Funding arb · Price arb /

TIA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.062%

Price spread now: Bitget 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 Bitget

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. Bitget 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	0.4340	0	get 0.0000% / 1h	18m 50s	$30K	$27K	25x
Short	Bitget TIAUSDT	0.4339	0.0100	get 0.0050% / 4h	1h 18m	$4.5M	$3.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.023%Rate

Funding earned: $21
Price spread: −0.023% → 0.000%: −$2.3
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$0.3
Costs to cover: 0.190%
Break-even: 7.1 days

Slippage unknown: Deribit: no order-book sample; Bitget: live order book, 4 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 Bitget live order book, 4 min ago	2.31 bp	15.7 bp −$16	37.9 bp −$379	doesn't fit	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
Kraken Futures PF_TIAUSD	−0.0228%	1h	0.4339	−0.026%	$355K	$242K	50x	as long as short
OKX TIA-USDT-SWAP	−0.0115%	4h	0.4332	−0.184%	$2.7M	$5.9M	50x	as long as short
KuCoin TIAUSDTM	−0.0030%	4h	0.4336	−0.092%	$4.2M	$8.6M	50x	as long as short
Gate TIA_USDT	−0.0020%	4h	0.4336	−0.092%	$996K	$1.8M	75x	as long as short
Deribit TIA_USDC-PERPETUALlong	0.0000%	1h	0.4340	long leg	$30K	$27K	25x
gTrade (Gains Network) TIA/USD	L +0.0002% / S 0.0000%	1h	0.4343	+0.073%	$1K	—	150x	as long as short
ApeX Omni TIAUSDT	+0.0008%	1h	0.4337	−0.069%	$49K	$236K	50x	as long as short
Lighter TIA	+0.0096%	1h	0.4342	+0.053%	$128K	$351K	10x	as long as short
Orderly PERP_TIA_USDC	+0.0097%	4h	0.4340	0.000%	$5K	$362K	10x	as long as short
Hyperliquid TIA	+0.0100%	1h	0.4342	+0.051%	$4.2M	$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	0.4338	−0.044%	$35K	$267K	10x	as long as short
Binance TIAUSDT	+0.0100%	4h	0.4336	−0.103%	$14.6M	$42.1M	75x	as long as short
Bybit TIAUSDT	+0.0100%	4h	0.4334	−0.138%	$9.5M	$13.2M	50x	as long as short
MEXC TIA_USDT	+0.0100%	4h	0.4337	−0.069%	$14.1M	$6.8M	300x	as long as short
Bitget TIAUSDTshort	+0.0100%	4h	0.4339	−0.023%	$4.5M	$3.5M	75x
BingX TIA-USDT	+0.0100%	4h	0.4336	−0.092%	—	$99.0M	—	as long as short
Backpack TIA_USDC_PERP	+0.0100%	1h	0.4339	−0.016%	$100K	$150K	10x	as long as short
Variational Omni TIA	+0.0100%	4h	0.4337	−0.059%	$101K	$84K	—	as long as short
HTX TIA-USDT	+0.0100%	4h	0.4338	−0.046%	$65K	$42K	50x	as long as short
Extended TIA-USD	+0.0104%	1h	0.4333	−0.152%	$57K	$168K	25x	as long as short
Aevo TIA-PERP	+0.0104%	1h	0.4338	−0.049%	$7K	—	3x	as long as short
Injective TIA/USDC PERP	+0.0106%	1h	0.4333	−0.161%	$26K	$10K	12x	as long as short
Reya TIARUSDPERP	+0.0179%	1h	0.4338	−0.046%	$6K	—	15x	as long as short
Coinbase International TIA-PERP-INTX	+0.0216%	1h	0.4344	+0.092%	$47K	$74K	50x	as long as short
BloFin TIA-USDT	+0.0340%	4h	0.4339	−0.023%	$1.1M	$557K	75x	as long as short
GMX TIA/USD [ETH-USDC]	L +0.0457% / S −0.3505%	1h	0.4343	+0.065%	$35K	—	100x	as long as short
dYdX TIA-USD	+0.0704%	1h	0.4343	+0.079%	$52K	$59	10x	as long as short