S

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.2318%/8h= −253.8% APRnext payment −$2.90 per $10,000 · paid last 24h −0.094%

Price spread now: gTrade (Gains Network) against Backpack−0.274%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Backpack Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$70 a day on $10k at the current rate, and gTrade (Gains Network) is 0.274% cheaper against Backpack than usual: you would sell low and buy high (−$27 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack S_USDC_PERP	0.04010	0.2312	pay 0.0289% / 1h	53m 41s	$117K	$424K	5x
Short	gTrade (Gains Network) S/USD	0.03999	L +0.0001% / S +0.0006%	pay 0.0001% / 1h	53m 41s	$616	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against Backpack. 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 BackpackbpFee gTrade (Gains Network)bpOrdersPrice spread, now −0.274%Rate

Funding earned: −$486.74
Price spread: −0.274% → 0.000%: −$27.43
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$534.17
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Backpack: live order book, 65 min ago; gTrade (Gains Network): no order-book sample. Net counts fees only.

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	12.15 bp	20.7 bp −$21	doesn't fit	doesn't fit	doesn't fit
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

gTrade (Gains Network): 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 on 25 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
Kraken Futures PF_SUSD	−0.2229%	1h	0.03996	−0.349%	$33K	$13K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1344%	1h	0.03928	−2.045%	$47K	$16K	25x	as long as short
01 Exchange SUSD	−0.0880%	1h	0.03960	−1.247%	$25K	$2K	5x	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.03998	−0.294%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03993	−0.421%	$4	—	15x	as long as short
Variational Omni S	−0.0033%	4h	0.04003	−0.180%	$620K	$30K	—	as long as short
gTrade (Gains Network) S/USDshort	L +0.0001% / S +0.0006%	1h	0.03999	−0.274%	$616	—	150x
Injective S/USDC PERP	+0.0033%	1h	0.04100	+2.244%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0075%	4h	0.03999	−0.274%	$99K	$270K	10x	as long as short
Lighter S	+0.0096%	1h	0.04001	−0.224%	$168K	$155K	5x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid S	+0.0100%	1h	0.03996	−0.349%	$1.0M	$592K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04005	−0.135%	$44K	$140K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.03998	−0.299%	$5.6M	$14.0M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03991	−0.474%	$5.7M	$4.6M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.03998	−0.299%	$1.0M	$3.9M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.03994	−0.399%	$326K	$189K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.04001	−0.224%	$3.7M	$1.7M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03997	−0.324%	$1.8M	$2.7M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03998	−0.299%	$1.2M	$2.3M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03994	−0.399%	—	$6.8M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03960	−1.247%	$24K	$461K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03996	−0.346%	$225K	$1.1M	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.04001	−0.224%	$273K	$100K	75x	as long as short
Deribit S_USDC-PERPETUAL	+0.1000%	1h	0.04004	−0.150%	$67K	$10K	10x	as long as short
Backpack S_USDC_PERPlong	+0.2312%	1h	0.04010	long leg	$117K	$424K	5x