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: Bybit against Gate−0.044%7-day average −0.065% · you buy dearer than you sell

Net, funding: paid 7d − costs−$349as in the Funding arb table

Net, price: spread back to 7d avg − costs−$344as in the Price arb table

costs, in and out, $10k−$3463.463% of the position

Long on Gate Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.025%−$2 on $10k

Price spread, last 4 days (all we have)−0.307%−$31 · spread now −0.044%, 7d avg −0.065%

Together, before fees−0.332%−$33 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: Bybit is 0.021% dearer against Gate than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of −0.065%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate BASED_USDT	0.06771	0.0100	pay 0.0050% / 4h	2h 19m	$539K	$519K	50x
Short	Bybit BASEDUSDT	0.06768	0.0100	get 0.0050% / 4h	2h 19m	$2.1M	$576K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.044%Rate

Funding earned: $0
Price spread: −0.044% → −0.065%: $2.09
Slippage, 4 orders: −$320.28
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$344.19
Costs to cover: 3.463%
Break-even: never at this rate

Slippage from Gate: live order book, 1 min ago; Bybit: 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 Gate live order book, 1 min ago	8.86 bp	37.6 bp −$38	7092.9 bp −$70.9K	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	5.92 bp	123.0 bp −$123	996.3 bp −$9,963	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	0.06775	+0.054%	$4.2M	$2.9M	25x	as long as short
Bybit BASEDUSDTshort	+0.0100%	4h	0.06768	−0.044%	$2.1M	$576K	25x
OKX BASED-USDT-SWAP	+0.0100%	4h	0.06768	−0.044%	$2.6M	$3.4M	20x	as long as short
Gate BASED_USDTlong	+0.0100%	4h	0.06771	long leg	$539K	$519K	50x
MEXC BASED_USDT	+0.0100%	4h	0.06774	+0.044%	$4.8M	$656K	50x	as long as short
KuCoin BASEDUSDTM	+0.0100%	4h	0.06770	−0.015%	$565K	$111K	20x	as long as short
Bitget BASEDUSDT	+0.0100%	4h	0.06782	+0.162%	$1.3M	$360K	25x	as long as short
BingX BASED-USDT	+0.0100%	4h	0.06772	+0.015%	—	$1.6M	—	as long as short
Variational Omni BASED	+0.0100%	4h	0.06761	−0.153%	$92K	$22K	—	as long as short
GRVT BASED_USDT_Perp	+0.0100%	4h	0.06776	+0.071%	$93K	$372K	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	0.06769	−0.030%	$1K	$797K	20x	as long as short
Extended BASED-USD	+0.0104%	1h	0.06773	+0.032%	$5K	$226K	5x	as long as short
BloFin BASED-USDT	+0.0105%	4h	0.06779	+0.118%	$251K	$37K	25x	as long as short
Aster BASEDUSDT	+0.0175%	4h	0.06771	+0.006%	$28K	$6K	5x	as long as short
Orderly PERP_BASED_USDC	+0.0307%	4h	0.06774	+0.044%	$3K	$652	10x	as long as short