Funding arb · Price arb /

COIN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0060%/8h= −6.5% APRpaid last 24h −0.018%

Price spread now: Arcus against Orderly+0.056%7-day average — · you sell dearer than you buy

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

Long on Orderly Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 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

The price spread pays, funding is against you. Arcus is 0.056% dearer against Orderly than usual: you sell high and buy low (spread +0.056% now, against zero (this spread has no 7-day history yet)): +$6 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 3.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_COIN_USDC_mythos	196.20	0.0100	pay 0.0100% / 8h	47m 30s	$567	$4K	10x
Short	Arcus COIN-USD	196.31	0.0040	get 0.0005% / 1h	47m 30s	$17K	$58K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Orderly. 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 OrderlybpFee ArcusbpOrdersPrice spread, now +0.056%Rate

Funding earned: −$12.54
Price spread: +0.056% → 0.000%: $5.61
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$17.44
Costs to cover: 0.105%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Arcus: no order-book sample. 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 Arcus no order-book sample	—	—	—	—	—

Orderly and Arcus: 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.

COIN 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
Bitget COINUSDT	−0.0459%	8h	196.49	+0.148%	$6.4M	$10.6M	20x	as long as short
Injective COIN/USDC PERP	−0.0440%	1h	196.06	−0.071%	$43K	$48K	30x	as long as short
Vest COIN-USD-PERP	−0.0065%	1h	195.85	−0.178%	—	$326K	25x	as long as short
Aster COINUSDT	0.0000%	8h	196.29	+0.047%	$342K	$890K	20x	as long as short
Extended COIN_24_5-USD	0.0000%	1h	196.34	+0.070%	$106K	$861K	10x	as long as short
Binance COINUSDT	0.0000%	8h	196.44	+0.122%	$15.0M	$82.2M	20x	as long as short
Bybit COINUSDT	0.0000%	8h	196.44	+0.122%	$4.7M	$6.2M	50x	as long as short
OKX COIN-USDT-SWAP	0.0000%	8h	196.37	+0.087%	$3.0M	$4.7M	20x	as long as short
Gate COIN_USDT	0.0000%	8h	196.56	+0.183%	$1.2M	$7.3M	50x	as long as short
Variational Omni COIN	0.0000%	8h	196.03	−0.088%	$713K	$975K	—	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT COIN_USDT_Perp	0.0000%	8h	196.10	−0.052%	$22K	$2.8M	10x	as long as short
Lighter COIN	+0.0032%	1h	196.23	+0.017%	$363K	$2.3M	10x	as long as short
Lighter RH COIN	+0.0032%	1h	196.22	+0.010%	$462K	$1.5M	10x	as long as short
Arcus COIN-USDshort	+0.0040%	1h	196.31	+0.056%	$17K	$58K	5x
tradeXYZ xyz:COIN	+0.0050%	1h	196.20	0.000%	$15.2M	$13.1M	10x	as long as short
Polymarket Perps COIN-USD	+0.0050%	1h	196.17	−0.015%	$130K	$1.4M	10x	as long as short
SoDEX COIN-USD	+0.0050%	1h	196.27	+0.036%	$100	$3K	10x	as long as short
Ondo Perps COIN-USD.P	+0.0050%	1h	195.69	−0.260%	$448K	$2.8M	10x	as long as short
QFEX COIN-USD	+0.0065%	1h	196.35	+0.076%	$1.3M	$2.9M	10x	as long as short
KuCoin COINUSDTM	+0.0100%	8h	196.07	−0.066%	$988K	$136K	20x	as long as short
ApeX Omni COINUSDT	+0.0100%	1h	196.07	−0.066%	$88K	$287K	50x	as long as short
Orderly PERP_COIN_USDC_mythoslong	+0.0100%	8h	196.20	long leg	$567	$4K	10x
Aevo COIN-PERP	+0.0104%	1h	196.30	+0.053%	$116	—	10x	as long as short
BloFin COIN-USDT	+0.0120%	8h	196.31	+0.056%	$188K	$437K	20x	as long as short
Phoenix COIN	+0.0163%	1h	195.75	−0.229%	$4K	$283K	10x	as long as short
edgeX COINUSDC	+0.0756%	4h	196.06	−0.070%	$50K	$295K	10x	as long as short