Funding you earn now, next payment 02:00 UTC−0.1181%/8h= −129.3% APRnext payment −$1.48 per $10,000 · paid last 24h −0.169%
Price spread now: Deribit against Backpack−0.017%7-day average +0.045% · you buy dearer than you sell
Net, funding: paid 7d − costs−$124as in the Funding arb table
Net, price: spread back to 7d avg − costs−$44as in the Price arb table
costs, in and out, $10k−$380.375% of the position
Funding, last 7 days−0.864%−$86 on $10k
+Price spread, last 3 days (all we have)+0.036%+$4 · spread now −0.017%, 7d avg +0.045%
=Both sides work against this trade now: funding costs −$35 a day on $10k at the current rate, and Deribit is 0.062% cheaper against Backpack than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.045%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack DOT_USDC_PERP | 1.2004 | 0.0100 | pay 0.0013% / 1h | 29m 26s | $96K | $127K | 10x |
| Short | Deribit DOT_USDC-PERPETUAL | 1.2002 | −0.1081 | pay 0.0135% / 1h | 29m 26s | $219K | $116K | 50x |
Backpack DOT_USDC_PERP
Deribit DOT_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
- −$248.01
- Price spread: −0.017% → +0.045%
- −$6.17
- Slippage, 4 orders
- −$20.53
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$291.7
- Costs to cover
- 0.375%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 39 min ago; Deribit: live order book, 39 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, 39 min ago | 0.41 bp | 6.7 bp −$7 | doesn't fit | doesn't fit | doesn't fit |
| Sell Deribit live order book, 39 min ago | 4.53 bp | 12.1 bp −$12 | 23.9 bp −$239 | doesn't fit | doesn't fit |
DOT on 28 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit DOT_USDC-PERPETUALshort | −0.1081% | 1h | 1.2002 | −0.017% | $219K | $116K | 50x | |
| Reya DOTRUSDPERP | −0.0166% | 1h | 1.1971 | −0.278% | $259 | — | — | as long as short |
| Coinbase International DOT-PERP-INTX | −0.0024% | 1h | 1.2010 | +0.050% | $198K | $1.8M | 50x | as long as short |
| dYdX DOT-USD | 0.0000% | 1h | 1.1994 | −0.083% | $144K | $6K | 10x | as long as short |
| gTrade (Gains Network) DOT/USD | L 0.0000% / S +0.0004% | 1h | 1.1984 | −0.167% | $3K | — | 150x | as long as short |
| Injective DOT/USDC PERP | +0.0033% | 1h | 1.2020 | +0.133% | $328 | $121K | 12x | as long as short |
| OKX DOT-USDT-SWAP | +0.0041% | 8h | 1.1981 | −0.192% | $9.4M | $24.3M | 50x | as long as short |
| KuCoin DOTUSDTM | +0.0078% | 8h | 1.1988 | −0.133% | $6.5M | $9.2M | 75x | as long as short |
| Lighter DOT | +0.0096% | 1h | 1.1999 | −0.045% | $271K | $630K | 10x | as long as short |
| Hyperliquid DOT | +0.0100% | 1h | 1.1985 | −0.158% | $5.4M | $3.4M | 10x | as long as short |
Reya DOTRUSDPERP
Coinbase International DOT-PERP-INTX
dYdX DOT-USD
gTrade (Gains Network) DOT/USD
Injective DOT/USDC PERP
OKX DOT-USDT-SWAP
KuCoin DOTUSDTM
Lighter DOT
Hyperliquid DOTShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster DOTUSDT | +0.0100% | 8h | 1.1988 | −0.137% | $867K | $704K | 50x | as long as short |
| Binance DOTUSDT | +0.0100% | 8h | 1.1989 | −0.123% | $44.1M | $84.8M | 75x | as long as short |
| Bybit DOTUSDT | +0.0100% | 8h | 1.1984 | −0.167% | $24.7M | $19.0M | 75x | as long as short |
| Gate DOT_USDT | +0.0100% | 8h | 1.1980 | −0.200% | $6.8M | $11.6M | 75x | as long as short |
| MEXC DOT_USDT | +0.0100% | 8h | 1.1988 | −0.133% | $35.0M | $46.2M | 300x | as long as short |
| Bitget DOTUSDT | +0.0100% | 8h | 1.1980 | −0.200% | $22.9M | $14.8M | 75x | as long as short |
| BingX DOT-USDC | +0.0100% | 8h | 1.1983 | −0.175% | — | $1.3M | — | as long as short |
| Backpack DOT_USDC_PERPlong | +0.0100% | 1h | 1.2004 | long leg | $96K | $127K | 10x | |
| Variational Omni DOT | +0.0100% | 8h | 1.1979 | −0.211% | $546K | $59K | — | as long as short |
| edgeX DOTUSDC | +0.0100% | 4h | 1.1983 | −0.176% | $35K | $335K | 20x | as long as short |
| GRVT DOT_USDT_Perp | +0.0100% | 8h | 1.1944 | −0.498% | $229K | $432K | 10x | as long as short |
| Orderly PERP_DOT_USDC | +0.0100% | 8h | 1.1980 | −0.200% | $8K | $23K | 10x | as long as short |
| SunX DOT-USDT | +0.0100% | 8h | 1.2007 | +0.025% | $2K | $1.3M | 20x | as long as short |
| HTX DOT-USDT | +0.0100% | 8h | 1.1982 | −0.183% | $249K | $223K | 75x | as long as short |
| Extended DOT-USD | +0.0104% | 1h | 1.1980 | −0.202% | $14K | $299K | 25x | as long as short |
| Kraken Futures PF_DOTUSD | +0.0195% | 1h | 1.2012 | +0.068% | $4.5M | $1.4M | 50x | as long as short |
| GMX DOT/USD [WBTC.b-USDC] | L +0.0303% / S −0.1012% | 1h | 1.1983 | −0.174% | $22K | — | 100x | as long as short |
| Phemex DOTUSDT | +0.0498% | 8h | 1.2020 | +0.133% | $2.3M | $2.2M | 50x | as long as short |
Aster DOTUSDT
Binance DOTUSDT
Bybit DOTUSDT
Gate DOT_USDT
MEXC DOT_USDT
Bitget DOTUSDT
BingX DOT-USDC
Variational Omni DOT
edgeX DOTUSDC
GRVT DOT_USDT_Perp
Orderly PERP_DOT_USDC
SunX DOT-USDT
HTX DOT-USDT
Extended DOT-USD
Kraken Futures PF_DOTUSD
GMX DOT/USD [WBTC.b-USDC]
Phemex DOTUSDT