Funding arb · Price arb /

FIL

all FIL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0428%/8h= −46.9% APRpaid last 24h −0.135%

Price spread now: Coinbase International against HTX+0.111%59s7-day average −0.075% · you sell dearer than you buy

Net, funding: paid 7d − costs−$112as 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−$640.638% of the position

Long on HTX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.485%−$48 on $10k

Price spread, last 3 days (all we have)−0.448%−$45 · spread now +0.111%, 7d avg −0.075%

Together, before fees−0.933%−$93 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 0.186% dearer against HTX than usual: you sell high and buy low (spread +0.111% now, against its 7-day average of −0.075%): +$19 on $10k if it goes back. Holding the pair costs −$13 a day in funding at the current rate, which eats that in about 35 hours. The two prices were read 59 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	HTX FIL-USDT	0.9870	0.0100	pay 0.0100% / 8h	7h 55m	$625K	$5.7M	75x
Short	Coinbase International FIL-PERP-INTX	0.9881	−0.0328	pay 0.0041% / 1h	55m 24s	$318K	$1.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against HTX. 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 HTXbpFee Coinbase InternationalbpOrdersPrice spread, now +0.111%Rate

Funding earned: −$89.88
Price spread: +0.111% → −0.075%: $18.64
Slippage, 4 orders: −$41.76
Fee HTX: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$135
Costs to cover: 0.638%
Break-even: never at this rate

Slippage from HTX: live order book, 4 min ago; Coinbase International: live order book, 3 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 HTX live order book, 4 min ago	1.52 bp	14.8 bp −$15	119.4 bp −$1,194	doesn't fit	doesn't fit
Sell Coinbase International live order book, 3 min ago	6.59 bp	14.3 bp −$14	19.6 bp −$196	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-PERPETUAL	−0.0562%	1h	0.9850	−0.203%	$170K	$23K	25x	as long as short
Kraken Futures PF_FILUSD	−0.0333%	1h	0.9844	−0.264%	$1.3M	$2.4M	50x	as long as short
Gate FIL_USDT	−0.0331%	8h	0.9843	−0.274%	$8.2M	$16.0M	50x	as long as short
Coinbase International FIL-PERP-INTXshort	−0.0328%	1h	0.9881	+0.111%	$318K	$1.8M	50x
Bybit FILUSDT	−0.0051%	8h	0.9843	−0.274%	$15.3M	$18.4M	25x	as long as short
KuCoin FILUSDTM	−0.0035%	8h	0.9847	−0.233%	$7.4M	$7.1M	50x	as long as short
OKX FIL-USDT-SWAP	−0.0025%	8h	0.9838	−0.324%	$18.0M	$98.6M	50x	as long as short
gTrade (Gains Network) FIL/USD	L −0.0004% / S +0.0006%	1h	0.9851	−0.189%	$24K	—	150x	as long as short
dYdX FIL-USD	0.0000%	1h	0.9859	−0.111%	$57K	$2K	10x	as long as short
Extended FIL-USD	+0.0032%	1h	0.9838	−0.326%	$689K	$2.3M	10x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance FILUSDT	+0.0032%	8h	0.9841	−0.291%	$57.0M	$179.6M	75x	as long as short
Injective FIL/USDC PERP	+0.0033%	1h	0.9855	−0.152%	$2K	$240K	12x	as long as short
BingX FIL-USDT	+0.0046%	8h	0.9846	−0.243%	—	$11.9M	—	as long as short
Bitget FILUSDT	+0.0049%	8h	0.9835	−0.355%	$10.8M	$21.6M	75x	as long as short
MEXC FIL_USDC	+0.0054%	8h	0.9847	−0.233%	$247K	$103K	50x	as long as short
Lighter FIL	+0.0096%	1h	0.9851	−0.188%	$158K	$345K	5x	as long as short
Hyperliquid FIL	+0.0100%	1h	0.9847	−0.238%	$8.5M	$9.5M	5x	as long as short
Aster FILUSDT	+0.0100%	8h	0.9845	−0.250%	$493K	$546K	20x	as long as short
Variational Omni FIL	+0.0100%	8h	0.9866	−0.039%	$440K	$278K	—	as long as short
edgeX FILUSDC	+0.0100%	4h	0.9856	−0.141%	$45K	$293K	10x	as long as short
GRVT FIL_USDT_Perp	+0.0100%	8h	0.9855	−0.149%	$287K	$816K	10x	as long as short
ApeX Omni FILUSDT	+0.0100%	1h	0.9850	−0.203%	$30K	$196K	50x	as long as short
Orderly PERP_FIL_USDC_mythos	+0.0100%	4h	0.9853	−0.174%	$5K	—	10x	as long as short
SunX FIL-USDT	+0.0100%	8h	0.9840	−0.304%	$3K	$1.1M	20x	as long as short
SoDEX FIL-USD	+0.0100%	1h	0.9837	−0.334%	$485	$11K	5x	as long as short
HTX FIL-USDTlong	+0.0100%	8h	0.9870	long leg	$625K	$5.7M	75x
Phemex FILUSDT	+0.0100%	8h	0.9870	0.000%	$1.1M	$2.3M	50x	as long as short
BloFin FIL-USDT	+0.0136%	8h	0.9857	−0.132%	$2.7M	$568K	75x	as long as short
GMX FIL/USD [WBTC.b-USDC]	L +0.0538% / S −0.0538%	1h	0.9848	−0.219%	$196K	—	100x	as long as short