Funding arb · Price arb /

DOT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0708%/8h= −77.5% APRpaid last 24h −0.091%

Price spread now: Coinbase International against Gate+0.084%7-day average +0.030% · you sell dearer than you buy

Net, funding: paid 7d − costs−$91as in the Funding arb table

Net, price: spread back to 7d avg − costs−$62as in the Price arb table

costs, in and out, $10k−$680.679% of the position

Long on Gate Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.229%−$23 on $10k

Price spread, last 4 days (all we have)−0.128%−$13 · spread now +0.084%, 7d avg +0.030%

Together, before fees−0.358%−$36 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 0.054% dearer against Gate than usual: you sell high and buy low (spread +0.084% now, against its 7-day average of +0.030%): +$5 on $10k if it goes back. Holding the pair costs −$21 a day in funding at the current rate, which eats that in about 6 hours. At the pace of the last 7 days (−0.229% in total) that is about 40 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.229% in total (about -12.0% 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	Gate DOT_USDT	1.1850	0.0100	pay 0.0100% / 8h	4h 32m	$6.6M	$11.8M	75x
Short	Coinbase International DOT-PERP-INTX	1.1860	−0.0608	pay 0.0076% / 1h	32m 06s	$195K	$1.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.084%Rate

Funding earned: −$148.68
Price spread: +0.084% → +0.030%: $5.4
Slippage, 4 orders: −$42.86
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$211.14
Costs to cover: 0.679%
Break-even: never at this rate

Slippage from Gate: live order book, 1 min ago; Coinbase International: 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 Gate live order book, 1 min ago	4.22 bp	11.7 bp −$12	30.3 bp −$303	69.5 bp −$6,955	doesn't fit
Sell Coinbase International live order book, 2 min ago	8.45 bp	13.5 bp −$13	18.1 bp −$181	doesn't fit	doesn't fit

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-PERPETUAL	−0.2274%	1h	1.1856	+0.051%	$228K	$116K	50x	as long as short
Coinbase International DOT-PERP-INTXshort	−0.0608%	1h	1.1860	+0.084%	$195K	$1.9M	50x
Reya DOTRUSDPERP	−0.0166%	1h	1.1841	−0.076%	$256	—	—	as long as short
dYdX DOT-USD	0.0000%	1h	1.1844	−0.051%	$143K	$6K	10x	as long as short
gTrade (Gains Network) DOT/USD	L 0.0000% / S +0.0004%	1h	1.1850	0.000%	$3K	—	150x	as long as short
Injective DOT/USDC PERP	+0.0033%	1h	1.2020	+1.435%	$328	$121K	12x	as long as short
OKX DOT-USDT-SWAP	+0.0093%	8h	1.1848	−0.017%	$9.4M	$24.3M	50x	as long as short
Lighter DOT	+0.0096%	1h	1.1854	+0.034%	$268K	$634K	10x	as long as short
Hyperliquid DOT	+0.0100%	1h	1.1851	+0.008%	$5.3M	$3.4M	10x	as long as short
Aster DOTUSDT	+0.0100%	8h	1.1846	−0.035%	$855K	$581K	50x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance DOTUSDT	+0.0100%	8h	1.1853	+0.021%	$43.6M	$85.3M	75x	as long as short
Bybit DOTUSDT	+0.0100%	8h	1.1849	−0.008%	$24.3M	$19.0M	75x	as long as short
Gate DOT_USDTlong	+0.0100%	8h	1.1850	long leg	$6.6M	$11.8M	75x
MEXC DOT_USDT	+0.0100%	8h	1.1852	+0.017%	$26.8M	$52.1M	300x	as long as short
KuCoin DOTUSDTM	+0.0100%	8h	1.1851	+0.008%	$6.4M	$9.2M	75x	as long as short
Bitget DOTUSDT	+0.0100%	8h	1.1844	−0.051%	$22.6M	$14.8M	75x	as long as short
BingX DOT-USDT	+0.0100%	8h	1.1850	0.000%	—	$29.7M	—	as long as short
Backpack DOT_USDC_PERP	+0.0100%	1h	1.1850	0.000%	$92K	$131K	10x	as long as short
Variational Omni DOT	+0.0100%	8h	1.1783	−0.562%	$536K	$58K	—	as long as short
edgeX DOTUSDC	+0.0100%	4h	1.1808	−0.358%	$35K	$335K	20x	as long as short
GRVT DOT_USDT_Perp	+0.0100%	8h	1.1810	−0.339%	$235K	$420K	10x	as long as short
Orderly PERP_DOT_USDC	+0.0100%	8h	1.1840	−0.084%	$8K	$24K	10x	as long as short
SunX DOT-USDT	+0.0100%	8h	1.1864	+0.118%	$2K	$1.3M	20x	as long as short
HTX DOT-USDT	+0.0100%	8h	1.1812	−0.321%	$257K	$242K	75x	as long as short
Extended DOT-USD	+0.0104%	1h	1.1843	−0.056%	$17K	$304K	25x	as long as short
Phemex DOTUSDT	+0.0151%	8h	1.1860	+0.084%	$2.3M	$2.2M	50x	as long as short
Kraken Futures PF_DOTUSD	+0.0214%	1h	1.1853	+0.027%	$4.4M	$1.5M	50x	as long as short
BloFin DOT-USDT	+0.0220%	8h	1.1829	−0.177%	$2.2M	$885K	75x	as long as short
GMX DOT/USD [WBTC.b-USDC]	L +0.0302% / S −0.1012%	1h	1.1849	−0.008%	$22K	—	100x	as long as short