S

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−1.0145%/8h= −1110.8% APRnext payment −$12.68 per $10,000 · paid last 24h −2.299%

Price spread now: 01 Exchange against Backpack−2.696%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 01 Exchange

What this pair did over the last

the charts below follow

Funding, last 4 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 −$304 a day on $10k at the current rate, and 01 Exchange is 2.696% cheaper against Backpack than usual: you would sell low and buy high (−$270 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	0.04080	0.0961	pay 0.0120% / 1h	45m 18s	$119K	$395K	5x
Short	01 Exchange SUSD	0.03970	−0.9184	pay 0.1148% / 1h	45m 18s	$25K	$2K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now −2.696%Rate

Funding earned: −$2,130.38
Price spread: −2.696% → 0.000%: −$269.61
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$2,416.99
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Backpack: live order book, 13 min ago; 01 Exchange: 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, 13 min ago	12.15 bp	20.7 bp −$21	doesn't fit	doesn't fit	doesn't fit
Sell 01 Exchange no order-book sample	—	—	—	—	—

01 Exchange: 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
01 Exchange SUSDshort	−0.9184%	1h	0.03970	−2.696%	$25K	$2K	5x
Kraken Futures PF_SUSD	−0.2517%	1h	0.04056	−0.596%	$34K	$13K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1376%	1h	0.04022	−1.422%	$48K	$16K	25x	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.04061	−0.475%	$1K	—	100x	as long as short
ApeX Omni SUSDT	−0.0187%	1h	0.04060	−0.490%	$25K	$455K	50x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.04066	−0.336%	$4	—	15x	as long as short
Variational Omni S	−0.0058%	4h	0.04063	−0.423%	$630K	$31K	—	as long as short
Deribit S_USDC-PERPETUAL	0.0000%	1h	0.04063	−0.417%	$68K	$10K	10x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04062	−0.442%	$3K	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+0.490%	$2K	$37K	12x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_S_USDC	+0.0058%	4h	0.04060	−0.490%	$101K	$304K	10x	as long as short
Lighter S	+0.0096%	1h	0.04063	−0.417%	$171K	$154K	5x	as long as short
Hyperliquid S	+0.0100%	1h	0.04072	−0.184%	$1.0M	$551K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04066	−0.341%	$45K	$130K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.04059	−0.515%	$5.6M	$13.7M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.04057	−0.564%	$5.8M	$4.5M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.04058	−0.539%	$1.1M	$3.9M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.04066	−0.343%	$333K	$187K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.04064	−0.392%	$3.9M	$1.7M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.04070	−0.245%	$1.9M	$2.7M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.04065	−0.368%	$1.2M	$2.2M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.04062	−0.441%	—	$6.8M	—	as long as short
Extended S-USD	+0.0104%	1h	0.04056	−0.590%	$233K	$1.1M	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.04064	−0.392%	$284K	$98K	75x	as long as short
Backpack S_USDC_PERPlong	+0.0961%	1h	0.04080	long leg	$119K	$395K	5x