Funding arb · Price arb /

TIA

all TIA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.017%

Price spread now: Binance against Backpack+0.007%7-day average +0.029% · you sell dearer than you buy

Net, funding: paid 7d − costs−$48as in the Funding arb table

Net, price: spread back to 7d avg − costs−$52as in the Price arb table

costs, in and out, $10k−$500.496% of the position

Long on Backpack Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.012%+$1 on $10k

Price spread, last 4 days (all we have)+0.179%+$18 · spread now +0.007%, 7d avg +0.029%

Together, before fees+0.191%+$19 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Binance is 0.022% cheaper against Backpack than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of +0.029%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack TIA_USDC_PERP	0.4401	0.0100	pay 0.0013% / 1h	21m 01s	$102K	$177K	10x
Short	Binance TIAUSDT	0.4401	0.0100	get 0.0050% / 4h	2h 21m	$14.1M	$50.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.007%Rate

Funding earned: $0
Price spread: +0.007% → +0.029%: −$2.24
Slippage, 4 orders: −$29.6
Fee Backpack: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$51.84
Costs to cover: 0.496%
Break-even: never at this rate

Slippage from Backpack: live order book, 30 min ago; Binance: live order book, 14 min ago.

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, 30 min ago	1.25 bp	17.0 bp −$17	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 14 min ago	1.14 bp	10.3 bp −$10	19.7 bp −$197	102.7 bp −$10.3K	doesn't fit

TIA on 27 exchanges

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
GMX TIA/USD [ETH-USDC]	L −0.4075% / S +0.0184%	1h	0.4401	−0.003%	$5K	—	100x	as long as short
Bybit TIAUSDT	−0.0264%	4h	0.4396	−0.107%	$9.7M	$14.9M	50x	as long as short
ApeX Omni TIAUSDT	−0.0225%	1h	0.4396	−0.107%	$51K	$223K	50x	as long as short
Kraken Futures PF_TIAUSD	−0.0170%	1h	0.4403	+0.047%	$369K	$221K	50x	as long as short
Deribit TIA_USDC-PERPETUAL	0.0000%	1h	0.4400	−0.016%	$33K	$22K	25x	as long as short
gTrade (Gains Network) TIA/USD	L +0.0002% / S 0.0000%	1h	0.4401	0.000%	$1K	—	150x	as long as short
dYdX TIA-USD	+0.0026%	1h	0.4401	+0.010%	$52K	$139	10x	as long as short
Injective TIA/USDC PERP	+0.0079%	1h	0.4400	−0.016%	$78K	$158K	12x	as long as short
Lighter TIA	+0.0096%	1h	0.4406	+0.123%	$192K	$442K	10x	as long as short
Orderly PERP_TIA_USDC	+0.0098%	4h	0.4399	−0.039%	$7K	$193K	10x	as long as short

Show all 27 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid TIA	+0.0100%	1h	0.4406	+0.118%	$4.7M	$1.5M	5x	as long as short
Aster TIAUSDT	+0.0100%	4h	0.4398	−0.070%	$32K	$247K	10x	as long as short
Binance TIAUSDTshort	+0.0100%	4h	0.4401	+0.007%	$14.1M	$50.1M	75x
OKX TIA-USDT-SWAP	+0.0100%	4h	0.4397	−0.084%	$2.7M	$7.0M	50x	as long as short
Gate TIA_USDT	+0.0100%	4h	0.4402	+0.030%	$1.0M	$1.8M	75x	as long as short
MEXC TIA_USDT	+0.0100%	4h	0.4400	−0.016%	$10.5M	$14.7M	300x	as long as short
KuCoin TIAUSDTM	+0.0100%	4h	0.4399	−0.039%	$4.2M	$10.4M	50x	as long as short
Bitget TIAUSDT	+0.0100%	4h	0.4396	−0.107%	$4.5M	$4.3M	75x	as long as short
BingX TIA-USDT	+0.0100%	4h	0.4398	−0.061%	—	$14.7M	—	as long as short
Backpack TIA_USDC_PERPlong	+0.0100%	1h	0.4401	long leg	$102K	$177K	10x
Variational Omni TIA	+0.0100%	4h	0.4389	−0.275%	$102K	$99K	—	as long as short
HTX TIA-USDT	+0.0100%	4h	0.4402	+0.030%	$59K	$77K	50x	as long as short
Extended TIA-USD	+0.0104%	1h	0.4394	−0.148%	$55K	$211K	25x	as long as short
Aevo TIA-PERP	+0.0104%	1h	0.4399	−0.036%	$7K	—	3x	as long as short
Reya TIARUSDPERP	+0.0182%	1h	0.4398	−0.052%	$6K	—	15x	as long as short
BloFin TIA-USDT	+0.0340%	4h	0.4399	−0.039%	$1.6M	$755K	75x	as long as short
Coinbase International TIA-PERP-INTX	+0.0408%	1h	0.4415	+0.325%	$55K	$107K	50x	as long as short