Funding arb · Price arb /

FIL

all FIL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0321%/8h= +35.2% APRpaid last 24h +0.116%

Price spread now: Binance against Coinbase International+0.120%7-day average −0.089% · you sell dearer than you buy

Net, funding: paid 7d − costs−$26as in the Funding arb table

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$470.473% of the position

Long on Coinbase International Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.213%+$21 on $10k

Price spread, last 3 days (all we have)−0.221%−$22 · spread now +0.120%, 7d avg −0.089%

Together, before fees−0.008%−$1 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and Binance is 0.209% dearer against Coinbase International than usual: you sell high and buy low: +$21 more if the spread goes back to its 7-day average of −0.089%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.213% in total (about 11.1% a year). A funding rate is set anew for every payment. 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	Coinbase International FIL-PERP-INTX	0.9994	−0.0296	get 0.0037% / 1h	46m 57s	$375K	$2.1M	50x
Short	Binance FILUSDT	1.0006	0.0025	get 0.0025% / 8h	6h 46m	$57.5M	$181.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Coinbase International. 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 Coinbase InternationalbpFee BinancebpOrdersPrice spread, now +0.120%Rate

Funding earned: $67.41
Price spread: +0.120% → −0.089%: $20.87
Slippage, 4 orders: −$27.3
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: $40.98
Costs to cover: 0.473%
Break-even: 2.7 days

Slippage from Coinbase International: live order book, 2 min ago; Binance: live order book, 11 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 Coinbase International live order book, 2 min ago	7.51 bp	14.3 bp −$14	21.1 bp −$211	doesn't fit	doesn't fit
Sell Binance live order book, 11 min ago	0.50 bp	8.7 bp −$9	17.2 bp −$172	66.3 bp −$6,626	doesn't fit

FIL 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
Coinbase International FIL-PERP-INTXlong	−0.0296%	1h	0.9994	long leg	$375K	$2.1M	50x
Kraken Futures PF_FILUSD	−0.0192%	1h	0.9989	−0.048%	$1.4M	$2.4M	50x	as long as short
OKX FIL-USDT-SWAP	−0.0059%	8h	1.0008	+0.140%	$18.4M	$100.2M	50x	as long as short
KuCoin FILUSDTM	−0.0044%	8h	0.9986	−0.080%	$7.4M	$7.3M	50x	as long as short
gTrade (Gains Network) FIL/USD	L −0.0005% / S +0.0006%	1h	0.9999	+0.045%	$36K	—	150x	as long as short
dYdX FIL-USD	0.0000%	1h	0.9992	−0.020%	$58K	$2K	10x	as long as short
Deribit FIL_USDC-PERPETUAL	0.0000%	1h	1.0001	+0.070%	$172K	$23K	25x	as long as short
Extended FIL-USD	+0.0024%	1h	0.9992	−0.024%	$699K	$3.3M	10x	as long as short
Binance FILUSDTshort	+0.0025%	8h	1.0006	+0.120%	$57.5M	$181.9M	75x
Injective FIL/USDC PERP	+0.0033%	1h	0.9855	−1.391%	$2K	$240K	12x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate FIL_USDT	+0.0050%	8h	1.0008	+0.140%	$8.3M	$15.9M	50x	as long as short
MEXC FIL_USDC	+0.0065%	8h	0.9991	−0.030%	$245K	$103K	50x	as long as short
BloFin FIL-USDT	+0.0093%	8h	0.9993	−0.010%	$2.7M	$610K	75x	as long as short
Lighter FIL	+0.0096%	1h	0.9985	−0.089%	$161K	$342K	5x	as long as short
Bitget FILUSDT	+0.0096%	8h	1.0009	+0.150%	$11.2M	$22.0M	75x	as long as short
Hyperliquid FIL	+0.0100%	1h	0.9991	−0.034%	$8.6M	$9.5M	5x	as long as short
Aster FILUSDT	+0.0100%	8h	0.9990	−0.041%	$510K	$611K	20x	as long as short
Bybit FILUSDT	+0.0100%	8h	1.0007	+0.130%	$15.7M	$18.8M	25x	as long as short
BingX FIL-USDC	+0.0100%	8h	1.0005	+0.110%	—	$6.5M	—	as long as short
Variational Omni FIL	+0.0100%	8h	0.9935	−0.591%	$447K	$269K	—	as long as short
edgeX FILUSDC	+0.0100%	4h	0.9984	−0.103%	$46K	$295K	10x	as long as short
GRVT FIL_USDT_Perp	+0.0100%	8h	0.9996	+0.016%	$298K	$849K	10x	as long as short
ApeX Omni FILUSDT	+0.0100%	1h	0.9980	−0.140%	$30K	$193K	50x	as long as short
Orderly PERP_FIL_USDC_mythos	+0.0100%	4h	1.0002	+0.075%	$5K	—	10x	as long as short
SunX FIL-USDT	+0.0100%	8h	0.9990	−0.040%	$3K	$1.1M	20x	as long as short
SoDEX FIL-USD	+0.0100%	1h	0.9985	−0.090%	$495	$11K	5x	as long as short
HTX FIL-USDT	+0.0100%	8h	0.9994	0.000%	$643K	$5.8M	75x	as long as short
Phemex FILUSDT	+0.0100%	8h	0.9990	−0.040%	$1.1M	$2.3M	50x	as long as short
GMX FIL/USD [WBTC.b-USDC]	L +0.0573% / S −0.0592%	1h	0.9998	+0.042%	$202K	—	100x	as long as short