Funding arb · Price arb /

CROSS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bybit against Gate−0.013%7-day average +0.090% · you buy dearer than you sell

Net, funding: paid 7d − costs−$1,949as in the Funding arb table

Net, price: spread back to 7d avg − costs−$1,956as in the Price arb table

costs, in and out, $10k−$1,94619.455% of the position

Long on Gate Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.030%−$3 on $10k

Price spread, last 4 days (all we have)+0.071%+$7 · spread now −0.013%, 7d avg +0.090%

Together, before fees+0.041%+$4 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.104% cheaper against Gate than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of +0.090%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate CROSS_USDT	0.1484	0.0100	pay 0.0050% / 4h	37m 09s	$184K	$48K	20x
Short	Bybit CROSSUSDT	0.1484	0.0100	get 0.0050% / 4h	37m 09s	$676K	$681K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Gate. 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 GatebpFee BybitbpOrdersPrice spread, now −0.013%Rate

Funding earned: $0
Price spread: −0.013% → +0.090%: −$10.39
Slippage, 4 orders: −$1,919.51
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$1,955.9
Costs to cover: 19.455%
Break-even: never at this rate

Slippage from Gate: live order book, 34 min ago; Bybit: live order book, 37 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 Gate live order book, 34 min ago	12.84 bp	617.8 bp −$618	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 37 min ago	1.69 bp	152.9 bp −$153	doesn't fit	doesn't fit	doesn't fit

CROSS on 8 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
Binance CROSSUSDT	+0.0100%	4h	0.1485	+0.067%	$1.5M	$3.1M	40x	as long as short
Bybit CROSSUSDTshort	+0.0100%	4h	0.1484	−0.013%	$676K	$681K	20x
Gate CROSS_USDTlong	+0.0100%	4h	0.1484	long leg	$184K	$48K	20x
MEXC CROSS_USDT	+0.0100%	4h	0.1485	+0.061%	$320K	$158K	100x	as long as short
KuCoin CROSSUSDTM	+0.0100%	4h	0.1482	−0.155%	$271K	$30K	20x	as long as short
Bitget CROSSUSDT	+0.0100%	4h	0.1481	−0.216%	$1.2M	$208K	20x	as long as short
BingX CROSS-USDT	+0.0100%	4h	0.1484	+0.013%	—	$1.3M	—	as long as short
Variational Omni CROSS	+0.0100%	4h	0.1484	−0.019%	$682	$2K	—	as long as short