Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.1580%/8h= +173.0% APRpaid last 24h +0.681%

Price spread now: BloFin against Coinbase International+4.339%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 BloFin

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 +$47 a day on $10k at the current rate, and BloFin is 4.339% dearer against Coinbase International than usual: you sell high and buy low: +$434 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	−0.1240	get 0.0155% / 1h	29m 19s	$47K	$5K	25x
Short	BloFin S-USDT	0.03992	0.0340	get 0.0170% / 4h	3h 29m	$269K	$127K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +4.339%Rate

Funding earned: $331.8
Price spread: +4.339% → 0.000%: $433.87
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: $743.67
Costs to cover: 0.220%
Break-even: from the start

Slippage unknown: Coinbase International: no order-book sample; BloFin: live order book, 37 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 BloFin live order book, 37 min ago	2.54 bp	11.7 bp −$12	45.4 bp −$454	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
01 Exchange SUSD	−0.3040%	1h	0.03980	+4.025%	$25K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.2029%	1h	0.03980	+4.038%	$34K	$23K	10x	as long as short
Coinbase International S-PERP-INTXlong	−0.1240%	1h	0.03826	long leg	$47K	$5K	25x
Variational Omni S	−0.0817%	4h	0.03983	+4.114%	$619K	$31K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.03984	+4.127%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03980	+4.035%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03985	+4.162%	$614	—	150x	as long as short
Orderly PERP_S_USDC	+0.0023%	4h	0.03983	+4.104%	$101K	$331K	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	0.03986	+4.182%	$163K	$191K	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	0.03983	+4.093%	$997K	$630K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.03986	+4.173%	$44K	$141K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.03982	+4.077%	$5.4M	$15.9M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03980	+4.025%	$5.7M	$5.0M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.03981	+4.051%	$982K	$4.6M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.03984	+4.130%	$326K	$216K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03983	+4.104%	$3.7M	$1.9M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03986	+4.182%	$1.8M	$2.9M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03983	+4.104%	$1.2M	$2.4M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03982	+4.077%	—	$6.7M	—	as long as short
Backpack S_USDC_PERP	+0.0100%	1h	0.03990	+4.286%	$116K	$321K	5x	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03990	+4.286%	$26K	$446K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03980	+4.035%	$225K	$1.1M	10x	as long as short
BloFin S-USDTshort	+0.0340%	4h	0.03992	+4.339%	$269K	$127K	75x
Deribit S_USDC-PERPETUAL	+0.0503%	1h	0.03987	+4.208%	$67K	$10K	10x	as long as short