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: SunX against Gate+0.072%53s7-day average +0.236% · you sell dearer than you buy

Net, funding: paid 7d − costs−$1,662as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1,66216.624% of the position

Long on Gate Short on SunX

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)+0.249%+$25 · spread now +0.072%, 7d avg +0.236%

Together, before fees+0.249%+$25 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: SunX is 0.164% cheaper against Gate than usual: you would sell low and buy high, −$16 on $10k if it goes back to its 7-day average of +0.236%. The two prices were read 53 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	Gate BILL_USDT	0.01383	0.0100	pay 0.0050% / 4h	29m 25s	$278K	$86K	20x
Short	SunX BILL-USDT	0.01384	0.0100	get 0.0050% / 4h	29m 25s	$2K	$1.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.072%Rate

Funding earned: $0
Price spread: +0.072% → +0.236%: −$16.36
Slippage, 4 orders: −$1,639.42
Fee Gate: 7.5 bp × 2 orders: −$15
Fee SunX: 4 bp × 2 orders: −$8
Net: −$1,678.78
Costs to cover: 16.624%
Break-even: never at this rate

Slippage from Gate: live order book, 22 min ago; SunX: live order book, 4 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, 22 min ago	11.03 bp	939.1 bp −$939	82346.9 bp −$823.5K	doesn't fit	doesn't fit
Sell SunX live order book, 4 min ago	36.21 bp	155.6 bp −$156	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
Bybit BILLUSDT	+0.0100%	4h	0.01381	−0.145%	$1.3M	$995K	20x	as long as short
Gate BILL_USDTlong	+0.0100%	4h	0.01383	long leg	$278K	$86K	20x
Bitget BILLUSDT	+0.0100%	4h	0.01382	−0.072%	$647K	$1.1M	20x	as long as short
Backpack BILL_USDC_PERP	+0.0100%	1h	0.01381	−0.145%	$21K	$951	5x	as long as short
SunX BILL-USDTshort	+0.0100%	4h	0.01384	+0.072%	$2K	$1.1M	20x
HTX BILL-USDT	+0.0100%	4h	0.01379	−0.289%	$11K	$39K	20x	as long as short
BloFin BILL-USDT	+0.0115%	4h	0.01376	−0.506%	$146K	$19K	20x	as long as short
OKX BILL-USDT-SWAP	+0.0135%	4h	0.01383	0.000%	$1.1M	$2.8M	20x	as long as short
Aster BILLUSDT	+0.0155%	4h	0.01383	+0.028%	$2K	$4K	5x	as long as short
BingX BILL-USDT	+0.0270%	4h	0.01383	0.000%	—	$1.7M	—	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	+0.0284%	4h	0.01384	+0.072%	$1.1M	$341K	50x	as long as short
Binance BILLUSDT	+0.0286%	4h	0.01385	+0.142%	$2.5M	$3.9M	20x	as long as short
Extended BILL-USD	+0.0288%	1h	0.01384	+0.047%	$2K	$220K	5x	as long as short
Coinbase International BILL-PERP-INTX	+0.0688%	1h	0.01381	−0.108%	$66K	$72K	50x	as long as short
KuCoin BILLUSDTM	+0.1352%	4h	0.01384	+0.058%	$460K	$315K	20x	as long as short
Deribit BILL_USDC-PERPETUAL	+0.2069%	1h	0.01383	+0.014%	$108K	$14K	10x	as long as short