Spread before costs (cost unknown: a leg has no order-book sample)−0.181%
7d average—if it closes, per $10,000$18funding while held, a day+$5.08
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack S_USDC_PERP | 0.03860 | 0.0100 | pay 0.0013% / 1h | 39m 38s | $112K | $229K | 5x |
| Short | Deribit S_USDC-PERPETUAL | 0.03853 | 0.0269 | get 0.0034% / 1h | 39m 38s | $65K | $11K | 10x |
Backpack S_USDC_PERP
Deribit S_USDC-PERPETUALPrice spread history
latest
Range statsloading…
How often the spread is this wide
share of time at each level, last 7DBacktest
opened in the past, held until now, after costsProfit calculator
- Spread captured
- −$18.13
- Funding while held
- $5.08
- Slippage, 4 orders
- no order book: not counted
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$30.05
- Spread needed to break even
- 0.170%
Slippage unknown: Backpack: live order book, 65 min ago; Deribit: no order-book sample. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- +0.0169%
- Per $10,000 a day
- +$5.08
- Average in range /8h
- —
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 Backpack live order book, 65 min ago | 12.77 bp | 21.2 bp −$21 | doesn't fit | doesn't fit | doesn't fit |
| Sell Deribit no order-book sample | — | — | — | — | — |
Deribit: 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.
S price on every exchange
against the cheapest. Click to use as the short leg.Coinbase International0.03831cheapestVariational Omni0.03844+0.345%Bybit0.03845+0.365%Reya0.03846+0.403%Extended0.03847+0.410%Gate0.03847+0.418%KuCoin0.03847+0.418%BingX0.03847+0.418%Kraken Futures0.03847+0.424%OKX0.03849+0.470%MEXC0.03849+0.470%01 Exchange0.03850+0.496%Orderly0.03850+0.496%Hyperliquid0.03851+0.519%Binance0.03851+0.522%Bitget0.03852+0.548%
Coinbase International
Variational Omni
Bybit
Reya
Extended
Gate
KuCoin
BingX
Kraken Futures
OKX
MEXC
Orderly
Hyperliquid
Binance
BitgetDeribit0.03853+0.574%
GMX0.03854+0.598%gTrade (Gains Network)0.03854+0.598%Aster0.03854+0.609%Lighter0.03855+0.626%BloFin0.03856+0.653%
GMX
gTrade (Gains Network)
Aster
Lighter
BloFinBackpack0.03860+0.757%
ApeX Omni0.03860+0.757%
ApeX OmniInjective0.04100+7.022%
InjectiveS on 25 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Coinbase International S-PERP-INTX | −0.751% | −0.2080% | 1h | $47K | $10K | 25x | as long as short |
| Variational Omni S | −0.409% | −0.0857% | 4h | $599K | $121K | — | as long as short |
| Bybit SUSDT | −0.389% | +0.0100% | 4h | $5.6M | $9.0M | 50x | as long as short |
| Reya SRUSDPERP | −0.351% | −0.0101% | 1h | $4 | — | 15x | as long as short |
| Extended S-USD | −0.345% | +0.0104% | 1h | $216K | $946K | 10x | as long as short |
| Gate S_USDT | −0.337% | +0.0100% | 4h | $318K | $366K | 50x | as long as short |
| KuCoin SUSDTM | −0.337% | +0.0100% | 4h | $1.8M | $3.7M | 50x | as long as short |
| BingX S-USDT | −0.337% | +0.0100% | 4h | — | $7.0M | — | as long as short |
| Kraken Futures PF_SUSD | −0.330% | −0.1670% | 1h | $33K | $43K | 10x | as long as short |
| OKX S-USDT-SWAP | −0.285% | +0.0100% | 4h | $973K | $11.8M | 20x | as long as short |
Show all 25 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| MEXC S_USDT | −0.285% | +0.0100% | 4h | $3.5M | $3.4M | 200x | as long as short |
| 01 Exchange SUSD | −0.259% | −0.0080% | 1h | $23K | $3K | 5x | as long as short |
| Orderly PERP_S_USDC | −0.259% | −0.0098% | 4h | $102K | $326K | 10x | as long as short |
| Hyperliquid S | −0.236% | +0.0100% | 1h | $993K | $1.4M | 5x | as long as short |
| Binance SUSDT | −0.233% | +0.0100% | 4h | $5.3M | $38.6M | 75x | as long as short |
| Bitget SUSDT | −0.207% | +0.0100% | 4h | $1.1M | $4.6M | 50x | as long as short |
| Deribit S_USDC-PERPETUALshort | −0.181% | +0.0269% | 1h | $65K | $11K | 10x | |
| GMX S/USD [WBTC.b-USDC] | −0.158% | L −0.0327% / S +0.0305% | 1h | $1K | — | 100x | as long as short |
| gTrade (Gains Network) S/USD | −0.158% | L +0.0001% / S +0.0006% | 1h | $594 | — | 150x | as long as short |
| Aster SUSDT | −0.147% | −0.0115% | 4h | $42K | $260K | 10x | as long as short |
| Lighter S | −0.130% | +0.0096% | 1h | $162K | $309K | 5x | as long as short |
| BloFin S-USDT | −0.104% | +0.0340% | 4h | $278K | $257K | 75x | as long as short |
| Backpack S_USDC_PERPlong | 0.000% | +0.0100% | 1h | $112K | $229K | 5x | |
| ApeX Omni SUSDT | 0.000% | +0.0100% | 1h | $24K | $496K | 50x | as long as short |
| Injective S/USDC PERP | +6.218% | +0.0033% | 1h | $2K | $120K | 12x | as long as short |