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: BingX against Gate−0.117%7-day average +0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs−$291as in the Funding arb table

Net, price: spread back to 7d avg − costs−$307as in the Price arb table

costs, in and out, $10k−$2942.938% of the position

Long on Gate Short on BingX

What this pair did over the last

the charts below follow

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

Price spread, last 4 days (all we have)+0.131%+$13 · spread now −0.117%, 7d avg +0.012%

Together, before fees+0.164%+$16 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 0.129% cheaper against Gate than usual: you would sell low and buy high, −$13 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	Gate LAYER_USDT	0.07678	0.0100	pay 0.0050% / 4h	1h 47m	$137K	$49K	20x
Short	BingX LAYER-USDT	0.07669	0.0100	get 0.0050% / 4h	1h 47m	—	$1.6M	—

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 −0.117%Rate

Funding earned: $0
Price spread: −0.117% → +0.012%: −$12.94
Slippage, 4 orders: −$268.8
Fee Gate: 7.5 bp × 2 orders: −$15
Fee BingX: 5 bp × 2 orders: −$10
Net: −$306.74
Costs to cover: 2.938%
Break-even: never at this rate

Slippage from Gate: live order book, 8 min ago; BingX: live order book, 15 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, 8 min ago	16.92 bp	151.0 bp −$151	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 15 min ago	5.21 bp	23.2 bp −$23	93.2 bp −$932	515.0 bp −$51.5K	800.7 bp −$400.4K

LAYER on 12 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	−0.0419%	1h	0.07672	−0.080%	$8K	$54	10x	as long as short
Injective LAYER/USDC PERP	+0.0033%	1h	0.07274	−5.262%	—	$18K	5.5x	as long as short
Hyperliquid LAYER	+0.0100%	1h	0.07677	−0.008%	$597K	$166K	3x	as long as short
Aster LAYERUSDT	+0.0100%	4h	0.07675	−0.039%	$9K	$4K	5x	as long as short
Binance LAYERUSDT	+0.0100%	4h	0.07666	−0.151%	$2.1M	$2.6M	50x	as long as short
OKX LAYER-USDT-SWAP	+0.0100%	4h	0.07656	−0.287%	$716K	$732K	20x	as long as short
Gate LAYER_USDTlong	+0.0100%	4h	0.07678	long leg	$137K	$49K	20x
MEXC LAYER_USDT	+0.0100%	4h	0.07666	−0.156%	$340K	$116K	20x	as long as short
Bitget LAYERUSDT	+0.0100%	4h	0.07671	−0.091%	$1.1M	$166K	50x	as long as short
BingX LAYER-USDTshort	+0.0100%	4h	0.07669	−0.117%	—	$1.6M	—

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni LAYERUSDT	+0.0100%	1h	0.07670	−0.104%	$25K	$187K	50x	as long as short
Extended LAYER-USD	+0.0104%	1h	0.07666	−0.155%	$3K	$168K	5x	as long as short