Funding you earn now, next payment 11:00 UTC+0.0003%/8h= +0.3% APRpaid last 24h −0.015%
Price spread now: Backpack against Orderly+0.083%46s7-day average −0.009% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.035%−$3 on $10k
+Price spread, last 4 days (all we have)−0.226%−$23 · spread now +0.083%, 7d avg −0.009%
=Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Backpack is 0.093% dearer against Orderly than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of −0.009%. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Orderly PERP_TIA_USDC | 0.4312 | 0.0097 | pay 0.0049% / 4h | 1h 27m | $6K | $177K | 10x |
| Short | Backpack TIA_USDC_PERP | 0.4316 | 0.0100 | get 0.0013% / 1h | 27m 24s | $100K | $181K | 10x |
Orderly PERP_TIA_USDC
Backpack TIA_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Orderly. 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
- $0.55
- Price spread: +0.083% → −0.009%
- $9.26
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$6.2
- Costs to cover
- 0.160%
- Break-even
- 86.5 days
Slippage unknown: Orderly: no order-book sample; Backpack: live order book, 19 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 Orderly no order-book sample | — | — | — | — | — |
| Sell Backpack live order book, 19 min ago | 1.03 bp | 11.1 bp −$11 | 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.
TIA on 27 exchanges
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 −0.6754% / S +0.0274% | 1h | 0.4317 | +0.124% | $5K | — | 100x | as long as short |
| Injective TIA/USDC PERP | −0.0275% | 1h | 0.4374 | +1.438% | $83K | $165K | 12x | as long as short |
| Deribit TIA_USDC-PERPETUAL | −0.0213% | 1h | 0.4318 | +0.139% | $32K | $20K | 25x | as long as short |
| Bybit TIAUSDT | −0.0083% | 4h | 0.4312 | 0.000% | $9.6M | $14.9M | 50x | as long as short |
| gTrade (Gains Network) TIA/USD | L +0.0002% / S 0.0000% | 1h | 0.4320 | +0.178% | $1K | — | 150x | as long as short |
| dYdX TIA-USD | +0.0066% | 1h | 0.4316 | +0.092% | $51K | $139 | 10x | as long as short |
| Kraken Futures PF_TIAUSD | +0.0084% | 1h | 0.4316 | +0.091% | $349K | $253K | 50x | as long as short |
| Variational Omni TIA | +0.0090% | 4h | 0.4310 | −0.035% | $100K | $100K | — | as long as short |
| Lighter TIA | +0.0096% | 1h | 0.4317 | +0.107% | $151K | $472K | 10x | as long as short |
| Orderly PERP_TIA_USDClong | +0.0097% | 4h | 0.4312 | long leg | $6K | $177K | 10x |
GMX TIA/USD [ETH-USDC]
Injective TIA/USDC PERP
Deribit TIA_USDC-PERPETUAL
Bybit TIAUSDT
gTrade (Gains Network) TIA/USD
dYdX TIA-USD
Kraken Futures PF_TIAUSD
Variational Omni TIA
Lighter TIAShow all 27 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid TIA | +0.0100% | 1h | 0.4320 | +0.197% | $4.5M | $1.7M | 5x | as long as short |
| Aster TIAUSDT | +0.0100% | 4h | 0.4316 | +0.093% | $31K | $238K | 10x | as long as short |
| Binance TIAUSDT | +0.0100% | 4h | 0.4313 | +0.018% | $13.9M | $49.2M | 75x | as long as short |
| OKX TIA-USDT-SWAP | +0.0100% | 4h | 0.4312 | 0.000% | $2.7M | $6.7M | 50x | as long as short |
| Gate TIA_USDT | +0.0100% | 4h | 0.4313 | +0.023% | $978K | $1.7M | 75x | as long as short |
| MEXC TIA_USDT | +0.0100% | 4h | 0.4314 | +0.046% | $10.0M | $14.7M | 300x | as long as short |
| KuCoin TIAUSDTM | +0.0100% | 4h | 0.4313 | +0.023% | $4.1M | $10.5M | 50x | as long as short |
| Bitget TIAUSDT | +0.0100% | 4h | 0.4310 | −0.046% | $4.3M | $4.4M | 75x | as long as short |
| BingX TIA-USDT | +0.0100% | 4h | 0.4312 | 0.000% | — | $14.7M | — | as long as short |
| Backpack TIA_USDC_PERPshort | +0.0100% | 1h | 0.4316 | +0.083% | $100K | $181K | 10x | |
| ApeX Omni TIAUSDT | +0.0100% | 1h | 0.4315 | +0.070% | $50K | $221K | 50x | as long as short |
| HTX TIA-USDT | +0.0100% | 4h | 0.4318 | +0.139% | $58K | $79K | 50x | as long as short |
| Extended TIA-USD | +0.0104% | 1h | 0.4311 | −0.028% | $55K | $209K | 25x | as long as short |
| Aevo TIA-PERP | +0.0104% | 1h | 0.4311 | −0.013% | $7K | — | 3x | as long as short |
| Reya TIARUSDPERP | +0.0183% | 1h | 0.4311 | −0.022% | $6K | — | 15x | as long as short |
| BloFin TIA-USDT | +0.0340% | 4h | 0.4311 | −0.023% | $1.5M | $792K | 75x | as long as short |
| Coinbase International TIA-PERP-INTX | +0.0400% | 1h | 0.4407 | +2.203% | $53K | $109K | 50x | as long as short |
Hyperliquid TIA
Aster TIAUSDT
Binance TIAUSDT
OKX TIA-USDT-SWAP
Gate TIA_USDT
MEXC TIA_USDT
KuCoin TIAUSDTM
Bitget TIAUSDT
BingX TIA-USDT
ApeX Omni TIAUSDT
HTX TIA-USDT
Extended TIA-USD
Aevo TIA-PERP
Reya TIARUSDPERP
BloFin TIA-USDT
Coinbase International TIA-PERP-INTX