CoinGlass Alternative for Funding Rate Arbitrage (2026)

If you want a wide view of the derivatives market — open interest, liquidations, long/short data and funding across the big centralized exchanges — CoinGlass is a strong default. If you already know you want to run a funding-rate arbitrage trade and need to know what it costs to enter, how much size it takes and what it actually paid, ORBIT is built for that narrower job.

This is not a "CoinGlass is bad" article. CoinGlass does a lot that ORBIT does not try to do. The point here is to help you pick the right tool for the specific question you are asking, with facts we checked on 27 October 2026.

What CoinGlass is and what it does well

Broad derivatives analytics since 2019: open interest, liquidations, long/short data and funding heatmaps across major CEXs, in 13 languages.

CoinGlass has been around since 2019 and is widely used as a market-wide derivatives terminal. For funding specifically, these are the views we found on its funding pages during our check:

• Funding rate tables across exchanges, plus Highest and Lowest funding rate lists.
• Accumulated Funding Rate — the sum of funding over a period, not just the current print.
• OI-weighted and volume-weighted funding for BTC and ETH — one number for "what does the market as a whole pay".
• Funding Rate Heatmap — a fast way to see where funding is extreme across many coins and venues at once.
• A switch between USDT/USD-margined and token-margined contracts, and a predicted rate view.
• A funding-rate arbitrage page with two modes: spot against perp, and between exchanges. Its columns include Portfolio APR, Net Funding Rate, Spread Rate, open interest and settlement.
• A page per coin (for example the BTC funding page) with live data and history charts.

On top of that, CoinGlass is available in 13 languages: English, Chinese (simplified and traditional), Japanese, Korean, Vietnamese, Spanish, Turkish, Russian, German, Indonesian, French and Portuguese.

Where CoinGlass is better than ORBIT

We want to be direct about this, because it decides whether you should switch at all.

• Breadth of market data. Liquidations, long/short ratios and open-interest dashboards are core CoinGlass features. ORBIT is a funding and spread tool; it does not try to be a liquidation terminal.
• Market-wide funding aggregates. OI-weighted and volume-weighted funding for BTC and ETH, and the funding heatmap, answer "is the whole market paying longs or shorts right now?" in one glance. ORBIT shows funding per market and per pair, not a single weighted market rate.
• Spot versus perp arbitrage. The CoinGlass arbitrage page has a spot-against-perp mode. ORBIT focuses on perp-against-perp across venues.
• Track record and languages. Seven years in the market and 13 languages. ORBIT is younger and runs in English, Russian and Chinese.
• Margin type views. The USDT/USD-margined versus token-margined switch is useful if you trade coin-margined contracts.

Where ORBIT is different

A funding spread on a screen is a gross number. Between that number and your PnL sit the spread you cross on entry and exit, slippage when your order walks the book, taker fees on both legs, and whether the rate actually holds while you are in the trade. ORBIT is built around measuring those gaps. It is free and does not need an account.

Entry cost from the live order book

Execution Cost shows what it costs to enter a position on each venue at fixed sizes, priced by walking the live order book plus the taker fee. A venue advertising zero fees can still be expensive if its book is thin. In our 27 October 2026 check we did not find an entry-cost view of this kind on CoinGlass.

Backtests with costs taken from the book

The pair backtester replays a long-on-one-venue, short-on-another position over the period you choose. Funding comes from actual payments where the venue publishes them, and execution cost comes from the order book rather than a number you type in. The result is PnL after costs, not a headline APR. We did not find a pair backtest with costs on CoinGlass in our check.

Funding actually paid, by venue

Instant APR is a snapshot; settlements are what hit your account. ORBIT shows paid funding averages over 7, 30 and 90 days in the screener, and a per-coin breakdown of payments by exchange — for example BTC funding paid by venue. CoinGlass has a related idea in its Accumulated Funding Rate tab, so this is closer to a difference in presentation than a gap.

Capacity: how much money a setup takes

A 40% spread that only absorbs a few thousand dollars is a different trade from a 15% spread that takes a few hundred thousand. Size & Depth estimates how much a setup absorbs before slippage eats the edge, and what that means in dollars per year at your size.

CEX and perp DEX in one matrix

ORBIT tracks 56 exchanges, centralized and decentralized, in a single funding matrix. That matters because many of the widest funding spreads today sit between a large CEX and a perp DEX such as Hyperliquid, Lighter or Aster. CoinGlass is built around the major centralized exchanges.

Filters against phantom spreads

The widest numbers on any cross-venue screener are often not trades: two different tokens sharing a ticker, a contract quoted in thousands of units on one venue, or a delisted market whose price stopped moving. ORBIT filters these legs out or marks them, so the top of the list is closer to something you could actually open.

Points and airdrops

On perp DEXs, funding is often only half of the return. ORBIT has a points calculator and an airdrop calendar so you can see which venues in a setup are also farming a points program.

Feature comparison

How to read this table: "Not found in our check" means we did not find the feature on CoinGlass pages we opened on 27 October 2026. It does not mean CoinGlass definitely lacks it — products change, and some features may sit behind pages we did not review. "Yes" on the CoinGlass side is only set where we saw the feature ourselves.

The table is also deliberately narrow. It covers funding-arbitrage features only. Liquidations, long/short data and options are not in it, and on those CoinGlass is the deeper product. The same table lives on the ORBIT vs CoinGlass comparison page.

Venues tracked on ORBIT right now

The table below is live from our database: the largest venues we track by open interest, CEX and DEX together. It refreshes on every page load.

When to choose CoinGlass, when to choose ORBIT

Choose CoinGlass if you want to:

• Watch market-wide positioning: liquidations, open interest, long/short ratios.
• See a single weighted funding rate for BTC or ETH, or a heatmap across many coins.
• Look at spot-versus-perp funding arbitrage.
• Work in a language ORBIT does not cover, such as Korean, Vietnamese or Turkish.
• Follow coin-margined contracts alongside stablecoin-margined ones.

Choose ORBIT if you want to:

• Know what a specific perp-against-perp setup costs to enter at your size.
• Backtest a pair with fees and slippage from the order book, not a typed-in guess.
• Compare what venues actually paid over 7, 30 or 90 days.
• Include perp DEXs in the same view as centralized exchanges.
• Factor points programs and upcoming airdrops into which venue to use.

Many traders will use both: CoinGlass to understand the market, ORBIT to plan and check the trade.

A funding-arbitrage workflow on ORBIT

1. Open the funding screener. Pick a period (now, 7, 30 days) and the exchanges you can actually use. Sort by spread.
2. Ignore one-off spikes. Prefer pairs where the paid 7-day and 30-day averages agree with the current rate.
3. Open the pair in the backtester with your real position size. Check PnL after costs and the live entry and exit spread.
4. Check Size & Depth to see whether your size fits before slippage takes the edge.
5. Compare entry cost across venues on Execution Cost — a cheaper leg can be worth a slightly lower rate.
6. If the venues run points programs, check the points calculator and the airdrop calendar.
7. Look at the exchange-pair page in Compare to see whether this spread has held historically or comes and goes.