Funding arb · Price arb /

TIA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.049%

Price spread now: Binance against Deribit−0.023%7-day average — · you buy dearer than you sell

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

Long on Deribit Short on Binance

What this pair did over the last

the charts below follow

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

Funding pays, the price is against you. Binance is 0.023% cheaper against Deribit than usual: you would sell low and buy high (spread −0.023% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$2 on $10k: about 18 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit TIA_USDC-PERPETUAL	0.4440	0	get 0.0000% / 1h	18m 13s	$31K	$25K	25x
Short	Binance TIAUSDT	0.4439	0.0100	get 0.0050% / 4h	18m 13s	$14.1M	$48.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Deribit. 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 DeribitbpFee BinancebpOrdersPrice spread, now −0.023%Rate

Funding earned: $21
Price spread: −0.023% → 0.000%: −$2.25
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Binance: 5 bp × 2 orders: −$10
Net: $1.75
Costs to cover: 0.170%
Break-even: 6.4 days

Slippage unknown: Deribit: no order-book sample; Binance: live order book, 9 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 Deribit no order-book sample	—	—	—	—	—
Sell Binance live order book, 9 min ago	1.13 bp	11.4 bp −$11	25.2 bp −$252	109.9 bp −$11.0K	doesn't fit

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
GMX TIA/USD [ETH-USDC]	L −0.0895% / S +0.0081%	1h	0.4438	−0.043%	$6K	—	100x	as long as short
ApeX Omni TIAUSDT	−0.0129%	1h	0.4420	−0.450%	$51K	$225K	50x	as long as short
Kraken Futures PF_TIAUSD	−0.0007%	1h	0.4437	−0.075%	$349K	$205K	50x	as long as short
Deribit TIA_USDC-PERPETUALlong	0.0000%	1h	0.4440	long leg	$31K	$25K	25x
gTrade (Gains Network) TIA/USD	L +0.0002% / S 0.0000%	1h	0.4438	−0.045%	$1K	—	150x	as long as short
Injective TIA/USDC PERP	+0.0014%	1h	0.4428	−0.270%	$24K	$12K	12x	as long as short
OKX TIA-USDT-SWAP	+0.0047%	4h	0.4435	−0.113%	$2.8M	$6.7M	50x	as long as short
Lighter TIA	+0.0096%	1h	0.4442	+0.054%	$153K	$424K	10x	as long as short
Orderly PERP_TIA_USDC	+0.0099%	4h	0.4438	−0.045%	$7K	$232K	10x	as long as short
Hyperliquid TIA	+0.0100%	1h	0.4443	+0.072%	$4.8M	$1.5M	5x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster TIAUSDT	+0.0100%	4h	0.4437	−0.058%	$33K	$247K	10x	as long as short
Binance TIAUSDTshort	+0.0100%	4h	0.4439	−0.023%	$14.1M	$48.2M	75x
Bybit TIAUSDT	+0.0100%	4h	0.4438	−0.045%	$10.1M	$14.0M	50x	as long as short
Gate TIA_USDT	+0.0100%	4h	0.4437	−0.068%	$1.0M	$1.9M	75x	as long as short
MEXC TIA_USDT	+0.0100%	4h	0.4439	−0.023%	$12.5M	$14.1M	300x	as long as short
KuCoin TIAUSDTM	+0.0100%	4h	0.4436	−0.090%	$4.2M	$10.0M	50x	as long as short
Bitget TIAUSDT	+0.0100%	4h	0.4436	−0.090%	$4.4M	$4.1M	75x	as long as short
BingX TIA-USDC	+0.0100%	4h	0.4437	−0.068%	—	$6.5M	—	as long as short
Backpack TIA_USDC_PERP	+0.0100%	1h	0.4440	−0.011%	$103K	$174K	10x	as long as short
Variational Omni TIA	+0.0100%	4h	0.4423	−0.389%	$135K	$78K	—	as long as short
HTX TIA-USDT	+0.0100%	4h	0.4434	−0.135%	$59K	$74K	50x	as long as short
Extended TIA-USD	+0.0104%	1h	0.4436	−0.087%	$57K	$210K	25x	as long as short
Aevo TIA-PERP	+0.0104%	1h	0.4438	−0.045%	$7K	—	3x	as long as short
Reya TIARUSDPERP	+0.0182%	1h	0.4433	−0.149%	$6K	—	15x	as long as short
dYdX TIA-USD	+0.0228%	1h	0.4437	−0.064%	$53K	$139	10x	as long as short
BloFin TIA-USDT	+0.0340%	4h	0.4430	−0.225%	$1.7M	$715K	75x	as long as short
Coinbase International TIA-PERP-INTX	+0.0432%	1h	0.4443	+0.068%	$52K	$103K	50x	as long as short