Funding arb · Price arb /

ARB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0108%/8h= −11.9% APRpaid last 24h −0.125%

Price spread now: BloFin against Backpack−0.132%7-day average −0.080% · you buy dearer than you sell

Net, funding: paid 7d − costs−$48as in the Funding arb table

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$350.345% of the position

Long on Backpack Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.132%−$13 on $10k

Price spread, last 4 days (all we have)+2.352%+$235 · spread now −0.132%, 7d avg −0.080%

Together, before fees+2.219%+$222 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and BloFin is 0.052% cheaper against Backpack than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.080%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack ARB_USDC_PERP	0.2192	0.0119	pay 0.0015% / 1h	50m 30s	$980K	$2.8M	20x
Short	BloFin ARB-USDT	0.2189	0.0011	get 0.0011% / 8h	7h 50m	$3.0M	$2.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Backpack. 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 BackpackbpFee BloFinbpOrdersPrice spread, now −0.132%Rate

Funding earned: −$22.77
Price spread: −0.132% → −0.080%: −$5.23
Slippage, 4 orders: −$12.54
Fee Backpack: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$62.55
Costs to cover: 0.345%
Break-even: never at this rate

Slippage from Backpack: live order book, 4 min ago; BloFin: live order book, 3 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	0.91 bp	10.9 bp −$11	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 3 min ago	0.46 bp	6.7 bp −$7	15.6 bp −$156	doesn't fit	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	−0.1605%	1h	0.2176	−0.734%	$39K	$372K	12x	as long as short
SoDEX ARB-USD	−0.0194%	1h	0.2190	−0.073%	$9K	$2.2M	5x	as long as short
Kraken Futures PF_ARBUSD	−0.0168%	1h	0.2192	−0.021%	$1.1M	$4.3M	50x	as long as short
Gate ARB_USDT	−0.0079%	8h	0.2189	−0.146%	$5.4M	$18.1M	60x	as long as short
OKX ARB-USDT-SWAP	−0.0073%	8h	0.2188	−0.201%	$22.2M	$145.3M	50x	as long as short
MEXC ARB_USDT	−0.0073%	8h	0.2189	−0.146%	$42.8M	$62.6M	200x	as long as short
01 Exchange ARBUSD	−0.0056%	1h	0.2190	−0.119%	$7K	$236	10x	as long as short
Orderly PERP_ARB_USDC	−0.0042%	8h	0.2190	−0.096%	$16K	$413K	10x	as long as short
dYdX ARB-USD	0.0000%	1h	0.2191	−0.066%	$65K	$4K	10x	as long as short
Extended ARB-USD	0.0000%	1h	0.2188	−0.180%	$364K	$3.1M	25x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit ARB_USDC-PERPETUAL	0.0000%	1h	0.2191	−0.032%	$28K	$38K	25x	as long as short
Binance ARBUSDT	+0.0001%	8h	0.2189	−0.143%	$63.1M	$299.1M	75x	as long as short
Phemex ARBUSDT	+0.0003%	8h	0.2190	−0.096%	$4.8M	$12.8M	50x	as long as short
gTrade (Gains Network) ARB/USD	L +0.0005% / S −0.0006%	1h	0.2192	−0.022%	$72K	—	150x	as long as short
BloFin ARB-USDTshort	+0.0011%	8h	0.2189	−0.132%	$3.0M	$2.3M	75x
Variational Omni ARB	+0.0029%	8h	0.2190	−0.105%	$1.8M	$3.0M	—	as long as short
Bitget ARBUSDT	+0.0080%	8h	0.2189	−0.141%	$21.1M	$34.6M	50x	as long as short
Aevo ARB-PERP	+0.0080%	1h	0.2192	−0.012%	$139K	$7K	3x	as long as short
BingX ARB-USDT	+0.0085%	8h	0.2188	−0.169%	—	$32.7M	—	as long as short
Bybit ARBUSDT	+0.0090%	8h	0.2188	−0.187%	$53.3M	$125.7M	50x	as long as short
Lighter ARB	+0.0096%	1h	0.2190	−0.087%	$1.3M	$5.5M	15x	as long as short
Hyperliquid ARB	+0.0100%	1h	0.2191	−0.059%	$36.6M	$49.7M	10x	as long as short
Aster ARBUSDT	+0.0100%	8h	0.2190	−0.117%	$627K	$1.7M	20x	as long as short
Pacifica ARB	+0.0100%	1h	0.2191	−0.060%	$43K	$146K	10x	as long as short
KuCoin ARBUSDTM	+0.0100%	8h	0.2190	−0.100%	$19.5M	$13.8M	75x	as long as short
edgeX ARBUSDC	+0.0100%	4h	0.2188	−0.189%	$40K	$465K	20x	as long as short
GRVT ARB_USDT_Perp	+0.0100%	8h	0.2189	−0.141%	$470K	$3.6M	10x	as long as short
ApeX Omni ARBUSDT	+0.0100%	1h	0.2188	−0.187%	$118K	$267K	50x	as long as short
Polymarket Perps ARB-USD	+0.0100%	1h	0.2192	−0.005%	$74K	$2.1M	10x	as long as short
SunX ARB-USDT	+0.0100%	8h	0.2188	−0.187%	$2K	$1.1M	30x	as long as short
HTX ARB-USDT	+0.0100%	8h	0.2189	−0.128%	$293K	$836K	50x	as long as short
Backpack ARB_USDC_PERPlong	+0.0119%	1h	0.2192	long leg	$980K	$2.8M	20x
RISEx ARB/USDC	+0.0123%	1h	0.2190	−0.088%	$514K	$2.7M	10x	as long as short
GMX ARB/USD [ARB-USDC]	L +0.0276% / S −0.0159%	1h	0.2192	−0.016%	$828K	—	150x	as long as short
Reya ARBRUSDPERP	+0.0288%	1h	0.2190	−0.104%	$2K	$695	20x	as long as short
Coinbase International ARB-PERP-INTX	+0.0336%	1h	0.2193	+0.059%	$523K	$1.5M	50x	as long as short