Funding arb · Price arb /

FET

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0087%/8h= −9.6% APRpaid last 24h −0.027%

Price spread now: gTrade (Gains Network) against Binance−0.166%7-day average — · you buy dearer than you sell

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

Long on Binance Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and gTrade (Gains Network) is 0.166% cheaper against Binance than usual: you would sell low and buy high (−$17 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance FETUSDT	0.2036	0.0100	pay 0.0100% / 8h	5m 36s	$31.8M	$109.3M	75x
Short	gTrade (Gains Network) FET/USD	0.2033	L +0.0006% / S −0.0013%	get 0.0002% / 1h	5m 36s	$32K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now −0.166%Rate

Funding earned: −$18.36
Price spread: −0.166% → 0.000%: −$16.55
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$54.91
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 7 min ago; gTrade (Gains Network): no order-book sample. 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 Binance live order book, 7 min ago	2.45 bp	11.3 bp −$11	23.3 bp −$233	172.9 bp −$17.3K	doesn't fit
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

gTrade (Gains Network): no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

FET on 20 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
Deribit FET_USDC-PERPETUAL	−0.2693%	1h	0.2033	−0.147%	$29K	$201K	10x	as long as short
Coinbase International FET-PERP-INTX	−0.0728%	1h	0.2043	+0.344%	$152K	$207K	50x	as long as short
Kraken Futures PF_FETUSD	−0.0478%	1h	0.2038	+0.110%	$995K	$2.2M	50x	as long as short
gTrade (Gains Network) FET/USDshort	L +0.0006% / S −0.0013%	1h	0.2033	−0.166%	$32K	—	150x
Injective FET/USDC PERP	+0.0033%	1h	0.2010	−1.277%	$3K	$166K	12x	as long as short
Gate FET_USDT	+0.0057%	8h	0.2034	−0.098%	$2.8M	$12.2M	50x	as long as short
Aster FETUSDT	+0.0100%	8h	0.2037	+0.055%	$338K	$544K	10x	as long as short
Binance FETUSDTlong	+0.0100%	8h	0.2036	long leg	$31.8M	$109.3M	75x
MEXC FET_USDT	+0.0100%	8h	0.2036	0.000%	$34.4M	$25.1M	200x	as long as short
KuCoin FETUSDTM	+0.0100%	8h	0.2036	0.000%	$10.7M	$19.2M	50x	as long as short

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni FET	+0.0100%	8h	0.2033	−0.136%	$358K	$399K	—	as long as short
Orderly PERP_FET_USDC	+0.0100%	8h	0.2033	−0.147%	$38K	$6K	10x	as long as short
Extended FET-USD	+0.0104%	1h	0.2036	−0.021%	$33K	$191K	10x	as long as short
GMX FET/USD [ETH-USDC]	L +0.0201% / S −0.0278%	1h	0.2032	−0.194%	$14K	—	100x	as long as short
BloFin FET-USDT	+0.0220%	8h	0.2039	+0.147%	$1.7M	$2.7M	100x	as long as short
BingX FET-USDT	+0.0287%	8h	0.2036	0.000%	—	$5.7M	—	as long as short
OKX FET-USDT-SWAP	+0.0293%	4h	0.2039	+0.147%	$994K	$7.9M	20x	as long as short
Bitget FETUSDT	+0.0299%	8h	0.2039	+0.147%	$16.4M	$11.5M	75x	as long as short
Hyperliquid FET	+0.0411%	1h	0.2038	+0.113%	$9.0M	$8.0M	5x	as long as short
Phoenix FET	+0.0508%	1h	0.2047	+0.565%	$36K	$45K	5x	as long as short