Funding arb · Price arb /

NOT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.013%

Price spread now: Bybit against Gate−0.039%7-day average −0.140% · you buy dearer than you sell

Net, funding: paid 7d − costs−$146as in the Funding arb table

Net, price: spread back to 7d avg − costs−$136as in the Price arb table

costs, in and out, $10k−$1461.460% of the position

Long on Gate Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.001%$0 on $10k

Price spread, last 4 days (all we have)−0.060%−$6 · spread now −0.039%, 7d avg −0.140%

Together, before fees−0.061%−$6 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: Bybit is 0.101% dearer against Gate than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of −0.140%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate NOT_USDT	0.0005079	0.0100	pay 0.0050% / 4h	2h 11m	$143K	$82K	50x
Short	Bybit NOTUSDT	0.0005077	0.0100	get 0.0050% / 4h	2h 11m	$2.1M	$873K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.039%Rate

Funding earned: $0
Price spread: −0.039% → −0.140%: $10.09
Slippage, 4 orders: −$119.96
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$135.87
Costs to cover: 1.460%
Break-even: never at this rate

Slippage from Gate: live order book, 49 min ago; Bybit: live order book, just now.

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, 49 min ago	9.88 bp	39.1 bp −$39	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, just now	2.96 bp	28.9 bp −$29	134.8 bp −$1,348	doesn't fit	doesn't fit

NOT 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
Variational Omni NOT	−0.0257%	4h	0.0005069	−0.206%	$72K	$39K	—	as long as short
KuCoin NOTUSDTM	−0.0066%	4h	0.0005064	−0.295%	$464K	$134K	50x	as long as short
Injective NOT/USDC PERP	+0.0033%	1h	0.0004874	−4.036%	$1K	$13K	5.5x	as long as short
Lighter 1000NOT	+0.0096%	1h	0.0005092	+0.264%	$11K	$5K	3x	as long as short
Hyperliquid NOT	+0.0100%	1h	0.0005090	+0.217%	$371K	$52K	3x	as long as short
Aster NOTUSDT	+0.0100%	4h	0.0005079	−0.004%	$14K	$9K	5x	as long as short
Binance NOTUSDT	+0.0100%	4h	0.0005082	+0.067%	$2.1M	$3.1M	50x	as long as short
Bybit NOTUSDTshort	+0.0100%	4h	0.0005077	−0.039%	$2.1M	$873K	25x
OKX NOT-USDT-SWAP	+0.0100%	4h	0.0005081	+0.039%	$636K	$660K	20x	as long as short
Gate NOT_USDTlong	+0.0100%	4h	0.0005079	long leg	$143K	$82K	50x

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC NOT_USDT	+0.0100%	4h	0.0005082	+0.059%	$1.3M	$474K	200x	as long as short
Bitget NOTUSDT	+0.0100%	4h	0.0005083	+0.079%	$674K	$410K	50x	as long as short
BingX NOT-USDC	+0.0100%	4h	0.0005078	−0.020%	—	$723K	—	as long as short
Extended kNOT-USD	+0.0104%	1h	0.0005081	+0.046%	$4K	$491	5x	as long as short
Kraken Futures PF_NOTUSD	+0.0202%	1h	0.0005085	+0.109%	$50K	$10K	10x	as long as short