Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0680%/8h= −74.5% APRpaid last 24h −0.118%

Price spread now: Gate against BingX−0.041%7-day average −0.099% · you buy dearer than you sell

Net, funding: paid 7d − costs−$174as in the Funding arb table

Net, price: spread back to 7d avg − costs−$141as in the Price arb table

costs, in and out, $10k−$1471.466% of the position

Long on BingX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.273%−$27 on $10k

Price spread, last 7 days+0.021%+$2 · spread now −0.041%, 7d avg −0.099%

Together, before fees−0.252%−$25 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.058% dearer against BingX than usual: you sell high and buy low (spread −0.041% now, against its 7-day average of −0.099%): +$6 on $10k if it goes back. Holding the pair costs −$20 a day in funding at the current rate, which eats that in about 7 hours. At the pace of the last 7 days (−0.273% in total) that is about 36 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.273% in total (about -14.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX M-USDT	1.4683	0.0780	pay 0.0390% / 4h	1h 50m	—	$2.4M	—
Short	Gate M_USDT	1.4677	0.0100	get 0.0100% / 8h	1h 50m	$2.0M	$885K	10x

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 −0.041%Rate

Funding earned: −$142.8
Price spread: −0.041% → −0.099%: $5.79
Slippage, 4 orders: −$121.59
Fee BingX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$283.6
Costs to cover: 1.466%
Break-even: never at this rate

Slippage from BingX: live order book, 14 min ago; Gate: live order book, 3 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, 14 min ago	7.49 bp	20.5 bp −$20	76.6 bp −$766	doesn't fit	doesn't fit
Sell Gate live order book, 3 min ago	20.76 bp	44.0 bp −$44	doesn't fit	doesn't fit	doesn't fit

M 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
Bybit MUSDT	+0.0100%	4h	1.4677	−0.041%	$4.7M	$2.3M	20x	as long as short
Gate M_USDTshort	+0.0100%	8h	1.4677	−0.041%	$2.0M	$885K	10x
Bitget MUSDT	+0.0100%	4h	1.4705	+0.150%	$1.9M	$347K	10x	as long as short
Variational Omni M	+0.0100%	4h	1.4694	+0.077%	$90K	$42K	—	as long as short
Orderly PERP_M_USDC	+0.0100%	4h	1.4702	+0.129%	$2K	$596	10x	as long as short
SunX M-USDT	+0.0100%	4h	1.4689	+0.041%	$2K	$554K	20x	as long as short
Aster MUSDT	+0.0507%	4h	1.4700	+0.117%	$15K	$116K	5x	as long as short
BingX M-USDTlong	+0.0780%	4h	1.4683	long leg	—	$2.4M	—
KuCoin MUSDTM	+0.0798%	4h	1.4556	−0.867%	$1.4M	$4.4M	10x	as long as short
BloFin M-USDT	+0.0826%	4h	1.4732	+0.334%	$350K	$408K	10x	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC M_USDT	+0.0828%	4h	1.4688	+0.034%	$246K	$109K	50x	as long as short
Binance MUSDT	+0.0830%	4h	1.4686	+0.020%	$5.5M	$4.5M	10x	as long as short