Spread before costs (cost unknown: a leg has no order-book sample)−0.214%
7d average—if it closes, per $10,000$21funding while held, a day+$0.00
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack W_USDC_PERP | 0.01171 | 0.0100 | pay 0.0013% / 1h | 37m 40s | $37K | $48K | 15x |
| Short | Gate W_USDT | 0.01168 | 0.0100 | get 0.0050% / 4h | 2h 37m | $440K | $331K | 75x |
Backpack W_USDC_PERP
Gate W_USDTPrice 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
- −$21.35
- Funding while held
- $0
- Slippage, 4 orders
- no order book: not counted
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Net
- −$46.35
- Spread needed to break even
- 0.250%
Slippage unknown: Backpack: no order-book sample; Gate: live order book, 65 min ago. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- 0.0000%
- Per $10,000 a day
- +$0.00
- 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 Gate live order book, 65 min ago | 7.19 bp | 223.3 bp −$223 | doesn't fit | doesn't fit | doesn't fit |
Backpack: 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 Omni0.01167cheapestBingX0.01168+0.106%Bybit0.01168+0.115%OKX0.01168+0.132%
Variational Omni
BingX
Bybit
OKXGate0.01168+0.149%
KuCoin0.01169+0.200%Binance0.01170+0.265%Hyperliquid0.01170+0.286%MEXC0.01170+0.286%Bitget0.01170+0.286%Extended0.01170+0.289%Coinbase International0.01170+0.295%Deribit0.01170+0.303%
KuCoin
Binance
Hyperliquid
MEXC
Bitget
Extended
Coinbase International
DeribitBackpack0.01171+0.363%
Kraken Futures0.01172+0.474%Injective0.01209+3.629%
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 | −0.362% | +0.0100% | 4h | $82K | $30K | — | as long as short |
| BingX W-USDT | −0.256% | +0.0100% | 4h | — | $7.0M | — | as long as short |
| Bybit WUSDT | −0.248% | +0.0100% | 4h | $4.1M | $2.4M | 50x | as long as short |
| OKX W-USDT-SWAP | −0.231% | +0.0100% | 4h | $1.3M | $2.4M | 20x | as long as short |
| Gate W_USDTshort | −0.214% | +0.0100% | 4h | $440K | $331K | 75x | |
| KuCoin WUSDTM | −0.162% | +0.0100% | 4h | $410K | $256K | 50x | as long as short |
| Binance WUSDT | −0.098% | +0.0100% | 4h | $3.0M | $8.6M | 50x | as long as short |
| Hyperliquid W | −0.077% | +0.0100% | 1h | $2.0M | $628K | 5x | as long as short |
| MEXC W_USDT | −0.077% | +0.0100% | 4h | $11.6M | $1.4M | 50x | as long as short |
| Bitget WUSDT | −0.077% | +0.0100% | 4h | $1.2M | $618K | 50x | as long as short |
Show all 16 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Extended W-USD | −0.074% | +0.0104% | 1h | $59K | $276K | 5x | as long as short |
| Coinbase International W-PERP-INTX | −0.068% | +0.0088% | 1h | $14K | $22K | 50x | as long as short |
| Deribit W_USDC-PERPETUAL | −0.060% | −0.0177% | 1h | $18K | $351 | 10x | as long as short |
| Backpack W_USDC_PERPlong | 0.000% | +0.0100% | 1h | $37K | $48K | 15x | |
| Kraken Futures PF_WUSD | +0.110% | +0.1502% | 1h | $146K | $193K | 20x | as long as short |
| Injective W/USDC PERP | +3.254% | +0.0033% | 1h | $1K | $23K | 12x | as long as short |