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: Binance against Gate−0.073%7-day average −0.023% · you buy dearer than you sell

Net, funding: paid 7d − costs−$188as in the Funding arb table

Net, price: spread back to 7d avg − costs−$193as in the Price arb table

costs, in and out, $10k−$1881.878% of the position

Long on Gate Short on Binance

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)+0.107%+$11 · spread now −0.073%, 7d avg −0.023%

Together, before fees+0.107%+$11 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: Binance is 0.050% cheaper against Gate than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.023%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate PIXEL_USDT	0.005471	0.0100	pay 0.0050% / 4h	2h 12m	$150K	$39K	50x
Short	Binance PIXELUSDT	0.005467	0.0100	get 0.0050% / 4h	2h 12m	$1.8M	$1.7M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −0.073%Rate

Funding earned: $0
Price spread: −0.073% → −0.023%: −$5.02
Slippage, 4 orders: −$162.82
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Binance: 5 bp × 2 orders: −$10
Net: −$192.84
Costs to cover: 1.878%
Break-even: never at this rate

Slippage from Gate: live order book, 48 min ago; Binance: live order book, 6 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, 48 min ago	16.45 bp	63.6 bp −$64	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 6 min ago	2.74 bp	27.3 bp −$27	164.6 bp −$1,646	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	+0.889%	$5K	$2K	10x	as long as short
Aster PIXELUSDT	+0.0100%	4h	0.005470	−0.011%	$4K	$4K	5x	as long as short
Binance PIXELUSDTshort	+0.0100%	4h	0.005467	−0.073%	$1.8M	$1.7M	25x
Bybit PIXELUSDT	+0.0100%	4h	0.005470	−0.018%	$528K	$201K	25x	as long as short
Gate PIXEL_USDTlong	+0.0100%	4h	0.005471	long leg	$150K	$39K	50x
MEXC PIXEL_USDT	+0.0100%	4h	0.005468	−0.055%	$904K	$206K	20x	as long as short
KuCoin PIXELUSDTM	+0.0100%	4h	0.005469	−0.037%	$359K	$75K	25x	as long as short
Bitget PIXELUSDT	+0.0100%	4h	0.005469	−0.037%	$586K	$422K	25x	as long as short
BingX PIXEL-USDT	+0.0100%	4h	0.005468	−0.055%	—	$1.3M	—	as long as short
Variational Omni PIXEL	+0.0100%	4h	0.005474	+0.064%	$1K	$254	—	as long as short