Funding arb · Price arb /

NIGHT

all NIGHT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Binance against Gate+0.006%7-day average −0.032% · you sell dearer than you buy

Net, funding: paid 7d − costs−$420as in the Funding arb table

Net, price: spread back to 7d avg − costs−$420as in the Price arb table

costs, in and out, $10k−$4244.238% of the position

Long on Gate Short on Binance

What this pair did over the last

the charts below follow

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

Price spread, last 4 days (all we have)−0.109%−$11 · spread now +0.006%, 7d avg −0.032%

Together, before fees−0.066%−$7 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: Binance is 0.037% dearer against Gate than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.032%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate NIGHT_USDT	0.02436	0.0100	pay 0.0100% / 8h	5h 18m	$224K	$204K	20x
Short	Binance NIGHTUSDT	0.02436	0.0100	get 0.0050% / 4h	1h 18m	$5.4M	$6.5M	50x

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 +0.006%Rate

Funding earned: $0
Price spread: +0.006% → −0.032%: $3.74
Slippage, 4 orders: −$398.78
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Binance: 5 bp × 2 orders: −$10
Net: −$420.04
Costs to cover: 4.238%
Break-even: never at this rate

Slippage from Gate: live order book, 38 min ago; Binance: live order book, 5 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, 38 min ago	4.13 bp	223.9 bp −$224	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 5 min ago	2.05 bp	24.5 bp −$24	154.1 bp −$1,541	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	−10.501%	$1K	—	50x	as long as short
Injective NIGHT/USDC PERP	+0.0033%	1h	0.02435	−0.041%	$1K	$58K	5.5x	as long as short
Aster NIGHTUSDT	+0.0100%	4h	0.02437	+0.042%	$27K	$35K	10x	as long as short
Binance NIGHTUSDTshort	+0.0100%	4h	0.02436	+0.006%	$5.4M	$6.5M	50x
Bybit NIGHTUSDT	+0.0100%	4h	0.02436	0.000%	$2.0M	$1.0M	50x	as long as short
OKX NIGHT-USDT-SWAP	+0.0100%	4h	0.02434	−0.094%	$1.6M	$1.9M	20x	as long as short
Gate NIGHT_USDTlong	+0.0100%	8h	0.02436	long leg	$224K	$204K	20x
KuCoin NIGHTUSDTM	+0.0100%	4h	0.02441	+0.204%	$1.4M	$5.2M	50x	as long as short
Bitget NIGHTUSDT	+0.0100%	4h	0.02437	+0.041%	$652K	$399K	25x	as long as short
SunX NIGHT-USDT	+0.0100%	4h	0.02438	+0.082%	$1K	$1.9M	20x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX NIGHT-USDT	+0.0126%	4h	0.02435	−0.041%	—	$6.6M	—	as long as short
BloFin NIGHT-USDT	+0.0129%	4h	0.02439	+0.123%	$287K	$42K	50x	as long as short
MEXC NIGHT_USDT	+0.0250%	4h	0.02436	0.000%	$810K	$458K	100x	as long as short
Deribit NIGHT_USDC-PERPETUAL	+0.0776%	1h	0.02439	+0.131%	$100	$99	10x	as long as short
Kraken Futures PF_NIGHTUSD	+0.5555%	1h	0.02448	+0.477%	$64K	$60K	25x	as long as short