Funding arb · Price arb /

CAP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0094%/8h= +10.2% APRpaid last 24h −0.093%

Price spread now: BingX against gTrade (Gains Network)−0.144%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on gTrade (Gains Network)Short on BingX

What this pair did over the last

the charts below follow

Funding, last 1 day (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. BingX is 0.144% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.144% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$14 on $10k: about 5.1 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) CAP/USD	0.04567	L 0.0000% / S 0.0000%	pay 0.0000% / 1h	41m 10s	$494	—	150x
Short	BingX CAP-USDT	0.04560	0.0094	get 0.0047% / 4h	3h 41m	—	$1.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.144%Rate

Funding earned: $19.64
Price spread: −0.144% → 0.000%: −$14.39
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: −$16.74
Costs to cover: 0.220%
Break-even: 13.0 days

Slippage unknown: gTrade (Gains Network): no order-book sample; BingX: live order book, 11 min ago. Net counts fees only.

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) no order-book sample	—	—	—	—	—
Sell BingX live order book, 11 min ago	7.72 bp	27.1 bp −$27	73.4 bp −$734	793.6 bp −$79.4K	doesn't fit

gTrade (Gains Network): no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

CAP on 14 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
KuCoin CAPUSDTM	−0.0828%	4h	0.04553	−0.297%	$4.3M	$1.4M	10x	as long as short
OKX CAP-USDT-SWAP	−0.0595%	4h	0.04563	−0.078%	$2.2M	$7.0M	10x	as long as short
Bybit CAPUSDT	−0.0497%	4h	0.04564	−0.056%	$4.5M	$4.1M	10x	as long as short
Variational Omni CAP	−0.0194%	4h	0.04551	−0.335%	$8K	$8K	—	as long as short
Bitget CAPUSDT	−0.0072%	4h	0.04562	−0.100%	$1.0M	$556K	10x	as long as short
gTrade (Gains Network) CAP/USDlong	L 0.0000% / S 0.0000%	1h	0.04567	long leg	$494	—	150x
MEXC CAP_USDT	+0.0094%	4h	0.04564	−0.056%	$523K	$228K	20x	as long as short
BingX CAP-USDTshort	+0.0094%	4h	0.04560	−0.144%	—	$1.6M	—
Lighter CAP	+0.0096%	1h	0.04558	−0.192%	$19K	$3K	3x	as long as short
Aster CAPUSDT	+0.0100%	4h	0.04551	−0.332%	$27K	$71K	5x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance CAPUSDT	+0.0100%	4h	0.04558	−0.186%	$9.0M	$8.8M	10x	as long as short
Gate CAP_USDT	+0.0100%	4h	0.04550	−0.363%	$331K	$1.1M	20x	as long as short
Orderly PERP_CAP_USDC_mythos	+0.0100%	4h	0.04557	−0.218%	$5K	$582	10x	as long as short
BloFin CAP-USDT	+0.0117%	4h	0.04558	−0.188%	$376K	$59K	10x	as long as short