Funding arb · Price arb /

DRIFT

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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 Gate0.000%7-day average +0.215% · you sell dearer than you buy

Net, funding: paid 7d − costs−$3,293as in the Funding arb table

Net, price: spread back to 7d avg − costs−$3,306as in the Price arb table

costs, in and out, $10k−$3,28532.848% of the position

Long on Gate Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.078%−$8 on $10k

Price spread, last 7 days+0.397%+$40 · spread now 0.000%, 7d avg +0.215%

Together, before fees+0.318%+$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: Bitget is 0.215% cheaper against Gate than usual: you would sell low and buy high, −$21 on $10k if it goes back to its 7-day average of +0.215%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate DRIFT_USDT	0.01751	0.0100	pay 0.0050% / 4h	3h 44m	$129K	$238K	10x
Short	Bitget DRIFTUSDT	0.01751	0.0100	get 0.0050% / 4h	3h 44m	$540K	$360K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → +0.215%: −$21.46
Slippage, 4 orders: −$3,257.77
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$3,306.22
Costs to cover: 32.848%
Break-even: never at this rate

Slippage from Gate: live order book, 22 min ago; Bitget: live order book, 25 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, 22 min ago	5.81 bp	2107.1 bp −$2,107	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 25 min ago	8.70 bp	192.9 bp −$193	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	−9.138%	—	$9K	5.5x	as long as short
Binance DRIFTUSDT	+0.0100%	4h	0.01750	−0.031%	$2.3M	$6.8M	20x	as long as short
Bybit DRIFTUSDT	+0.0100%	4h	0.01750	−0.063%	$2.4M	$2.9M	20x	as long as short
Gate DRIFT_USDTlong	+0.0100%	4h	0.01751	long leg	$129K	$238K	10x
MEXC DRIFT_USDT	+0.0100%	4h	0.01750	−0.057%	$418K	$172K	20x	as long as short
KuCoin DRIFTUSDTM	+0.0100%	4h	0.01748	−0.171%	$692K	$128K	20x	as long as short
Bitget DRIFTUSDTshort	+0.0100%	4h	0.01751	0.000%	$540K	$360K	10x
BingX DRIFT-USDT	+0.0100%	4h	0.01751	0.000%	—	$6.6M	—	as long as short
Variational Omni DRIFT	+0.0100%	4h	0.01755	+0.213%	$23K	$6K	—	as long as short
BloFin DRIFT-USDT	+0.0153%	4h	0.01755	+0.228%	$153K	$10K	20x	as long as short