Funding arb · Price arb /

FIL

all FIL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0356%/8h= −39.0% APRpaid last 24h −0.127%

Price spread now: Coinbase International against Gate0.000%7-day average +0.090% · you sell dearer than you buy

Net, funding: paid 7d − costs−$80as in the Funding arb table

Net, price: spread back to 7d avg − costs−$70as in the Price arb table

costs, in and out, $10k−$610.615% of the position

Long on Gate Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.182%−$18 on $10k

Price spread, last 4 days (all we have)+0.076%+$8 · spread now 0.000%, 7d avg +0.090%

Together, before fees−0.106%−$11 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and Coinbase International is 0.090% cheaper against Gate than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of +0.090%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.182% in total (about -9.5% 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	Gate FIL_USDT	1.0100	0.0100	pay 0.0100% / 8h	5h 17m	$8.6M	$16.5M	50x
Short	Coinbase International FIL-PERP-INTX	1.0100	−0.0256	pay 0.0032% / 1h	17m 10s	$380K	$2.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now 0.000%Rate

Funding earned: −$74.76
Price spread: 0.000% → +0.090%: −$8.96
Slippage, 4 orders: −$36.5
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$145.22
Costs to cover: 0.615%
Break-even: never at this rate

Slippage from Gate: live order book, 2 min ago; Coinbase International: live order book, 2 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, 2 min ago	1.98 bp	19.4 bp −$19	32.5 bp −$325	57.5 bp −$5,749	88.8 bp −$44.4K
Sell Coinbase International live order book, 2 min ago	4.96 bp	14.6 bp −$15	20.6 bp −$206	doesn't fit	doesn't fit

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
Coinbase International FIL-PERP-INTXshort	−0.0256%	1h	1.0100	0.000%	$380K	$2.2M	50x
Kraken Futures PF_FILUSD	−0.0126%	1h	1.0106	+0.057%	$1.4M	$2.3M	50x	as long as short
OKX FIL-USDT-SWAP	−0.0059%	8h	1.0098	−0.020%	$19.2M	$102.0M	50x	as long as short
KuCoin FILUSDTM	−0.0021%	8h	1.0098	−0.020%	$7.5M	$7.2M	50x	as long as short
gTrade (Gains Network) FIL/USD	L −0.0003% / S +0.0006%	1h	1.0102	+0.024%	$27K	—	150x	as long as short
dYdX FIL-USD	0.0000%	1h	1.0090	−0.099%	$59K	$2K	10x	as long as short
Deribit FIL_USDC-PERPETUAL	0.0000%	1h	1.0108	+0.079%	$174K	$23K	25x	as long as short
Injective FIL/USDC PERP	+0.0033%	1h	0.9855	−2.426%	$2K	$240K	12x	as long as short
Extended FIL-USD	+0.0072%	1h	1.0099	−0.013%	$712K	$3.3M	10x	as long as short
Binance FILUSDT	+0.0072%	8h	1.0101	+0.014%	$58.8M	$178.5M	75x	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	+0.0090%	8h	1.0090	−0.099%	$245K	$104K	50x	as long as short
Lighter FIL	+0.0096%	1h	1.0097	−0.028%	$160K	$353K	5x	as long as short
Hyperliquid FIL	+0.0100%	1h	1.0099	−0.010%	$8.7M	$9.4M	5x	as long as short
Aster FILUSDT	+0.0100%	8h	1.0105	+0.053%	$513K	$577K	20x	as long as short
Bybit FILUSDT	+0.0100%	8h	1.0097	−0.030%	$15.9M	$19.5M	25x	as long as short
Gate FIL_USDTlong	+0.0100%	8h	1.0100	long leg	$8.6M	$16.5M	50x
Bitget FILUSDT	+0.0100%	8h	1.0098	−0.020%	$11.0M	$19.9M	75x	as long as short
BingX FIL-USDT	+0.0100%	8h	1.0101	+0.010%	—	$11.8M	—	as long as short
Variational Omni FIL	+0.0100%	8h	1.0078	−0.216%	$454K	$265K	—	as long as short
edgeX FILUSDC	+0.0100%	4h	1.0080	−0.199%	$46K	$296K	10x	as long as short
GRVT FIL_USDT_Perp	+0.0100%	8h	1.0082	−0.182%	$293K	$896K	10x	as long as short
ApeX Omni FILUSDT	+0.0100%	1h	1.0090	−0.099%	$30K	$182K	50x	as long as short
Orderly PERP_FIL_USDC_mythos	+0.0100%	4h	1.0114	+0.143%	$5K	—	10x	as long as short
SunX FIL-USDT	+0.0100%	8h	1.0090	−0.099%	$3K	$1.1M	20x	as long as short
SoDEX FIL-USD	+0.0100%	1h	1.0096	−0.040%	$484	$11K	5x	as long as short
HTX FIL-USDT	+0.0100%	8h	1.0096	−0.040%	$637K	$5.8M	75x	as long as short
Phemex FILUSDT	+0.0100%	8h	1.0100	0.000%	$1.1M	$2.5M	50x	as long as short
BloFin FIL-USDT	+0.0192%	8h	1.0103	+0.030%	$2.8M	$651K	75x	as long as short
GMX FIL/USD [WBTC.b-USDC]	L +0.0577% / S −0.0237%	1h	1.0106	+0.063%	$270K	—	100x	as long as short