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 −0.001%

Price spread now: Gate against Bybit+0.072%7-day average +0.008% · you sell dearer than you buy

Net, funding: paid 7d − costs−$1,239as in the Funding arb table

Net, price: spread back to 7d avg − costs−$1,237as in the Price arb table

costs, in and out, $10k−$1,24312.431% of the position

Long on Bybit Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.038%+$4 on $10k

Price spread, last 4 days (all we have)+0.054%+$5 · spread now +0.072%, 7d avg +0.008%

Together, before fees+0.092%+$9 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 0.065% dearer against Bybit than usual: you sell high and buy low, +$6 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	Bybit BILLUSDT	0.01386	0.0100	pay 0.0050% / 4h	3h 43m	$1.3M	$937K	20x
Short	Gate BILL_USDT	0.01387	0.0100	get 0.0050% / 4h	3h 43m	$280K	$82K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Bybit. 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 BybitbpFee GatebpOrdersPrice spread, now +0.072%Rate

Funding earned: $0
Price spread: +0.072% → +0.008%: $6.47
Slippage, 4 orders: −$1,217.13
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$1,236.67
Costs to cover: 12.431%
Break-even: never at this rate

Slippage from Bybit: live order book, 3 min ago; Gate: live order book, 24 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 Bybit live order book, 3 min ago	3.60 bp	52.7 bp −$53	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 24 min ago	7.21 bp	292.0 bp −$292	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	+0.0055%	4h	0.01385	−0.072%	$144K	$19K	20x	as long as short
Aster BILLUSDT	+0.0100%	4h	0.01386	−0.001%	$2K	$4K	5x	as long as short
Bybit BILLUSDTlong	+0.0100%	4h	0.01386	long leg	$1.3M	$937K	20x
OKX BILL-USDT-SWAP	+0.0100%	4h	0.01387	+0.072%	$1.0M	$2.5M	20x	as long as short
Gate BILL_USDTshort	+0.0100%	4h	0.01387	+0.072%	$280K	$82K	20x
Bitget BILLUSDT	+0.0100%	4h	0.01386	0.000%	$631K	$847K	20x	as long as short
SunX BILL-USDT	+0.0100%	4h	0.01389	+0.216%	$2K	$1.1M	20x	as long as short
Backpack BILL_USDC_PERP	+0.0230%	1h	0.01386	0.000%	$22K	$926	5x	as long as short
MEXC BILL_USDT	+0.0318%	4h	0.01386	0.000%	$1.0M	$320K	50x	as long as short
Binance BILLUSDT	+0.0319%	4h	0.01387	+0.072%	$2.5M	$3.6M	20x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended BILL-USD	+0.0320%	1h	0.01387	+0.049%	$4K	$240K	5x	as long as short
BingX BILL-USDT	+0.0322%	4h	0.01387	+0.072%	—	$1.7M	—	as long as short
Coinbase International BILL-PERP-INTX	+0.0632%	1h	0.01386	−0.007%	$47K	$100K	50x	as long as short
HTX BILL-USDT	+0.0769%	4h	0.01391	+0.361%	$17K	$8K	20x	as long as short
KuCoin BILLUSDTM	+0.0978%	4h	0.01388	+0.152%	$443K	$278K	20x	as long as short
Deribit BILL_USDC-PERPETUAL	+0.2205%	1h	0.01388	+0.166%	$108K	$14K	10x	as long as short