Funding arb · Price arb /

FIL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0120%/8h= −13.1% APRpaid last 24h −0.003%

Price spread now: Orderly against BloFin+0.193%7-day average — · you sell dearer than you buy

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

Long on BloFin 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

The price spread pays, funding is against you. Orderly is 0.193% dearer against BloFin than usual: you sell high and buy low (spread +0.193% now, against zero (this spread has no 7-day history yet)): +$19 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 5.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin FIL-USDT	0.9773	0.0220	pay 0.0220% / 8h	3h 31m	$2.6M	$594K	75x
Short	Orderly PERP_FIL_USDC_mythos	0.9792	0.0100	get 0.0050% / 4h	3h 31m	$5K	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.193%Rate

Funding earned: −$25.2
Price spread: +0.193% → 0.000%: $19.34
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$23.86
Costs to cover: 0.180%
Break-even: from the start

Slippage unknown: BloFin: live order book, 3 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 BloFin live order book, 3 min ago	1.54 bp	7.5 bp −$8	11.3 bp −$113	26.2 bp −$2,622	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.

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	−0.0465%	1h	0.9791	+0.184%	$168K	$22K	25x	as long as short
Coinbase International FIL-PERP-INTX	−0.0352%	1h	0.9785	+0.123%	$325K	$1.9M	50x	as long as short
Injective FIL/USDC PERP	−0.0196%	1h	0.9658	−1.177%	$2K	$118K	12x	as long as short
Bybit FILUSDT	−0.0160%	8h	0.9785	+0.123%	$15.9M	$17.0M	25x	as long as short
Variational Omni FIL	−0.0114%	8h	0.9744	−0.300%	$428K	$271K	—	as long as short
Lighter FIL	−0.0064%	1h	0.9778	+0.047%	$156K	$359K	5x	as long as short
gTrade (Gains Network) FIL/USD	L −0.0004% / S +0.0006%	1h	0.9784	+0.108%	$24K	—	150x	as long as short
dYdX FIL-USD	0.0000%	1h	0.9772	−0.008%	$57K	$2K	10x	as long as short
Bitget FILUSDT	+0.0005%	8h	0.9781	+0.082%	$10.8M	$22.7M	75x	as long as short
OKX FIL-USDT-SWAP	+0.0041%	8h	0.9787	+0.143%	$18.0M	$98.9M	50x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin FILUSDTM	+0.0069%	8h	0.9783	+0.102%	$7.3M	$7.3M	50x	as long as short
Hyperliquid FIL	+0.0100%	1h	0.9786	+0.128%	$8.6M	$9.5M	5x	as long as short
Aster FILUSDT	+0.0100%	8h	0.9780	+0.075%	$484K	$545K	20x	as long as short
Binance FILUSDT	+0.0100%	8h	0.9785	+0.126%	$56.0M	$179.0M	75x	as long as short
Gate FIL_USDT	+0.0100%	8h	0.9788	+0.153%	$7.8M	$16.9M	50x	as long as short
MEXC FIL_USDC	+0.0100%	8h	0.9780	+0.072%	$250K	$104K	50x	as long as short
BingX FIL-USDC	+0.0100%	8h	0.9790	+0.174%	—	$6.5M	—	as long as short
edgeX FILUSDC	+0.0100%	4h	0.9754	−0.191%	$45K	$294K	10x	as long as short
GRVT FIL_USDT_Perp	+0.0100%	8h	0.9754	−0.198%	$283K	$772K	10x	as long as short
ApeX Omni FILUSDT	+0.0100%	1h	0.9750	−0.235%	$42K	$197K	50x	as long as short
Orderly PERP_FIL_USDC_mythosshort	+0.0100%	4h	0.9792	+0.193%	$5K	—	10x
SunX FIL-USDT	+0.0100%	8h	0.9780	+0.072%	$3K	$1.1M	20x	as long as short
SoDEX FIL-USD	+0.0100%	1h	0.9784	+0.113%	$467	$11K	5x	as long as short
HTX FIL-USDT	+0.0100%	8h	0.9788	+0.153%	$622K	$5.7M	75x	as long as short
Phemex FILUSDT	+0.0100%	8h	0.9790	+0.174%	$1.1M	$2.2M	50x	as long as short
Extended FIL-USD	+0.0104%	1h	0.9777	+0.046%	$682K	$2.4M	10x	as long as short
Kraken Futures PF_FILUSD	+0.0135%	1h	0.9790	+0.171%	$1.4M	$2.3M	50x	as long as short
BloFin FIL-USDTlong	+0.0220%	8h	0.9773	long leg	$2.6M	$594K	75x
GMX FIL/USD [WBTC.b-USDC]	L +0.0604% / S −0.0671%	1h	0.9783	+0.101%	$171K	—	100x	as long as short