Funding arb · Price arb /

CFX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0148%/8h= −16.2% APRpaid last 24h −0.078%

Price spread now: Gate against Coinbase International−0.166%7-day average −0.246% · you buy dearer than you sell

Net, funding: paid 7d − costs−$893as in the Funding arb table

Net, price: spread back to 7d avg − costs−$851as in the Price arb table

costs, in and out, $10k−$8598.588% of the position

Long on Coinbase International Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.339%−$34 on $10k

Price spread, last 4 days (all we have)+0.187%+$19 · spread now −0.166%, 7d avg −0.246%

Together, before fees−0.152%−$15 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.079% dearer against Coinbase International than usual: you sell high and buy low (spread −0.166% now, against its 7-day average of −0.246%): +$8 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 43 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International CFX-PERP-INTX	0.05412	0.0248	pay 0.0031% / 1h	20m 24s	$43K	$125K	50x
Short	Gate CFX_USDT	0.05403	0.0100	get 0.0100% / 8h	5h 20m	$1.1M	$2.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Coinbase International. 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 Coinbase InternationalbpFee GatebpOrdersPrice spread, now −0.166%Rate

Funding earned: −$31.08
Price spread: −0.166% → −0.246%: $7.95
Slippage, 4 orders: −$833.75
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$881.89
Costs to cover: 8.588%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 42 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 Coinbase International live order book, 42 min ago	19.48 bp	806.2 bp −$806	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 2 min ago	2.77 bp	13.8 bp −$14	28.3 bp −$283	doesn't fit	doesn't fit

CFX 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
Aster CFXUSDT	+0.0100%	8h	0.05403	−0.162%	$5K	$43K	5x	as long as short
Binance CFXUSDT	+0.0100%	8h	0.05403	−0.162%	$5.4M	$10.1M	75x	as long as short
Bybit CFXUSDT	+0.0100%	8h	0.05406	−0.111%	$2.4M	$1.4M	25x	as long as short
OKX CFX-USDT-SWAP	+0.0100%	8h	0.05402	−0.185%	$2.6M	$5.7M	20x	as long as short
Gate CFX_USDTshort	+0.0100%	8h	0.05403	−0.166%	$1.1M	$2.5M	50x
MEXC CFX_USDT	+0.0100%	8h	0.05403	−0.166%	$3.0M	$1.7M	125x	as long as short
KuCoin CFXUSDTM	+0.0100%	8h	0.05404	−0.148%	$888K	$283K	75x	as long as short
Bitget CFXUSDT	+0.0100%	8h	0.05402	−0.185%	$1.6M	$1.4M	75x	as long as short
BingX CFX-USDT	+0.0100%	8h	0.05403	−0.166%	—	$20.1M	—	as long as short
Variational Omni CFX	+0.0100%	8h	0.05415	+0.055%	$43K	$45K	—	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT CFX_USDT_Perp	+0.0100%	8h	0.05409	−0.058%	$513K	$1.7M	10x	as long as short
Extended CFX-USD	+0.0104%	1h	0.05402	−0.190%	$869	$268K	10x	as long as short
Coinbase International CFX-PERP-INTXlong	+0.0248%	1h	0.05412	long leg	$43K	$125K	50x
Hyperliquid CFX	+0.0787%	1h	0.05416	+0.081%	$3.2M	$360K	5x	as long as short
Kraken Futures PF_CFXUSD	+0.1423%	1h	0.05412	−0.006%	$33K	$11K	20x	as long as short
Deribit CFX_USDC-PERPETUAL	+0.2889%	1h	0.05432	+0.370%	$143	$29	10x	as long as short