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: Bitget against Gate−0.103%7-day average +0.014% · you buy dearer than you sell

Net, funding: paid 7d − costs−$278as in the Funding arb table

Net, price: spread back to 7d avg − costs−$293as in the Price arb table

costs, in and out, $10k−$2812.814% of the position

Long on Gate Short on Bitget

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)+0.124%+$12 · spread now −0.103%, 7d avg +0.014%

Together, before fees+0.157%+$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: Bitget is 0.118% cheaper against Gate than usual: you would sell low and buy high, −$12 on $10k if it goes back to its 7-day average of +0.014%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate LAYER_USDT	0.07745	0.0100	pay 0.0050% / 4h	8m 48s	$139K	$47K	20x
Short	Bitget LAYERUSDT	0.07737	0.0100	get 0.0050% / 4h	8m 48s	$1.1M	$141K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.103%Rate

Funding earned: $0
Price spread: −0.103% → +0.014%: −$11.77
Slippage, 4 orders: −$254.43
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$293.2
Costs to cover: 2.814%
Break-even: never at this rate

Slippage from Gate: live order book, 42 min ago; Bitget: live order book, 2 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, 42 min ago	11.12 bp	100.2 bp −$100	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 2 min ago	10.36 bp	25.1 bp −$25	119.9 bp −$1,199	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	−0.0505%	1h	0.07745	+0.006%	$8K	$54	10x	as long as short
Injective LAYER/USDC PERP	+0.0033%	1h	0.07274	−6.081%	—	$18K	5.5x	as long as short
Hyperliquid LAYER	+0.0100%	1h	0.07751	+0.081%	$601K	$167K	3x	as long as short
Aster LAYERUSDT	+0.0100%	4h	0.07741	−0.051%	$10K	$4K	5x	as long as short
Binance LAYERUSDT	+0.0100%	4h	0.07740	−0.068%	$2.1M	$2.6M	50x	as long as short
OKX LAYER-USDT-SWAP	+0.0100%	4h	0.07731	−0.181%	$725K	$750K	20x	as long as short
Gate LAYER_USDTlong	+0.0100%	4h	0.07745	long leg	$139K	$47K	20x
MEXC LAYER_USDT	+0.0100%	4h	0.07740	−0.065%	$367K	$122K	20x	as long as short
Bitget LAYERUSDTshort	+0.0100%	4h	0.07737	−0.103%	$1.1M	$141K	50x
BingX LAYER-USDT	+0.0100%	4h	0.07743	−0.026%	—	$1.6M	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni LAYERUSDT	+0.0100%	1h	0.07730	−0.194%	$17K	$193K	50x	as long as short
Extended LAYER-USD	+0.0104%	1h	0.07737	−0.101%	$839	$174K	5x	as long as short
BloFin LAYER-USDT	+0.0121%	4h	0.07723	−0.284%	$115K	$16K	50x	as long as short