Funding arb · Price arb /

NIGHT

all NIGHT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Gate against Binance0.000%7-day average +0.031% · you sell dearer than you buy

Net, funding: paid 7d − costs−$578as in the Funding arb table

Net, price: spread back to 7d avg − costs−$577as in the Price arb table

costs, in and out, $10k−$5745.742% of the position

Long on Binance Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.043%−$4 on $10k

Price spread, last 4 days (all we have)+0.157%+$16 · spread now 0.000%, 7d avg +0.031%

Together, before fees+0.114%+$11 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: Gate is 0.031% cheaper against Binance than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.031%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance NIGHTUSDT	0.02429	0.0100	pay 0.0050% / 4h	3h 33m	$5.3M	$6.5M	50x
Short	Gate NIGHT_USDT	0.02429	0.0100	get 0.0100% / 8h	3h 33m	$239K	$208K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Binance. 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 BinancebpFee GatebpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → +0.031%: −$3.13
Slippage, 4 orders: −$549.2
Fee Binance: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$577.33
Costs to cover: 5.742%
Break-even: never at this rate

Slippage from Binance: live order book, 5 min ago; Gate: live order book, 13 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 Binance live order book, 5 min ago	2.06 bp	20.7 bp −$21	229.7 bp −$2,297	doesn't fit	doesn't fit
Sell Gate live order book, 13 min ago	4.12 bp	258.1 bp −$258	doesn't fit	doesn't fit	doesn't fit

NIGHT on 15 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
Coinbase International NIGHT-PERP-INTX	−2.3328%	1h	0.02180	−10.243%	$1K	—	50x	as long as short
Injective NIGHT/USDC PERP	+0.0033%	1h	0.02435	+0.247%	$1K	$58K	5.5x	as long as short
BloFin NIGHT-USDT	+0.0096%	4h	0.02429	0.000%	$284K	$41K	50x	as long as short
Aster NIGHTUSDT	+0.0100%	4h	0.02429	−0.008%	$27K	$33K	10x	as long as short
Binance NIGHTUSDTlong	+0.0100%	4h	0.02429	long leg	$5.3M	$6.5M	50x
Bybit NIGHTUSDT	+0.0100%	4h	0.02429	0.000%	$2.0M	$1.0M	50x	as long as short
OKX NIGHT-USDT-SWAP	+0.0100%	4h	0.02429	−0.004%	$1.6M	$1.9M	20x	as long as short
Gate NIGHT_USDTshort	+0.0100%	8h	0.02429	0.000%	$239K	$208K	20x
KuCoin NIGHTUSDTM	+0.0100%	4h	0.02429	−0.005%	$1.4M	$5.2M	50x	as long as short
Bitget NIGHTUSDT	+0.0100%	4h	0.02432	+0.124%	$682K	$414K	25x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX NIGHT-USDT	+0.0100%	4h	0.02428	−0.041%	$2K	$1.9M	20x	as long as short
BingX NIGHT-USDT	+0.0126%	4h	0.02429	0.000%	—	$6.6M	—	as long as short
MEXC NIGHT_USDT	+0.0250%	4h	0.02428	−0.041%	$785K	$450K	100x	as long as short
Deribit NIGHT_USDC-PERPETUAL	+0.0615%	1h	0.02431	+0.070%	$100	$99	10x	as long as short
Kraken Futures PF_NIGHTUSD	+0.7600%	1h	0.02434	+0.214%	$64K	$61K	25x	as long as short