Spread before costs (cost unknown: a leg has no order-book sample)+0.229%
7d average−0.210%if it closes, per $10,000$23funding while held, a day−$34.80
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack S_USDC_PERP | 0.03850 | 0.0100 | pay 0.0013% / 1h | 1m 05s | $116K | $241K | 5x |
| Short | Variational Omni S | 0.03859 | −0.1060 | pay 0.0530% / 4h | 2h 01m | $601K | $119K | — |
Backpack S_USDC_PERP
Variational Omni SPrice 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
- $22.93
- Funding while held
- −$34.8
- Slippage, 4 orders
- no order book: not counted
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Net
- −$21.87
- Spread needed to break even
- 0.100%
Slippage unknown: Backpack: live order book, 39 min ago; Variational Omni: RFQ quote, 39 min ago. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- −0.1160%
- Per $10,000 a day
- −$34.80
- 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, 39 min ago | 12.94 bp | 17.9 bp −$18 | doesn't fit | doesn't fit | doesn't fit |
| Sell Variational Omni RFQ quote, 39 min ago | 5.20 bp | doesn't fit | 49.4 bp −$494 | doesn't fit | doesn't fit |
S price on every exchange
against the cheapest. Click to use as the short leg.Coinbase International0.03826cheapestBybit0.03839+0.340%01 Exchange0.03840+0.366%Gate0.03840+0.366%OKX0.03841+0.392%BingX0.03842+0.418%Hyperliquid0.03843+0.442%Extended0.03843+0.446%Reya0.03843+0.446%Binance0.03844+0.462%KuCoin0.03844+0.470%BloFin0.03844+0.470%Kraken Futures0.03844+0.474%Aster0.03845+0.497%MEXC0.03845+0.497%Bitget0.03845+0.497%Orderly0.03846+0.523%Lighter0.03848+0.575%
Coinbase International
Bybit
Gate
OKX
BingX
Hyperliquid
Extended
Reya
Binance
KuCoin
BloFin
Kraken Futures
Aster
MEXC
Bitget
Orderly
LighterBackpack0.03850+0.627%
ApeX Omni0.03850+0.627%Deribit0.03852+0.680%GMX0.03852+0.687%gTrade (Gains Network)0.03852+0.691%
ApeX Omni
Deribit
GMX
gTrade (Gains Network)Variational Omni0.03859+0.858%
Injective0.04100+7.162%
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 | −0.623% | −0.2080% | 1h | $47K | $10K | 25x | as long as short |
| Bybit SUSDT | −0.286% | +0.0100% | 4h | $5.5M | $9.0M | 50x | as long as short |
| 01 Exchange SUSD | −0.260% | −0.0160% | 1h | $23K | $3K | 5x | as long as short |
| Gate S_USDT | −0.260% | +0.0100% | 4h | $317K | $368K | 50x | as long as short |
| OKX S-USDT-SWAP | −0.234% | +0.0045% | 4h | $961K | $11.8M | 20x | as long as short |
| BingX S-USDT | −0.208% | +0.0100% | 4h | — | $7.0M | — | as long as short |
| Hyperliquid S | −0.184% | +0.0052% | 1h | $982K | $1.4M | 5x | as long as short |
| Extended S-USD | −0.180% | +0.0104% | 1h | $216K | $944K | 10x | as long as short |
| Reya SRUSDPERP | −0.180% | −0.0101% | 1h | $4 | — | 15x | as long as short |
| Binance SUSDT | −0.164% | +0.0100% | 4h | $5.2M | $38.3M | 75x | as long as short |
Show all 25 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| KuCoin SUSDTM | −0.156% | +0.0100% | 4h | $1.8M | $3.7M | 50x | as long as short |
| BloFin S-USDT | −0.156% | +0.0340% | 4h | $274K | $259K | 75x | as long as short |
| Kraken Futures PF_SUSD | −0.152% | −0.1671% | 1h | $33K | $43K | 10x | as long as short |
| Aster SUSDT | −0.130% | −0.0234% | 4h | $41K | $258K | 10x | as long as short |
| MEXC S_USDT | −0.130% | +0.0100% | 4h | $3.5M | $3.5M | 200x | as long as short |
| Bitget SUSDT | −0.130% | +0.0100% | 4h | $1.2M | $4.6M | 50x | as long as short |
| Orderly PERP_S_USDC | −0.104% | −0.0107% | 4h | $102K | $324K | 10x | as long as short |
| Lighter S | −0.052% | +0.0096% | 1h | $161K | $309K | 5x | as long as short |
| Backpack S_USDC_PERPlong | 0.000% | +0.0100% | 1h | $116K | $241K | 5x | |
| ApeX Omni SUSDT | 0.000% | +0.0100% | 1h | $20K | $494K | 50x | as long as short |
| Deribit S_USDC-PERPETUAL | +0.052% | −0.0269% | 1h | $65K | $11K | 10x | as long as short |
| GMX S/USD [WBTC.b-USDC] | +0.060% | L −0.0225% / S +0.0214% | 1h | $1K | — | 100x | as long as short |
| gTrade (Gains Network) S/USD | +0.063% | L +0.0001% / S +0.0006% | 1h | $594 | — | 150x | as long as short |
| Variational Omni Sshort | +0.229% | −0.1060% | 4h | $601K | $119K | — | |
| Injective S/USDC PERP | +6.494% | +0.0033% | 1h | $2K | $120K | 12x | as long as short |