S

Alert

Funding spread now, next payment 17:00 UTC+0.0094%/8h

next payment, per $10,000+$0.12paid, last 24h+0.066%paid, last 3 days−0.214%to open and closeno order book

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit S_USDC-PERPETUAL	0.03912	0.0006	pay 0.0001% / 1h	28m 36s	$66K	$11K	10x
Short	Backpack S_USDC_PERP	0.03910	0.0100	get 0.0013% / 1h	28m 36s	$114K	$227K	5x

Funding history

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee DeribitbpFee BackpackbpOrdersRate

Funding earned: $19.81
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Backpack: 5 bp × 2 orders: −$10
Net: $2.81
Break-even: 6.0 days

Slippage unknown: Deribit: no order-book sample; Backpack: live order book, 16 min ago. Net counts fees only.

Price risk

price view

Price gap now: −0.051%
Avg gap 7d: —

A gap far from its average can cost days of funding.

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

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 Deribit no order-book sample	—	—	—	—	—
Sell Backpack live order book, 16 min ago	12.77 bp	18.2 bp −$18	doesn't fit	doesn't fit	doesn't fit

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.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
01 Exchange SUSD	−1.2840%	1h	$22K	$3K	5x	as long as short
Kraken Futures PF_SUSD	−0.2927%	1h	$33K	$48K	10x	as long as short
Coinbase International S-PERP-INTX	−0.2448%	1h	$48K	$11K	25x	as long as short
Variational Omni S	−0.0828%	4h	$606K	$120K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0372% / S +0.0344%	1h	$1K	—	100x	as long as short
Orderly PERP_S_USDC	−0.0123%	4h	$103K	$330K	10x	as long as short
Reya SRUSDPERP	−0.0101%	1h	$4	—	15x	as long as short
Aster SUSDT	−0.0070%	4h	$42K	$266K	10x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	$603	—	150x	as long as short
Deribit S_USDC-PERPETUALlong	+0.0006%	1h	$66K	$11K	10x

Show all 25 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Injective S/USDC PERP	+0.0033%	1h	$2K	$120K	12x	as long as short
Lighter S	+0.0096%	1h	$164K	$324K	5x	as long as short
Hyperliquid S	+0.0100%	1h	$1.0M	$1.5M	5x	as long as short
Binance SUSDT	+0.0100%	4h	$5.4M	$40.6M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	$5.6M	$9.5M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	$994K	$12.5M	20x	as long as short
Gate S_USDT	+0.0100%	4h	$325K	$374K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	$3.5M	$3.5M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	$1.8M	$3.9M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	$1.2M	$4.7M	50x	as long as short
BingX S-USDT	+0.0100%	4h	—	$7.0M	—	as long as short
Backpack S_USDC_PERPshort	+0.0100%	1h	$114K	$227K	5x
ApeX Omni SUSDT	+0.0100%	1h	$23K	$503K	50x	as long as short
Extended S-USD	+0.0104%	1h	$220K	$946K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	$282K	$265K	75x	as long as short