Funding you earn now, next payment 05:00 UTC−0.0569%/8h= −62.3% APRnext payment −$0.71 per $10,000 · paid last 24h −0.163%
Price spread now: Deribit against Backpack−0.095%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 −$17 a day on $10k at the current rate, and Deribit is 0.095% cheaper against Backpack than usual: you would sell low and buy high (−$10 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 ARB_USDC_PERP | 0.2202 | 0.0569 | pay 0.0071% / 1h | 56m 23s | $992K | $2.8M | 20x |
| Short | Deribit ARB_USDC-PERPETUAL | 0.2200 | 0 | get 0.0000% / 1h | 56m 23s | $24K | $34K | 25x |
Backpack ARB_USDC_PERP
Deribit ARB_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit 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
- −$119.47
- Price spread: −0.095% → 0.000%
- −$9.54
- Slippage, 4 orders
- no order book: not counted
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$146
- Costs to cover
- 0.170%
- Break-even
- never at this rate
Slippage unknown: Backpack: live order book, 3 min ago; Deribit: 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 Backpack live order book, 3 min ago | 0.68 bp | 10.4 bp −$10 | doesn't fit | doesn't fit | doesn't fit |
| Sell Deribit no order-book sample | — | — | — | — | — |
Deribit: 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.
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 | −0.1589% | 1h | 0.2193 | −0.404% | $40K | $372K | 12x | as long as short |
| Polymarket Perps ARB-USD | −0.0301% | 1h | 0.2199 | −0.141% | $86K | $2.1M | 10x | as long as short |
| OKX ARB-USDT-SWAP | −0.0116% | 8h | 0.2199 | −0.123% | $22.2M | $144.2M | 50x | as long as short |
| MEXC ARB_USDT | −0.0116% | 8h | 0.2200 | −0.073% | $42.6M | $60.0M | 200x | as long as short |
| SoDEX ARB-USD | −0.0111% | 1h | 0.2199 | −0.127% | $10K | $2.2M | 5x | as long as short |
| 01 Exchange ARBUSD | −0.0104% | 1h | 0.2200 | −0.064% | $7K | $2K | 10x | as long as short |
| Variational Omni ARB | −0.0095% | 8h | 0.2201 | −0.054% | $1.8M | $2.9M | — | as long as short |
| Orderly PERP_ARB_USDC | −0.0074% | 8h | 0.2200 | −0.086% | $13K | $402K | 10x | as long as short |
| Kraken Futures PF_ARBUSD | −0.0050% | 1h | 0.2200 | −0.081% | $1.1M | $4.4M | 50x | as long as short |
| Bybit ARBUSDT | −0.0043% | 8h | 0.2199 | −0.145% | $55.3M | $124.3M | 50x | as long as short |
Injective ARB/USDC PERP
Polymarket Perps ARB-USD
OKX ARB-USDT-SWAP
MEXC ARB_USDT
SoDEX ARB-USD
01 Exchange ARBUSD
Variational Omni ARB
Orderly PERP_ARB_USDC
Kraken Futures PF_ARBUSD
Bybit ARBUSDTShow all 36 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate ARB_USDT | −0.0034% | 8h | 0.2199 | −0.136% | $5.3M | $18.0M | 60x | as long as short |
| dYdX ARB-USD | 0.0000% | 1h | 0.2199 | −0.115% | $65K | $5K | 10x | as long as short |
| Deribit ARB_USDC-PERPETUALshort | 0.0000% | 1h | 0.2200 | −0.095% | $24K | $34K | 25x | |
| gTrade (Gains Network) ARB/USD | L +0.0005% / S −0.0006% | 1h | 0.2201 | −0.033% | $32K | — | 150x | as long as short |
| Binance ARBUSDT | +0.0022% | 8h | 0.2201 | −0.054% | $63.9M | $300.4M | 75x | as long as short |
| Extended ARB-USD | +0.0024% | 1h | 0.2197 | −0.204% | $350K | $2.5M | 25x | as long as short |
| Bitget ARBUSDT | +0.0060% | 8h | 0.2199 | −0.132% | $20.9M | $34.1M | 50x | as long as short |
| BingX ARB-USDT | +0.0061% | 8h | 0.2200 | −0.068% | — | $53.6M | — | as long as short |
| BloFin ARB-USDT | +0.0086% | 8h | 0.2199 | −0.136% | $3.1M | $2.5M | 75x | as long as short |
| Aevo ARB-PERP | +0.0088% | 1h | 0.2201 | −0.061% | $140K | $7K | 3x | as long as short |
| Lighter ARB | +0.0096% | 1h | 0.2198 | −0.163% | $1.2M | $5.5M | 15x | as long as short |
| Hyperliquid ARB | +0.0100% | 1h | 0.2201 | −0.036% | $37.7M | $48.5M | 10x | as long as short |
| Aster ARBUSDT | +0.0100% | 8h | 0.2200 | −0.086% | $633K | $1.6M | 20x | as long as short |
| Pacifica ARB | +0.0100% | 1h | 0.2198 | −0.195% | $42K | $163K | 10x | as long as short |
| KuCoin ARBUSDTM | +0.0100% | 8h | 0.2200 | −0.077% | $19.5M | $14.8M | 75x | as long as short |
| edgeX ARBUSDC | +0.0100% | 4h | 0.2201 | −0.055% | $38K | $461K | 20x | as long as short |
| GRVT ARB_USDT_Perp | +0.0100% | 8h | 0.2201 | −0.041% | $467K | $3.6M | 10x | as long as short |
| ApeX Omni ARBUSDT | +0.0100% | 1h | 0.2201 | −0.041% | $119K | $284K | 50x | as long as short |
| SunX ARB-USDT | +0.0100% | 8h | 0.2201 | −0.041% | $2K | $1.1M | 30x | as long as short |
| HTX ARB-USDT | +0.0100% | 8h | 0.2201 | −0.059% | $299K | $900K | 50x | as long as short |
| Phemex ARBUSDT | +0.0100% | 8h | 0.2201 | −0.041% | $5.0M | $12.9M | 50x | as long as short |
| RISEx ARB/USDC | +0.0118% | 1h | 0.2200 | −0.091% | $482K | $2.6M | 10x | as long as short |
| Coinbase International ARB-PERP-INTX | +0.0256% | 1h | 0.2204 | +0.095% | $492K | $1.8M | 50x | as long as short |
| GMX ARB/USD [ARB-USDC] | L +0.0276% / S −0.0158% | 1h | 0.2201 | −0.042% | $830K | — | 150x | as long as short |
| Reya ARBRUSDPERP | +0.0289% | 1h | 0.2198 | −0.156% | $2K | $695 | 20x | as long as short |
| Backpack ARB_USDC_PERPlong | +0.0569% | 1h | 0.2202 | long leg | $992K | $2.8M | 20x |
Gate ARB_USDT
dYdX ARB-USD
gTrade (Gains Network) ARB/USD
Binance ARBUSDT
Extended ARB-USD
Bitget ARBUSDT
BingX ARB-USDT
BloFin ARB-USDT
Aevo ARB-PERP
Lighter ARB
Hyperliquid ARB
Aster ARBUSDT
Pacifica ARB
KuCoin ARBUSDTM
edgeX ARBUSDC
GRVT ARB_USDT_Perp
ApeX Omni ARBUSDT
SunX ARB-USDT
HTX ARB-USDT
Phemex ARBUSDT
RISEx ARB/USDC
Coinbase International ARB-PERP-INTX
GMX ARB/USD [ARB-USDC]
Reya ARBRUSDPERP