Funding arb · Price arb /

ARB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0542%/8h= −59.4% APRpaid last 24h −0.130%

Price spread now: Binance against Backpack−0.105%7-day average −0.912% · you buy dearer than you sell

Net, funding: paid 7d − costs−$64as in the Funding arb table

Net, price: spread back to 7d avg − costs+$46as in the Price arb table

costs, in and out, $10k−$350.352% of the position

Long on Backpack Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.283%−$28 on $10k

Price spread, last 7 days−1.789%−$179 · spread now −0.105%, 7d avg −0.912%

Together, before fees−2.073%−$207 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Binance is 0.808% dearer against Backpack than usual: you sell high and buy low (spread −0.105% now, against its 7-day average of −0.912%): +$81 on $10k if it goes back. Holding the pair costs −$16 a day in funding at the current rate, which eats that in about 5.0 days. At the pace of the last 7 days (−0.283% in total) that is about 20 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.283% in total (about -14.8% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack ARB_USDC_PERP	0.2198	0.0552	pay 0.0069% / 1h	50m 22s	$992K	$2.8M	20x
Short	Binance ARBUSDT	0.2196	0.0010	get 0.0010% / 8h	4h 50m	$64.1M	$306.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Backpack. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 BackpackbpFee BinancebpOrdersPrice spread, now −0.105%Rate

Funding earned: −$113.85
Price spread: −0.105% → −0.912%: $80.76
Slippage, 4 orders: −$15.19
Fee Backpack: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$68.28
Costs to cover: 0.352%
Break-even: from the start

Slippage from Backpack: live order book, 4 min ago; Binance: live order book, 8 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 Backpack live order book, 4 min ago	0.45 bp	8.2 bp −$8	64.7 bp −$647	doesn't fit	doesn't fit
Sell Binance live order book, 8 min ago	0.23 bp	8.7 bp −$9	16.4 bp −$164	59.0 bp −$5,895	doesn't fit

ARB on 36 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
Injective ARB/USDC PERP	−0.1649%	1h	0.2183	−0.678%	$39K	$372K	12x	as long as short
MEXC ARB_USDT	−0.0138%	8h	0.2195	−0.141%	$40.7M	$59.5M	200x	as long as short
OKX ARB-USDT-SWAP	−0.0137%	8h	0.2195	−0.155%	$22.1M	$147.7M	50x	as long as short
01 Exchange ARBUSD	−0.0128%	1h	0.2195	−0.155%	$7K	$2K	10x	as long as short
Variational Omni ARB	−0.0117%	8h	0.2192	−0.252%	$1.8M	$2.9M	—	as long as short
Polymarket Perps ARB-USD	−0.0107%	1h	0.2195	−0.150%	$70K	$2.2M	10x	as long as short
Gate ARB_USDT	−0.0100%	8h	0.2195	−0.146%	$5.3M	$18.6M	60x	as long as short
Orderly PERP_ARB_USDC	−0.0078%	8h	0.2195	−0.132%	$13K	$388K	10x	as long as short
SoDEX ARB-USD	−0.0062%	1h	0.2194	−0.182%	$10K	$2.3M	5x	as long as short
Bybit ARBUSDT	−0.0046%	8h	0.2195	−0.141%	$55.6M	$125.9M	50x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_ARBUSD	−0.0006%	1h	0.2195	−0.136%	$1.1M	$4.4M	50x	as long as short
dYdX ARB-USD	0.0000%	1h	0.2197	−0.049%	$65K	$5K	10x	as long as short
Deribit ARB_USDC-PERPETUAL	0.0000%	1h	0.2195	−0.146%	$24K	$34K	25x	as long as short
gTrade (Gains Network) ARB/USD	L +0.0005% / S −0.0006%	1h	0.2195	−0.117%	$32K	—	150x	as long as short
Extended ARB-USD	+0.0008%	1h	0.2194	−0.173%	$349K	$2.5M	25x	as long as short
Binance ARBUSDTshort	+0.0010%	8h	0.2196	−0.105%	$64.1M	$306.6M	75x
BloFin ARB-USDT	+0.0039%	8h	0.2195	−0.150%	$3.1M	$2.6M	75x	as long as short
Bitget ARBUSDT	+0.0066%	8h	0.2194	−0.177%	$20.9M	$34.6M	50x	as long as short
BingX ARB-USDT	+0.0068%	8h	0.2195	−0.141%	—	$53.8M	—	as long as short
Aevo ARB-PERP	+0.0088%	1h	0.2195	−0.137%	$139K	$7K	3x	as long as short
Lighter ARB	+0.0096%	1h	0.2195	−0.118%	$1.2M	$5.7M	15x	as long as short
Hyperliquid ARB	+0.0100%	1h	0.2196	−0.096%	$37.9M	$48.7M	10x	as long as short
Aster ARBUSDT	+0.0100%	8h	0.2196	−0.086%	$634K	$1.6M	20x	as long as short
Pacifica ARB	+0.0100%	1h	0.2197	−0.027%	$43K	$169K	10x	as long as short
KuCoin ARBUSDTM	+0.0100%	8h	0.2195	−0.123%	$19.4M	$15.1M	75x	as long as short
edgeX ARBUSDC	+0.0100%	4h	0.2204	+0.281%	$40K	$462K	20x	as long as short
GRVT ARB_USDT_Perp	+0.0100%	8h	0.2205	+0.323%	$470K	$3.6M	10x	as long as short
ApeX Omni ARBUSDT	+0.0100%	1h	0.2204	+0.278%	$119K	$282K	50x	as long as short
SunX ARB-USDT	+0.0100%	8h	0.2196	−0.086%	$1K	$1.1M	30x	as long as short
HTX ARB-USDT	+0.0100%	8h	0.2195	−0.118%	$298K	$955K	50x	as long as short
Phemex ARBUSDT	+0.0100%	8h	0.2195	−0.132%	$4.9M	$12.9M	50x	as long as short
Coinbase International ARB-PERP-INTX	+0.0224%	1h	0.2197	−0.041%	$492K	$2.0M	50x	as long as short
RISEx ARB/USDC	+0.0225%	1h	0.2196	−0.077%	$478K	$2.6M	10x	as long as short
GMX ARB/USD [ARB-USDC]	L +0.0273% / S −0.0155%	1h	0.2196	−0.089%	$819K	—	150x	as long as short
Reya ARBRUSDPERP	+0.0289%	1h	0.2194	−0.179%	$2K	$695	20x	as long as short
Backpack ARB_USDC_PERPlong	+0.0552%	1h	0.2198	long leg	$992K	$2.8M	20x