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: Bitget against Gate+0.362%7-day average +0.049% · you sell dearer than you buy

Net, funding: paid 7d − costs−$1,911as in the Funding arb table

Net, price: spread back to 7d avg − costs−$1,880as in the Price arb table

costs, in and out, $10k−$1,91119.113% of the position

Long on Gate Short on Bitget

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)−0.293%−$29 · spread now +0.362%, 7d avg +0.049%

Together, before fees−0.293%−$29 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: Bitget is 0.313% dearer against Gate than usual: you sell high and buy low, +$31 on $10k if it goes back to its 7-day average of +0.049%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate BILL_USDT	0.01380	0.0100	pay 0.0050% / 4h	1h 22m	$278K	$84K	20x
Short	Bitget BILLUSDT	0.01385	0.0100	get 0.0050% / 4h	1h 22m	$638K	$1.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.362%Rate

Funding earned: $0
Price spread: +0.362% → +0.049%: $31.3
Slippage, 4 orders: −$1,884.27
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$1,879.97
Costs to cover: 19.113%
Break-even: never at this rate

Slippage from Gate: live order book, 34 min ago; Bitget: live order book, 3 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, 34 min ago	10.85 bp	1597.4 bp −$1,597	90258.0 bp −$902.6K	doesn't fit	doesn't fit
Sell Bitget live order book, 3 min ago	10.85 bp	28.6 bp −$29	117.6 bp −$1,176	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
Bybit BILLUSDT	+0.0100%	4h	0.01383	+0.217%	$1.3M	$959K	20x	as long as short
Gate BILL_USDTlong	+0.0100%	4h	0.01380	long leg	$278K	$84K	20x
Bitget BILLUSDTshort	+0.0100%	4h	0.01385	+0.362%	$638K	$1.1M	20x
Backpack BILL_USDC_PERP	+0.0100%	1h	0.01381	+0.072%	$21K	$939	5x	as long as short
SunX BILL-USDT	+0.0100%	4h	0.01386	+0.435%	$1K	$1.1M	20x	as long as short
HTX BILL-USDT	+0.0100%	4h	0.01382	+0.145%	$11K	$38K	20x	as long as short
BloFin BILL-USDT	+0.0117%	4h	0.01380	0.000%	$147K	$19K	20x	as long as short
OKX BILL-USDT-SWAP	+0.0191%	4h	0.01383	+0.217%	$1.1M	$2.7M	20x	as long as short
Aster BILLUSDT	+0.0258%	4h	0.01382	+0.149%	$2K	$4K	5x	as long as short
BingX BILL-USDT	+0.0462%	4h	0.01384	+0.290%	—	$1.7M	—	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance BILLUSDT	+0.0466%	4h	0.01383	+0.213%	$2.5M	$3.8M	20x	as long as short
MEXC BILL_USDT	+0.0468%	4h	0.01382	+0.145%	$1.1M	$337K	50x	as long as short
Extended BILL-USD	+0.0472%	1h	0.01383	+0.184%	$3K	$219K	5x	as long as short
Coinbase International BILL-PERP-INTX	+0.0688%	1h	0.01379	−0.058%	$46K	$51K	50x	as long as short
KuCoin BILLUSDTM	+0.1944%	4h	0.01382	+0.174%	$456K	$307K	20x	as long as short
Deribit BILL_USDC-PERPETUAL	+0.2725%	1h	0.01382	+0.174%	$108K	$14K	10x	as long as short