Funding arb · Price arb /

FIL

all FIL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0874%/8h= −95.7% APRpaid last 24h −0.200%

Price spread now: Deribit against BloFin+0.070%7-day average +0.046% · you sell dearer than you buy

Net, funding: paid 7d − costs−$106as in the Funding arb table

Net, price: spread back to 7d avg − costs−$46as in the Price arb table

costs, in and out, $10k−$480.483% of the position

Long on BloFin Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.578%−$58 on $10k

Price spread, last 4 days (all we have)+0.038%+$4 · spread now +0.070%, 7d avg +0.046%

Together, before fees−0.541%−$54 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Deribit is 0.025% dearer against BloFin than usual: you sell high and buy low (spread +0.070% now, against its 7-day average of +0.046%): +$2 on $10k if it goes back. Holding the pair costs −$26 a day in funding at the current rate, which eats that in about 2 hours. At the pace of the last 7 days (−0.578% in total) that is about 7 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.578% in total (about -30.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin FIL-USDT	0.9936	0.0220	pay 0.0220% / 8h	1h 23m	$2.6M	$678K	75x
Short	Deribit FIL_USDC-PERPETUAL	0.9943	−0.0654	pay 0.0082% / 1h	23m 01s	$171K	$23K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against BloFin. 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 BloFinbpFee DeribitbpOrdersPrice spread, now +0.070%Rate

Funding earned: −$183.54
Price spread: +0.070% → +0.046%: $2.49
Slippage, 4 orders: −$29.31
Fee BloFin: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$229.36
Costs to cover: 0.483%
Break-even: never at this rate

Slippage from BloFin: live order book, 5 min ago; Deribit: live order book, 20 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 BloFin live order book, 5 min ago	1.01 bp	10.9 bp −$11	13.2 bp −$132	32.2 bp −$3,218	doesn't fit
Sell Deribit live order book, 20 min ago	5.05 bp	10.5 bp −$11	19.2 bp −$192	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-PERPETUALshort	−0.0654%	1h	0.9943	+0.070%	$171K	$23K	25x
Coinbase International FIL-PERP-INTX	−0.0248%	1h	0.9940	+0.040%	$352K	$2.2M	50x	as long as short
gTrade (Gains Network) FIL/USD	L −0.0004% / S +0.0006%	1h	0.9943	+0.068%	$26K	—	150x	as long as short
dYdX FIL-USD	0.0000%	1h	0.9941	+0.050%	$58K	$1K	10x	as long as short
Injective FIL/USDC PERP	+0.0033%	1h	0.9855	−0.815%	$2K	$240K	12x	as long as short
OKX FIL-USDT-SWAP	+0.0055%	8h	0.9945	+0.091%	$18.0M	$109.4M	50x	as long as short
KuCoin FILUSDTM	+0.0056%	8h	0.9938	+0.020%	$7.1M	$8.0M	50x	as long as short
Lighter FIL	+0.0096%	1h	0.9936	−0.001%	$148K	$355K	5x	as long as short
Hyperliquid FIL	+0.0100%	1h	0.9939	+0.028%	$8.4M	$9.4M	5x	as long as short
Aster FILUSDT	+0.0100%	8h	0.9943	+0.074%	$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	0.9941	+0.050%	$55.8M	$187.2M	75x	as long as short
Bybit FILUSDT	+0.0100%	8h	0.9939	+0.030%	$15.6M	$20.5M	25x	as long as short
Gate FIL_USDT	+0.0100%	8h	0.9937	+0.010%	$8.2M	$16.7M	50x	as long as short
MEXC FIL_USDC	+0.0100%	8h	0.9933	−0.030%	$231K	$105K	50x	as long as short
Bitget FILUSDT	+0.0100%	8h	0.9940	+0.040%	$11.3M	$20.1M	75x	as long as short
BingX FIL-USDC	+0.0100%	8h	0.9938	+0.020%	—	$6.5M	—	as long as short
Variational Omni FIL	+0.0100%	8h	0.9947	+0.108%	$442K	$273K	—	as long as short
edgeX FILUSDC	+0.0100%	4h	0.9900	−0.361%	$45K	$294K	10x	as long as short
GRVT FIL_USDT_Perp	+0.0100%	8h	0.9907	−0.291%	$288K	$1.3M	10x	as long as short
ApeX Omni FILUSDT	+0.0100%	1h	0.9900	−0.362%	$27K	$184K	50x	as long as short
Orderly PERP_FIL_USDC_mythos	+0.0100%	4h	0.9951	+0.156%	$4K	$798	10x	as long as short
SunX FIL-USDT	+0.0100%	8h	0.9930	−0.060%	$3K	$1.2M	20x	as long as short
SoDEX FIL-USD	+0.0100%	1h	0.9940	+0.040%	$483	$11K	5x	as long as short
HTX FIL-USDT	+0.0100%	8h	0.9947	+0.111%	$619K	$5.6M	75x	as long as short
Phemex FILUSDT	+0.0100%	8h	0.9940	+0.040%	$1.2M	$2.6M	50x	as long as short
Extended FIL-USD	+0.0104%	1h	0.9939	+0.026%	$696K	$1.4M	10x	as long as short
BloFin FIL-USDTlong	+0.0220%	8h	0.9936	long leg	$2.6M	$678K	75x
Kraken Futures PF_FILUSD	+0.0245%	1h	0.9948	+0.119%	$1.4M	$2.2M	50x	as long as short
GMX FIL/USD [WBTC.b-USDC]	L +0.0602% / S −0.0280%	1h	0.9941	+0.053%	$266K	—	100x	as long as short