Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0106%/8h= −11.6% APRpaid last 24h −0.032%

Price spread now: gTrade (Gains Network) against BingX+0.169%7-day average — · you sell dearer than you buy

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

Long on BingX Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. gTrade (Gains Network) is 0.169% dearer against BingX than usual: you sell high and buy low (spread +0.169% now, against zero (this spread has no 7-day history yet)): +$17 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 5.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX S-USDT	0.03900	0.0100	pay 0.0050% / 4h	2h 36m	—	$6.8M	—
Short	gTrade (Gains Network) S/USD	0.03907	L +0.0001% / S +0.0006%	pay 0.0001% / 1h	36m 48s	$602	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now +0.169%Rate

Funding earned: −$22.28
Price spread: +0.169% → 0.000%: $16.92
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$25.36
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: BingX: live order book, 6 min ago; gTrade (Gains Network): no order-book sample. 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 BingX live order book, 6 min ago	3.83 bp	17.0 bp −$17	51.4 bp −$514	453.2 bp −$45.3K	796.2 bp −$398.1K
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

gTrade (Gains Network): no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

S on 25 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_SUSD	−0.1463%	1h	0.03902	+0.052%	$33K	$33K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1264%	1h	0.03826	−1.897%	$47K	$5K	25x	as long as short
Variational Omni S	−0.1172%	4h	0.03903	+0.077%	$608K	$34K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0173% / S +0.0169%	1h	0.03906	+0.162%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03905	+0.119%	$4	—	15x	as long as short
Aster SUSDT	−0.0034%	4h	0.03906	+0.149%	$43K	$212K	10x	as long as short
Orderly PERP_S_USDC	−0.0018%	4h	0.03905	+0.128%	$101K	$339K	10x	as long as short
01 Exchange SUSD	0.0000%	1h	0.03900	0.000%	$24K	$3K	5x	as long as short
gTrade (Gains Network) S/USDshort	L +0.0001% / S +0.0006%	1h	0.03907	+0.169%	$602	—	150x
Injective S/USDC PERP	+0.0033%	1h	0.04100	+5.128%	$2K	$37K	12x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter S	+0.0096%	1h	0.03903	+0.077%	$164K	$240K	5x	as long as short
OKX S-USDT-SWAP	+0.0097%	4h	0.03896	−0.103%	$970K	$7.4M	20x	as long as short
Hyperliquid S	+0.0100%	1h	0.03901	+0.033%	$984K	$911K	5x	as long as short
Binance SUSDT	+0.0100%	4h	0.03899	−0.024%	$5.3M	$24.0M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03893	−0.179%	$5.6M	$6.4M	50x	as long as short
Gate S_USDT	+0.0100%	4h	0.03896	−0.103%	$318K	$291K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03903	+0.077%	$3.4M	$2.5M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03901	+0.026%	$1.8M	$3.1M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03901	+0.026%	$1.2M	$3.0M	50x	as long as short
BingX S-USDTlong	+0.0100%	4h	0.03900	long leg	—	$6.8M	—
ApeX Omni SUSDT	+0.0100%	1h	0.03910	+0.256%	$23K	$470K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03902	+0.054%	$219K	$883K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03906	+0.154%	$270K	$178K	75x	as long as short
Deribit S_USDC-PERPETUAL	+0.0518%	1h	0.03910	+0.256%	$66K	$10K	10x	as long as short
Backpack S_USDC_PERP	+0.0562%	1h	0.03910	+0.256%	$114K	$288K	5x	as long as short