Funding arb · Price arb /

TIA

all TIA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.005%

Price spread now: Gate against Backpack−0.071%7-day average +0.001% · you buy dearer than you sell

Net, funding: paid 7d − costs−$86as in the Funding arb table

Net, price: spread back to 7d avg − costs−$86as in the Price arb table

costs, in and out, $10k−$780.784% of the position

Long on Backpack Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.075%−$7 on $10k

Price spread, last 4 days (all we have)+0.029%+$3 · spread now −0.071%, 7d avg +0.001%

Together, before fees−0.046%−$5 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Gate is 0.073% cheaper against Backpack than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of +0.001%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack TIA_USDC_PERP	0.4495	0.0100	pay 0.0013% / 1h	50m 56s	$104K	$175K	10x
Short	Gate TIA_USDT	0.4492	0.0100	get 0.0050% / 4h	3h 50m	$1.0M	$1.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Backpack. 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 BackpackbpFee GatebpOrdersPrice spread, now −0.071%Rate

Funding earned: $0
Price spread: −0.071% → +0.001%: −$7.25
Slippage, 4 orders: −$53.36
Fee Backpack: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$85.62
Costs to cover: 0.784%
Break-even: never at this rate

Slippage from Backpack: live order book, 47 min ago; Gate: live order book, 2 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 Backpack live order book, 47 min ago	1.25 bp	12.9 bp −$13	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 2 min ago	5.58 bp	23.7 bp −$24	70.1 bp −$701	doesn't fit	doesn't fit

TIA on 27 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
GMX TIA/USD [ETH-USDC]	L −0.1893% / S +0.0111%	1h	0.4491	−0.091%	$6K	—	100x	as long as short
Kraken Futures PF_TIAUSD	−0.0112%	1h	0.4492	−0.070%	$354K	$222K	50x	as long as short
Deribit TIA_USDC-PERPETUAL	0.0000%	1h	0.4495	−0.004%	$31K	$25K	25x	as long as short
gTrade (Gains Network) TIA/USD	L +0.0002% / S 0.0000%	1h	0.4491	−0.093%	$1K	—	150x	as long as short
OKX TIA-USDT-SWAP	+0.0040%	4h	0.4489	−0.138%	$2.8M	$6.9M	50x	as long as short
Injective TIA/USDC PERP	+0.0048%	1h	0.4491	−0.093%	$24K	$12K	12x	as long as short
dYdX TIA-USD	+0.0082%	1h	0.4485	−0.227%	$53K	$139	10x	as long as short
Lighter TIA	+0.0096%	1h	0.4499	+0.082%	$195K	$468K	10x	as long as short
Orderly PERP_TIA_USDC	+0.0099%	4h	0.4493	−0.049%	$7K	$226K	10x	as long as short
Hyperliquid TIA	+0.0100%	1h	0.4499	+0.076%	$4.9M	$1.5M	5x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster TIAUSDT	+0.0100%	4h	0.4492	−0.061%	$33K	$249K	10x	as long as short
Binance TIAUSDT	+0.0100%	4h	0.4494	−0.027%	$14.4M	$48.8M	75x	as long as short
Bybit TIAUSDT	+0.0100%	4h	0.4492	−0.071%	$10.3M	$14.4M	50x	as long as short
Gate TIA_USDTshort	+0.0100%	4h	0.4492	−0.071%	$1.0M	$1.9M	75x
MEXC TIA_USDT	+0.0100%	4h	0.4495	−0.004%	$12.1M	$14.3M	300x	as long as short
KuCoin TIAUSDTM	+0.0100%	4h	0.4493	−0.049%	$4.3M	$10.1M	50x	as long as short
Bitget TIAUSDT	+0.0100%	4h	0.4491	−0.093%	$4.5M	$4.1M	75x	as long as short
BingX TIA-USDT	+0.0100%	4h	0.4492	−0.071%	—	$13.6M	—	as long as short
Backpack TIA_USDC_PERPlong	+0.0100%	1h	0.4495	long leg	$104K	$175K	10x
Variational Omni TIA	+0.0100%	4h	0.4451	−0.988%	$136K	$78K	—	as long as short
ApeX Omni TIAUSDT	+0.0100%	1h	0.4475	−0.449%	$51K	$224K	50x	as long as short
HTX TIA-USDT	+0.0100%	4h	0.4491	−0.093%	$60K	$76K	50x	as long as short
Extended TIA-USD	+0.0104%	1h	0.4490	−0.119%	$57K	$211K	25x	as long as short
Aevo TIA-PERP	+0.0104%	1h	0.4495	−0.015%	$7K	—	3x	as long as short
Reya TIARUSDPERP	+0.0182%	1h	0.4488	−0.169%	$6K	—	15x	as long as short
BloFin TIA-USDT	+0.0340%	4h	0.4490	−0.116%	$1.7M	$785K	75x	as long as short
Coinbase International TIA-PERP-INTX	+0.0416%	1h	0.4497	+0.040%	$52K	$105K	50x	as long as short