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 Bybit+0.193%7-day average +0.041% · you sell dearer than you buy

Net, funding: paid 7d − costs−$669as in the Funding arb table

Net, price: spread back to 7d avg − costs−$661as in the Price arb table

costs, in and out, $10k−$6766.762% of the position

Long on Bybit Short on Gate

What this pair did over the last

the charts below follow

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

Price spread, last 4 days (all we have)−0.129%−$13 · spread now +0.193%, 7d avg +0.041%

Together, before fees−0.058%−$6 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 0.152% dearer against Bybit than usual: you sell high and buy low, +$15 on $10k if it goes back to its 7-day average of +0.041%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit IOUSDT	0.1502	0.0100	pay 0.0050% / 4h	2h 40m	$1.1M	$863K	25x
Short	Gate IO_USDT	0.1505	0.0100	get 0.0050% / 4h	2h 40m	$230K	$542K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Bybit. 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 BybitbpFee GatebpOrdersPrice spread, now +0.193%Rate

Funding earned: $0
Price spread: +0.193% → +0.041%: $15.19
Slippage, 4 orders: −$650.19
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$661
Costs to cover: 6.762%
Break-even: never at this rate

Slippage from Bybit: live order book, 5 min ago; Gate: live order book, 45 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 Bybit live order book, 5 min ago	6.65 bp	101.3 bp −$101	416.3 bp −$4,163	doesn't fit	doesn't fit
Sell Gate live order book, 45 min ago	4.32 bp	222.3 bp −$222	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
Injective IO/USDC PERP	−0.0157%	1h	0.1503	+0.047%	$2K	$101	5.5x	as long as short
Hyperliquid IO	+0.0100%	1h	0.1504	+0.080%	$1.0M	$393K	3x	as long as short
Aster IOUSDT	+0.0100%	4h	0.1505	+0.198%	$6K	$32K	5x	as long as short
Binance IOUSDT	+0.0100%	4h	0.1504	+0.113%	$3.0M	$6.4M	50x	as long as short
Bybit IOUSDTlong	+0.0100%	4h	0.1502	long leg	$1.1M	$863K	25x
Gate IO_USDTshort	+0.0100%	4h	0.1505	+0.193%	$230K	$542K	50x
MEXC IO_USDT	+0.0100%	4h	0.1503	+0.047%	$1.1M	$237K	125x	as long as short
KuCoin IOUSDTM	+0.0100%	4h	0.1503	+0.047%	$401K	$654K	50x	as long as short
Bitget IOUSDT	+0.0100%	4h	0.1504	+0.113%	$1.4M	$1.1M	50x	as long as short
BingX IO-USDT	+0.0100%	4h	0.1504	+0.113%	—	$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	0.1502	−0.053%	$30K	$5K	—	as long as short
BloFin IO-USDT	+0.0103%	4h	0.1506	+0.246%	$192K	$30K	50x	as long as short
Extended IO-USD	+0.0104%	1h	0.1504	+0.106%	$5K	$171K	5x	as long as short
Kraken Futures PF_IOUSD	+0.5463%	1h	0.1505	+0.167%	$39K	$21K	10x	as long as short