S

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0297%/8h= +32.5% APRnext payment +$0.37 per $10,000 · paid last 24h +0.043%

Price spread now: Backpack against gTrade (Gains Network)+0.210%7-day average — · you sell dearer than you buy

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

Long on gTrade (Gains Network)Short on Backpack

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 for this trade now. Funding pays +$9 a day on $10k at the current rate, and Backpack is 0.210% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$21 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) S/USD	0.04002	L +0.0001% / S +0.0006%	pay 0.0000% / 1h	6m 40s	$617	—	150x
Short	Backpack S_USDC_PERP	0.04010	0.0298	get 0.0037% / 1h	6m 40s	$117K	$324K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee BackpackbpOrdersPrice spread, now +0.210%Rate

Funding earned: $62.41
Price spread: +0.210% → 0.000%: $20.97
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: $63.37
Costs to cover: 0.200%
Break-even: from the start

Slippage unknown: gTrade (Gains Network): no order-book sample; Backpack: live order book, 2 min ago. 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell Backpack live order book, 2 min ago	12.45 bp	26.9 bp −$27	doesn't fit	doesn't fit	doesn't fit

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	−0.2019%	1h	0.04001	−0.017%	$34K	$23K	10x	as long as short
01 Exchange SUSD	−0.1688%	1h	0.04000	−0.040%	$25K	$2K	5x	as long as short
Coinbase International S-PERP-INTX	−0.1240%	1h	0.03959	−1.065%	$49K	$5K	25x	as long as short
Variational Omni S	−0.0682%	4h	0.03997	−0.119%	$621K	$31K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.04002	0.000%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03999	−0.056%	$4	—	15x	as long as short
gTrade (Gains Network) S/USDlong	L +0.0001% / S +0.0006%	1h	0.04002	long leg	$617	—	150x
Orderly PERP_S_USDC	+0.0027%	4h	0.04001	−0.015%	$102K	$331K	10x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+2.459%	$2K	$37K	12x	as long as short
Lighter S	+0.0096%	1h	0.04005	+0.085%	$164K	$192K	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	0.04001	−0.023%	$1.0M	$621K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04003	+0.035%	$44K	$141K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.03995	−0.153%	$5.5M	$15.7M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03990	−0.290%	$5.7M	$4.9M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.03994	−0.190%	$981K	$4.5M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.03998	−0.090%	$326K	$218K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03997	−0.115%	$3.6M	$1.9M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.04002	+0.010%	$1.9M	$2.9M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.04003	+0.035%	$1.2M	$2.4M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.04000	−0.040%	—	$6.7M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.04010	+0.210%	$26K	$446K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.04000	−0.052%	$224K	$1.1M	10x	as long as short
Backpack S_USDC_PERPshort	+0.0298%	1h	0.04010	+0.210%	$117K	$324K	5x
BloFin S-USDT	+0.0340%	4h	0.04006	+0.110%	$271K	$127K	75x	as long as short
Deribit S_USDC-PERPETUAL	+0.0500%	1h	0.04005	+0.085%	$67K	$10K	10x	as long as short