Funding arb · Price arb /

IO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: BingX against Gate+0.145%7-day average +0.008% · you sell dearer than you buy

Net, funding: paid 7d − costs−$491as in the Funding arb table

Net, price: spread back to 7d avg − costs−$481as in the Price arb table

costs, in and out, $10k−$4954.951% of the position

Long on Gate Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.044%+$4 on $10k

Price spread, last 4 days (all we have)−0.117%−$12 · spread now +0.145%, 7d avg +0.008%

Together, before fees−0.073%−$7 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: BingX is 0.137% dearer against Gate than usual: you sell high and buy low, +$14 on $10k if it goes back to its 7-day average of +0.008%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate IO_USDT	0.1514	0.0100	pay 0.0050% / 4h	55m 27s	$231K	$545K	50x
Short	BingX IO-USDT	0.1516	0.0100	get 0.0050% / 4h	55m 27s	—	$1.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Gate. 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 GatebpFee BingXbpOrdersPrice spread, now +0.145%Rate

Funding earned: $0
Price spread: +0.145% → +0.008%: $13.69
Slippage, 4 orders: −$470.08
Fee Gate: 7.5 bp × 2 orders: −$15
Fee BingX: 5 bp × 2 orders: −$10
Net: −$481.39
Costs to cover: 4.951%
Break-even: never at this rate

Slippage from Gate: live order book, 66 min ago; BingX: live order book, 4 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 Gate live order book, 66 min ago	5.28 bp	237.6 bp −$238	17002.5 bp −$170.0K	doesn't fit	doesn't fit
Sell BingX live order book, 4 min ago	9.94 bp	30.8 bp −$31	64.9 bp −$649	450.1 bp −$45.0K	578.4 bp −$289.2K

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	+0.0092%	4h	0.1513	−0.053%	$193K	$39K	50x	as long as short
Hyperliquid IO	+0.0100%	1h	0.1515	+0.106%	$1.0M	$379K	3x	as long as short
Aster IOUSDT	+0.0100%	4h	0.1517	+0.179%	$23K	$49K	5x	as long as short
Binance IOUSDT	+0.0100%	4h	0.1515	+0.106%	$3.0M	$6.6M	50x	as long as short
Bybit IOUSDT	+0.0100%	4h	0.1513	−0.033%	$1.1M	$913K	25x	as long as short
Gate IO_USDTlong	+0.0100%	4h	0.1514	long leg	$231K	$545K	50x
MEXC IO_USDT	+0.0100%	4h	0.1514	+0.013%	$1.2M	$227K	125x	as long as short
KuCoin IOUSDTM	+0.0100%	4h	0.1515	+0.079%	$361K	$656K	50x	as long as short
Bitget IOUSDT	+0.0100%	4h	0.1517	+0.211%	$1.4M	$1.3M	50x	as long as short
BingX IO-USDTshort	+0.0100%	4h	0.1516	+0.145%	—	$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	0.1514	−0.003%	$33K	$13K	—	as long as short
Extended IO-USD	+0.0104%	1h	0.1516	+0.131%	$2K	$130K	5x	as long as short
Injective IO/USDC PERP	+0.0583%	1h	0.1512	−0.119%	$2K	$199	5.5x	as long as short
Kraken Futures PF_IOUSD	+3.7339%	1h	0.1506	−0.542%	$39K	$18K	10x	as long as short