Funding arb · Price arb /

TIA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0062%/8h= −6.8% APRpaid last 24h +0.034%

Price spread now: OKX against Deribit−0.159%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Deribit Short on OKX

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 against this trade now: funding costs −$2 a day on $10k at the current rate, and OKX is 0.159% cheaper against Deribit than usual: you would sell low and buy high (−$16 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit TIA_USDC-PERPETUAL	0.4396	0	get 0.0000% / 1h	17m 12s	$31K	$27K	25x
Short	OKX TIA-USDT-SWAP	0.4389	−0.0062	pay 0.0031% / 4h	2h 17m	$2.8M	$6.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Deribit. 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 DeribitbpFee OKXbpOrdersPrice spread, now −0.159%Rate

Funding earned: −$12.97
Price spread: −0.159% → 0.000%: −$15.92
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee OKX: 5 bp × 2 orders: −$10
Net: −$45.89
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Deribit: no order-book sample; OKX: live order book, 6 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 Deribit no order-book sample	—	—	—	—	—
Sell OKX live order book, 6 min ago	1.13 bp	13.5 bp −$13	47.8 bp −$478	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.

TIA on 26 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
ApeX Omni TIAUSDT	−0.0070%	1h	0.4399	+0.068%	$50K	$232K	50x	as long as short
OKX TIA-USDT-SWAPshort	−0.0062%	4h	0.4389	−0.159%	$2.8M	$6.1M	50x
Kraken Futures PF_TIAUSD	−0.0003%	1h	0.4397	+0.027%	$359K	$214K	50x	as long as short
Deribit TIA_USDC-PERPETUALlong	0.0000%	1h	0.4396	long leg	$31K	$27K	25x
gTrade (Gains Network) TIA/USD	L +0.0002% / S 0.0000%	1h	0.4397	+0.018%	$1K	—	150x	as long as short
KuCoin TIAUSDTM	+0.0012%	4h	0.4392	−0.091%	$4.2M	$8.9M	50x	as long as short
Lighter TIA	+0.0096%	1h	0.4402	+0.136%	$156K	$408K	10x	as long as short
Orderly PERP_TIA_USDC	+0.0099%	4h	0.4393	−0.068%	$5K	$318K	10x	as long as short
Hyperliquid TIA	+0.0100%	1h	0.4401	+0.121%	$4.7M	$1.6M	5x	as long as short
Aster TIAUSDT	+0.0100%	4h	0.4398	+0.044%	$32K	$245K	10x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance TIAUSDT	+0.0100%	4h	0.4392	−0.087%	$14.4M	$42.6M	75x	as long as short
Bybit TIAUSDT	+0.0100%	4h	0.4389	−0.159%	$9.5M	$13.1M	50x	as long as short
Gate TIA_USDT	+0.0100%	4h	0.4395	−0.023%	$989K	$1.8M	75x	as long as short
MEXC TIA_USDT	+0.0100%	4h	0.4393	−0.068%	$12.4M	$6.8M	300x	as long as short
Bitget TIAUSDT	+0.0100%	4h	0.4395	−0.023%	$4.5M	$3.5M	75x	as long as short
BingX TIA-USDC	+0.0100%	4h	0.4390	−0.136%	—	$6.5M	—	as long as short
Backpack TIA_USDC_PERP	+0.0100%	1h	0.4394	−0.043%	$101K	$159K	10x	as long as short
Variational Omni TIA	+0.0100%	4h	0.4401	+0.107%	$103K	$84K	—	as long as short
HTX TIA-USDT	+0.0100%	4h	0.4399	+0.068%	$59K	$75K	50x	as long as short
Extended TIA-USD	+0.0104%	1h	0.4392	−0.089%	$42K	$198K	25x	as long as short
Aevo TIA-PERP	+0.0104%	1h	0.4394	−0.043%	$7K	—	3x	as long as short
Reya TIARUSDPERP	+0.0180%	1h	0.4390	−0.130%	$6K	—	15x	as long as short
dYdX TIA-USD	+0.0203%	1h	0.4400	+0.097%	$52K	$199	10x	as long as short
Injective TIA/USDC PERP	+0.0266%	1h	0.4411	+0.341%	$27K	$10K	12x	as long as short
Coinbase International TIA-PERP-INTX	+0.0304%	1h	0.4417	+0.478%	$52K	$76K	50x	as long as short
GMX TIA/USD [ETH-USDC]	L +0.0464% / S −0.3505%	1h	0.4396	−0.009%	$36K	—	100x	as long as short