Funding arb · Price arb /

PIXEL

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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 0.000%

Price spread now: Gate against BingX+0.055%7-day average −0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs−$194as in the Funding arb table

Net, price: spread back to 7d avg − costs−$189as in the Price arb table

costs, in and out, $10k−$1941.945% of the position

Long on BingX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)−0.045%−$5 · spread now +0.055%, 7d avg −0.004%

Together, before fees−0.045%−$5 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: Gate is 0.059% dearer against BingX than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of −0.004%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX PIXEL-USDT	0.005468	0.0100	pay 0.0050% / 4h	2h 12m	—	$1.3M	—
Short	Gate PIXEL_USDT	0.005471	0.0100	get 0.0050% / 4h	2h 12m	$150K	$39K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against BingX. 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 BingXbpFee GatebpOrdersPrice spread, now +0.055%Rate

Funding earned: $0
Price spread: +0.055% → −0.004%: $5.85
Slippage, 4 orders: −$169.45
Fee BingX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$188.6
Costs to cover: 1.945%
Break-even: never at this rate

Slippage from BingX: live order book, 13 min ago; Gate: live order book, 48 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 BingX live order book, 13 min ago	9.10 bp	31.1 bp −$31	117.9 bp −$1,179	676.8 bp −$67.7K	844.5 bp −$422.3K
Sell Gate live order book, 48 min ago	16.45 bp	70.2 bp −$70	doesn't fit	doesn't fit	doesn't fit

PIXEL on 10 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
Kraken Futures PF_PIXELUSD	−0.0655%	1h	0.005520	+0.945%	$5K	$2K	10x	as long as short
Aster PIXELUSDT	+0.0100%	4h	0.005470	+0.044%	$4K	$4K	5x	as long as short
Binance PIXELUSDT	+0.0100%	4h	0.005467	−0.018%	$1.8M	$1.7M	25x	as long as short
Bybit PIXELUSDT	+0.0100%	4h	0.005470	+0.037%	$528K	$201K	25x	as long as short
Gate PIXEL_USDTshort	+0.0100%	4h	0.005471	+0.055%	$150K	$39K	50x
MEXC PIXEL_USDT	+0.0100%	4h	0.005468	0.000%	$904K	$206K	20x	as long as short
KuCoin PIXELUSDTM	+0.0100%	4h	0.005469	+0.018%	$359K	$75K	25x	as long as short
Bitget PIXELUSDT	+0.0100%	4h	0.005469	+0.018%	$586K	$422K	25x	as long as short
BingX PIXEL-USDTlong	+0.0100%	4h	0.005468	long leg	—	$1.3M	—
Variational Omni PIXEL	+0.0100%	4h	0.005474	+0.119%	$1K	$254	—	as long as short