Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0086%/8h= +9.5% APRpaid last 24h +0.012%

Price spread now: Gate against gTrade (Gains Network)+0.011%7-day average −0.016% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$20as in the Price arb table

costs, in and out, $10k−$230.230% of the position

Long on gTrade (Gains Network)Short on Gate

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.057%+$6 on $10k

Price spread, last 3 days (all we have)−0.039%−$4 · spread now +0.011%, 7d avg −0.016%

Together, before fees+0.018%+$2 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Gate is 0.027% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.016%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) BTC/USD	86,210	L +0.0005% / S −0.0004%	pay 0.0001% / 1h	17m 05s	$36.8M	—	200x
Short	Gate BTC_USDT	86,219.4	0.0091	get 0.0091% / 8h	7h 17m	$5.76B	$10.59B	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee GatebpOrdersPrice spread, now +0.011%Rate

Funding earned: $18.13
Price spread: +0.011% → −0.016%: $2.72
Slippage, 4 orders: −$1.05
Fee gTrade (Gains Network): 3.5 bp × 2 orders: −$7
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$2.19
Costs to cover: 0.230%
Break-even: 7.8 days

Slippage from gTrade (Gains Network): virtual book (oracle venue), 2 min ago; Gate: live order book, 2 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 gTrade (Gains Network) virtual book (oracle venue), 2 min ago	0.51 bp	4.0 bp −$4	4.1 bp −$41	4.5 bp −$446	6.4 bp −$3,183
Sell Gate live order book, 2 min ago	0.01 bp	7.5 bp −$8	7.7 bp −$77	9.3 bp −$927	11.6 bp −$5,793

BTC on 56 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
Phoenix BTC	−0.0129%	1h	86,239	+0.034%	$2.2M	$11.2M	40x	as long as short
Bluefin BTC-PERP	−0.0083%	1h	86,221.8	+0.014%	$144K	$667K	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,248	+0.044%	$9K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0040%	1h	86,225.1	+0.018%	$363K	$2.4M	50x	as long as short
Perpl BTC	0.0000%	43m	86,233.8	+0.028%	$541K	$21.3M	6.7x	as long as short
gTrade (Gains Network) BTC/USDlong	L +0.0005% / S −0.0004%	1h	86,210	long leg	$36.8M	—	200x
dYdX BTC-USD	+0.0022%	1h	86,243.1	+0.038%	$16.9M	$20.5M	50x	as long as short
Injective BTC/USDC PERP	+0.0023%	1h	86,358	+0.172%	$343K	$26.9M	52x	as long as short
Aster BTCUSDT	+0.0028%	8h	86,221.3	+0.013%	$500.0M	$1.13B	200x	as long as short
KuCoin XBTUSDTM	+0.0042%	8h	86,191.9	−0.021%	$830.7M	$718.6M	125x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya BTCRUSDPERP	+0.0047%	1h	86,196	−0.016%	$6.7M	$145.8M	40x	as long as short
BingX BTC-USDC	+0.0050%	8h	86,217.1	+0.008%	—	$15.3M	—	as long as short
RISEx BTC/USDC	+0.0052%	1h	86,233.1	+0.027%	$8.3M	$42.4M	25x	as long as short
Bitget BTCUSDT	+0.0065%	8h	86,215.5	+0.006%	$2.97B	$5.05B	150x	as long as short
SoDEX BTC-USD	+0.0074%	1h	86,188	−0.026%	$60.4M	$338.2M	40x	as long as short
Aevo BTC-PERP	+0.0080%	1h	86,192	−0.021%	$2.5M	$1.8M	20x	as long as short
MEXC BTC_USDT	+0.0082%	8h	86,214.2	+0.005%	$5.09B	$5.74B	500x	as long as short
Binance BTCUSDT	+0.0083%	8h	86,245.6	+0.041%	$9.40B	$24.33B	150x	as long as short
Gate BTC_USDTshort	+0.0091%	8h	86,219.4	+0.011%	$5.76B	$10.59B	200x
Lighter BTC	+0.0096%	1h	86,205.5	−0.005%	$170.3M	$990.4M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,214.9	+0.006%	$23.6M	$151.3M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,220	+0.012%	$8.4M	$52.0M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,201	−0.010%	$196K	$7.2M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,241	+0.036%	$4.2M	$8.6M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,239.4	+0.034%	$22.0M	$227.0M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,285	+0.087%	$3.78B	$4.98B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,248.8	+0.045%	$40.6M	$558.6M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	86,254.6	+0.052%	$5.25B	$9.67B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,262.8	+0.061%	$2.56B	$12.46B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,218	+0.009%	$3.9M	$17.8M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,248.6	+0.045%	$7.2M	$95.0M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,145.7	−0.075%	$580.3M	$59.0M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,200.7	−0.011%	$35.6M	$160.6M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,271.9	+0.072%	$157.9M	$558.2M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,274.4	+0.075%	$278.7M	$950.7M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,277	+0.078%	$216.6M	$165.7M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,283.5	+0.085%	$141.3M	$321.0M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,247	+0.043%	$30.6M	$208.8M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,261.7	+0.060%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,224	+0.016%	$11.1M	$14.1M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,194.3	−0.018%	$191K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,180.5	−0.034%	$2.4M	$8.9M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,210.7	+0.001%	$30.3M	$56.9M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,203.5	−0.008%	$3.3M	$5.4M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,201.5	−0.010%	$2.29B	$959.1M	200x	as long as short
Phemex BTCUSDT	+0.0100%	8h	86,212.7	+0.003%	$155.1M	$473.4M	150x	as long as short
Extended BTC-USD	+0.0104%	1h	86,168.5	−0.048%	$46.0M	$222.5M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,236.4	+0.031%	—	$99.0M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0120%	1h	86,233.9	+0.028%	$132.2M	$5.33B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0121%	1h	86,226.4	+0.019%	$191.7M	$946.3M	100x	as long as short
Deribit BTC-PERPETUAL	+0.0156%	1h	86,239.7	+0.034%	$902.1M	$1.51B	50x	as long as short
Hibachi BTC/USDT-P	+0.0168%	1h	86,215.3	+0.006%	$712K	$7.9M	30x	as long as short
Aftermath Perps BTCUSD	+0.0170%	1h	86,315.6	+0.123%	$77K	$217K	20x	as long as short
BloFin BTC-USDT	+0.0203%	8h	86,184.8	−0.029%	$415.3M	$641.0M	150x	as long as short
Kalshi KXBTCPERP	+0.0204%	8h	86,236	+0.030%	$10.5M	$765.9M	6.4x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0207% / S −0.0222%	1h	86,206.3	−0.004%	$14.5M	—	200x	as long as short