Funding arb · Price arb /

ERA

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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 +0.055%

Price spread now: Bybit against Gate+0.103%7-day average −0.061% · you sell dearer than you buy

Net, funding: paid 7d − costs−$271as in the Funding arb table

Net, price: spread back to 7d avg − costs−$253as in the Price arb table

costs, in and out, $10k−$2702.695% of the position

Long on Gate Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.015%−$2 on $10k

Price spread, last 4 days (all we have)+0.063%+$6 · spread now +0.103%, 7d avg −0.061%

Together, before fees+0.048%+$5 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: Bybit is 0.164% dearer against Gate than usual: you sell high and buy low, +$16 on $10k if it goes back to its 7-day average of −0.061%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ERA_USDT	0.06793	0.0100	pay 0.0050% / 4h	1h 20m	$149K	$689K	25x
Short	Bybit ERAUSDT	0.06800	0.0100	get 0.0050% / 4h	1h 20m	$772K	$817K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.103%Rate

Funding earned: $0
Price spread: +0.103% → −0.061%: $16.38
Slippage, 4 orders: −$243.53
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$253.16
Costs to cover: 2.695%
Break-even: never at this rate

Slippage from Gate: live order book, 41 min ago; Bybit: live order book, 39 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, 41 min ago	8.85 bp	56.8 bp −$57	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 39 min ago	5.90 bp	67.7 bp −$68	doesn't fit	doesn't fit	doesn't fit

ERA 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
Aster ERAUSDT	+0.0100%	4h	0.06792	−0.017%	$5K	$12K	5x	as long as short
Binance ERAUSDT	+0.0100%	4h	0.06800	+0.103%	$2.1M	$4.5M	25x	as long as short
Bybit ERAUSDTshort	+0.0100%	4h	0.06800	+0.103%	$772K	$817K	25x
Gate ERA_USDTlong	+0.0100%	4h	0.06793	long leg	$149K	$689K	25x
MEXC ERA_USDT	+0.0100%	4h	0.06801	+0.118%	$536K	$151K	20x	as long as short
KuCoin ERAUSDTM	+0.0100%	4h	0.06791	−0.029%	$138K	$65K	25x	as long as short
Bitget ERAUSDT	+0.0100%	4h	0.06813	+0.294%	$823K	$237K	25x	as long as short
BingX ERA-USDT	+0.0100%	4h	0.06800	+0.103%	—	$6.5M	—	as long as short
Variational Omni ERA	+0.0100%	4h	0.06805	+0.173%	$10K	$594	—	as long as short