Funding arb · Price arb /

FIL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0862%/8h= −94.4% APRpaid last 24h −0.148%

Price spread now: Deribit against Gate+0.091%7-day average +0.055% · you sell dearer than you buy

Net, funding: paid 7d − costs−$89as in the Funding arb table

Net, price: spread back to 7d avg − costs−$56as in the Price arb table

costs, in and out, $10k−$600.596% of the position

Long on Gate Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.297%−$30 on $10k

Price spread, last 3 days (all we have)+0.011%+$1 · spread now +0.091%, 7d avg +0.055%

Together, before fees−0.287%−$29 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Deribit is 0.037% dearer against Gate than usual: you sell high and buy low (spread +0.091% now, against its 7-day average of +0.055%): +$4 on $10k if it goes back. Holding the pair costs −$26 a day in funding at the current rate, which eats that in about 3 hours. At the pace of the last 7 days (−0.297% in total) that is about 21 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.297% in total (about -15.5% 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	0.9864	0.0100	pay 0.0100% / 8h	7h 40m	$8.2M	$16.1M	50x
Short	Deribit FIL_USDC-PERPETUAL	0.9873	−0.0762	pay 0.0095% / 1h	40m 53s	$170K	$23K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.091%Rate

Funding earned: −$181.02
Price spread: +0.091% → +0.055%: $3.65
Slippage, 4 orders: −$37.56
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$236.93
Costs to cover: 0.596%
Break-even: never at this rate

Slippage from Gate: live order book, 3 min ago; Deribit: live order book, 33 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, 3 min ago	1.01 bp	18.1 bp −$18	29.0 bp −$290	45.8 bp −$4,579	75.0 bp −$37.5K
Sell Deribit live order book, 33 min ago	4.06 bp	7.6 bp −$8	doesn't fit	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
Deribit FIL_USDC-PERPETUALshort	−0.0762%	1h	0.9873	+0.091%	$170K	$23K	25x
Kraken Futures PF_FILUSD	−0.0332%	1h	0.9871	+0.072%	$1.3M	$2.4M	50x	as long as short
Coinbase International FIL-PERP-INTX	−0.0328%	1h	0.9870	+0.061%	$317K	$1.8M	50x	as long as short
KuCoin FILUSDTM	−0.0038%	8h	0.9860	−0.041%	$7.4M	$7.1M	50x	as long as short
OKX FIL-USDT-SWAP	−0.0030%	8h	0.9851	−0.132%	$17.9M	$98.6M	50x	as long as short
gTrade (Gains Network) FIL/USD	L −0.0004% / S +0.0006%	1h	0.9871	+0.073%	$25K	—	150x	as long as short
dYdX FIL-USD	0.0000%	1h	0.9885	+0.208%	$58K	$2K	10x	as long as short
Extended FIL-USD	+0.0032%	1h	0.9854	−0.106%	$691K	$3.1M	10x	as long as short
Injective FIL/USDC PERP	+0.0033%	1h	0.9855	−0.091%	$2K	$240K	12x	as long as short
Binance FILUSDT	+0.0035%	8h	0.9851	−0.135%	$56.8M	$179.0M	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	+0.0059%	8h	0.9855	−0.091%	$247K	$104K	50x	as long as short
Bitget FILUSDT	+0.0059%	8h	0.9856	−0.081%	$10.8M	$21.6M	75x	as long as short
Lighter FIL	+0.0096%	1h	0.9861	−0.028%	$159K	$346K	5x	as long as short
Hyperliquid FIL	+0.0100%	1h	0.9863	−0.010%	$8.5M	$9.5M	5x	as long as short
Aster FILUSDT	+0.0100%	8h	0.9869	+0.051%	$494K	$545K	20x	as long as short
Bybit FILUSDT	+0.0100%	8h	0.9855	−0.091%	$15.3M	$18.3M	25x	as long as short
Gate FIL_USDTlong	+0.0100%	8h	0.9864	long leg	$8.2M	$16.1M	50x
BingX FIL-USDC	+0.0100%	8h	0.9858	−0.061%	—	$6.5M	—	as long as short
Variational Omni FIL	+0.0100%	8h	0.9882	+0.182%	$443K	$279K	—	as long as short
edgeX FILUSDC	+0.0100%	4h	0.9881	+0.172%	$45K	$293K	10x	as long as short
GRVT FIL_USDT_Perp	+0.0100%	8h	0.9890	+0.259%	$292K	$812K	10x	as long as short
ApeX Omni FILUSDT	+0.0100%	1h	0.9870	+0.061%	$30K	$196K	50x	as long as short
Orderly PERP_FIL_USDC_mythos	+0.0100%	4h	0.9876	+0.124%	$5K	—	10x	as long as short
SunX FIL-USDT	+0.0100%	8h	0.9860	−0.041%	$3K	$1.1M	20x	as long as short
SoDEX FIL-USD	+0.0100%	1h	0.9862	−0.020%	$483	$11K	5x	as long as short
HTX FIL-USDT	+0.0100%	8h	0.9876	+0.122%	$629K	$5.7M	75x	as long as short
Phemex FILUSDT	+0.0100%	8h	0.9860	−0.041%	$1.1M	$2.3M	50x	as long as short
BloFin FIL-USDT	+0.0138%	8h	0.9875	+0.112%	$2.7M	$571K	75x	as long as short
GMX FIL/USD [WBTC.b-USDC]	L +0.0539% / S −0.0538%	1h	0.9870	+0.060%	$196K	—	100x	as long as short