Funding arb · Price arb /

S

all S markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0154%/8h= +16.9% APRpaid last 24h −0.080%

Price spread now: Deribit against BloFin+0.025%57s7-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 Deribit

What this pair did over the last

the charts below follow

Funding, last 3 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

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Deribit is 0.025% dearer against BloFin than usual: you sell high and buy low: +$2 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin S-USDT	0.04034	0.0340	pay 0.0170% / 4h	1h 01m	$280K	$115K	75x
Short	Deribit S_USDC-PERPETUAL	0.04035	0.0494	get 0.0062% / 1h	1m 19s	$68K	$10K	10x

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 +0.025%Rate

Funding earned: $32.35
Price spread: +0.025% → 0.000%: $2.48
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $15.83
Costs to cover: 0.190%
Break-even: 3.6 days

Slippage unknown: BloFin: live order book, 18 min ago; Deribit: 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, 18 min ago	3.71 bp	20.4 bp −$20	64.4 bp −$644	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: 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.

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	−0.7560%	1h	0.03950	−2.082%	$24K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.2393%	1h	0.04029	−0.116%	$35K	$16K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1120%	1h	0.03961	−1.810%	$48K	$16K	25x	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.04032	−0.042%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.04025	−0.233%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04032	−0.052%	$621	—	150x	as long as short
Variational Omni S	+0.0010%	4h	0.04022	−0.290%	$625K	$22K	—	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+1.636%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0085%	4h	0.04027	−0.174%	$100K	$588K	10x	as long as short
Lighter S	+0.0096%	1h	0.04032	−0.050%	$172K	$139K	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	0.04027	−0.171%	$1.0M	$579K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04028	−0.149%	$47K	$110K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.04025	−0.211%	$5.7M	$13.6M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.04021	−0.322%	$5.7M	$4.1M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.04024	−0.248%	$1.0M	$3.7M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.04024	−0.248%	$327K	$179K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.04026	−0.198%	$4.1M	$1.8M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.04022	−0.297%	$1.8M	$2.8M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.04029	−0.124%	$1.2M	$2.2M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.04026	−0.198%	—	$6.8M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.04030	−0.099%	$23K	$487K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.04026	−0.195%	$230K	$611K	10x	as long as short
BloFin S-USDTlong	+0.0340%	4h	0.04034	long leg	$280K	$115K	75x
Deribit S_USDC-PERPETUALshort	+0.0494%	1h	0.04035	+0.025%	$68K	$10K	10x
Backpack S_USDC_PERP	+0.1756%	1h	0.04040	+0.149%	$117K	$426K	5x	as long as short