Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.1676%/8h= +183.5% APRpaid last 24h +0.643%

Price spread now: Binance against Coinbase International+2.196%7-day average — · you sell dearer than you buy

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

Long on Coinbase International Short on Binance

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

Both sides work for this trade now. Funding pays +$50 a day on $10k at the current rate, and Binance is 2.196% dearer against Coinbase International than usual: you sell high and buy low: +$220 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International S-PERP-INTX	0.03826	−0.1576	get 0.0197% / 1h	20m 44s	$47K	$5K	25x
Short	Binance SUSDT	0.03910	0.0100	get 0.0050% / 4h	1h 20m	$5.3M	$18.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Coinbase International. 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 Coinbase InternationalbpFee BinancebpOrdersPrice spread, now +2.196%Rate

Funding earned: $351.96
Price spread: +2.196% → 0.000%: $219.55
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: $551.51
Costs to cover: 0.200%
Break-even: from the start

Slippage unknown: Coinbase International: no order-book sample; Binance: live order book, 5 min ago. 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 Coinbase International no order-book sample	—	—	—	—	—
Sell Binance live order book, 5 min ago	2.56 bp	17.2 bp −$17	56.0 bp −$560	doesn't fit	doesn't fit

Coinbase International: 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
Kraken Futures PF_SUSD	−0.1599%	1h	0.03908	+2.135%	$33K	$26K	10x	as long as short
Coinbase International S-PERP-INTXlong	−0.1576%	1h	0.03826	long leg	$47K	$5K	25x
Variational Omni S	−0.0835%	4h	0.03901	+1.948%	$607K	$31K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0196% / S +0.0190%	1h	0.03909	+2.180%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03906	+2.078%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03910	+2.202%	$603	—	150x	as long as short
Orderly PERP_S_USDC	+0.0030%	4h	0.03910	+2.196%	$100K	$345K	10x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+7.162%	$2K	$37K	12x	as long as short
Lighter S	+0.0096%	1h	0.03914	+2.300%	$164K	$223K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.03909	+2.178%	$43K	$212K	10x	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	0.03911	+2.214%	$981K	$716K	5x	as long as short
Binance SUSDTshort	+0.0100%	4h	0.03910	+2.196%	$5.3M	$18.8M	75x
Bybit SUSDT	+0.0100%	4h	0.03903	+2.013%	$5.6M	$5.5M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.03908	+2.143%	$977K	$5.6M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.03903	+2.013%	$319K	$265K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03909	+2.169%	$3.5M	$2.3M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03906	+2.091%	$1.8M	$3.0M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03912	+2.248%	$1.2M	$2.6M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03907	+2.117%	—	$6.7M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03910	+2.196%	$25K	$464K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03908	+2.149%	$219K	$877K	10x	as long as short
01 Exchange SUSD	+0.0120%	1h	0.03910	+2.196%	$24K	$2K	5x	as long as short
Deribit S_USDC-PERPETUAL	+0.0261%	1h	0.03915	+2.326%	$66K	$10K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03906	+2.091%	$267K	$126K	75x	as long as short
Backpack S_USDC_PERP	+0.0474%	1h	0.03920	+2.457%	$114K	$301K	5x	as long as short