Funding you earn now, next payment 00:00 UTC−0.1130%/8h= −123.7% APRpaid last 24h +0.063%
Price spread now: Bitget against Backpack−0.110%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
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 −$34 a day on $10k at the current rate, and Bitget is 0.110% cheaper against Backpack than usual: you would sell low and buy high (−$11 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 | Backpack W_USDC_PERP | 0.01184 | 0.1230 | pay 0.0154% / 1h | 55m 05s | $44K | $47K | 15x |
| Short | Bitget WUSDT | 0.01183 | 0.0100 | get 0.0050% / 4h | 55m 05s | $1.3M | $573K | 50x |
Backpack W_USDC_PERP
Bitget WUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bitget against Backpack. 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
- −$237.25
- Price spread: −0.110% → 0.000%
- −$10.98
- Slippage, 4 orders
- no order book: not counted
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Bitget: 6 bp × 2 orders
- −$12
- Net
- −$270.23
- Costs to cover
- 0.220%
- Break-even
- never at this rate
Slippage unknown: Backpack: no order-book sample; Bitget: live order book, 1 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 Backpack no order-book sample | — | — | — | — | — |
| Sell Bitget live order book, 1 min ago | 8.45 bp | 20.4 bp −$20 | 66.7 bp −$667 | doesn't fit | doesn't fit |
Backpack: 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.
W on 17 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 | |
|---|---|---|---|---|---|---|---|---|
| OKX W-USDT-SWAP | −0.0056% | 4h | 0.01182 | −0.160% | $1.3M | $2.0M | 20x | as long as short |
| Deribit W_USDC-PERPETUAL | −0.0003% | 1h | 0.01184 | −0.025% | $17K | $1K | 10x | as long as short |
| Injective W/USDC PERP | +0.0033% | 1h | 0.01209 | +2.086% | $1K | $1K | 12x | as long as short |
| Hyperliquid W | +0.0100% | 1h | 0.01183 | −0.110% | $2.0M | $425K | 5x | as long as short |
| Binance WUSDT | +0.0100% | 4h | 0.01183 | −0.124% | $3.0M | $6.9M | 50x | as long as short |
| Bybit WUSDT | +0.0100% | 4h | 0.01182 | −0.186% | $4.1M | $1.9M | 50x | as long as short |
| Gate W_USDT | +0.0100% | 4h | 0.01180 | −0.363% | $445K | $290K | 75x | as long as short |
| MEXC W_USDT | +0.0100% | 4h | 0.01183 | −0.110% | $12.9M | $1.4M | 50x | as long as short |
| KuCoin WUSDTM | +0.0100% | 4h | 0.01184 | −0.025% | $458K | $218K | 50x | as long as short |
| Bitget WUSDTshort | +0.0100% | 4h | 0.01183 | −0.110% | $1.3M | $573K | 50x |
OKX W-USDT-SWAP
Deribit W_USDC-PERPETUAL
Injective W/USDC PERP
Hyperliquid W
Binance WUSDT
Bybit WUSDT
Gate W_USDT
MEXC W_USDT
KuCoin WUSDTMShow all 17 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX W-USDT | +0.0100% | 4h | 0.01182 | −0.228% | — | $6.9M | — | as long as short |
| Variational Omni W | +0.0100% | 4h | 0.01179 | −0.431% | $71K | $42K | — | as long as short |
| GRVT W_USDT_Perp | +0.0100% | 4h | 0.01180 | −0.330% | $130K | $385K | 10x | as long as short |
| Extended W-USD | +0.0104% | 1h | 0.01184 | −0.009% | $59K | $228K | 5x | as long as short |
| Coinbase International W-PERP-INTX | +0.0248% | 1h | 0.01184 | −0.042% | $14K | $17K | 50x | as long as short |
| Kraken Futures PF_WUSD | +0.0717% | 1h | 0.01185 | +0.093% | $147K | $181K | 20x | as long as short |
| Backpack W_USDC_PERPlong | +0.1230% | 1h | 0.01184 | long leg | $44K | $47K | 15x |
BingX W-USDT
Variational Omni W
GRVT W_USDT_Perp
Extended W-USD
Coinbase International W-PERP-INTX
Kraken Futures PF_WUSD