Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: BingX against Gate+0.029%7-day average −0.008% · you sell dearer than you buy

Net, funding: paid 7d − costs−$121as in the Funding arb table

Net, price: spread back to 7d avg − costs−$120as in the Price arb table

costs, in and out, $10k−$1231.234% of the position

Long on Gate Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.028%+$3 on $10k

Price spread, last 4 days (all we have)−0.094%−$9 · spread now +0.029%, 7d avg −0.008%

Together, before fees−0.066%−$7 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: BingX is 0.037% dearer against Gate than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.008%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate BASED_USDT	0.06817	0.0100	pay 0.0050% / 4h	16m 38s	$542K	$538K	50x
Short	BingX BASED-USDT	0.06819	0.0100	get 0.0050% / 4h	16m 38s	—	$1.7M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Gate. 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 GatebpFee BingXbpOrdersPrice spread, now +0.029%Rate

Funding earned: $0
Price spread: +0.029% → −0.008%: $3.73
Slippage, 4 orders: −$98.44
Fee Gate: 7.5 bp × 2 orders: −$15
Fee BingX: 5 bp × 2 orders: −$10
Net: −$119.71
Costs to cover: 1.234%
Break-even: never at this rate

Slippage from Gate: live order book, 59 min ago; BingX: live order book, 16 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 Gate live order book, 59 min ago	5.87 bp	35.0 bp −$35	5826.6 bp −$58.3K	doesn't fit	doesn't fit
Sell BingX live order book, 16 min ago	2.93 bp	26.6 bp −$27	82.0 bp −$820	doesn't fit	doesn't fit

BASED on 15 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
Binance BASEDUSDT	+0.0100%	4h	0.06826	+0.132%	$4.2M	$3.0M	25x	as long as short
Bybit BASEDUSDT	+0.0100%	4h	0.06814	−0.044%	$2.1M	$594K	25x	as long as short
OKX BASED-USDT-SWAP	+0.0100%	4h	0.06823	+0.088%	$2.6M	$3.6M	20x	as long as short
Gate BASED_USDTlong	+0.0100%	4h	0.06817	long leg	$542K	$538K	50x
MEXC BASED_USDT	+0.0100%	4h	0.06827	+0.147%	$4.8M	$645K	50x	as long as short
KuCoin BASEDUSDTM	+0.0100%	4h	0.06807	−0.147%	$571K	$69K	20x	as long as short
Bitget BASEDUSDT	+0.0100%	4h	0.06833	+0.235%	$1.3M	$370K	25x	as long as short
BingX BASED-USDTshort	+0.0100%	4h	0.06819	+0.029%	—	$1.7M	—
Variational Omni BASED	+0.0100%	4h	0.06795	−0.322%	$93K	$21K	—	as long as short
GRVT BASED_USDT_Perp	+0.0100%	4h	0.06811	−0.081%	$99K	$374K	10x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX BASED-USDT	+0.0100%	4h	0.06812	−0.073%	$1K	$823K	20x	as long as short
Extended BASED-USD	+0.0104%	1h	0.06825	+0.112%	$5K	$226K	5x	as long as short
BloFin BASED-USDT	+0.0121%	4h	0.06826	+0.132%	$252K	$41K	25x	as long as short
Aster BASEDUSDT	+0.0280%	4h	0.06818	+0.020%	$29K	$6K	5x	as long as short
Orderly PERP_BASED_USDC	+0.0321%	4h	0.06819	+0.029%	$3K	$652	10x	as long as short