Funding you earn now, next payment 02:00 UTC+0.0058%/8h= +6.4% APRpaid last 24h +0.042%
Price spread now: Backpack against OKX−0.416%46s7-day average +0.031% · you buy dearer than you sell
Net, funding: paid 7d − costs−$28as 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−$350.350% of the position
Funding, last 7 days+0.067%+$7 on $10k
+Price spread, last 4 days (all we have)+0.331%+$33 · spread now −0.416%, 7d avg +0.031%
=Funding pays, the price is against you. Backpack is 0.446% cheaper against OKX than usual: you would sell low and buy high (spread −0.416% now, against its 7-day average of +0.031%). If the spread goes back, that is −$45 on $10k: about 26 days of funding at the current rate (+$2 a day). The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | OKX DOT-USDT-SWAP | 1.2033 | 0.0042 | pay 0.0042% / 8h | 6h 28m | $9.4M | $24.4M | 50x |
| Short | Backpack DOT_USDC_PERP | 1.1983 | 0.0100 | get 0.0013% / 1h | 28m 17s | $96K | $128K | 10x |
OKX DOT-USDT-SWAP
Backpack DOT_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against OKX. 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
- $12.2
- Price spread: −0.416% → +0.031%
- −$44.65
- Slippage, 4 orders
- −$15.03
- Fee OKX: 5 bp × 2 orders
- −$10
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$67.48
- Costs to cover
- 0.350%
- Break-even
- 45.7 days
Slippage from OKX: live order book, 5 min ago; Backpack: live order book, 40 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 OKX live order book, 5 min ago | 0.42 bp | 12.0 bp −$12 | 25.8 bp −$258 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 40 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-PERPETUAL | −0.0828% | 1h | 1.2041 | +0.066% | $220K | $116K | 50x | as long as short |
| Reya DOTRUSDPERP | −0.0166% | 1h | 1.2015 | −0.149% | $260 | — | — | as long as short |
| Coinbase International DOT-PERP-INTX | −0.0024% | 1h | 1.1980 | −0.440% | $202K | $1.9M | 50x | as long as short |
| dYdX DOT-USD | 0.0000% | 1h | 1.1999 | −0.283% | $144K | $6K | 10x | as long as short |
| gTrade (Gains Network) DOT/USD | L 0.0000% / S +0.0004% | 1h | 1.2027 | −0.048% | $3K | — | 150x | as long as short |
| Injective DOT/USDC PERP | +0.0033% | 1h | 1.2020 | −0.108% | $328 | $121K | 12x | as long as short |
| OKX DOT-USDT-SWAPlong | +0.0042% | 8h | 1.2033 | long leg | $9.4M | $24.4M | 50x | |
| KuCoin DOTUSDTM | +0.0080% | 8h | 1.2006 | −0.224% | $6.5M | $9.2M | 75x | as long as short |
| Lighter DOT | +0.0096% | 1h | 1.1989 | −0.362% | $271K | $630K | 10x | as long as short |
| Hyperliquid DOT | +0.0100% | 1h | 1.2016 | −0.141% | $5.4M | $3.4M | 10x | as long as short |
Deribit DOT_USDC-PERPETUAL
Reya DOTRUSDPERP
Coinbase International DOT-PERP-INTX
dYdX DOT-USD
gTrade (Gains Network) DOT/USD
Injective DOT/USDC PERP
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 | 1.2004 | −0.241% | $868K | $704K | 50x | as long as short |
| Binance DOTUSDT | +0.0100% | 8h | 1.2015 | −0.147% | $44.2M | $84.9M | 75x | as long as short |
| Bybit DOTUSDT | +0.0100% | 8h | 1.2029 | −0.033% | $24.8M | $19.1M | 75x | as long as short |
| Gate DOT_USDT | +0.0100% | 8h | 1.2020 | −0.108% | $6.8M | $11.6M | 75x | as long as short |
| MEXC DOT_USDT | +0.0100% | 8h | 1.2016 | −0.141% | $35.3M | $46.3M | 300x | as long as short |
| Bitget DOTUSDT | +0.0100% | 8h | 1.2030 | −0.025% | $23.0M | $14.8M | 75x | as long as short |
| BingX DOT-USDT | +0.0100% | 8h | 1.2021 | −0.100% | — | $30.0M | — | as long as short |
| Backpack DOT_USDC_PERPshort | +0.0100% | 1h | 1.1983 | −0.416% | $96K | $128K | 10x | |
| Variational Omni DOT | +0.0100% | 8h | 1.1979 | −0.452% | $546K | $59K | — | as long as short |
| edgeX DOTUSDC | +0.0100% | 4h | 1.1983 | −0.416% | $35K | $335K | 20x | as long as short |
| GRVT DOT_USDT_Perp | +0.0100% | 8h | 1.1944 | −0.738% | $229K | $432K | 10x | as long as short |
| Orderly PERP_DOT_USDC | +0.0100% | 8h | 1.2030 | −0.025% | $8K | $23K | 10x | as long as short |
| SunX DOT-USDT | +0.0100% | 8h | 1.2052 | +0.158% | $2K | $1.3M | 20x | as long as short |
| HTX DOT-USDT | +0.0100% | 8h | 1.1992 | −0.341% | $250K | $224K | 75x | as long as short |
| Extended DOT-USD | +0.0104% | 1h | 1.2031 | −0.018% | $14K | $299K | 25x | as long as short |
| Kraken Futures PF_DOTUSD | +0.0195% | 1h | 1.2039 | +0.048% | $4.5M | $1.5M | 50x | as long as short |
| GMX DOT/USD [WBTC.b-USDC] | L +0.0303% / S −0.1012% | 1h | 1.2023 | −0.087% | $22K | — | 100x | as long as short |
| Phemex DOTUSDT | +0.0490% | 8h | 1.2000 | −0.274% | $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-USDT
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