DOT

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.1265%/8h= +138.5% APRnext payment +$1.58 per $10,000 · paid last 24h +0.169%

Price spread now: Backpack against Deribit+0.092%50s7-day average −0.045% · you sell dearer than you buy

Net, funding: paid 7d − costs+$49as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$380.375% of the position

Long on Deribit Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.864%+$86 on $10k

Price spread, last 3 days (all we have)−0.111%−$11 · spread now +0.092%, 7d avg −0.045%

Together, before fees+0.753%+$75 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$38 a day on $10k at the current rate, and Backpack is 0.137% dearer against Deribit than usual: you sell high and buy low: +$14 more if the spread goes back to its 7-day average of −0.045%. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.864% in total (about 45.1% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.58 per $10,000. 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	Deribit DOT_USDC-PERPETUAL	1.1993	−0.1165	get 0.0146% / 1h	29m 20s	$219K	$116K	50x
Short	Backpack DOT_USDC_PERP	1.2004	0.0100	get 0.0013% / 1h	29m 20s	$96K	$127K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Deribit. 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 DeribitbpFee BackpackbpOrdersPrice spread, now +0.092%Rate

Funding earned: $265.65
Price spread: +0.092% → −0.045%: $13.67
Slippage, 4 orders: −$20.53
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Backpack: 5 bp × 2 orders: −$10
Net: $241.8
Costs to cover: 0.375%
Break-even: 0.6 days

Slippage from Deribit: live order book, 39 min ago; Backpack: 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 Deribit live order book, 39 min ago	4.53 bp	12.9 bp −$13	20.0 bp −$200	doesn't fit	doesn't fit
Sell Backpack live order book, 39 min ago	0.41 bp	5.8 bp −$6	493.2 bp −$4,932	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-PERPETUALlong	−0.1165%	1h	1.1993	long leg	$219K	$116K	50x
Reya DOTRUSDPERP	−0.0166%	1h	1.1971	−0.187%	$259	—	—	as long as short
Coinbase International DOT-PERP-INTX	−0.0024%	1h	1.1980	−0.108%	$202K	$1.9M	50x	as long as short
dYdX DOT-USD	0.0000%	1h	1.1994	+0.009%	$144K	$6K	10x	as long as short
gTrade (Gains Network) DOT/USD	L 0.0000% / S +0.0004%	1h	1.1984	−0.075%	$3K	—	150x	as long as short
Injective DOT/USDC PERP	+0.0033%	1h	1.2020	+0.225%	$328	$121K	12x	as long as short
OKX DOT-USDT-SWAP	+0.0041%	8h	1.1988	−0.042%	$9.4M	$24.3M	50x	as long as short
KuCoin DOTUSDTM	+0.0078%	8h	1.1988	−0.042%	$6.5M	$9.2M	75x	as long as short
Lighter DOT	+0.0096%	1h	1.1986	−0.057%	$270K	$630K	10x	as long as short
Hyperliquid DOT	+0.0100%	1h	1.1985	−0.067%	$5.4M	$3.4M	10x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster DOTUSDT	+0.0100%	8h	1.1997	+0.037%	$868K	$704K	50x	as long as short
Binance DOTUSDT	+0.0100%	8h	1.1985	−0.067%	$44.1M	$84.9M	75x	as long as short
Bybit DOTUSDT	+0.0100%	8h	1.1991	−0.017%	$24.7M	$19.0M	75x	as long as short
Gate DOT_USDT	+0.0100%	8h	1.1980	−0.108%	$6.8M	$11.6M	75x	as long as short
MEXC DOT_USDT	+0.0100%	8h	1.1988	−0.042%	$35.0M	$46.2M	300x	as long as short
Bitget DOTUSDT	+0.0100%	8h	1.1980	−0.108%	$22.9M	$14.8M	75x	as long as short
BingX DOT-USDC	+0.0100%	8h	1.1983	−0.083%	—	$1.3M	—	as long as short
Backpack DOT_USDC_PERPshort	+0.0100%	1h	1.2004	+0.092%	$96K	$127K	10x
Variational Omni DOT	+0.0100%	8h	1.1979	−0.120%	$546K	$59K	—	as long as short
edgeX DOTUSDC	+0.0100%	4h	1.1983	−0.084%	$35K	$335K	20x	as long as short
GRVT DOT_USDT_Perp	+0.0100%	8h	1.1944	−0.407%	$229K	$432K	10x	as long as short
Orderly PERP_DOT_USDC	+0.0100%	8h	1.1980	−0.108%	$8K	$23K	10x	as long as short
SunX DOT-USDT	+0.0100%	8h	1.1997	+0.033%	$2K	$1.3M	20x	as long as short
HTX DOT-USDT	+0.0100%	8h	1.1992	−0.008%	$250K	$224K	75x	as long as short
Extended DOT-USD	+0.0104%	1h	1.1975	−0.152%	$14K	$299K	25x	as long as short
Kraken Futures PF_DOTUSD	+0.0196%	1h	1.1983	−0.080%	$4.5M	$1.5M	50x	as long as short
GMX DOT/USD [WBTC.b-USDC]	L +0.0303% / S −0.1012%	1h	1.1983	−0.083%	$22K	—	100x	as long as short
Phemex DOTUSDT	+0.0490%	8h	1.2000	+0.058%	$2.3M	$2.2M	50x	as long as short