Funding arb · Price arb /

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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: Gate against BingX+0.131%7-day average −0.012% · you sell dearer than you buy

Net, funding: paid 7d − costs−$307as in the Funding arb table

Net, price: spread back to 7d avg − costs−$289as in the Price arb table

costs, in and out, $10k−$3033.033% of the position

Long on BingX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.033%−$3 on $10k

Price spread, last 4 days (all we have)−0.145%−$14 · spread now +0.131%, 7d avg −0.012%

Together, before fees−0.177%−$18 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 0.143% dearer against BingX than usual: you sell high and buy low, +$14 on $10k if it goes back to its 7-day average of −0.012%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX LAYER-USDT	0.07655	0.0100	pay 0.0050% / 4h	58m 31s	—	$1.6M	—
Short	Gate LAYER_USDT	0.07665	0.0100	get 0.0050% / 4h	58m 31s	$137K	$46K	20x

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 +0.131%Rate

Funding earned: $0
Price spread: +0.131% → −0.012%: $14.28
Slippage, 4 orders: −$278.32
Fee BingX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$289.04
Costs to cover: 3.033%
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	5.88 bp	21.6 bp −$22	138.1 bp −$1,381	643.6 bp −$64.4K	841.7 bp −$420.9K
Sell Gate live order book, 57 min ago	16.92 bp	95.3 bp −$95	doesn't fit	doesn't fit	doesn't fit

LAYER on 13 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_LAYERUSD	−0.0511%	1h	0.07647	−0.102%	$8K	$54	10x	as long as short
Injective LAYER/USDC PERP	+0.0033%	1h	0.07274	−4.977%	—	$18K	5.5x	as long as short
BloFin LAYER-USDT	+0.0090%	4h	0.07631	−0.314%	$116K	$16K	50x	as long as short
Hyperliquid LAYER	+0.0100%	1h	0.07665	+0.136%	$595K	$167K	3x	as long as short
Aster LAYERUSDT	+0.0100%	4h	0.07658	+0.045%	$9K	$4K	5x	as long as short
Binance LAYERUSDT	+0.0100%	4h	0.07659	+0.049%	$2.1M	$2.6M	50x	as long as short
OKX LAYER-USDT-SWAP	+0.0100%	4h	0.07638	−0.222%	$717K	$734K	20x	as long as short
Gate LAYER_USDTshort	+0.0100%	4h	0.07665	+0.131%	$137K	$46K	20x
MEXC LAYER_USDT	+0.0100%	4h	0.07659	+0.052%	$339K	$116K	20x	as long as short
Bitget LAYERUSDT	+0.0100%	4h	0.07661	+0.078%	$1.1M	$167K	50x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX LAYER-USDTlong	+0.0100%	4h	0.07655	long leg	—	$1.6M	—
ApeX Omni LAYERUSDT	+0.0100%	1h	0.07640	−0.196%	$16K	$191K	50x	as long as short
Extended LAYER-USD	+0.0104%	1h	0.07658	+0.033%	$742	$170K	5x	as long as short