Size & Depth
Funding arbitrage sized to your capital: long one venue, short another, profit from the gap between their rates. Shows how much each pair actually absorbs against live orderbooks, and what that earns per year in dollars after costs.
This is funding arbitrage, not price arbitrage. You open the same size on two venues at once: long where funding pays you or costs less, short where the rate is higher. The price of the asset does not matter — the position is delta-neutral, and the profit comes from the gap between the two funding rates.
Enter the POSITION SIZE per leg — leverage already included, the exact notional you open on the venue. With $100k at 5x, enter $500k: that is what walks the book, and slippage is measured against it. APR does not depend on leverage (funding accrues on notional), but slippage and capacity depend on it directly, so what matters here is the notional, not your capital.
- Enter the size you would actually deploy. The table reprices for it, because size decides both your slippage and whether you fit at all.
- Take a row badged YES: both books absorb your full size. PARTLY means only part of it clears, NO means the market is too thin for that amount.
- Click Backtest on the row — it opens the pair page with these venues and this size already filled in, showing rate history, cumulative PnL and the full cost breakdown. Check the pair there before committing money.
What this table does not show: the rate can flip, a venue can change rules or stall withdrawals, and both legs need margin — if one is liquidated the position stops being delta-neutral.
Best right now: ACE (CoinW → Bitunix) — 333.7% per year, entry pays back in 0.5 days
| Asset | Long → Short | Net APRThe net rate: what the short pays minus what the long costs, annualised. The large figure is the 7-day average — income and payback are computed from it, which is why it leads. Under it: the 30-day average, the band the rate actually traded in (p10-p90), and the live value. Compare the week against the month — if they disagree the rate is drifting and the projection is fragile, and a wide band means the same. When a venue is too new for a full week, the label shows the hours actually observed instead of "7d". | Entry+exitThe full round trip at your size: both venues’ fees to open and close, plus orderbook slippage. You pay this immediately and unconditionally, while funding accrues gradually. Compare it against the APR: a 0.5% round trip against a 30% annual rate pays back in about a week. | PaybackHow many days of accrued funding it takes to cover entry and exit. Opening and closing costs money (fees plus slippage), and until that point you are down. Close earlier and you lose on costs. | Fits?YES means both books absorb your full size and the round-trip column is priced on it. PARTLY or NO means the book is too thin: you could only fill by moving the price, and slippage would eat the rate gap. In that case the cost is priced on the part that does clear, labelled under the figure. YES does not mean profitable — read the round trip and the payback. | CapacityHow much the pair absorbs before the orderbook eats the edge. Beyond this, adding size is pointless: slippage grows faster than the rate gap. This is the answer to "how far can I scale this". | |
|---|---|---|---|---|---|---|---|
| —22h avg—30d avg-606…879%usual333.7% now | 0.47%priced at $34k | 0.5 days | PARTLY | $34k | Backtest → | ||
| 29.1%7d avg23.2%30d avg20…45%usual36.2% now | 0.32%priced at $100k | 4.0 days | PARTLY | $100k | Backtest → | ||
| 24.2%7d avg4.7%30d avg-13…48%usual21.5% now | 0.28% | 4.3 days | YES | $2.6M | Backtest → | ||
| 24.9%7d avg11.1%30d avg1…47%usual24.2% now | 0.53%priced at $97k | 7.7 days | PARTLY | $97k | Backtest → | ||
| 23.4%7d avg11.9%30d avg6…33%usual46.0% now | 0.40% | 6.2 days | YES | $171k | Backtest → | ||
| 39.3%7d avg20.8%30d avg9…65%usual52.3% now | 0.47%priced at $49k | 4.3 days | PARTLY | $49k | Backtest → | ||
| 15.8%7d avg2.6%30d avg-3…47%usual28.5% now | 0.21% | 4.8 days | YES | $661k | Backtest → | ||
| 20.4%7d avg20.2%30d avg-1…30%usual31.3% now | 0.47%priced at $75k | 8.4 days | PARTLY | $75k | Backtest → | ||
| 100.2%7d avg81.4%30d avg32…157%usual98.1% now | 0.39%priced at $13k | 1.4 days | PARTLY | $13k | Backtest → | ||
| 22.0%7d avg5.5%30d avg-6…41%usual60.5% now⚠ | 0.55%priced at $49k | 9.1 days | PARTLY | $49k | Backtest → | ||
| 31.5%7d avg-18.9%30d avg-1…44%usual50.3% now | 0.46%priced at $27k | 5.3 days | PARTLY | $27k | Backtest → | ||
| 19.9%7d avg15.1%30d avg3…40%usual36.2% now | 0.47%priced at $36k | 8.5 days | PARTLY | $36k | Backtest → | ||
| 1000PEPE | 27.8%7d avg0.1%30d avg-12…49%usual33.5% now | 0.43%priced at $13k | 5.6 days | PARTLY | $13k | Backtest → | |
| 15.0%7d avg13.4%30d avg0…37%usual24.2% now | 0.39%priced at $22k | 9.5 days | PARTLY | $22k | Backtest → | ||
| 5.5%7d avg4.6%30d avg-0…26%usual12.3% now⚠ | 0.39%priced at $59k | 26.3 days | PARTLY | $59k | Backtest → | ||
| 26.4%7d avg25.8%30d avg-12…78%usual1.1% now | 0.45%priced at $11k | 6.3 days | PARTLY | $11k | Backtest → | ||
| 21.4%7d avg15.6%30d avg0…45%usual18.2% now | 0.45%priced at $13k | 7.7 days | PARTLY | $13k | Backtest → | ||
| 2.9%7d avg2.1%30d avg-4…15%usual0.7% now | 0.36%priced at $87k | 45.2 days | PARTLY | $87k | Backtest → | ||
| 7.3%7d avg6.3%30d avg-1…22%usual20.5% now⚠ | 0.41%priced at $31k | 20.4 days | PARTLY | $31k | Backtest → | ||
| 1000BONK | 14.8%7d avg9.9%30d avg0…62%usual9.9% now | 0.52%priced at $15k | 12.9 days | PARTLY | $15k | Backtest → | |
| 5.5%7d avg3.9%30d avg0…16%usual11.0% now | — | — | PARTLY | $33k | Backtest → | ||
| 11.3%7d avg4.7%30d avg-5…27%usual0.7% now | 0.47%priced at $14k | 15.2 days | PARTLY | $14k | Backtest → | ||
| 35.2%7d avg20.2%30d avg10…60%usual50.9% now | 0.46%priced at $4k | 4.8 days | NO | $4k | Backtest → | ||
| 6.4%7d avg11.7%30d avg-49…58%usual46.3% now⚠ | 0.40%priced at $21k | 22.6 days | PARTLY | $21k | Backtest → | ||
| 1000SHIB | 1.6%7d avg-0.1%30d avg-4…7%usual12.3% now⚠ | 0.51% | 113.8 days | YES | $108k | Backtest → | |
| 2.4%7d avg5.2%30d avg-8…14%usual38.5% now⚠ | — | — | PARTLY | $50k | Backtest → | ||
| 5.2%7d avg5.6%30d avg0…19%usual9.8% now | 0.47%priced at $21k | 32.5 days | PARTLY | $21k | Backtest → | ||
| 33.1%7d avg13.3%30d avg14…51%usual48.9% now | 0.47%priced at $3k | 5.2 days | NO | $3k | Backtest → | ||
| 14.9%7d avg13.6%30d avg12…37%usual77.5% now⚠ | 0.43%priced at $5k | 10.4 days | NO | $5k | Backtest → | ||
| 42.0%7d avg41.5%30d avg28…57%usual52.0% now | 0.41%priced at $2k | 3.6 days | NO | $2k | Backtest → | ||
| 21.2%7d avg5.1%30d avg-23…38%usual13.5% now | 0.52%priced at $3k | 9.0 days | NO | $3k | Backtest → | ||
| 103.6%7d avg9.3%30d avg-5…315%usual47.7% now | 0.43%priced at $519 | 1.5 days | NO | $519 | Backtest → | ||
| 10.0%7d avg22.0%30d avg-17…30%usual27.3% now⚠ | 0.36%priced at $5k | 13.1 days | NO | $5k | Backtest → | ||
| 16.0%7d avg35.0%30d avg-13…40%usual27.3% now | 0.43%priced at $2k | 9.7 days | NO | $2k | Backtest → | ||
| 66.9%7d avg10.8%30d avg7…111%usual77.1% now | 0.48%priced at $505 | 2.6 days | NO | $505 | Backtest → | ||
| 21.8%7d avg15.7%30d avg-25…50%usual29.6% now | 0.43%priced at $2k | 7.2 days | NO | $2k | Backtest → | ||
| 3.9%7d avg3.8%30d avg-8…22%usual10.4% now⚠ | 0.50%priced at $10k | 46.7 days | NO | $10k | Backtest → | ||
| 31.0%22h avg30.7%30d avg-0…0%usual0.0% now | 0.52%priced at $933 | 6.2 days | NO | $933 | Backtest → | ||
| 1.8%7d avg5.1%30d avg-10…65%usual50.4% now⚠ | 0.44%priced at $20k | 89.3 days | PARTLY | $20k | Backtest → | ||
| 5.2%58h avg-0.2%30d avg2…11%usual9.4% now | 0.52%priced at $4k | 36.9 days | NO | $4k | Backtest → | ||
| 47.7%58h avg0.0%30d avg-11…62%usual30.7% now | 0.39%priced at $145 | 3.0 days | NO | $145 | Backtest → | ||
| 0.9%7d avg-0.6%30d avg-23…18%usual9.8% now⚠ | 0.43%priced at $7k | 177.2 days | NO | $7k | Backtest → | ||
| TREE | 1.6%22h avg-0.4%30d avg1…2%usual1.5% now | 0.49%priced at $2k | 112.7 days | NO | $2k | Backtest → | |
| 4.2%58h avg3.2%30d avg0…30%usual13.5% now⚠ | 0.46%priced at $594 | 39.9 days | NO | $594 | Backtest → | ||
| 1.2%40h avg3.7%30d avg0…11%usual11.3% now⚠ | 0.47%priced at $2k | 144.9 days | NO | $2k | Backtest → | ||
| 2.3%7d avg19.3%30d avg-14…21%usual89.0% now⚠ | 0.43%priced at $510 | 67.2 days | NO | $510 | Backtest → | ||
| -0.3%7d avg-0.8%30d avg-2…1%usual23.8% now⚠ | 0.49%priced at $4k | — | NO | $4k | Backtest → | ||
| 1000FLOKI | -0.4%7d avg2.5%30d avg-9…9%usual15.3% now⚠ | 0.46%priced at $29k | — | PARTLY | $29k | Backtest → | |
| -0.1%7d avg-1.7%30d avg-3…2%usual0.8% now⚠ | 0.51%priced at $16k | — | PARTLY | $16k | Backtest → | ||
| -2.1%7d avg0.7%30d avg-6…5%usual0.3% now | 0.49%priced at $6k | — | NO | $6k | Backtest → | ||
| 0.2%7d avg-1.7%30d avg-0…0%usual2.2% now⚠ | 0.50%priced at $2k | 1065.8 days | NO | $2k | Backtest → | ||
| -46.5%22h avg-35.9%30d avg-26…16%usual2.2% now | 0.52%priced at $167 | — | NO | $167 | Backtest → | ||
| -1.0%7d avg-0.7%30d avg-12…8%usual8.9% now⚠ | 0.54%priced at $12k | — | PARTLY | $12k | Backtest → | ||
| -34.8%58h avg-54.0%30d avg-99…4%usual2.9% now | 0.53%priced at $476 | — | NO | $476 | Backtest → | ||
| -3.6%7d avg-34.2%30d avg-31…27%usual20.8% now⚠ | 0.45%priced at $507 | — | NO | $507 | Backtest → | ||
| -1.0%7d avg-2.9%30d avg-23…11%usual11.4% now⚠ | 0.37%priced at $91k | — | PARTLY | $91k | Backtest → | ||
| -7.9%7d avg0.8%30d avg-12…27%usual25.6% now⚠ | 0.52%priced at $545 | — | NO | $545 | Backtest → | ||
| POPCAT | -28.5%7d avg-55.2%30d avg-55…0%usual6.0% now | 0.35%priced at $410 | — | NO | $410 | Backtest → | |
| -5.0%7d avg0.6%30d avg-31…44%usual0.7% now | 0.47%priced at $232 | — | NO | $232 | Backtest → |
Capacity is the median across snapshots from the last hour, not a single instant — books flicker as market makers requote. We see the 50 levels each venue publishes, so where the book hits that cap the real depth is larger than shown; hidden and iceberg liquidity is invisible to everyone. Income assumes the 7-day average funding rate holds, which it will not exactly. These are estimates for sizing, not guarantees.