Funding arb · Price arb /

ALGO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0212%/8h= +23.2% APRpaid last 24h +0.038%

Price spread now: Bitget against Coinbase International−0.354%7-day average +0.062% · you buy dearer than you sell

Net, funding: paid 7d − costs−$23as in the Funding arb table

Net, price: spread back to 7d avg − costs−$105as in the Price arb table

costs, in and out, $10k−$640.638% of the position

Long on Coinbase International Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.413%+$41 on $10k

Price spread, last 3 days (all we have)+0.418%+$42 · spread now −0.354%, 7d avg +0.062%

Together, before fees+0.831%+$83 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bitget is 0.416% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.354% now, against its 7-day average of +0.062%). If the spread goes back, that is −$42 on $10k: about 6.5 days of funding at the current rate (+$6 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International ALGO-PERP-INTX	0.1130	−0.0112	get 0.0014% / 1h	30m 54s	$62K	$333K	50x
Short	Bitget ALGOUSDT	0.1126	0.0100	get 0.0100% / 8h	30m 54s	$5.7M	$3.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Coinbase International. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee Coinbase InternationalbpFee BitgetbpOrdersPrice spread, now −0.354%Rate

Funding earned: $44.52
Price spread: −0.354% → +0.062%: −$41.62
Slippage, 4 orders: −$41.79
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$60.88
Costs to cover: 0.638%
Break-even: 16.6 days

Slippage from Coinbase International: live order book, 47 min ago; Bitget: live order book, 2 min ago.

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 Coinbase International live order book, 47 min ago	6.25 bp	12.1 bp −$12	17.7 bp −$177	doesn't fit	doesn't fit
Sell Bitget live order book, 2 min ago	4.43 bp	21.4 bp −$21	43.4 bp −$434	doesn't fit	doesn't fit

ALGO on 22 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
Deribit ALGO_USDC-PERPETUAL	−0.0638%	1h	0.1125	−0.434%	$102K	$50K	25x	as long as short
Kraken Futures PF_ALGOUSD	−0.0157%	1h	0.1125	−0.443%	$837K	$1.1M	50x	as long as short
Bybit ALGOUSDT	−0.0114%	8h	0.1125	−0.478%	$11.3M	$12.2M	75x	as long as short
Coinbase International ALGO-PERP-INTXlong	−0.0112%	1h	0.1130	long leg	$62K	$333K	50x
Variational Omni ALGO	−0.0093%	8h	0.1124	−0.498%	$62K	$13K	—	as long as short
gTrade (Gains Network) ALGO/USD	L +0.0001% / S +0.0003%	1h	0.1127	−0.281%	$6K	—	150x	as long as short
Injective ALGO/USDC PERP	+0.0026%	1h	0.1120	−0.885%	$834	$233K	12x	as long as short
Hyperliquid ALGO	+0.0100%	1h	0.1127	−0.265%	$3.8M	$1.9M	5x	as long as short
Aster ALGOUSDT	+0.0100%	8h	0.1126	−0.315%	$44K	$35K	5x	as long as short
Binance ALGOUSDT	+0.0100%	8h	0.1125	−0.451%	$10.0M	$34.8M	75x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ALGO-USDT-SWAP	+0.0100%	8h	0.1125	−0.478%	$3.0M	$7.8M	50x	as long as short
Gate ALGO_USDT	+0.0100%	8h	0.1127	−0.265%	$889K	$834K	50x	as long as short
MEXC ALGO_USDT	+0.0100%	8h	0.1125	−0.460%	$23.1M	$2.9M	200x	as long as short
KuCoin ALGOUSDTM	+0.0100%	8h	0.1126	−0.372%	$3.6M	$1.5M	50x	as long as short
Bitget ALGOUSDTshort	+0.0100%	8h	0.1126	−0.354%	$5.7M	$3.6M	75x
BingX ALGO-USDT	+0.0100%	8h	0.1125	−0.442%	—	$3.3M	—	as long as short
HTX ALGO-USDT	+0.0100%	8h	0.1125	−0.398%	$66K	$107K	75x	as long as short
Phemex ALGOUSDT	+0.0100%	8h	0.1128	−0.177%	$3.8M	$1.8M	50x	as long as short
Extended ALGO-USD	+0.0104%	1h	0.1125	−0.480%	$7K	$210K	10x	as long as short
BloFin ALGO-USDT	+0.0220%	8h	0.1125	−0.425%	$495K	$796K	75x	as long as short
GMX ALGO/USD [WBTC.b-USDC]	L +0.0321% / S −0.0311%	1h	0.1126	−0.325%	$7K	—	100x	as long as short
dYdX ALGO-USD	+0.1488%	1h	0.1128	−0.176%	$162K	$3K	5x	as long as short