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 Bitget−0.020%7-day average −0.089% · you buy dearer than you sell

Net, funding: paid 7d − costs−$571as in the Funding arb table

Net, price: spread back to 7d avg − costs−$559as in the Price arb table

costs, in and out, $10k−$5655.655% of the position

Long on Bitget Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.054%−$5 on $10k

Price spread, last 4 days (all we have)−0.051%−$5 · spread now −0.020%, 7d avg −0.089%

Together, before fees−0.106%−$11 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 0.069% dearer against Bitget than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.089%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget IOUSDT	0.1507	0.0100	pay 0.0050% / 4h	1h 57m	$1.3M	$1.2M	50x
Short	Gate IO_USDT	0.1507	0.0100	get 0.0050% / 4h	1h 57m	$231K	$525K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Bitget. 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 BitgetbpFee GatebpOrdersPrice spread, now −0.020%Rate

Funding earned: $0
Price spread: −0.020% → −0.089%: $6.91
Slippage, 4 orders: −$538.48
Fee Bitget: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$558.57
Costs to cover: 5.655%
Break-even: never at this rate

Slippage from Bitget: live order book, 4 min ago; Gate: live order book, 23 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 Bitget live order book, 4 min ago	3.32 bp	22.1 bp −$22	134.6 bp −$1,346	doesn't fit	doesn't fit
Sell Gate live order book, 23 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	−0.0642%	1h	0.1508	+0.082%	$39K	$21K	10x	as long as short
Hyperliquid IO	+0.0100%	1h	0.1507	−0.027%	$1.0M	$389K	3x	as long as short
Aster IOUSDT	+0.0100%	4h	0.1506	−0.044%	$6K	$32K	5x	as long as short
Binance IOUSDT	+0.0100%	4h	0.1507	+0.007%	$3.0M	$6.4M	50x	as long as short
Bybit IOUSDT	+0.0100%	4h	0.1504	−0.206%	$1.1M	$867K	25x	as long as short
Gate IO_USDTshort	+0.0100%	4h	0.1507	−0.020%	$231K	$525K	50x
MEXC IO_USDT	+0.0100%	4h	0.1506	−0.066%	$1.1M	$226K	125x	as long as short
KuCoin IOUSDTM	+0.0100%	4h	0.1505	−0.133%	$400K	$655K	50x	as long as short
Bitget IOUSDTlong	+0.0100%	4h	0.1507	long leg	$1.3M	$1.2M	50x
BingX IO-USDT	+0.0100%	4h	0.1507	0.000%	—	$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	0.1505	−0.136%	$30K	$5K	—	as long as short
Extended IO-USD	+0.0104%	1h	0.1506	−0.083%	$5K	$171K	5x	as long as short
BloFin IO-USDT	+0.0119%	4h	0.1509	+0.133%	$193K	$30K	50x	as long as short
Injective IO/USDC PERP	+0.0163%	1h	0.1516	+0.597%	$2K	$99	5.5x	as long as short