Spread before costs (cost unknown: a leg has no order-book sample)+0.043%
7d average—if it closes, per $10,000$4funding while held, a day−$2.28
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack W_USDC_PERP | 0.01167 | 0.0100 | pay 0.0013% / 1h | 55m 40s | $39K | $49K | 15x |
| Short | Coinbase International W-PERP-INTX | 0.01167 | 0.0024 | get 0.0003% / 1h | 55m 40s | $14K | $22K | 50x |
Backpack W_USDC_PERP
Coinbase International W-PERP-INTXPrice spread history
latest
Range statsloading…
How often the spread is this wide
share of time at each level, last 7DBacktest
opened in the past, held until now, after costsProfit calculator
- Spread captured
- $4.29
- Funding while held
- −$2.28
- Slippage, 4 orders
- no order book: not counted
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$17.99
- Spread needed to break even
- 0.200%
Slippage unknown: Backpack: no order-book sample; Coinbase International: no order-book sample. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- −0.0076%
- Per $10,000 a day
- −$2.28
- Average in range /8h
- —
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 no order-book sample | — | — | — | — | — |
| Sell Coinbase International no order-book sample | — | — | — | — | — |
Backpack and Coinbase International: 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.
W price on every exchange
against the cheapest. Click to use as the short leg.Variational Omni0.01159cheapestKuCoin0.01164+0.422%Bybit0.01165+0.474%Gate0.01165+0.491%Hyperliquid0.01165+0.508%Extended0.01166+0.576%Binance0.01166+0.577%Deribit0.01166+0.577%Bitget0.01166+0.594%OKX0.01167+0.638%BingX0.01167+0.646%
Variational Omni
KuCoin
Bybit
Gate
Hyperliquid
Extended
Binance
Deribit
Bitget
OKX
BingXBackpack0.01167+0.655%
MEXC0.01167+0.663%
MEXCCoinbase International0.01167+0.698%
Kraken Futures0.01168+0.793%Injective0.01209+4.304%
Kraken Futures
InjectiveW on 16 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Variational Omni W | −0.651% | +0.0100% | 4h | $70K | $42K | — | as long as short |
| KuCoin WUSDTM | −0.231% | +0.0100% | 4h | $407K | $247K | 50x | as long as short |
| Bybit WUSDT | −0.180% | +0.0100% | 4h | $4.0M | $2.4M | 50x | as long as short |
| Gate W_USDT | −0.163% | +0.0100% | 4h | $441K | $323K | 75x | as long as short |
| Hyperliquid W | −0.146% | +0.0100% | 1h | $2.0M | $625K | 5x | as long as short |
| Extended W-USD | −0.079% | +0.0104% | 1h | $58K | $276K | 5x | as long as short |
| Binance WUSDT | −0.077% | +0.0100% | 4h | $2.9M | $8.5M | 50x | as long as short |
| Deribit W_USDC-PERPETUAL | −0.077% | −0.0436% | 1h | $18K | $351 | 10x | as long as short |
| Bitget WUSDT | −0.060% | +0.0100% | 4h | $1.2M | $597K | 50x | as long as short |
| OKX W-USDT-SWAP | −0.017% | +0.0100% | 4h | $1.3M | $2.4M | 20x | as long as short |
Show all 16 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| BingX W-USDT | −0.009% | +0.0100% | 4h | — | $7.0M | — | as long as short |
| Backpack W_USDC_PERPlong | 0.000% | +0.0100% | 1h | $39K | $49K | 15x | |
| MEXC W_USDT | +0.009% | +0.0100% | 4h | $11.6M | $1.3M | 50x | as long as short |
| Coinbase International W-PERP-INTXshort | +0.043% | +0.0024% | 1h | $14K | $22K | 50x | |
| Kraken Futures PF_WUSD | +0.137% | +0.0904% | 1h | $145K | $193K | 20x | as long as short |
| Injective W/USDC PERP | +3.626% | +0.0033% | 1h | $1K | $23K | 12x | as long as short |