Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.1278%/8h= +140.0% APRpaid last 24h +0.117%

Price spread now: BloFin against Gate+0.180%93s7-day average +0.133% · you sell dearer than you buy

Net, funding: paid 7d − costs−$109as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1461.459% of the position

Long on Gate Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.373%+$37 on $10k

Price spread, last 3 days (all we have)+0.075%+$8 · spread now +0.180%, 7d avg +0.133%

Together, before fees+0.449%+$45 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$38 a day on $10k at the current rate, and BloFin is 0.047% dearer against Gate than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.133%. The two prices were read 93 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.373% in total (about 19.5% 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	1.4422	0.0100	pay 0.0100% / 8h	9m 28s	$1.9M	$953K	10x
Short	BloFin M-USDT	1.4448	0.1378	get 0.0689% / 4h	9m 28s	$353K	$429K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.180%Rate

Funding earned: $268.46
Price spread: +0.180% → +0.133%: $4.74
Slippage, 4 orders: −$118.93
Fee Gate: 7.5 bp × 2 orders: −$15
Fee BloFin: 6 bp × 2 orders: −$12
Net: $127.26
Costs to cover: 1.459%
Break-even: 3.7 days

Slippage from Gate: live order book, 3 min ago; BloFin: live order book, 1 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, 3 min ago	6.93 bp	42.8 bp −$43	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 1 min ago	1.38 bp	25.9 bp −$26	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	1.4439	+0.118%	$4.6M	$2.3M	20x	as long as short
Gate M_USDTlong	+0.0100%	8h	1.4422	long leg	$1.9M	$953K	10x
Bitget MUSDT	+0.0100%	4h	1.4438	+0.111%	$1.9M	$355K	10x	as long as short
Variational Omni M	+0.0100%	4h	1.4440	+0.124%	$90K	$43K	—	as long as short
Orderly PERP_M_USDC	+0.0100%	4h	1.4438	+0.111%	$2K	$596	10x	as long as short
SunX M-USDT	+0.0100%	4h	1.4458	+0.250%	$2K	$634K	20x	as long as short
Aster MUSDT	+0.1013%	4h	1.4460	+0.263%	$15K	$116K	5x	as long as short
BingX M-USDT	+0.1330%	4h	1.4434	+0.083%	—	$2.4M	—	as long as short
BloFin M-USDTshort	+0.1378%	4h	1.4448	+0.180%	$353K	$429K	10x
MEXC M_USDT	+0.1414%	4h	1.4456	+0.236%	$243K	$113K	50x	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance MUSDT	+0.1434%	4h	1.4435	+0.090%	$5.5M	$4.8M	10x	as long as short
KuCoin MUSDTM	+0.1744%	4h	1.4307	−0.794%	$1.4M	$4.3M	10x	as long as short