Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−1.0332%/8h= −1131.4% APRpaid last 24h −2.083%

Price spread now: 01 Exchange against BloFin−2.885%7-day average — · you buy dearer than you sell

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

Long on BloFin Short on 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 4 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 against this trade now: funding costs −$310 a day on $10k at the current rate, and 01 Exchange is 2.885% cheaper against BloFin than usual: you would sell low and buy high (−$288 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin S-USDT	0.04541	0.0340	pay 0.0170% / 4h	1h 48m	$334K	$215K	75x
Short	01 Exchange SUSD	0.04410	−0.9992	pay 0.1249% / 1h	48m 21s	$27K	$3K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now −2.885%Rate

Funding earned: −$2,169.72
Price spread: −2.885% → 0.000%: −$288.48
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$2,477.2
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: BloFin: live order book, 59 min ago; 01 Exchange: 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, 59 min ago	4.50 bp	21.7 bp −$22	52.9 bp −$529	doesn't fit	doesn't fit
Sell 01 Exchange no order-book sample	—	—	—	—	—

01 Exchange: 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 exchanges

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 SUSDshort	−0.9992%	1h	0.04410	−2.885%	$27K	$3K	5x
Kraken Futures PF_SUSD	−0.4625%	1h	0.04538	−0.059%	$39K	$23K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1904%	1h	0.04128	−9.095%	$50K	$18K	25x	as long as short
Variational Omni S	−0.0755%	4h	0.04545	+0.096%	$701K	$11K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0336% / S +0.0211%	1h	0.04568	+0.584%	$2K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.04551	+0.229%	$5	—	15x	as long as short
Orderly PERP_S_USDC	−0.0037%	4h	0.04546	+0.110%	$113K	$644K	10x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04573	+0.710%	$705	—	150x	as long as short
Lighter S	+0.0096%	1h	0.04546	+0.110%	$158K	$141K	5x	as long as short
Hyperliquid S	+0.0100%	1h	0.04531	−0.214%	$1.2M	$869K	5x	as long as short

Show all 25 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster SUSDT	+0.0100%	4h	0.04547	+0.138%	$48K	$154K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.04542	+0.022%	$6.7M	$20.2M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.04536	−0.110%	$6.4M	$5.4M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.04544	+0.066%	$1.3M	$6.2M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.04538	−0.066%	$382K	$227K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.04533	−0.176%	$4.5M	$3.1M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.04528	−0.286%	$2.1M	$2.9M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.04547	+0.132%	$1.4M	$2.9M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.04541	0.000%	—	$7.0M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.04560	+0.418%	$24K	$525K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.04543	+0.050%	$241K	$1.3M	10x	as long as short
Injective S/USDC PERP	+0.0140%	1h	0.04600	+1.299%	$2K	$2	12x	as long as short
BloFin S-USDTlong	+0.0340%	4h	0.04541	long leg	$334K	$215K	75x
Deribit S_USDC-PERPETUAL	+0.0409%	1h	0.04553	+0.264%	$77K	$623	10x	as long as short
Backpack S_USDC_PERP	+0.0640%	1h	0.04560	+0.418%	$108K	$461K	5x	as long as short