Funding arb · Price arb /

NIGHT

all NIGHT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+2.3428%/8h= +2565.4% APRpaid last 24h +7.013%

Price spread now: Gate against Coinbase International+10.861%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Coinbase International Short on Gate

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$703 a day on $10k at the current rate, and Gate is 10.861% dearer against Coinbase International than usual: you sell high and buy low: +$1,086 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International NIGHT-PERP-INTX	0.02180	−2.3328	get 0.2916% / 1h	9m 22s	$1K	—	50x
Short	Gate NIGHT_USDT	0.02417	0.0100	get 0.0100% / 8h	6h 09m	$222K	$203K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Coinbase International. 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 Coinbase InternationalbpFee GatebpOrdersPrice spread, now +10.861%Rate

Funding earned: $4,919.88
Price spread: +10.861% → 0.000%: $1,086.14
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: $5,981.02
Costs to cover: 0.250%
Break-even: from the start

Slippage unknown: Coinbase International: no order-book sample; Gate: live order book, 52 min ago. Net counts fees only.

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 Coinbase International no order-book sample	—	—	—	—	—
Sell Gate live order book, 52 min ago	4.14 bp	165.8 bp −$166	doesn't fit	doesn't fit	doesn't fit

Coinbase International: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

NIGHT on 14 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-INTXlong	−2.3328%	1h	0.02180	long leg	$1K	—	50x
Kraken Futures PF_NIGHTUSD	−0.1295%	1h	0.02420	+10.990%	$63K	$60K	25x	as long as short
Injective NIGHT/USDC PERP	+0.0033%	1h	0.02435	+11.687%	$1K	$58K	5.5x	as long as short
Aster NIGHTUSDT	+0.0100%	4h	0.02416	+10.830%	$27K	$34K	10x	as long as short
Binance NIGHTUSDT	+0.0100%	4h	0.02413	+10.678%	$5.3M	$6.5M	50x	as long as short
Bybit NIGHTUSDT	+0.0100%	4h	0.02415	+10.770%	$2.0M	$1.0M	50x	as long as short
OKX NIGHT-USDT-SWAP	+0.0100%	4h	0.02414	+10.719%	$1.6M	$1.9M	20x	as long as short
Gate NIGHT_USDTshort	+0.0100%	8h	0.02417	+10.861%	$222K	$203K	20x
KuCoin NIGHTUSDTM	+0.0100%	4h	0.02417	+10.877%	$1.4M	$5.3M	50x	as long as short
Bitget NIGHTUSDT	+0.0100%	4h	0.02416	+10.816%	$646K	$404K	25x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX NIGHT-USDT	+0.0100%	4h	0.02419	+10.953%	$2K	$1.9M	20x	as long as short
BingX NIGHT-USDT	+0.0120%	4h	0.02413	+10.678%	—	$6.6M	—	as long as short
MEXC NIGHT_USDT	+0.0238%	4h	0.02413	+10.678%	$848K	$461K	100x	as long as short
Deribit NIGHT_USDC-PERPETUAL	+0.0743%	1h	0.02419	+10.939%	$99	$99	10x	as long as short