Funding you earn now, next payment 04:00 UTC+1.0290%/8h= +1126.7% APRnext payment +$12.86 per $10,000 · paid last 24h +2.299%
Price spread now: Backpack against 01 Exchange+2.778%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
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 for this trade now. Funding pays +$309 a day on $10k at the current rate, and Backpack is 2.778% dearer against 01 Exchange than usual: you sell high and buy low: +$278 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 | 01 Exchange SUSD | 0.03960 | −0.9688 | get 0.1211% / 1h | 49m 04s | $25K | $2K | 5x |
| Short | Backpack S_USDC_PERP | 0.04070 | 0.0602 | get 0.0075% / 1h | 49m 04s | $118K | $395K | 5x |
01 Exchange SUSD
Backpack S_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against 01 Exchange. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $2,160.86
- Price spread: +2.778% → 0.000%
- $277.78
- Slippage, 4 orders
- no order book: not counted
- Fee 01 Exchange: 3.5 bp × 2 orders
- −$7
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $2,421.64
- Costs to cover
- 0.170%
- Break-even
- from the start
Slippage unknown: 01 Exchange: no order-book sample; Backpack: live order book, 10 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 01 Exchange no order-book sample | — | — | — | — | — |
| Sell Backpack live order book, 10 min ago | 12.15 bp | 24.7 bp −$25 | doesn't fit | doesn't fit | doesn't fit |
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 SUSDlong | −0.9688% | 1h | 0.03960 | long leg | $25K | $2K | 5x | |
| Kraken Futures PF_SUSD | −0.2518% | 1h | 0.04055 | +2.399% | $34K | $13K | 10x | as long as short |
| Coinbase International S-PERP-INTX | −0.1376% | 1h | 0.04022 | +1.566% | $48K | $16K | 25x | as long as short |
| GMX S/USD [WBTC.b-USDC] | L −0.0206% / S +0.0198% | 1h | 0.04063 | +2.598% | $1K | — | 100x | as long as short |
| Reya SRUSDPERP | −0.0101% | 1h | 0.04061 | +2.553% | $4 | — | 15x | as long as short |
| Variational Omni S | −0.0101% | 4h | 0.04080 | +3.025% | $633K | $31K | — | as long as short |
| Deribit S_USDC-PERPETUAL | 0.0000% | 1h | 0.04065 | +2.652% | $68K | $10K | 10x | as long as short |
| gTrade (Gains Network) S/USD | L +0.0001% / S +0.0006% | 1h | 0.04064 | +2.624% | $3K | — | 150x | as long as short |
| Injective S/USDC PERP | +0.0033% | 1h | 0.04100 | +3.535% | $2K | $37K | 12x | as long as short |
| Orderly PERP_S_USDC | +0.0058% | 4h | 0.04059 | +2.500% | $101K | $307K | 10x | as long as short |
Kraken Futures PF_SUSD
Coinbase International S-PERP-INTX
GMX S/USD [WBTC.b-USDC]
Reya SRUSDPERP
Variational Omni S
Deribit S_USDC-PERPETUAL
gTrade (Gains Network) S/USD
Injective S/USDC PERP
Orderly PERP_S_USDCShow all 25 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter S | +0.0096% | 1h | 0.04063 | +2.601% | $171K | $154K | 5x | as long as short |
| Hyperliquid S | +0.0100% | 1h | 0.04060 | +2.515% | $1.0M | $549K | 5x | as long as short |
| Aster SUSDT | +0.0100% | 4h | 0.04063 | +2.612% | $44K | $130K | 10x | as long as short |
| Binance SUSDT | +0.0100% | 4h | 0.04059 | +2.498% | $5.6M | $13.7M | 75x | as long as short |
| Bybit SUSDT | +0.0100% | 4h | 0.04054 | +2.374% | $5.8M | $4.6M | 50x | as long as short |
| OKX S-USDT-SWAP | +0.0100% | 4h | 0.04062 | +2.576% | $1.1M | $3.9M | 20x | as long as short |
| Gate S_USDT | +0.0100% | 4h | 0.04061 | +2.551% | $333K | $187K | 50x | as long as short |
| MEXC S_USDT | +0.0100% | 4h | 0.04059 | +2.500% | $3.9M | $1.7M | 200x | as long as short |
| KuCoin SUSDTM | +0.0100% | 4h | 0.04061 | +2.551% | $1.9M | $2.7M | 50x | as long as short |
| Bitget SUSDT | +0.0100% | 4h | 0.04064 | +2.626% | $1.2M | $2.2M | 50x | as long as short |
| BingX S-USDT | +0.0100% | 4h | 0.04056 | +2.424% | — | $6.8M | — | as long as short |
| ApeX Omni SUSDT | +0.0100% | 1h | 0.04080 | +3.030% | $25K | $453K | 50x | as long as short |
| Extended S-USD | +0.0104% | 1h | 0.04060 | +2.535% | $233K | $1.1M | 10x | as long as short |
| BloFin S-USDT | +0.0340% | 4h | 0.04058 | +2.475% | $282K | $98K | 75x | as long as short |
| Backpack S_USDC_PERPshort | +0.0602% | 1h | 0.04070 | +2.778% | $118K | $395K | 5x |
Lighter S
Hyperliquid S
Aster SUSDT
Binance SUSDT
Bybit SUSDT
OKX S-USDT-SWAP
Gate S_USDT
MEXC S_USDT
KuCoin SUSDTM
Bitget SUSDT
BingX S-USDT
ApeX Omni SUSDT
Extended S-USD
BloFin S-USDT