S

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0283%/8h= −31.0% APRnext payment −$0.35 per $10,000 · paid last 24h −0.017%

Price spread now: Extended against Backpack−0.172%7-day average −0.158% · you buy dearer than you sell

Net, funding: paid 7d − costs−$74as in the Funding arb table

Net, price: spread back to 7d avg − costs−$122as in the Price arb table

costs, in and out, $10k−$1211.211% of the position

Long on Backpack Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.475%+$47 on $10k

Price spread, last 4 days (all we have)+0.206%+$21 · spread now −0.172%, 7d avg −0.158%

Together, before fees+0.681%+ Points / potential airdropExtended: Active · farm board+$68 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.158%, so right now this pair is about funding alone: −$8 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.475%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack S_USDC_PERP	0.03940	0.0387	pay 0.0048% / 1h	51m 24s	$115K	$307K	5x
Short	Extended S-USD	0.03933	0.0104	get 0.0013% / 1h	51m 24s	$221K	$877K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Backpack. 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 BackpackbpFee ExtendedbpOrdersPrice spread, now −0.172%Rate

Funding earned: −$59.36
Price spread: −0.172% → −0.158%: −$1.4
Slippage, 4 orders: −$106.09
Fee Backpack: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$181.85
Costs to cover: 1.211%
Break-even: never at this rate

Slippage from Backpack: live order book, 27 min ago; Extended: live order book, 27 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 Backpack live order book, 27 min ago	12.77 bp	17.8 bp −$18	doesn't fit	doesn't fit	doesn't fit
Sell Extended live order book, 27 min ago	5.13 bp	37.6 bp −$38	273.0 bp −$2,730	doesn't fit	doesn't fit

S on 25 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
01 Exchange SUSD	−0.6832%	1h	0.03850	−2.284%	$23K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.2120%	1h	0.03934	−0.158%	$33K	$25K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1336%	1h	0.03826	−2.893%	$47K	$5K	25x	as long as short
Variational Omni S	−0.0974%	4h	0.03933	−0.178%	$610K	$31K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0200% / S +0.0193%	1h	0.03936	−0.096%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03932	−0.197%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03936	−0.098%	$607	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+4.061%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0033%	4h	0.03936	−0.102%	$100K	$342K	10x	as long as short
Lighter S	+0.0096%	1h	0.03940	0.000%	$165K	$217K	5x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid S	+0.0100%	1h	0.03935	−0.124%	$986K	$700K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.03936	−0.106%	$43K	$145K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.03933	−0.169%	$5.4M	$17.6M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03931	−0.228%	$5.6M	$5.3M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.03935	−0.127%	$982K	$5.2M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.03930	−0.254%	$321K	$258K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03934	−0.152%	$3.6M	$1.9M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03934	−0.152%	$1.8M	$3.0M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03937	−0.076%	$1.2M	$2.5M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03931	−0.228%	—	$6.7M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03930	−0.254%	$25K	$453K	50x	as long as short
Extended S-USDshort	+0.0104%	1h	0.03933	−0.172%	$221K	$877K	10x
Deribit S_USDC-PERPETUAL	+0.0258%	1h	0.03938	−0.051%	$66K	$10K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03932	−0.203%	$265K	$126K	75x	as long as short
Backpack S_USDC_PERPlong	+0.0387%	1h	0.03940	long leg	$115K	$307K	5x