Funding arb · Price arb /

BILL

all BILL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Gate against Bitget−0.290%7-day average −0.050% · you buy dearer than you sell

Net, funding: paid 7d − costs−$1,440as in the Funding arb table

Net, price: spread back to 7d avg − costs−$1,464as in the Price arb table

costs, in and out, $10k−$1,44014.401% of the position

Long on Bitget Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)+0.221%+$22 · spread now −0.290%, 7d avg −0.050%

Together, before fees+0.221%+$22 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: Gate is 0.240% cheaper against Bitget than usual: you would sell low and buy high, −$24 on $10k if it goes back to its 7-day average of −0.050%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget BILLUSDT	0.01377	0.0100	pay 0.0050% / 4h	32m 58s	$645K	$1.1M	20x
Short	Gate BILL_USDT	0.01373	0.0100	get 0.0050% / 4h	32m 58s	$276K	$85K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

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

latest

Price spreadloading…

Funding on every exchange

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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 GatebpOrdersPrice spread, now −0.290%Rate

Funding earned: $0
Price spread: −0.290% → −0.050%: −$24
Slippage, 4 orders: −$1,413.14
Fee Bitget: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$1,464.15
Costs to cover: 14.401%
Break-even: never at this rate

Slippage from Bitget: live order book, 3 min ago; Gate: live order book, 19 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 Bitget live order book, 3 min ago	10.99 bp	24.1 bp −$24	193.1 bp −$1,931	doesn't fit	doesn't fit
Sell Gate live order book, 19 min ago	11.03 bp	451.1 bp −$451	doesn't fit	doesn't fit	doesn't fit

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	−1.380%	$144K	$19K	20x	as long as short
Bybit BILLUSDT	+0.0100%	4h	0.01376	−0.073%	$1.3M	$991K	20x	as long as short
Gate BILL_USDTshort	+0.0100%	4h	0.01373	−0.290%	$276K	$85K	20x
Bitget BILLUSDTlong	+0.0100%	4h	0.01377	long leg	$645K	$1.1M	20x
Backpack BILL_USDC_PERP	+0.0100%	1h	0.01376	−0.073%	$21K	$951	5x	as long as short
SunX BILL-USDT	+0.0100%	4h	0.01378	+0.073%	$2K	$1.1M	20x	as long as short
HTX BILL-USDT	+0.0100%	4h	0.01364	−0.944%	$11K	$39K	20x	as long as short
Aster BILLUSDT	+0.0116%	4h	0.01376	−0.090%	$2K	$4K	5x	as long as short
OKX BILL-USDT-SWAP	+0.0127%	4h	0.01379	+0.145%	$1.1M	$2.7M	20x	as long as short
MEXC BILL_USDT	+0.0270%	4h	0.01377	0.000%	$1.1M	$341K	50x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance BILLUSDT	+0.0270%	4h	0.01379	+0.127%	$2.5M	$3.9M	20x	as long as short
Extended BILL-USD	+0.0272%	1h	0.01377	−0.024%	$2K	$220K	5x	as long as short
BingX BILL-USDT	+0.0292%	4h	0.01378	+0.073%	—	$1.7M	—	as long as short
Coinbase International BILL-PERP-INTX	+0.0688%	1h	0.01361	−1.198%	$65K	$71K	50x	as long as short
KuCoin BILLUSDTM	+0.1342%	4h	0.01375	−0.167%	$453K	$314K	20x	as long as short
Deribit BILL_USDC-PERPETUAL	+0.2296%	1h	0.01378	+0.102%	$108K	$14K	10x	as long as short