Funding arb · Price arb /

BILL

all BILL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0588%/8h= +64.4% APRpaid last 24h +0.200%

Price spread now: Coinbase International against Bitget−0.138%47s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Bitget Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+1.105%+$110 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Coinbase International is 0.138% cheaper against Bitget than usual: you would sell low and buy high (spread −0.138% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$14 on $10k: about 19 hours of funding at the current rate (+$18 a day). The two prices were read 47 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget BILLUSDT	0.01381	0.0100	pay 0.0050% / 4h	31m 23s	$646K	$1.1M	20x
Short	Coinbase International BILL-PERP-INTX	0.01379	0.0688	get 0.0086% / 1h	31m 23s	$66K	$72K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Bitget. 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 BitgetbpFee Coinbase InternationalbpOrdersPrice spread, now −0.138%Rate

Funding earned: $123.48
Price spread: −0.138% → 0.000%: −$13.76
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $87.72
Costs to cover: 0.220%
Break-even: 2.0 days

Slippage unknown: Bitget: live order book, 5 min ago; Coinbase International: no order-book sample. Net counts fees only.

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 Bitget live order book, 5 min ago	10.99 bp	24.1 bp −$24	193.1 bp −$1,931	doesn't fit	doesn't fit
Sell Coinbase International no order-book sample	—	—	—	—	—

Coinbase International: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

BILL on 16 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
BloFin BILL-USDT	+0.0064%	4h	0.01358	−1.665%	$144K	$19K	20x	as long as short
Bybit BILLUSDT	+0.0100%	4h	0.01378	−0.217%	$1.3M	$992K	20x	as long as short
Gate BILL_USDT	+0.0100%	4h	0.01378	−0.217%	$277K	$85K	20x	as long as short
Bitget BILLUSDTlong	+0.0100%	4h	0.01381	long leg	$646K	$1.1M	20x
Backpack BILL_USDC_PERP	+0.0100%	1h	0.01380	−0.072%	$21K	$951	5x	as long as short
SunX BILL-USDT	+0.0100%	4h	0.01383	+0.145%	$2K	$1.1M	20x	as long as short
HTX BILL-USDT	+0.0100%	4h	0.01364	−1.231%	$11K	$39K	20x	as long as short
OKX BILL-USDT-SWAP	+0.0130%	4h	0.01380	−0.072%	$1.1M	$2.8M	20x	as long as short
Aster BILLUSDT	+0.0143%	4h	0.01381	−0.017%	$2K	$4K	5x	as long as short
Extended BILL-USD	+0.0272%	1h	0.01381	−0.028%	$2K	$220K	5x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC BILL_USDT	+0.0274%	4h	0.01380	−0.072%	$1.1M	$341K	50x	as long as short
Binance BILLUSDT	+0.0284%	4h	0.01381	+0.029%	$2.5M	$3.9M	20x	as long as short
BingX BILL-USDT	+0.0292%	4h	0.01380	−0.072%	—	$1.7M	—	as long as short
Coinbase International BILL-PERP-INTXshort	+0.0688%	1h	0.01379	−0.138%	$66K	$72K	50x
KuCoin BILLUSDTM	+0.1352%	4h	0.01380	−0.043%	$459K	$314K	20x	as long as short
Deribit BILL_USDC-PERPETUAL	+0.2362%	1h	0.01382	+0.072%	$108K	$14K	10x	as long as short