Funding arb · Price arb /

IO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Gate against BingX+0.080%7-day average −0.010% · you sell dearer than you buy

Net, funding: paid 7d − costs−$158as in the Funding arb table

Net, price: spread back to 7d avg − costs−$146as in the Price arb table

costs, in and out, $10k−$1551.546% of the position

Long on BingX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.038%−$4 on $10k

Price spread, last 4 days (all we have)−0.105%−$11 · spread now +0.080%, 7d avg −0.010%

Together, before fees−0.144%−$14 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 0.090% dearer against BingX than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of −0.010%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX IO-USDT	0.1494	0.0100	pay 0.0050% / 4h	43m 25s	—	$1.3M	—
Short	Gate IO_USDT	0.1495	0.0100	get 0.0050% / 4h	43m 25s	$231K	$472K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against BingX. 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 BingXbpFee GatebpOrdersPrice spread, now +0.080%Rate

Funding earned: $0
Price spread: +0.080% → −0.010%: $9.01
Slippage, 4 orders: −$129.62
Fee BingX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$145.61
Costs to cover: 1.546%
Break-even: never at this rate

Slippage from BingX: live order book, 2 min ago; Gate: live order book, 57 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 BingX live order book, 2 min ago	6.69 bp	21.6 bp −$22	59.6 bp −$596	476.5 bp −$47.6K	653.5 bp −$326.7K
Sell Gate live order book, 57 min ago	7.71 bp	66.5 bp −$66	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
BloFin IO-USDT	+0.0086%	4h	0.1494	0.000%	$193K	$34K	50x	as long as short
Hyperliquid IO	+0.0100%	1h	0.1496	+0.127%	$1.0M	$269K	3x	as long as short
Aster IOUSDT	+0.0100%	4h	0.1495	+0.052%	$23K	$42K	5x	as long as short
Binance IOUSDT	+0.0100%	4h	0.1494	0.000%	$3.0M	$5.0M	50x	as long as short
Bybit IOUSDT	+0.0100%	4h	0.1492	−0.134%	$1.1M	$648K	25x	as long as short
Gate IO_USDTshort	+0.0100%	4h	0.1495	+0.080%	$231K	$472K	50x
MEXC IO_USDT	+0.0100%	4h	0.1493	−0.067%	$1.2M	$216K	125x	as long as short
KuCoin IOUSDTM	+0.0100%	4h	0.1494	0.000%	$340K	$194K	50x	as long as short
Bitget IOUSDT	+0.0100%	4h	0.1494	0.000%	$1.4M	$984K	50x	as long as short
BingX IO-USDTlong	+0.0100%	4h	0.1494	long leg	—	$1.3M	—

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni IO	+0.0100%	4h	0.1493	−0.086%	$30K	$18K	—	as long as short
Extended IO-USD	+0.0104%	1h	0.1494	+0.024%	$3K	$212K	5x	as long as short
Injective IO/USDC PERP	+0.0563%	1h	0.1491	−0.201%	$2K	$198	5.5x	as long as short
Kraken Futures PF_IOUSD	+0.5924%	1h	0.1498	+0.248%	$39K	$7K	10x	as long as short