FIL

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0213%/8h= +23.3% APRnext payment +$0.27 per $10,000 · paid last 24h +0.043%

Price spread now: Coinbase International against Deribit−0.181%7-day average +0.031% · you buy dearer than you sell

Net, funding: paid 7d − costs−$43as in the Funding arb table

Net, price: spread back to 7d avg − costs−$77as in the Price arb table

costs, in and out, $10k−$560.560% of the position

Long on Deribit Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.130%+$13 on $10k

Price spread, last 4 days (all we have)+0.246%+$25 · spread now −0.181%, 7d avg +0.031%

Together, before fees+0.376%+$38 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.212% cheaper against Deribit than usual: you would sell low and buy high (spread −0.181% now, against its 7-day average of +0.031%). If the spread goes back, that is −$21 on $10k: about 3.3 days of funding at the current rate (+$6 a day). At the pace of the last 7 days (+0.130% in total) that is about 11 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.130% in total (about 6.8% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.27 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 FIL_USDC-PERPETUAL	0.9951	−0.0453	get 0.0057% / 1h	23m 10s	$171K	$23K	25x
Short	Coinbase International FIL-PERP-INTX	0.9933	−0.0240	pay 0.0030% / 1h	23m 10s	$361K	$2.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.181%Rate

Funding earned: $44.73
Price spread: −0.181% → +0.031%: −$21.21
Slippage, 4 orders: −$39.01
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$32.49
Costs to cover: 0.560%
Break-even: 12.1 days

Slippage from Deribit: live order book, 30 min ago; Coinbase International: live order book, 1 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, 30 min ago	9.41 bp	14.9 bp −$15	23.9 bp −$239	doesn't fit	doesn't fit
Sell Coinbase International live order book, 1 min ago	5.53 bp	12.7 bp −$13	16.4 bp −$164	doesn't fit	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
Deribit FIL_USDC-PERPETUALlong	−0.0453%	1h	0.9951	long leg	$171K	$23K	25x
Coinbase International FIL-PERP-INTXshort	−0.0240%	1h	0.9933	−0.181%	$361K	$2.1M	50x
gTrade (Gains Network) FIL/USD	L −0.0004% / S +0.0006%	1h	0.9951	0.000%	$26K	—	150x	as long as short
dYdX FIL-USD	0.0000%	1h	0.9940	−0.108%	$58K	$2K	10x	as long as short
OKX FIL-USDT-SWAP	+0.0003%	8h	0.9936	−0.151%	$18.4M	$105.9M	50x	as long as short
KuCoin FILUSDTM	+0.0020%	8h	0.9946	−0.050%	$7.3M	$7.7M	50x	as long as short
Injective FIL/USDC PERP	+0.0033%	1h	0.9855	−0.965%	$2K	$240K	12x	as long as short
Kraken Futures PF_FILUSD	+0.0067%	1h	0.9947	−0.038%	$1.4M	$2.3M	50x	as long as short
Lighter FIL	+0.0096%	1h	0.9942	−0.092%	$153K	$365K	5x	as long as short
Hyperliquid FIL	+0.0100%	1h	0.9940	−0.112%	$8.4M	$9.4M	5x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster FILUSDT	+0.0100%	8h	0.9939	−0.125%	$507K	$613K	20x	as long as short
Binance FILUSDT	+0.0100%	8h	0.9940	−0.114%	$57.1M	$185.3M	75x	as long as short
Bybit FILUSDT	+0.0100%	8h	0.9935	−0.161%	$15.8M	$20.4M	25x	as long as short
Gate FIL_USDT	+0.0100%	8h	0.9943	−0.080%	$8.4M	$16.8M	50x	as long as short
MEXC FIL_USDC	+0.0100%	8h	0.9943	−0.080%	$239K	$104K	50x	as long as short
Bitget FILUSDT	+0.0100%	8h	0.9935	−0.161%	$11.3M	$20.4M	75x	as long as short
BingX FIL-USDC	+0.0100%	8h	0.9937	−0.141%	—	$6.5M	—	as long as short
Variational Omni FIL	+0.0100%	8h	0.9956	+0.047%	$450K	$266K	—	as long as short
edgeX FILUSDC	+0.0100%	4h	0.9967	+0.163%	$45K	$295K	10x	as long as short
GRVT FIL_USDT_Perp	+0.0100%	8h	0.9965	+0.142%	$294K	$1.1M	10x	as long as short
ApeX Omni FILUSDT	+0.0100%	1h	0.9960	+0.090%	$30K	$182K	50x	as long as short
Orderly PERP_FIL_USDC_mythos	+0.0100%	4h	0.9958	+0.065%	$4K	$798	10x	as long as short
SunX FIL-USDT	+0.0100%	8h	0.9940	−0.111%	$3K	$1.1M	20x	as long as short
SoDEX FIL-USD	+0.0100%	1h	0.9943	−0.080%	$476	$11K	5x	as long as short
HTX FIL-USDT	+0.0100%	8h	0.9952	+0.010%	$619K	$5.8M	75x	as long as short
Phemex FILUSDT	+0.0100%	8h	0.9940	−0.111%	$1.2M	$2.6M	50x	as long as short
Extended FIL-USD	+0.0104%	1h	0.9946	−0.049%	$700K	$2.7M	10x	as long as short
BloFin FIL-USDT	+0.0220%	8h	0.9940	−0.111%	$2.7M	$712K	75x	as long as short
GMX FIL/USD [WBTC.b-USDC]	L +0.0582% / S −0.0252%	1h	0.9951	−0.001%	$265K	—	100x	as long as short