Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.1721%/8h= +188.5% APRpaid last 24h +0.170%

Price spread now: Binance against Gate+0.014%7-day average +0.112% · you sell dearer than you buy

Net, funding: paid 7d − costs−$123as in the Funding arb table

Net, price: spread back to 7d avg − costs−$178as in the Price arb table

costs, in and out, $10k−$1681.684% of the position

Long on Gate Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.458%+$46 on $10k

Price spread, last 7 days+0.076%+$8 · spread now +0.014%, 7d avg +0.112%

Together, before fees+0.534%+$53 on $10k · with fees, hour by hour

Funding pays, the price is against you. Binance is 0.098% cheaper against Gate than usual: you would sell low and buy high (spread +0.014% now, against its 7-day average of +0.112%). If the spread goes back, that is −$10 on $10k: about 5 hours of funding at the current rate (+$52 a day). At the pace of the last 7 days (+0.458% 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 0.458% in total (about 23.9% 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	Gate M_USDT	1.4514	0.0100	pay 0.0100% / 8h	6h 56m	$2.0M	$855K	10x
Short	Binance MUSDT	1.4516	0.1821	get 0.0911% / 4h	2h 56m	$5.6M	$3.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.014%Rate

Funding earned: $361.46
Price spread: +0.014% → +0.112%: −$9.81
Slippage, 4 orders: −$143.39
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Binance: 5 bp × 2 orders: −$10
Net: $183.26
Costs to cover: 1.684%
Break-even: 3.5 days

Slippage from Gate: live order book, 1 min ago; Binance: live order book, 11 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, 1 min ago	7.93 bp	50.0 bp −$50	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 11 min ago	1.74 bp	32.1 bp −$32	272.5 bp −$2,725	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	1.4515	+0.007%	$4.5M	$1.9M	20x	as long as short
Gate M_USDTlong	+0.0100%	8h	1.4514	long leg	$2.0M	$855K	10x
Variational Omni M	+0.0100%	4h	1.4613	+0.682%	$91K	$43K	—	as long as short
Orderly PERP_M_USDC	+0.0100%	4h	1.4546	+0.220%	$2K	$496	10x	as long as short
SunX M-USDT	+0.0100%	4h	1.4536	+0.152%	$2K	$667K	20x	as long as short
Bitget MUSDT	+0.0230%	4h	1.4551	+0.255%	$1.9M	$242K	10x	as long as short
Aster MUSDT	+0.1433%	4h	1.4509	−0.031%	$14K	$115K	5x	as long as short
BingX M-USDT	+0.1761%	4h	1.4515	+0.007%	—	$2.4M	—	as long as short
BloFin M-USDT	+0.1799%	4h	1.4524	+0.069%	$353K	$431K	10x	as long as short
Binance MUSDTshort	+0.1821%	4h	1.4516	+0.014%	$5.6M	$3.8M	10x

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC M_USDT	+0.1842%	4h	1.4524	+0.069%	$243K	$105K	50x	as long as short
KuCoin MUSDTM	+0.3798%	4h	1.4404	−0.761%	$1.4M	$4.1M	10x	as long as short