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

BTW

all BTW markets
SwapBacktest
Alert: funding
Measured
My alerts

Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Alert: spread
My alerts

Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Funding you earn now, next payment 00:00 UTC−0.0944%/8h= −103.4% APRnext payment −$4.72 per $10,000 · paid last 24h +0.138%
Price spread now: Gate against Bybit+0.026%7-day average −0.074% · you sell dearer than you buy
Net, funding: paid 7d − costs−$166as in the Funding arb table
Net, price: spread back to 7d avg − costs−$195as in the Price arb table
costs, in and out, $10k−$2052.054% of the position
Long on BybitShort on Gate
What this pair did over the last
the charts below follow
Funding, last 7 days+0.393%+$39 on $10k
Price spread, last 7 days−0.056%−$6 · spread now +0.026%, 7d avg −0.074%
Together, before fees+0.337%+$34 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Gate is 0.101% dearer against Bybit than usual: you sell high and buy low (spread +0.026% now, against its 7-day average of −0.074%): +$10 on $10k if it goes back. Holding the pair costs −$28 a day in funding at the current rate, which eats that in about 9 hours. Mind the row above: over the last 7 days funding on this pair paid +0.393%, 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 0.393% in total (about 20.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$4.72 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
LongBybit BTWUSDT0.80990.1608pay 0.0804% / 4h35m 07s$15.8M$38.6M10x
ShortGate BTW_USDT0.81010.0664get 0.0332% / 4h35m 07s$3.5M$15.9M10x

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

Funding earned
−$198.25
Price spread: +0.026% → −0.074%
$10.06
Slippage, 4 orders
−$179.42
Fee Bybit: 5.5 bp × 2 orders
−$11
Fee Gate: 7.5 bp × 2 orders
−$15
Net
−$393.61
Costs to cover
2.054%
Break-even
never at this rate
Slippage from Bybit: live order book, 4 min ago; Gate: live order book, 4 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 Bybit live order book, 4 min ago3.32 bp67.8 bp −$68doesn't fitdoesn't fitdoesn't fit
Sell Gate live order book, 4 min ago9.68 bp44.0 bp −$4475.4 bp −$754doesn'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%4h0.8114+0.183%$201K$766K10xas long as short
Gate BTW_USDTshort+0.0664%4h0.8101+0.026%$3.5M$15.9M10x
Aster BTWUSDT+0.1201%4h0.8083−0.204%$2.2M$2.9M5xas long as short
KuCoin BTWUSDTM+0.1316%4h0.8098−0.020%$7.5M$4.8M10xas long as short
Bitget BTWUSDT+0.1328%4h0.8108+0.107%$25.7M$13.4M5xas long as short
Extended BTW-USD+0.1352%1h0.8070−0.360%$39K$11K5xas long as short
Binance BTWUSDT+0.1355%4h0.8114+0.183%$113.1M$167.7M10xas long as short
MEXC BTW_USDT+0.1370%4h0.8097−0.027%$9.7M$6.1M20xas long as short
edgeX BTWUSDC+0.1392%4h0.8143+0.543%$336K$499K10xas long as short
BingX BTW-USDT+0.1602%4h0.8107+0.096%—$4.4M—as long as short
Show all 11 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bybit BTWUSDTlong+0.1608%4h0.8099long leg$15.8M$38.6M10x