Funding arb · Price arb /

DOT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.3064%/8h= +335.5% APRpaid last 24h +0.185%

Price spread now: Orderly against Deribit−0.127%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Deribit Short on Orderly

What this pair did over the last

the charts below follow

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

Funding pays, the price is against you. Orderly is 0.127% cheaper against Deribit than usual: you would sell low and buy high (spread −0.127% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$13 on $10k: about 3 hours of funding at the current rate (+$92 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit DOT_USDC-PERPETUAL	1.1785	−0.2964	get 0.0370% / 1h	1m 30s	$234K	$132K	50x
Short	Orderly PERP_DOT_USDC	1.1770	0.0100	get 0.0100% / 8h	3h 01m	$8K	$19K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.127%Rate

Funding earned: $643.44
Price spread: −0.127% → 0.000%: −$12.73
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Orderly: 3 bp × 2 orders: −$6
Net: $617.71
Costs to cover: 0.130%
Break-even: 0.3 days

Slippage unknown: Deribit: live order book, 52 min ago; Orderly: 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 Deribit live order book, 52 min ago	9.58 bp	13.1 bp −$13	21.1 bp −$211	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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.

DOT on 29 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	−0.2964%	1h	1.1785	long leg	$234K	$132K	50x
Coinbase International DOT-PERP-INTX	−0.0432%	1h	1.1770	−0.127%	$194K	$1.9M	50x	as long as short
Reya DOTRUSDPERP	−0.0166%	1h	1.1773	−0.101%	$255	—	—	as long as short
dYdX DOT-USD	0.0000%	1h	1.1789	+0.031%	$142K	$6K	10x	as long as short
gTrade (Gains Network) DOT/USD	L 0.0000% / S +0.0004%	1h	1.1780	−0.041%	$3K	—	150x	as long as short
Injective DOT/USDC PERP	+0.0033%	1h	1.2020	+1.994%	$328	$121K	12x	as long as short
Kraken Futures PF_DOTUSD	+0.0058%	1h	1.1786	+0.010%	$4.4M	$1.4M	50x	as long as short
Lighter DOT	+0.0096%	1h	1.1791	+0.051%	$260K	$644K	10x	as long as short
Hyperliquid DOT	+0.0100%	1h	1.1783	−0.017%	$5.2M	$3.4M	10x	as long as short
Aster DOTUSDT	+0.0100%	8h	1.1790	+0.042%	$840K	$593K	50x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance DOTUSDT	+0.0100%	8h	1.1791	+0.051%	$43.2M	$85.2M	75x	as long as short
Bybit DOTUSDT	+0.0100%	8h	1.1790	+0.042%	$24.1M	$18.9M	75x	as long as short
OKX DOT-USDT-SWAP	+0.0100%	8h	1.1790	+0.042%	$9.3M	$24.4M	50x	as long as short
Gate DOT_USDT	+0.0100%	8h	1.1790	+0.042%	$6.6M	$12.0M	75x	as long as short
MEXC DOT_USDT	+0.0100%	8h	1.1794	+0.076%	$25.5M	$56.2M	300x	as long as short
KuCoin DOTUSDTM	+0.0100%	8h	1.1790	+0.042%	$6.3M	$9.2M	75x	as long as short
Bitget DOTUSDT	+0.0100%	8h	1.1785	0.000%	$22.5M	$14.6M	75x	as long as short
BingX DOT-USDT	+0.0100%	8h	1.1788	+0.025%	—	$29.7M	—	as long as short
Backpack DOT_USDC_PERP	+0.0100%	1h	1.1776	−0.076%	$91K	$130K	10x	as long as short
Variational Omni DOT	+0.0100%	8h	1.1810	+0.216%	$537K	$52K	—	as long as short
edgeX DOTUSDC	+0.0100%	4h	1.1792	+0.060%	$35K	$336K	20x	as long as short
GRVT DOT_USDT_Perp	+0.0100%	8h	1.1813	+0.242%	$234K	$432K	10x	as long as short
Orderly PERP_DOT_USDCshort	+0.0100%	8h	1.1770	−0.127%	$8K	$19K	10x
SunX DOT-USDT	+0.0100%	8h	1.1799	+0.119%	$2K	$1.3M	20x	as long as short
HTX DOT-USDT	+0.0100%	8h	1.1789	+0.034%	$261K	$262K	75x	as long as short
Extended DOT-USD	+0.0104%	1h	1.1785	+0.003%	$14K	$243K	25x	as long as short
Phemex DOTUSDT	+0.0110%	8h	1.1790	+0.042%	$2.4M	$2.2M	50x	as long as short
BloFin DOT-USDT	+0.0220%	8h	1.1798	+0.110%	$2.2M	$880K	75x	as long as short
GMX DOT/USD [WBTC.b-USDC]	L +0.0301% / S −0.1012%	1h	1.1780	−0.038%	$22K	—	100x	as long as short