Funding arb · Price arb /

NIGHT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Bitget against Gate+0.169%7-day average +0.020% · you sell dearer than you buy

Net, funding: paid 7d − costs−$464as in the Funding arb table

Net, price: spread back to 7d avg − costs−$452as in the Price arb table

costs, in and out, $10k−$4674.669% of the position

Long on Gate Short on Bitget

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 +0.169%, 7d avg +0.020%

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: Bitget is 0.149% dearer against Gate than usual: you sell high and buy low, +$15 on $10k if it goes back to its 7-day average of +0.020%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate NIGHT_USDT	0.02367	0.0100	pay 0.0100% / 8h	7h 23m	$214K	$208K	20x
Short	Bitget NIGHTUSDT	0.02371	0.0100	get 0.0050% / 4h	3h 23m	$636K	$412K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.169%Rate

Funding earned: $0
Price spread: +0.169% → +0.020%: $14.89
Slippage, 4 orders: −$439.92
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$452.04
Costs to cover: 4.669%
Break-even: never at this rate

Slippage from Gate: live order book, 3 min ago; Bitget: live order book, 7 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	6.37 bp	255.8 bp −$256	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 7 min ago	8.47 bp	31.5 bp −$32	143.1 bp −$1,431	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	−1.9480%	1h	0.02239	−5.416%	$1K	$74	50x	as long as short
Kraken Futures PF_NIGHTUSD	−0.5017%	1h	0.02354	−0.539%	$62K	$54K	25x	as long as short
Injective NIGHT/USDC PERP	+0.0033%	1h	0.02435	+2.873%	$1K	$58K	5.5x	as long as short
Aster NIGHTUSDT	+0.0100%	4h	0.02368	+0.038%	$18K	$37K	10x	as long as short
Binance NIGHTUSDT	+0.0100%	4h	0.02368	+0.062%	$5.1M	$5.4M	50x	as long as short
Bybit NIGHTUSDT	+0.0100%	4h	0.02371	+0.169%	$1.9M	$1.0M	50x	as long as short
OKX NIGHT-USDT-SWAP	+0.0100%	4h	0.02367	−0.008%	$1.5M	$1.7M	20x	as long as short
Gate NIGHT_USDTlong	+0.0100%	8h	0.02367	long leg	$214K	$208K	20x
KuCoin NIGHTUSDTM	+0.0100%	4h	0.02368	+0.057%	$1.3M	$5.4M	50x	as long as short
Bitget NIGHTUSDTshort	+0.0100%	4h	0.02371	+0.169%	$636K	$412K	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	0.02364	−0.127%	$999	$1.5M	20x	as long as short
BloFin NIGHT-USDT	+0.0107%	4h	0.02357	−0.422%	$269K	$39K	50x	as long as short
BingX NIGHT-USDT	+0.0108%	4h	0.02370	+0.127%	—	$6.6M	—	as long as short
MEXC NIGHT_USDT	+0.0216%	4h	0.02369	+0.084%	$773K	$358K	100x	as long as short
Deribit NIGHT_USDC-PERPETUAL	+0.0891%	1h	0.02369	+0.076%	$97	$99	10x	as long as short