Funding arb · Price arb /

DRIFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Binance against Bitget+0.166%7-day average −0.052% · you sell dearer than you buy

Net, funding: paid 7d − costs−$547as in the Funding arb table

Net, price: spread back to 7d avg − costs−$525as in the Price arb table

costs, in and out, $10k−$5465.464% of the position

Long on Bitget Short on Binance

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−0.314%−$31 · spread now +0.166%, 7d avg −0.052%

Together, before fees−0.315%−$32 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: Binance is 0.217% dearer against Bitget than usual: you sell high and buy low, +$22 on $10k if it goes back to its 7-day average of −0.052%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget DRIFTUSDT	0.01810	0.0100	pay 0.0050% / 4h	3h 08m	$556K	$370K	10x
Short	Binance DRIFTUSDT	0.01813	0.0100	get 0.0050% / 4h	3h 08m	$2.5M	$6.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Bitget. 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 BitgetbpFee BinancebpOrdersPrice spread, now +0.166%Rate

Funding earned: $0
Price spread: +0.166% → −0.052%: $21.73
Slippage, 4 orders: −$524.43
Fee Bitget: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$524.7
Costs to cover: 5.464%
Break-even: never at this rate

Slippage from Bitget: live order book, 41 min ago; Binance: live order book, 15 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 Bitget live order book, 41 min ago	11.13 bp	221.8 bp −$222	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 15 min ago	5.46 bp	43.0 bp −$43	269.5 bp −$2,695	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	−12.099%	—	$9K	5.5x	as long as short
BloFin DRIFT-USDT	+0.0067%	4h	0.01811	+0.055%	$163K	$10K	20x	as long as short
Binance DRIFTUSDTshort	+0.0100%	4h	0.01813	+0.166%	$2.5M	$6.6M	20x
Bybit DRIFTUSDT	+0.0100%	4h	0.01810	−0.022%	$2.4M	$2.8M	20x	as long as short
Gate DRIFT_USDT	+0.0100%	4h	0.01809	−0.055%	$123K	$246K	10x	as long as short
MEXC DRIFT_USDT	+0.0100%	4h	0.01809	−0.055%	$429K	$170K	20x	as long as short
KuCoin DRIFTUSDTM	+0.0100%	4h	0.01807	−0.166%	$696K	$128K	20x	as long as short
Bitget DRIFTUSDTlong	+0.0100%	4h	0.01810	long leg	$556K	$370K	10x
BingX DRIFT-USDT	+0.0100%	4h	0.01813	+0.166%	—	$6.6M	—	as long as short
Variational Omni DRIFT	+0.0100%	4h	0.01813	+0.175%	$24K	$6K	—	as long as short