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: Binance against Gate0.000%7-day average +0.160% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Gate Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.080%−$8 on $10k

Price spread, last 7 days+0.279%+$28 · spread now 0.000%, 7d avg +0.160%

Together, before fees+0.199%+$20 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 0.160% cheaper against Gate than usual: you would sell low and buy high, −$16 on $10k if it goes back to its 7-day average of +0.160%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate DRIFT_USDT	0.01746	0.0100	pay 0.0050% / 4h	2h 11m	$124K	$240K	10x
Short	Binance DRIFTUSDT	0.01746	0.0100	get 0.0050% / 4h	2h 11m	$2.3M	$6.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → +0.160%: −$15.96
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Binance: 5 bp × 2 orders: −$10
Net: −$40.96
Costs to cover: 0.250%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 50 min ago; Binance: live order book, 12 min ago. Net counts fees only.

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, 50 min ago	8.70 bp	372.4 bp −$372	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 12 min ago	2.87 bp	39.9 bp −$40	279.4 bp −$2,794	doesn't fit	doesn't fit

DRIFT on 9 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	−8.877%	—	$9K	5.5x	as long as short
Binance DRIFTUSDTshort	+0.0100%	4h	0.01746	0.000%	$2.3M	$6.8M	20x
Bybit DRIFTUSDT	+0.0100%	4h	0.01745	−0.057%	$2.3M	$2.9M	20x	as long as short
Gate DRIFT_USDTlong	+0.0100%	4h	0.01746	long leg	$124K	$240K	10x
MEXC DRIFT_USDT	+0.0100%	4h	0.01745	−0.057%	$413K	$172K	20x	as long as short
KuCoin DRIFTUSDTM	+0.0100%	4h	0.01742	−0.229%	$685K	$128K	20x	as long as short
Bitget DRIFTUSDT	+0.0100%	4h	0.01745	−0.057%	$538K	$364K	10x	as long as short
BingX DRIFT-USDT	+0.0100%	4h	0.01748	+0.115%	—	$6.6M	—	as long as short
Variational Omni DRIFT	+0.0100%	4h	0.01746	+0.010%	$23K	$6K	—	as long as short