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: Gate against Binance−0.072%7-day average −0.035% · you buy dearer than you sell

Net, funding: paid 7d − costs−$559as in the Funding arb table

Net, price: spread back to 7d avg − costs−$564as in the Price arb table

costs, in and out, $10k−$5615.606% of the position

Long on Binance Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.017%+$2 on $10k

Price spread, last 4 days (all we have)+0.064%+$6 · spread now −0.072%, 7d avg −0.035%

Together, before fees+0.081%+$8 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: Gate is 0.037% cheaper against Binance than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.035%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance IOUSDT	0.1513	0.0100	pay 0.0050% / 4h	1h 15m	$3.0M	$6.5M	50x
Short	Gate IO_USDT	0.1512	0.0100	get 0.0050% / 4h	1h 15m	$249K	$548K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.072%Rate

Funding earned: $0
Price spread: −0.072% → −0.035%: −$3.72
Slippage, 4 orders: −$535.6
Fee Binance: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$564.32
Costs to cover: 5.606%
Break-even: never at this rate

Slippage from Binance: live order book, 8 min ago; Gate: live order book, 66 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, 8 min ago	3.30 bp	24.2 bp −$24	104.6 bp −$1,046	doesn't fit	doesn't fit
Sell Gate live order book, 66 min ago	6.27 bp	261.5 bp −$261	doesn't fit	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
Kraken Futures PF_IOUSD	−0.0639%	1h	0.1516	+0.192%	$39K	$21K	10x	as long as short
Hyperliquid IO	+0.0100%	1h	0.1512	−0.053%	$1.0M	$387K	3x	as long as short
Aster IOUSDT	+0.0100%	4h	0.1512	−0.030%	$6K	$32K	5x	as long as short
Binance IOUSDTlong	+0.0100%	4h	0.1513	long leg	$3.0M	$6.5M	50x
Bybit IOUSDT	+0.0100%	4h	0.1511	−0.092%	$1.1M	$874K	25x	as long as short
Gate IO_USDTshort	+0.0100%	4h	0.1512	−0.072%	$249K	$548K	50x
MEXC IO_USDT	+0.0100%	4h	0.1510	−0.185%	$1.1M	$229K	125x	as long as short
KuCoin IOUSDTM	+0.0100%	4h	0.1512	−0.053%	$399K	$655K	50x	as long as short
Bitget IOUSDT	+0.0100%	4h	0.1512	−0.053%	$1.3M	$1.2M	50x	as long as short
BingX IO-USDT	+0.0100%	4h	0.1511	−0.119%	—	$1.3M	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni IO	+0.0100%	4h	0.1509	−0.263%	$30K	$5K	—	as long as short
Extended IO-USD	+0.0104%	1h	0.1512	−0.073%	$5K	$171K	5x	as long as short
BloFin IO-USDT	+0.0153%	4h	0.1511	−0.119%	$194K	$31K	50x	as long as short
Injective IO/USDC PERP	+0.0163%	1h	0.1514	+0.080%	$2K	$106	5.5x	as long as short