Settings8H · net · $10k
Funding arb · Price arb /

BTW

all BTW markets
SwapBacktest
Alert: funding
Alert: spread
Funding you earn now, next payment 00:00 UTC−0.2312%/8h= −253.2% APRnext payment $11.56 per $10,000 · paid last 24h +0.010%
Price spread now: Gate against BingX−0.456%7-day average −0.197% · you buy dearer than you sell
Net, funding: paid 7d − costs−$113as in the Funding arb table
Net, price: spread back to 7d avg − costs−$185as in the Price arb table
costs, in and out, $10k−$1591.590% of the position
What this pair did over the last
the charts below follow
Funding, last 7 days+0.460%+$46 on $10k
Price spread, last 7 days+0.331%+$33 · spread now −0.456%, 7d avg −0.197%
Together, before fees+0.791%+$79 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$69 a day on $10k at the current rate, and Gate is 0.259% cheaper against BingX than usual: you would sell low and buy high (−$26 if the spread goes back to its 7-day average of −0.197%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.460%, so the current rate has only just turned against you.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.460% in total (about 24.0% a year). A funding rate is set anew for every payment; at this rate the next one is about $11.56 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBingX BTW-USDT0.87430.2918pay 0.1459% / 4h1h 56m$4.4M
ShortGate BTW_USDT0.87030.0606get 0.0303% / 4h1h 56m$3.9M$15.4M10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Gate against BingX. 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

Funding earned
−$485.52
Price spread: −0.456% → −0.197%
−$25.92
Slippage, 4 orders
−$133.96
Fee BingX: 5 bp × 2 orders
−$10
Fee Gate: 7.5 bp × 2 orders
−$15
Net
−$670.4
Costs to cover
1.590%
Break-even
never at this rate
Slippage from BingX: live order book, 8 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
LegHalf-spread$10k$100k$1M$5M
Buy BingX live order book, 8 min ago3.44 bp25.7 bp −$2677.2 bp −$772718.0 bp −$71.8Kdoesn't fit
Sell Gate live order book, 2 min ago5.98 bp61.0 bp −$6176.9 bp −$769doesn't fitdoesn't fit

BTW on 11 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
HTX BTW-USDT+0.0100%4h0.8700−0.486%$213K$763K10xas long as short
Gate BTW_USDTshort+0.0606%4h0.8703−0.456%$3.9M$15.4M10x
Aster BTWUSDT+0.1479%4h0.8725−0.200%$2.4M$2.6M5xas long as short
KuCoin BTWUSDTM+0.1526%4h0.8735−0.095%$8.0M$4.7M10xas long as short
Bitget BTWUSDT+0.1610%4h0.8749+0.065%$27.7M$12.8M5xas long as short
MEXC BTW_USDT+0.1796%4h0.8742−0.011%$11.3M$5.9M20xas long as short
Binance BTWUSDT+0.1800%4h0.8739−0.046%$122.0M$160.8M10xas long as short
Extended BTW-USD+0.1800%1h0.8721−0.255%$42K$13K5xas long as short
edgeX BTWUSDC+0.1804%4h0.8718−0.288%$359K$495K10xas long as short
BingX BTW-USDTlong+0.2918%4h0.8743long leg$4.4M
Show all 11 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bybit BTWUSDT+0.3195%4h0.8734−0.098%$16.2M$36.5M10xas long as short