Funding you earn now, next payment 23:00 UTC+0.0195%/8h= +21.4% APRpaid last 24h +0.063%
Price spread now: Backpack against OKX+0.102%7-day average +0.115% · you sell dearer than you buy
Net, funding: paid 7d − costs−$141as in the Funding arb table
Net, price: spread back to 7d avg − costs−$109as in the Price arb table
costs, in and out, $10k−$1081.079% of the position
Funding, last 7 days−0.334%−$33 on $10k
+Price spread, last 4 days (all we have)−0.187%−$19 · spread now +0.102%, 7d avg +0.115%
=The price spread sits at its 7-day average of +0.115%, so right now this pair is about funding alone: +$6 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.334%, so the current rate has only just turned in your favour.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | OKX S-USDT-SWAP | 0.03916 | 0.0100 | pay 0.0050% / 4h | 1h 28m | $976K | $6.0M | 20x |
| Short | Backpack S_USDC_PERP | 0.03920 | 0.0295 | get 0.0037% / 1h | 28m 38s | $114K | $300K | 5x |
OKX S-USDT-SWAP
Backpack S_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against OKX. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $41.03
- Price spread: +0.102% → +0.115%
- −$1.32
- Slippage, 4 orders
- −$87.93
- Fee OKX: 5 bp × 2 orders
- −$10
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$68.21
- Costs to cover
- 1.079%
- Break-even
- 18.6 days
Slippage from OKX: live order book, 4 min ago; Backpack: live order book, 55 min ago.
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 OKX live order book, 4 min ago | 1.27 bp | 21.5 bp −$22 | doesn't fit | doesn't fit | doesn't fit |
| Sell Backpack live order book, 55 min ago | 12.71 bp | 32.3 bp −$32 | doesn't fit | doesn't fit | doesn't fit |
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 | −0.1596% | 1h | 0.03915 | −0.023% | $33K | $26K | 10x | as long as short |
| Coinbase International S-PERP-INTX | −0.1576% | 1h | 0.03826 | −2.298% | $47K | $5K | 25x | as long as short |
| Variational Omni S | −0.0847% | 4h | 0.03915 | −0.025% | $609K | $31K | — | as long as short |
| GMX S/USD [WBTC.b-USDC] | L −0.0196% / S +0.0189% | 1h | 0.03924 | +0.194% | $1K | — | 100x | as long as short |
| Reya SRUSDPERP | −0.0101% | 1h | 0.03918 | +0.039% | $4 | — | 15x | as long as short |
| gTrade (Gains Network) S/USD | L +0.0001% / S +0.0006% | 1h | 0.03923 | +0.173% | $605 | — | 150x | as long as short |
| Orderly PERP_S_USDC | +0.0028% | 4h | 0.03921 | +0.128% | $100K | $345K | 10x | as long as short |
| Injective S/USDC PERP | +0.0033% | 1h | 0.04100 | +4.699% | $2K | $37K | 12x | as long as short |
| Aster SUSDT | +0.0093% | 4h | 0.03920 | +0.109% | $43K | $212K | 10x | as long as short |
| Lighter S | +0.0096% | 1h | 0.03926 | +0.255% | $164K | $223K | 5x | as long as short |
Kraken Futures PF_SUSD
Coinbase International S-PERP-INTX
Variational Omni S
GMX S/USD [WBTC.b-USDC]
Reya SRUSDPERP
gTrade (Gains Network) S/USD
Orderly PERP_S_USDC
Injective S/USDC PERP
Aster SUSDT
Lighter SShow all 25 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid S | +0.0100% | 1h | 0.03922 | +0.156% | $984K | $757K | 5x | as long as short |
| Binance SUSDT | +0.0100% | 4h | 0.03922 | +0.145% | $5.4M | $19.5M | 75x | as long as short |
| Bybit SUSDT | +0.0100% | 4h | 0.03911 | −0.128% | $5.6M | $5.7M | 50x | as long as short |
| OKX S-USDT-SWAPlong | +0.0100% | 4h | 0.03916 | long leg | $976K | $6.0M | 20x | |
| Gate S_USDT | +0.0100% | 4h | 0.03922 | +0.153% | $320K | $265K | 50x | as long as short |
| MEXC S_USDT | +0.0100% | 4h | 0.03921 | +0.128% | $3.6M | $2.3M | 200x | as long as short |
| KuCoin SUSDTM | +0.0100% | 4h | 0.03915 | −0.026% | $1.8M | $3.0M | 50x | as long as short |
| Bitget SUSDT | +0.0100% | 4h | 0.03921 | +0.128% | $1.2M | $2.7M | 50x | as long as short |
| BingX S-USDT | +0.0100% | 4h | 0.03915 | −0.026% | — | $6.7M | — | as long as short |
| ApeX Omni SUSDT | +0.0100% | 1h | 0.03930 | +0.358% | $25K | $464K | 50x | as long as short |
| Extended S-USD | +0.0104% | 1h | 0.03920 | +0.090% | $221K | $881K | 10x | as long as short |
| 01 Exchange SUSD | +0.0128% | 1h | 0.03920 | +0.102% | $24K | $2K | 5x | as long as short |
| Deribit S_USDC-PERPETUAL | +0.0260% | 1h | 0.03926 | +0.255% | $66K | $10K | 10x | as long as short |
| Backpack S_USDC_PERPshort | +0.0295% | 1h | 0.03920 | +0.102% | $114K | $300K | 5x | |
| BloFin S-USDT | +0.0340% | 4h | 0.03919 | +0.077% | $268K | $126K | 75x | as long as short |
Hyperliquid S
Binance SUSDT
Bybit SUSDT
Gate S_USDT
MEXC S_USDT
KuCoin SUSDTM
Bitget SUSDT
BingX S-USDT
ApeX Omni SUSDT
Extended S-USD
01 Exchange SUSD
Deribit S_USDC-PERPETUAL
BloFin S-USDT