Funding arb · Price arb /

NOT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: BingX against Gate+0.020%7-day average −0.035% · you sell dearer than you buy

Net, funding: paid 7d − costs−$364as in the Funding arb table

Net, price: spread back to 7d avg − costs−$360as in the Price arb table

costs, in and out, $10k−$3653.651% of the position

Long on Gate Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.015%+$2 on $10k

Price spread, last 4 days (all we have)−0.084%−$8 · spread now +0.020%, 7d avg −0.035%

Together, before fees−0.068%−$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: BingX is 0.055% dearer against Gate than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of −0.035%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate NOT_USDT	0.0005035	0.0100	pay 0.0050% / 4h	2h 41m	$140K	$76K	50x
Short	BingX NOT-USDC	0.0005036	0.0100	get 0.0050% / 4h	2h 41m	—	$721K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now +0.020%Rate

Funding earned: $0
Price spread: +0.020% → −0.035%: $5.52
Slippage, 4 orders: −$340.12
Fee Gate: 7.5 bp × 2 orders: −$15
Fee BingX: 5 bp × 2 orders: −$10
Net: −$359.6
Costs to cover: 3.651%
Break-even: never at this rate

Slippage from Gate: live order book, 41 min ago; BingX: live order book, 17 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, 41 min ago	6.94 bp	33.9 bp −$34	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 17 min ago	3.97 bp	138.8 bp −$139	762.6 bp −$7,626	doesn't fit	doesn't fit

NOT on 16 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
Variational Omni NOT	+0.0014%	4h	0.0005039	+0.070%	$66K	$34K	—	as long as short
Injective NOT/USDC PERP	+0.0033%	1h	0.0004874	−3.198%	$1K	$13K	5.5x	as long as short
BloFin NOT-USDT	+0.0057%	4h	0.0005041	+0.119%	$113K	$17K	50x	as long as short
Lighter 1000NOT	+0.0096%	1h	0.0005046	+0.226%	$11K	$5K	3x	as long as short
Hyperliquid NOT	+0.0100%	1h	0.0005040	+0.099%	$368K	$50K	3x	as long as short
Aster NOTUSDT	+0.0100%	4h	0.0005033	−0.040%	$14K	$13K	5x	as long as short
Binance NOTUSDT	+0.0100%	4h	0.0005034	−0.026%	$2.1M	$3.0M	50x	as long as short
Bybit NOTUSDT	+0.0100%	4h	0.0005029	−0.119%	$2.1M	$803K	25x	as long as short
OKX NOT-USDT-SWAP	+0.0100%	4h	0.0005034	−0.020%	$611K	$577K	20x	as long as short
Gate NOT_USDTlong	+0.0100%	4h	0.0005035	long leg	$140K	$76K	50x

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC NOT_USDT	+0.0100%	4h	0.0005033	−0.040%	$1.4M	$485K	200x	as long as short
KuCoin NOTUSDTM	+0.0100%	4h	0.0005035	0.000%	$488K	$116K	50x	as long as short
Bitget NOTUSDT	+0.0100%	4h	0.0005038	+0.060%	$663K	$379K	50x	as long as short
BingX NOT-USDCshort	+0.0100%	4h	0.0005036	+0.020%	—	$721K	—
Extended kNOT-USD	+0.0104%	1h	0.0005032	−0.050%	$4K	$1K	5x	as long as short
Kraken Futures PF_NOTUSD	+0.7075%	1h	0.0005078	+0.850%	$49K	$9K	10x	as long as short