S

Alert

Funding spread now, next payment 20:00 UTC+0.0939%/8h

paid, last 24h+0.099%paid, last 7 days+0.195%to open and closeno order book

The current rate is far above what this pair has been paying: over the last 7 days it paid 0.195% in total (about 10.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_S_USDC	0.03891	−0.0092	get 0.0046% / 4h	58m 48s	$103K	$320K	10x
Short	Backpack S_USDC_PERP	0.03900	0.0847	get 0.0106% / 1h	58m 48s	$116K	$255K	5x

Funding history

latest

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Funding on every exchange

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latest

Profit calculator

Position, each leg$Hold fordaysFee OrderlybpFee BackpackbpOrdersRate

Funding earned: $197.15
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Backpack: 5 bp × 2 orders: −$10
Net: $181.15
Break-even: 0.6 days

Slippage unknown: Orderly: no order-book sample; Backpack: live order book, 36 min ago. Net counts fees only.

Price risk

price view

Price gap now: +0.231%
Avg gap 7d: +0.083%

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 Orderly no order-book sample	—	—	—	—	—
Sell Backpack live order book, 36 min ago	12.97 bp	18.6 bp −$19	doesn't fit	doesn't fit	doesn't fit

Orderly: 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
Kraken Futures PF_SUSD	−0.2138%	1h	$33K	$41K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1488%	1h	$47K	$9K	25x	as long as short
Variational Omni S	−0.1467%	4h	$605K	$117K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0387% / S +0.0191%	1h	$2K	—	100x	as long as short
Aster SUSDT	−0.0229%	4h	$42K	$258K	10x	as long as short
OKX S-USDT-SWAP	−0.0106%	4h	$971K	$11.8M	20x	as long as short
Reya SRUSDPERP	−0.0101%	1h	$4	—	15x	as long as short
Orderly PERP_S_USDClong	−0.0092%	4h	$103K	$320K	10x
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	$600	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	$2K	$37K	12x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
01 Exchange SUSD	+0.0064%	1h	$24K	$3K	5x	as long as short
Lighter S	+0.0096%	1h	$163K	$278K	5x	as long as short
Hyperliquid S	+0.0100%	1h	$992K	$1.3M	5x	as long as short
Binance SUSDT	+0.0100%	4h	$5.3M	$37.4M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	$5.5M	$8.9M	50x	as long as short
Gate S_USDT	+0.0100%	4h	$318K	$344K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	$3.5M	$3.3M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	$1.8M	$3.7M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	$1.2M	$4.5M	50x	as long as short
BingX S-USDT	+0.0100%	4h	—	$7.0M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	$25K	$494K	50x	as long as short
Extended S-USD	+0.0104%	1h	$219K	$941K	10x	as long as short
Deribit S_USDC-PERPETUAL	+0.0264%	1h	$65K	$10K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	$274K	$261K	75x	as long as short
Backpack S_USDC_PERPshort	+0.0847%	1h	$116K	$255K	5x