Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0470%/8h= +51.5% APRpaid last 24h +0.034%

Price spread now: Gate against KuCoin+0.118%7-day average +0.090% · you sell dearer than you buy

Net, funding: paid 7d − costs−$206as in the Funding arb table

Net, price: spread back to 7d avg − costs−$194as in the Price arb table

costs, in and out, $10k−$1971.973% of the position

Long on KuCoin Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.085%−$8 on $10k

Price spread, last 4 days (all we have)−0.075%−$7 · spread now +0.118%, 7d avg +0.090%

Together, before fees−0.159%−$16 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 0.028% dearer against KuCoin than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.090%. Mind the row above: over the last 7 days funding on this pair cost −0.085%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.085% in total (about -4.4% 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	KuCoin GMTUSDTM	0.008500	−0.0370	get 0.0185% / 4h	3h 10m	$275K	$177K	50x
Short	Gate GMT_USDT	0.008510	0.0100	get 0.0100% / 8h	3h 10m	$145K	$178K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against KuCoin. 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 KuCoinbpFee GatebpOrdersPrice spread, now +0.118%Rate

Funding earned: $98.7
Price spread: +0.118% → +0.090%: $2.77
Slippage, 4 orders: −$170.27
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$95.8
Costs to cover: 1.973%
Break-even: 13.8 days

Slippage from KuCoin: live order book, 61 min ago; Gate: live order book, 35 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 KuCoin live order book, 61 min ago	11.67 bp	51.6 bp −$52	352.2 bp −$3,522	doesn't fit	doesn't fit
Sell Gate live order book, 35 min ago	5.84 bp	41.6 bp −$42	doesn't fit	doesn't fit	doesn't fit

GMT on 12 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
Kraken Futures PF_GMTUSD	−0.1578%	1h	0.008511	+0.134%	$43K	$13K	20x	as long as short
Bybit GMTUSDT	−0.0486%	8h	0.008500	0.000%	$1.1M	$2.0M	50x	as long as short
OKX GMT-USDT-SWAP	−0.0454%	4h	0.008495	−0.059%	$397K	$1.2M	20x	as long as short
KuCoin GMTUSDTMlong	−0.0370%	4h	0.008500	long leg	$275K	$177K	50x
Variational Omni GMT	−0.0300%	8h	0.008497	−0.036%	$4K	$5K	—	as long as short
Aster GMTUSDT	−0.0050%	4h	0.008511	+0.135%	$7K	$22K	10x	as long as short
Bitget GMTUSDT	−0.0008%	4h	0.008515	+0.176%	$676K	$610K	50x	as long as short
BingX GMT-USDT	+0.0050%	4h	0.008511	+0.129%	—	$1.3M	—	as long as short
Hyperliquid GMT	+0.0100%	1h	0.008504	+0.047%	$112K	$150K	3x	as long as short
Binance GMTUSDT	+0.0100%	4h	0.008501	+0.006%	$2.9M	$5.2M	50x	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate GMT_USDTshort	+0.0100%	8h	0.008510	+0.118%	$145K	$178K	50x
MEXC GMT_USDT	+0.0100%	4h	0.008502	+0.024%	$431K	$210K	20x	as long as short