$1.4M	$2.1M	50x	as long as short
GMX FIL/USD [WBTC.b-USDC]	L +0.0602% / S −0.0280%	1h	0.9947	+0.058%	$266K	—	100x	as long as short