Funding you earn now, next payment 01:00 UTC−0.0082%/8h= −9.0% APRnext payment −$0.10 per $10,000 · paid last 24h +0.002%
Price spread now: Backpack against Injective−0.164%72s7-day average — · you buy dearer than you sell
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 against this trade now: funding costs −$2 a day on $10k at the current rate, and Backpack is 0.164% cheaper against Injective than usual: you would sell low and buy high (−$16 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 72 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Injective TIA/USDC PERP | 0.4381 | 0.0117 | pay 0.0015% / 1h | 56m 10s | $27K | $10K | 12x |
| Short | Backpack TIA_USDC_PERP | 0.4374 | 0.0035 | get 0.0004% / 1h | 56m 10s | $104K | $154K | 10x |
Injective TIA/USDC PERP
Backpack TIA_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Injective. 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
- −$17.2
- Price spread: −0.164% → 0.000%
- −$16.43
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$43.65
- Costs to cover
- 0.100%
- Break-even
- never at this rate
Slippage unknown: Injective: no order-book sample; Backpack: live order book, 17 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 Injective no order-book sample | — | — | — | — | — |
| Sell Backpack live order book, 17 min ago | 1.15 bp | 12.6 bp −$13 | doesn't fit | doesn't fit | doesn't fit |
Injective: 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 | |
|---|---|---|---|---|---|---|---|---|
| Bybit TIAUSDT | −0.0381% | 4h | 0.4371 | −0.228% | $9.6M | $13.1M | 50x | as long as short |
| OKX TIA-USDT-SWAP | −0.0210% | 4h | 0.4371 | −0.228% | $2.8M | $6.1M | 50x | as long as short |
| Kraken Futures PF_TIAUSD | −0.0153% | 1h | 0.4375 | −0.138% | $360K | $247K | 50x | as long as short |
| KuCoin TIAUSDTM | −0.0054% | 4h | 0.4370 | −0.251% | $4.2M | $8.8M | 50x | as long as short |
| Deribit TIA_USDC-PERPETUAL | 0.0000% | 1h | 0.4373 | −0.183% | $30K | $27K | 25x | as long as short |
| gTrade (Gains Network) TIA/USD | L +0.0002% / S 0.0000% | 1h | 0.4374 | −0.154% | $1K | — | 150x | as long as short |
| Backpack TIA_USDC_PERPshort | +0.0035% | 1h | 0.4374 | −0.164% | $104K | $154K | 10x | |
| ApeX Omni TIAUSDT | +0.0072% | 1h | 0.4384 | +0.068% | $49K | $234K | 50x | as long as short |
| Lighter TIA | +0.0096% | 1h | 0.4379 | −0.050% | $139K | $359K | 10x | as long as short |
| Orderly PERP_TIA_USDC | +0.0098% | 4h | 0.4372 | −0.205% | $5K | $364K | 10x | as long as short |
Bybit TIAUSDT
OKX TIA-USDT-SWAP
Kraken Futures PF_TIAUSD
KuCoin TIAUSDTM
Deribit TIA_USDC-PERPETUAL
gTrade (Gains Network) TIA/USD
ApeX Omni TIAUSDT
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 | 0.4380 | −0.018% | $4.5M | $1.6M | 5x | as long as short |
| Aster TIAUSDT | +0.0100% | 4h | 0.4371 | −0.229% | $34K | $268K | 10x | as long as short |
| Binance TIAUSDT | +0.0100% | 4h | 0.4374 | −0.160% | $14.6M | $41.9M | 75x | as long as short |
| Gate TIA_USDT | +0.0100% | 4h | 0.4373 | −0.183% | $982K | $1.8M | 75x | as long as short |
| MEXC TIA_USDT | +0.0100% | 4h | 0.4374 | −0.160% | $13.3M | $6.7M | 300x | as long as short |
| Bitget TIAUSDT | +0.0100% | 4h | 0.4372 | −0.205% | $4.5M | $3.4M | 75x | as long as short |
| BingX TIA-USDT | +0.0100% | 4h | 0.4371 | −0.228% | — | $99.1M | — | as long as short |
| Variational Omni TIA | +0.0100% | 4h | 0.4372 | −0.207% | $102K | $84K | — | as long as short |
| HTX TIA-USDT | +0.0100% | 4h | 0.4372 | −0.205% | $58K | $68K | 50x | as long as short |
| Extended TIA-USD | +0.0104% | 1h | 0.4369 | −0.270% | $56K | $169K | 25x | as long as short |
| Aevo TIA-PERP | +0.0104% | 1h | 0.4376 | −0.104% | $7K | — | 3x | as long as short |
| Injective TIA/USDC PERPlong | +0.0117% | 1h | 0.4381 | long leg | $27K | $10K | 12x | |
| Reya TIARUSDPERP | +0.0179% | 1h | 0.4367 | −0.309% | $6K | — | 15x | as long as short |
| Coinbase International TIA-PERP-INTX | +0.0256% | 1h | 0.4389 | +0.183% | $51K | $77K | 50x | as long as short |
| BloFin TIA-USDT | +0.0340% | 4h | 0.4370 | −0.251% | $1.2M | $577K | 75x | as long as short |
| GMX TIA/USD [ETH-USDC] | L +0.0460% / S −0.3505% | 1h | 0.4373 | −0.171% | $36K | — | 100x | as long as short |
| dYdX TIA-USD | +0.0546% | 1h | 0.4375 | −0.137% | $52K | $59 | 10x | as long as short |
Hyperliquid TIA
Aster TIAUSDT
Binance TIAUSDT
Gate TIA_USDT
MEXC TIA_USDT
Bitget TIAUSDT
BingX TIA-USDT
Variational Omni TIA
HTX TIA-USDT
Extended TIA-USD
Aevo TIA-PERP
Reya TIARUSDPERP
Coinbase International TIA-PERP-INTX
BloFin TIA-USDT
GMX TIA/USD [ETH-USDC]
dYdX TIA-USD