Funding arb · Price arb /

FORM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.031%

Price spread now: Bybit against Gate+0.202%7-day average +0.060% · you sell dearer than you buy

Net, funding: paid 7d − costs−$239as in the Funding arb table

Net, price: spread back to 7d avg − costs−$230as in the Price arb table

costs, in and out, $10k−$2442.442% of the position

Long on Gate Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.050%+$5 on $10k

Price spread, last 4 days (all we have)+0.141%+$14 · spread now +0.202%, 7d avg +0.060%

Together, before fees+0.191%+$19 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.142% dearer against Gate than usual: you sell high and buy low, +$14 on $10k if it goes back to its 7-day average of +0.060%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate FORM_USDT	0.3607	0.0100	pay 0.0050% / 4h	2h 41m	$826K	$4.0M	50x
Short	Bybit FORMUSDT	0.3614	0.0100	get 0.0050% / 4h	2h 41m	$2.3M	$11.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.202%Rate

Funding earned: $0
Price spread: +0.202% → +0.060%: $14.25
Slippage, 4 orders: −$218.22
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$229.97
Costs to cover: 2.442%
Break-even: never at this rate

Slippage from Gate: live order book, 1 min ago; Bybit: 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, 1 min ago	9.71 bp	42.0 bp −$42	138.5 bp −$1,385	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	4.16 bp	67.8 bp −$68	188.0 bp −$1,880	doesn't fit	doesn't fit

FORM on 10 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
gTrade (Gains Network) FORM/USD	L −0.0007% / S +0.0008%	1h	0.3611	+0.117%	—	—	—	as long as short
BloFin FORM-USDT	+0.0045%	4h	0.3606	−0.028%	$1.0M	$348K	50x	as long as short
BingX FORM-USDT	+0.0070%	4h	0.3613	+0.166%	—	$3.4M	—	as long as short
Aster FORMUSDT	+0.0100%	4h	0.3612	+0.129%	$44K	$600K	5x	as long as short
Binance FORMUSDT	+0.0100%	4h	0.3612	+0.126%	$19.0M	$129.7M	50x	as long as short
Bybit FORMUSDTshort	+0.0100%	4h	0.3614	+0.202%	$2.3M	$11.0M	20x
Gate FORM_USDTlong	+0.0100%	4h	0.3607	long leg	$826K	$4.0M	50x
MEXC FORM_USDT	+0.0100%	4h	0.3612	+0.139%	$2.0M	$8.0M	100x	as long as short
KuCoin FORMUSDTM	+0.0100%	4h	0.3619	+0.333%	$356K	$777K	30x	as long as short
Bitget FORMUSDT	+0.0100%	4h	0.3611	+0.111%	$1.1M	$7.5M	50x	as long as short