Funding arb · Price arb /

IO

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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 0.000%

Price spread now: Bitget against Binance+0.132%7-day average +0.071% · you sell dearer than you buy

Net, funding: paid 7d − costs−$113as in the Funding arb table

Net, price: spread back to 7d avg − costs−$114as in the Price arb table

costs, in and out, $10k−$1201.198% of the position

Long on Binance Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.071%+$7 on $10k

Price spread, last 7 days−0.031%−$3 · spread now +0.132%, 7d avg +0.071%

Together, before fees+0.041%+$4 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: Bitget is 0.061% dearer against Binance than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of +0.071%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance IOUSDT	0.1508	0.0100	pay 0.0050% / 4h	3h 29m	$3.0M	$6.5M	50x
Short	Bitget IOUSDT	0.1510	0.0100	get 0.0050% / 4h	3h 29m	$1.4M	$1.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Binance. 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 BinancebpFee BitgetbpOrdersPrice spread, now +0.132%Rate

Funding earned: $0
Price spread: +0.132% → +0.071%: $6.14
Slippage, 4 orders: −$97.77
Fee Binance: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$113.64
Costs to cover: 1.198%
Break-even: never at this rate

Slippage from Binance: live order book, 15 min ago; Bitget: live order book, 3 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 Binance live order book, 15 min ago	6.69 bp	21.7 bp −$22	111.2 bp −$1,112	doesn't fit	doesn't fit
Sell Bitget live order book, 3 min ago	6.62 bp	36.2 bp −$36	214.0 bp −$2,140	doesn't fit	doesn't fit

IO on 14 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
Hyperliquid IO	+0.0100%	1h	0.1509	+0.052%	$1.0M	$411K	3x	as long as short
Aster IOUSDT	+0.0100%	4h	0.1511	+0.217%	$6K	$32K	5x	as long as short
Binance IOUSDTlong	+0.0100%	4h	0.1508	long leg	$3.0M	$6.5M	50x
Bybit IOUSDT	+0.0100%	4h	0.1507	−0.047%	$1.1M	$949K	25x	as long as short
Gate IO_USDT	+0.0100%	4h	0.1510	+0.152%	$232K	$551K	50x	as long as short
MEXC IO_USDT	+0.0100%	4h	0.1508	−0.001%	$1.1M	$241K	125x	as long as short
KuCoin IOUSDTM	+0.0100%	4h	0.1507	−0.067%	$383K	$661K	50x	as long as short
Bitget IOUSDTshort	+0.0100%	4h	0.1510	+0.132%	$1.4M	$1.2M	50x
BingX IO-USDT	+0.0100%	4h	0.1507	−0.067%	—	$1.3M	—	as long as short
Variational Omni IO	+0.0100%	4h	0.1508	−0.002%	$30K	$5K	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended IO-USD	+0.0104%	1h	0.1508	−0.015%	$5K	$171K	5x	as long as short
BloFin IO-USDT	+0.0156%	4h	0.1508	−0.001%	$191K	$32K	50x	as long as short
Kraken Futures PF_IOUSD	+0.0170%	1h	0.1514	+0.407%	$39K	$21K	10x	as long as short
Injective IO/USDC PERP	+0.0510%	1h	0.1504	−0.266%	$2K	$102	5.5x	as long as short