Funding arb · Price arb /

FIL

all FIL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0476%/8h= +52.1% APRpaid last 24h +0.111%

Price spread now: Gate against Coinbase International+0.040%50s7-day average −0.093% · you sell dearer than you buy

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$550.551% 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+0.171%+$17 on $10k

Price spread, last 3 days (all we have)−0.120%−$12 · spread now +0.040%, 7d avg −0.093%

Together, before fees+0.051%+$5 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$14 a day on $10k at the current rate, and Gate is 0.133% dearer against Coinbase International than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of −0.093%. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.171% in total (about 8.9% 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 FIL-PERP-INTX	0.9900	−0.0376	get 0.0047% / 1h	17m 19s	$318K	$1.9M	50x
Short	Gate FIL_USDT	0.9904	0.0100	get 0.0100% / 8h	1h 17m	$7.9M	$16.3M	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 +0.040%Rate

Funding earned: $99.96
Price spread: +0.040% → −0.093%: $13.33
Slippage, 4 orders: −$30.14
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: $58.14
Costs to cover: 0.551%
Break-even: 2.9 days

Slippage from Coinbase International: live order book, 1 min ago; Gate: live order book, 1 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, 1 min ago	5.05 bp	12.1 bp −$12	16.0 bp −$160	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	1.51 bp	12.5 bp −$13	19.0 bp −$190	61.7 bp −$6,169	105.9 bp −$53.0K

FIL on 29 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 FIL_USDC-PERPETUAL	−0.0960%	1h	0.9907	+0.071%	$171K	$23K	25x	as long as short
Kraken Futures PF_FILUSD	−0.0693%	1h	0.9900	+0.003%	$1.3M	$2.3M	50x	as long as short
Coinbase International FIL-PERP-INTXlong	−0.0376%	1h	0.9900	long leg	$318K	$1.9M	50x
Injective FIL/USDC PERP	−0.0252%	1h	0.9855	−0.455%	$2K	$240K	12x	as long as short
gTrade (Gains Network) FIL/USD	L −0.0004% / S +0.0006%	1h	0.9907	+0.068%	$25K	—	150x	as long as short
dYdX FIL-USD	0.0000%	1h	0.9909	+0.093%	$58K	$2K	10x	as long as short
Bitget FILUSDT	+0.0001%	8h	0.9899	−0.010%	$10.8M	$21.6M	75x	as long as short
KuCoin FILUSDTM	+0.0011%	8h	0.9904	+0.040%	$7.4M	$7.0M	50x	as long as short
Bybit FILUSDT	+0.0028%	8h	0.9903	+0.030%	$15.4M	$18.1M	25x	as long as short
OKX FIL-USDT-SWAP	+0.0036%	8h	0.9903	+0.030%	$18.2M	$98.0M	50x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC FIL_USDC	+0.0078%	8h	0.9901	+0.010%	$252K	$105K	50x	as long as short
Binance FILUSDT	+0.0079%	8h	0.9903	+0.025%	$57.2M	$176.0M	75x	as long as short
Extended FIL-USD	+0.0080%	1h	0.9901	+0.006%	$692K	$2.3M	10x	as long as short
BingX FIL-USDT	+0.0080%	8h	0.9903	+0.030%	—	$11.9M	—	as long as short
Lighter FIL	+0.0096%	1h	0.9900	−0.001%	$159K	$349K	5x	as long as short
Hyperliquid FIL	+0.0100%	1h	0.9904	+0.040%	$8.6M	$9.5M	5x	as long as short
Aster FILUSDT	+0.0100%	8h	0.9909	+0.090%	$498K	$525K	20x	as long as short
Gate FIL_USDTshort	+0.0100%	8h	0.9904	+0.040%	$7.9M	$16.3M	50x
Variational Omni FIL	+0.0100%	8h	0.9897	−0.028%	$441K	$277K	—	as long as short
edgeX FILUSDC	+0.0100%	4h	0.9899	−0.007%	$45K	$293K	10x	as long as short
GRVT FIL_USDT_Perp	+0.0100%	8h	0.9907	+0.076%	$288K	$790K	10x	as long as short
ApeX Omni FILUSDT	+0.0100%	1h	0.9900	0.000%	$30K	$197K	50x	as long as short
Orderly PERP_FIL_USDC_mythos	+0.0100%	4h	0.9915	+0.151%	$5K	—	10x	as long as short
SunX FIL-USDT	+0.0100%	8h	0.9900	0.000%	$3K	$1.1M	20x	as long as short
SoDEX FIL-USD	+0.0100%	1h	0.9901	+0.010%	$493	$11K	5x	as long as short
HTX FIL-USDT	+0.0100%	8h	0.9901	+0.010%	$629K	$5.6M	75x	as long as short
Phemex FILUSDT	+0.0100%	8h	0.9900	0.000%	$1.1M	$2.3M	50x	as long as short
BloFin FIL-USDT	+0.0200%	8h	0.9911	+0.111%	$2.6M	$658K	75x	as long as short
GMX FIL/USD [WBTC.b-USDC]	L +0.0599% / S −0.0709%	1h	0.9906	+0.057%	$207K	—	100x	as long as short