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: Backpack against Gate−0.033%7-day average −0.002% · you buy dearer than you sell

Net, funding: paid 7d − costs−$93as in the Funding arb table

Net, price: spread back to 7d avg − costs−$103as in the Price arb table

costs, in and out, $10k−$1001.003% of the position

Long on Gate Short on Backpack

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)+0.116%+$12 · spread now −0.033%, 7d avg −0.002%

Together, before fees+0.191%+$19 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: Backpack is 0.031% cheaper against Gate than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.002%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate TIA_USDT	0.4501	0.0100	pay 0.0050% / 4h	3h 03m	$1.0M	$1.9M	75x
Short	Backpack TIA_USDC_PERP	0.4500	0.0100	get 0.0013% / 1h	3m 50s	$104K	$171K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Gate. 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 GatebpFee BackpackbpOrdersPrice spread, now −0.033%Rate

Funding earned: $0
Price spread: −0.033% → −0.002%: −$3.11
Slippage, 4 orders: −$75.34
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$103.45
Costs to cover: 1.003%
Break-even: never at this rate

Slippage from Gate: live order book, 4 min ago; Backpack: live order book, 29 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 Gate live order book, 4 min ago	5.56 bp	43.6 bp −$44	87.9 bp −$879	doesn't fit	doesn't fit
Sell Backpack live order book, 29 min ago	1.79 bp	12.5 bp −$13	doesn't fit	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 −0.3790% / S +0.0174%	1h	0.4505	+0.095%	$6K	—	100x	as long as short
Kraken Futures PF_TIAUSD	−0.0112%	1h	0.4501	−0.001%	$355K	$198K	50x	as long as short
Deribit TIA_USDC-PERPETUAL	0.0000%	1h	0.4505	+0.089%	$31K	$21K	25x	as long as short
gTrade (Gains Network) TIA/USD	L +0.0002% / S 0.0000%	1h	0.4501	−0.003%	$1K	—	150x	as long as short
Injective TIA/USDC PERP	+0.0048%	1h	0.4518	+0.378%	$81K	$157K	12x	as long as short
OKX TIA-USDT-SWAP	+0.0074%	4h	0.4495	−0.133%	$2.8M	$7.0M	50x	as long as short
ApeX Omni TIAUSDT	+0.0081%	1h	0.4499	−0.044%	$52K	$224K	50x	as long as short
Lighter TIA	+0.0096%	1h	0.4510	+0.209%	$195K	$469K	10x	as long as short
Orderly PERP_TIA_USDC	+0.0098%	4h	0.4504	+0.067%	$7K	$208K	10x	as long as short
Hyperliquid TIA	+0.0100%	1h	0.4504	+0.073%	$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	0.4501	−0.005%	$33K	$249K	10x	as long as short
Binance TIAUSDT	+0.0100%	4h	0.4497	−0.099%	$14.6M	$49.4M	75x	as long as short
Bybit TIAUSDT	+0.0100%	4h	0.4495	−0.133%	$10.2M	$14.5M	50x	as long as short
Gate TIA_USDTlong	+0.0100%	4h	0.4501	long leg	$1.0M	$1.9M	75x
MEXC TIA_USDT	+0.0100%	4h	0.4498	−0.067%	$11.1M	$14.7M	300x	as long as short
KuCoin TIAUSDTM	+0.0100%	4h	0.4497	−0.089%	$4.3M	$10.2M	50x	as long as short
Bitget TIAUSDT	+0.0100%	4h	0.4501	0.000%	$4.5M	$4.1M	75x	as long as short
BingX TIA-USDT	+0.0100%	4h	0.4497	−0.089%	—	$14.0M	—	as long as short
Backpack TIA_USDC_PERPshort	+0.0100%	1h	0.4500	−0.033%	$104K	$171K	10x
Variational Omni TIA	+0.0100%	4h	0.4494	−0.161%	$138K	$78K	—	as long as short
HTX TIA-USDT	+0.0100%	4h	0.4500	−0.022%	$60K	$75K	50x	as long as short
Extended TIA-USD	+0.0104%	1h	0.4494	−0.159%	$57K	$211K	25x	as long as short
Aevo TIA-PERP	+0.0104%	1h	0.4501	+0.011%	$7K	—	3x	as long as short
dYdX TIA-USD	+0.0148%	1h	0.4505	+0.089%	$54K	$139	10x	as long as short
Reya TIARUSDPERP	+0.0182%	1h	0.4500	−0.021%	$6K	—	15x	as long as short
BloFin TIA-USDT	+0.0340%	4h	0.4496	−0.111%	$1.7M	$770K	75x	as long as short
Coinbase International TIA-PERP-INTX	+0.0416%	1h	0.4521	+0.444%	$54K	$104K	50x	as long as short