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: SunX against Gate+0.085%7-day average +0.010% · you sell dearer than you buy

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

Long on Gate Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.048%+$5 on $10k

Price spread, last 4 days (all we have)+0.709%+$71 · spread now +0.085%, 7d avg +0.010%

Together, before fees+0.757%+$76 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: SunX is 0.075% dearer against Gate than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of +0.010%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate NIGHT_USDT	0.02357	0.0100	pay 0.0100% / 8h	7h 39m	$214K	$207K	20x
Short	SunX NIGHT-USDT	0.02359	0.0100	get 0.0050% / 4h	3h 39m	$2K	$1.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.085%Rate

Funding earned: $0
Price spread: +0.085% → +0.010%: $7.53
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee SunX: 4 bp × 2 orders: −$8
Net: −$15.47
Costs to cover: 0.230%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 51 min ago; SunX: live order book, 5 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 Gate live order book, 51 min ago	4.23 bp	197.0 bp −$197	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 5 min ago	502.01 bp	doesn't fit	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	−1.9480%	1h	0.02239	−5.015%	$1K	$74	50x	as long as short
Kraken Futures PF_NIGHTUSD	−0.5035%	1h	0.02346	−0.478%	$62K	$53K	25x	as long as short
Injective NIGHT/USDC PERP	+0.0033%	1h	0.02435	+3.309%	$1K	$58K	5.5x	as long as short
Aster NIGHTUSDT	+0.0100%	4h	0.02359	+0.074%	$18K	$37K	10x	as long as short
Binance NIGHTUSDT	+0.0100%	4h	0.02360	+0.111%	$5.1M	$5.4M	50x	as long as short
Bybit NIGHTUSDT	+0.0100%	4h	0.02360	+0.127%	$1.9M	$1.0M	50x	as long as short
OKX NIGHT-USDT-SWAP	+0.0100%	4h	0.02359	+0.098%	$1.5M	$1.7M	20x	as long as short
Gate NIGHT_USDTlong	+0.0100%	8h	0.02357	long leg	$214K	$207K	20x
KuCoin NIGHTUSDTM	+0.0100%	4h	0.02360	+0.130%	$1.3M	$5.4M	50x	as long as short
Bitget NIGHTUSDT	+0.0100%	4h	0.02361	+0.170%	$635K	$410K	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-USDTshort	+0.0100%	4h	0.02359	+0.085%	$2K	$1.5M	20x
BingX NIGHT-USDT	+0.0108%	4h	0.02359	+0.085%	—	$6.6M	—	as long as short
BloFin NIGHT-USDT	+0.0125%	4h	0.02359	+0.085%	$268K	$40K	50x	as long as short
MEXC NIGHT_USDT	+0.0216%	4h	0.02360	+0.127%	$777K	$356K	100x	as long as short
Deribit NIGHT_USDC-PERPETUAL	+0.0852%	1h	0.02362	+0.199%	$97	$99	10x	as long as short