Funding you earn now, next payment 23:00 UTC−0.0100%/8h= −10.9% APRnext payment −$0.13 per $10,000 · paid last 24h −0.029%
Price spread now: Deribit against Backpack+0.032%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 5 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
The price spread pays, funding is against you. Deribit is 0.032% dearer against Backpack than usual: you sell high and buy low (spread +0.032% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 26 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack TIA_USDC_PERP | 0.4330 | 0.0100 | pay 0.0013% / 1h | 26m 54s | $100K | $149K | 10x |
| Short | Deribit TIA_USDC-PERPETUAL | 0.4331 | 0 | get 0.0000% / 1h | 26m 54s | $30K | $27K | 25x |
Backpack TIA_USDC_PERP
Deribit TIA_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against Backpack. 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
- −$21
- Price spread: +0.032% → 0.000%
- $3.23
- Slippage, 4 orders
- no order book: not counted
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$34.77
- Costs to cover
- 0.170%
- Break-even
- never at this rate
Slippage unknown: Backpack: live order book, 56 min ago; Deribit: 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, 56 min ago | 1.61 bp | 12.5 bp −$13 | doesn't fit | doesn't fit | doesn't fit |
| Sell Deribit no order-book sample | — | — | — | — | — |
Deribit: 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.
TIA on 27 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_TIAUSD | −0.0228% | 1h | 0.4333 | +0.086% | $354K | $242K | 50x | as long as short |
| OKX TIA-USDT-SWAP | −0.0091% | 4h | 0.4324 | −0.129% | $2.7M | $5.9M | 50x | as long as short |
| Gate TIA_USDT | −0.0044% | 4h | 0.4326 | −0.083% | $994K | $1.8M | 75x | as long as short |
| KuCoin TIAUSDTM | −0.0042% | 4h | 0.4325 | −0.106% | $4.2M | $8.6M | 50x | as long as short |
| Deribit TIA_USDC-PERPETUALshort | 0.0000% | 1h | 0.4331 | +0.032% | $30K | $27K | 25x | |
| gTrade (Gains Network) TIA/USD | L +0.0002% / S 0.0000% | 1h | 0.4331 | +0.039% | $1K | — | 150x | as long as short |
| ApeX Omni TIAUSDT | +0.0062% | 1h | 0.4330 | +0.009% | $49K | $236K | 50x | as long as short |
| Variational Omni TIA | +0.0095% | 4h | 0.4324 | −0.130% | $101K | $84K | — | as long as short |
| Lighter TIA | +0.0096% | 1h | 0.4334 | +0.092% | $128K | $351K | 10x | as long as short |
| Orderly PERP_TIA_USDC | +0.0097% | 4h | 0.4329 | −0.014% | $5K | $362K | 10x | as long as short |
Kraken Futures PF_TIAUSD
OKX TIA-USDT-SWAP
Gate TIA_USDT
KuCoin TIAUSDTM
gTrade (Gains Network) TIA/USD
ApeX Omni TIAUSDT
Variational Omni TIA
Lighter TIA
Orderly PERP_TIA_USDCShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid TIA | +0.0100% | 1h | 0.4335 | +0.118% | $4.2M | $1.5M | 5x | as long as short |
| Aster TIAUSDT | +0.0100% | 4h | 0.4329 | −0.005% | $35K | $267K | 10x | as long as short |
| Binance TIAUSDT | +0.0100% | 4h | 0.4328 | −0.042% | $14.6M | $41.9M | 75x | as long as short |
| Bybit TIAUSDT | +0.0100% | 4h | 0.4325 | −0.106% | $9.5M | $13.2M | 50x | as long as short |
| MEXC TIA_USDT | +0.0100% | 4h | 0.4330 | +0.009% | $14.0M | $6.7M | 300x | as long as short |
| Bitget TIAUSDT | +0.0100% | 4h | 0.4326 | −0.083% | $4.5M | $3.5M | 75x | as long as short |
| BingX TIA-USDC | +0.0100% | 4h | 0.4327 | −0.060% | — | $6.5M | — | as long as short |
| Backpack TIA_USDC_PERPlong | +0.0100% | 1h | 0.4330 | long leg | $100K | $149K | 10x | |
| HTX TIA-USDT | +0.0100% | 4h | 0.4334 | +0.102% | $65K | $42K | 50x | as long as short |
| Extended TIA-USD | +0.0104% | 1h | 0.4327 | −0.060% | $57K | $170K | 25x | as long as short |
| Aevo TIA-PERP | +0.0104% | 1h | 0.4331 | +0.044% | $7K | — | 3x | as long as short |
| Injective TIA/USDC PERP | +0.0106% | 1h | 0.4333 | +0.079% | $26K | $10K | 12x | as long as short |
| Reya TIARUSDPERP | +0.0179% | 1h | 0.4325 | −0.106% | $6K | — | 15x | as long as short |
| Coinbase International TIA-PERP-INTX | +0.0216% | 1h | 0.4339 | +0.217% | $47K | $74K | 50x | as long as short |
| BloFin TIA-USDT | +0.0340% | 4h | 0.4327 | −0.060% | $1.1M | $556K | 75x | as long as short |
| GMX TIA/USD [ETH-USDC] | L +0.0457% / S −0.3505% | 1h | 0.4331 | +0.033% | $35K | — | 100x | as long as short |
| dYdX TIA-USD | +0.0701% | 1h | 0.4329 | −0.005% | $51K | $59 | 10x | as long as short |
Hyperliquid TIA
Aster TIAUSDT
Binance TIAUSDT
Bybit TIAUSDT
MEXC TIA_USDT
Bitget TIAUSDT
BingX TIA-USDC
HTX TIA-USDT
Extended TIA-USD
Aevo TIA-PERP
Injective TIA/USDC PERP
Reya TIARUSDPERP
Coinbase International TIA-PERP-INTX
BloFin TIA-USDT
GMX TIA/USD [ETH-USDC]
dYdX TIA-USD