Funding arb · Price arb /

NIGHT

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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 Bitget−0.084%7-day average −0.019% · you buy dearer than you sell

Net, funding: paid 7d − costs−$388as in the Funding arb table

Net, price: spread back to 7d avg − costs−$391as in the Price arb table

costs, in and out, $10k−$3853.849% of the position

Long on Bitget Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.029%−$3 on $10k

Price spread, last 4 days (all we have)+0.127%+$13 · spread now −0.084%, 7d avg −0.019%

Together, before fees+0.098%+$10 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 0.065% cheaper against Bitget than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of −0.019%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget NIGHTUSDT	0.02378	0.0100	pay 0.0050% / 4h	43m 23s	$640K	$451K	25x
Short	Gate NIGHT_USDT	0.02376	0.0100	get 0.0100% / 8h	43m 23s	$215K	$204K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Bitget. 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 BitgetbpFee GatebpOrdersPrice spread, now −0.084%Rate

Funding earned: $0
Price spread: −0.084% → −0.019%: −$6.52
Slippage, 4 orders: −$357.87
Fee Bitget: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$391.39
Costs to cover: 3.849%
Break-even: never at this rate

Slippage from Bitget: live order book, 57 min ago; Gate: live order book, 53 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 Bitget live order book, 57 min ago	6.26 bp	25.5 bp −$26	262.0 bp −$2,620	doesn't fit	doesn't fit
Sell Gate live order book, 53 min ago	6.30 bp	148.1 bp −$148	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	−2.0856%	1h	0.02239	−5.854%	$1K	$74	50x	as long as short
Injective NIGHT/USDC PERP	+0.0033%	1h	0.02435	+2.397%	$1K	$58K	5.5x	as long as short
BloFin NIGHT-USDT	+0.0097%	4h	0.02379	+0.042%	$271K	$45K	50x	as long as short
Aster NIGHTUSDT	+0.0100%	4h	0.02377	−0.051%	$16K	$42K	10x	as long as short
Binance NIGHTUSDT	+0.0100%	4h	0.02376	−0.072%	$5.1M	$6.6M	50x	as long as short
Bybit NIGHTUSDT	+0.0100%	4h	0.02377	−0.042%	$1.9M	$1.1M	50x	as long as short
OKX NIGHT-USDT-SWAP	+0.0100%	4h	0.02376	−0.088%	$1.6M	$2.0M	20x	as long as short
Gate NIGHT_USDTshort	+0.0100%	8h	0.02376	−0.084%	$215K	$204K	20x
KuCoin NIGHTUSDTM	+0.0100%	4h	0.02374	−0.164%	$1.3M	$5.4M	50x	as long as short
Bitget NIGHTUSDTlong	+0.0100%	4h	0.02378	long leg	$640K	$451K	25x

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX NIGHT-USDT	+0.0100%	4h	0.02377	−0.042%	$1K	$1.9M	20x	as long as short
BingX NIGHT-USDT	+0.0108%	4h	0.02376	−0.084%	—	$6.6M	—	as long as short
MEXC NIGHT_USDT	+0.0216%	4h	0.02377	−0.042%	$769K	$454K	100x	as long as short
Deribit NIGHT_USDC-PERPETUAL	+0.0718%	1h	0.02380	+0.063%	$98	$99	10x	as long as short
Kraken Futures PF_NIGHTUSD	+0.2942%	1h	0.02364	−0.578%	$63K	$61K	25x	as long as short