Funding arb · Price arb /

FET

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0094%/8h= +10.3% APRpaid last 24h +0.026%

Price spread now: Orderly against gTrade (Gains Network)−0.116%7-day average — · you buy dearer than you sell

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

Long on gTrade (Gains Network)Short on Orderly

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

Funding pays, the price is against you. Orderly is 0.116% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.116% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$12 on $10k: about 4.1 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) FET/USD	0.2022	L +0.0006% / S −0.0012%	pay 0.0001% / 1h	10m 00s	$32K	—	150x
Short	Orderly PERP_FET_USDC	0.2020	0.0100	get 0.0100% / 8h	1h 10m	$37K	$5K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee OrderlybpOrdersPrice spread, now −0.116%Rate

Funding earned: $19.75
Price spread: −0.116% → 0.000%: −$11.62
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$7.87
Costs to cover: 0.160%
Break-even: 9.8 days

Slippage unknown: gTrade (Gains Network): no order-book sample; Orderly: 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

gTrade (Gains Network) and Orderly: 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	−0.3693%	1h	0.2021	−0.067%	$27K	$200K	10x	as long as short
Coinbase International FET-PERP-INTX	−0.0744%	1h	0.2024	+0.082%	$151K	$202K	50x	as long as short
gTrade (Gains Network) FET/USDlong	L +0.0006% / S −0.0012%	1h	0.2022	long leg	$32K	—	150x
Gate FET_USDT	+0.0067%	8h	0.2021	−0.067%	$2.7M	$12.0M	50x	as long as short
Aster FETUSDT	+0.0100%	8h	0.2023	+0.030%	$344K	$535K	10x	as long as short
Binance FETUSDT	+0.0100%	8h	0.2023	+0.044%	$31.6M	$107.6M	75x	as long as short
MEXC FET_USDT	+0.0100%	8h	0.2023	+0.032%	$34.6M	$25.1M	200x	as long as short
KuCoin FETUSDTM	+0.0100%	8h	0.2022	−0.017%	$10.5M	$19.1M	50x	as long as short
Variational Omni FET	+0.0100%	8h	0.2023	+0.043%	$285K	$327K	—	as long as short
Orderly PERP_FET_USDCshort	+0.0100%	8h	0.2020	−0.116%	$37K	$5K	10x

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended FET-USD	+0.0104%	1h	0.2021	−0.088%	$34K	$190K	10x	as long as short
OKX FET-USDT-SWAP	+0.0184%	4h	0.2026	+0.180%	$879K	$7.6M	20x	as long as short
GMX FET/USD [ETH-USDC]	L +0.0201% / S −0.0278%	1h	0.2021	−0.090%	$13K	—	100x	as long as short
BloFin FET-USDT	+0.0220%	8h	0.2025	+0.131%	$1.7M	$2.6M	100x	as long as short
Hyperliquid FET	+0.0252%	1h	0.2026	+0.195%	$8.9M	$7.9M	5x	as long as short
BingX FET-USDT	+0.0317%	8h	0.2024	+0.082%	—	$5.6M	—	as long as short
Bitget FETUSDT	+0.0330%	8h	0.2025	+0.131%	$16.4M	$11.4M	75x	as long as short
Kraken Futures PF_FETUSD	+0.0358%	1h	0.2024	+0.092%	$1.0M	$2.2M	50x	as long as short
Injective FET/USDC PERP	+0.0553%	1h	0.2010	−0.611%	$3K	$166K	12x	as long as short
Phoenix FET	+0.0599%	1h	0.2019	−0.171%	$35K	$36K	5x	as long as short