Funding arb · Price arb /

FET

all FET markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.1084%/8h= +118.7% APRpaid last 24h +0.024%

Price spread now: Gate against Coinbase International−0.339%7-day average −0.389% · you buy dearer than you sell

Net, funding: paid 7d − costs−$142as in the Funding arb table

Net, price: spread back to 7d avg − costs−$150as in the Price arb table

costs, in and out, $10k−$1541.545% of the position

Long on Coinbase International Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.127%+$13 on $10k

Price spread, last 4 days (all we have)+0.448%+$45 · spread now −0.339%, 7d avg −0.389%

Together, before fees+0.575%+$57 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$33 a day on $10k at the current rate, and Gate is 0.050% dearer against Coinbase International than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.389%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.127% in total (about 6.6% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International FET-PERP-INTX	0.2062	−0.0984	get 0.0123% / 1h	54m 13s	$150K	$235K	50x
Short	Gate FET_USDT	0.2055	0.0100	get 0.0100% / 8h	4h 54m	$2.8M	$12.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Coinbase International. 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 Coinbase InternationalbpFee GatebpOrdersPrice spread, now −0.339%Rate

Funding earned: $227.64
Price spread: −0.339% → −0.389%: $4.95
Slippage, 4 orders: −$129.46
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: $78.13
Costs to cover: 1.545%
Break-even: 4.6 days

Slippage from Coinbase International: live order book, 4 min ago; Gate: live order book, 4 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 Coinbase International live order book, 4 min ago	9.80 bp	64.0 bp −$64	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 4 min ago	2.44 bp	14.4 bp −$14	50.4 bp −$504	84.6 bp −$8,461	doesn't fit

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	−0.3146%	1h	0.2054	−0.388%	$39K	$304K	10x	as long as short
Coinbase International FET-PERP-INTXlong	−0.0984%	1h	0.2062	long leg	$150K	$235K	50x
Kraken Futures PF_FETUSD	−0.0447%	1h	0.2056	−0.294%	$1.0M	$2.2M	50x	as long as short
gTrade (Gains Network) FET/USD	L +0.0006% / S −0.0015%	1h	0.2055	−0.352%	$23K	—	150x	as long as short
Injective FET/USDC PERP	+0.0033%	1h	0.2010	−2.522%	$3K	$166K	12x	as long as short
Hyperliquid FET	+0.0100%	1h	0.2057	−0.222%	$9.0M	$8.4M	5x	as long as short
Aster FETUSDT	+0.0100%	8h	0.2058	−0.207%	$212K	$791K	10x	as long as short
Binance FETUSDT	+0.0100%	8h	0.2053	−0.419%	$31.8M	$112.6M	75x	as long as short
Gate FET_USDTshort	+0.0100%	8h	0.2055	−0.339%	$2.8M	$12.4M	50x
MEXC FET_USDT	+0.0100%	8h	0.2053	−0.436%	$30.7M	$23.9M	200x	as long as short

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin FETUSDTM	+0.0100%	8h	0.2053	−0.436%	$10.8M	$18.8M	50x	as long as short
Variational Omni FET	+0.0100%	8h	0.2066	+0.202%	$345K	$423K	—	as long as short
Orderly PERP_FET_USDC	+0.0100%	8h	0.2052	−0.485%	$38K	$7K	10x	as long as short
Extended FET-USD	+0.0104%	1h	0.2053	−0.423%	$36K	$249K	10x	as long as short
OKX FET-USDT-SWAP	+0.0200%	4h	0.2057	−0.242%	$1.1M	$8.3M	20x	as long as short
GMX FET/USD [ETH-USDC]	L +0.0202% / S −0.0278%	1h	0.2054	−0.392%	$14K	—	100x	as long as short
BloFin FET-USDT	+0.0220%	8h	0.2061	−0.048%	$1.8M	$3.1M	100x	as long as short
BingX FET-USDT	+0.0333%	8h	0.2054	−0.388%	—	$6.0M	—	as long as short
Bitget FETUSDT	+0.0347%	8h	0.2055	−0.339%	$16.7M	$11.8M	75x	as long as short
Phoenix FET	+0.0669%	1h	0.2055	−0.330%	$36K	$39K	5x	as long as short