Funding arb · Price arb /

DOT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.3612%/8h= +395.5% APRpaid last 24h +0.297%

Price spread now: Gate against Deribit−0.026%51s7-day average −0.070% · you buy dearer than you sell

Net, funding: paid 7d − costs+$35as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$630.635% of the position

Long on Deribit Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.989%+$99 on $10k

Price spread, last 4 days (all we have)−0.024%−$2 · spread now −0.026%, 7d avg −0.070%

Together, before fees+0.965%+$96 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$108 a day on $10k at the current rate, and Gate is 0.044% dearer against Deribit than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.070%. The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.989% in total (about 51.6% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit DOT_USDC-PERPETUAL	1.1653	−0.3512	get 0.0439% / 1h	43m 20s	$247K	$152K	50x
Short	Gate DOT_USDT	1.1650	0.0100	get 0.0100% / 8h	43m 20s	$6.6M	$12.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Deribit. 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 DeribitbpFee GatebpOrdersPrice spread, now −0.026%Rate

Funding earned: $758.52
Price spread: −0.026% → −0.070%: $4.39
Slippage, 4 orders: −$41.48
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Gate: 7.5 bp × 2 orders: −$15
Net: $699.43
Costs to cover: 0.635%
Break-even: 0.5 days

Slippage from Deribit: live order book, 60 min ago; Gate: live order book, 5 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 Deribit live order book, 60 min ago	8.15 bp	13.3 bp −$13	21.4 bp −$214	doesn't fit	doesn't fit
Sell Gate live order book, 5 min ago	4.29 bp	18.8 bp −$19	37.5 bp −$375	70.9 bp −$7,089	218.5 bp −$109.3K

DOT on 29 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
Deribit DOT_USDC-PERPETUALlong	−0.3512%	1h	1.1653	long leg	$247K	$152K	50x
Reya DOTRUSDPERP	−0.0166%	1h	1.1646	−0.056%	$252	—	—	as long as short
Coinbase International DOT-PERP-INTX	−0.0104%	1h	1.1640	−0.112%	$169K	$2.0M	50x	as long as short
gTrade (Gains Network) DOT/USD	L 0.0000% / S +0.0004%	1h	1.1646	−0.061%	$3K	—	150x	as long as short
dYdX DOT-USD	+0.0003%	1h	1.1654	+0.006%	$140K	$6K	10x	as long as short
Injective DOT/USDC PERP	+0.0033%	1h	1.2020	+3.149%	$328	$121K	12x	as long as short
Lighter DOT	+0.0096%	1h	1.1649	−0.038%	$244K	$674K	10x	as long as short
Hyperliquid DOT	+0.0100%	1h	1.1650	−0.026%	$5.6M	$4.6M	10x	as long as short
Aster DOTUSDT	+0.0100%	8h	1.1651	−0.020%	$839K	$606K	50x	as long as short
Binance DOTUSDT	+0.0100%	8h	1.1651	−0.020%	$42.6M	$88.8M	75x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit DOTUSDT	+0.0100%	8h	1.1642	−0.094%	$23.6M	$20.2M	75x	as long as short
OKX DOT-USDT-SWAP	+0.0100%	8h	1.1643	−0.086%	$9.0M	$25.3M	50x	as long as short
Gate DOT_USDTshort	+0.0100%	8h	1.1650	−0.026%	$6.6M	$12.9M	75x
MEXC DOT_USDT	+0.0100%	8h	1.1651	−0.017%	$37.0M	$62.5M	300x	as long as short
KuCoin DOTUSDTM	+0.0100%	8h	1.1653	0.000%	$6.1M	$9.4M	75x	as long as short
Bitget DOTUSDT	+0.0100%	8h	1.1650	−0.026%	$22.4M	$14.6M	75x	as long as short
BingX DOT-USDT	+0.0100%	8h	1.1648	−0.043%	—	$9.5M	—	as long as short
Backpack DOT_USDC_PERP	+0.0100%	1h	1.1642	−0.094%	$88K	$130K	10x	as long as short
Variational Omni DOT	+0.0100%	8h	1.1646	−0.058%	$530K	$50K	—	as long as short
edgeX DOTUSDC	+0.0100%	4h	1.1662	+0.074%	$34K	$337K	20x	as long as short
GRVT DOT_USDT_Perp	+0.0100%	8h	1.1650	−0.025%	$223K	$432K	10x	as long as short
Orderly PERP_DOT_USDC	+0.0100%	8h	1.1650	−0.026%	$8K	$19K	10x	as long as short
SunX DOT-USDT	+0.0100%	8h	1.1665	+0.103%	$2K	$1.3M	20x	as long as short
HTX DOT-USDT	+0.0100%	8h	1.1643	−0.086%	$262K	$282K	75x	as long as short
Extended DOT-USD	+0.0104%	1h	1.1651	−0.016%	$13K	$268K	25x	as long as short
Phemex DOTUSDT	+0.0210%	8h	1.1660	+0.060%	$2.4M	$2.2M	50x	as long as short
BloFin DOT-USDT	+0.0220%	8h	1.1651	−0.017%	$1.9M	$896K	75x	as long as short
GMX DOT/USD [WBTC.b-USDC]	L +0.0291% / S −0.0937%	1h	1.1648	−0.047%	$20K	—	100x	as long as short
Kraken Futures PF_DOTUSD	+0.0338%	1h	1.1649	−0.038%	$4.3M	$1.5M	50x	as long as short