Funding arb · Price arb /

DRIFT

all DRIFT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bitget against Binance−0.058%7-day average +0.055% · you buy dearer than you sell

Net, funding: paid 7d − costs−$460as in the Funding arb table

Net, price: spread back to 7d avg − costs−$472as in the Price arb table

costs, in and out, $10k−$4604.603% of the position

Long on Binance Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.002%$0 on $10k

Price spread, last 7 days+0.176%+$18 · spread now −0.058%, 7d avg +0.055%

Together, before fees+0.178%+$18 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: Bitget is 0.113% cheaper against Binance than usual: you would sell low and buy high, −$11 on $10k if it goes back to its 7-day average of +0.055%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance DRIFTUSDT	0.01730	0.0100	pay 0.0050% / 4h	2h 57m	$2.3M	$6.8M	20x
Short	Bitget DRIFTUSDT	0.01729	0.0100	get 0.0050% / 4h	2h 57m	$533K	$362K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Binance. 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 BinancebpFee BitgetbpOrdersPrice spread, now −0.058%Rate

Funding earned: $0
Price spread: −0.058% → +0.055%: −$11.32
Slippage, 4 orders: −$438.3
Fee Binance: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$471.62
Costs to cover: 4.603%
Break-even: never at this rate

Slippage from Binance: live order book, 12 min ago; Bitget: live order book, 8 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 Binance live order book, 12 min ago	2.88 bp	42.2 bp −$42	488.8 bp −$4,888	doesn't fit	doesn't fit
Sell Bitget live order book, 8 min ago	8.64 bp	186.1 bp −$186	doesn't fit	doesn't fit	doesn't fit

DRIFT on 10 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
Injective DRIFT/USDC PERP	+0.0033%	1h	0.01591	−8.035%	—	$9K	5.5x	as long as short
BloFin DRIFT-USDT	+0.0054%	4h	0.01731	+0.058%	$153K	$10K	20x	as long as short
Binance DRIFTUSDTlong	+0.0100%	4h	0.01730	long leg	$2.3M	$6.8M	20x
Bybit DRIFTUSDT	+0.0100%	4h	0.01725	−0.289%	$2.3M	$2.9M	20x	as long as short
Gate DRIFT_USDT	+0.0100%	4h	0.01727	−0.173%	$124K	$238K	10x	as long as short
MEXC DRIFT_USDT	+0.0100%	4h	0.01729	−0.058%	$413K	$169K	20x	as long as short
KuCoin DRIFTUSDTM	+0.0100%	4h	0.01722	−0.462%	$680K	$128K	20x	as long as short
Bitget DRIFTUSDTshort	+0.0100%	4h	0.01729	−0.058%	$533K	$362K	10x
BingX DRIFT-USDT	+0.0100%	4h	0.01724	−0.347%	—	$6.6M	—	as long as short
Variational Omni DRIFT	+0.0100%	4h	0.01725	−0.278%	$23K	$6K	—	as long as short