Funding arb · Price arb /

S

all S markets

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: Gate against BingX0.000%7-day average −0.021% · you sell dearer than you buy

Net, funding: paid 7d − costs−$185as in the Funding arb table

Net, price: spread back to 7d avg − costs−$183as in the Price arb table

costs, in and out, $10k−$1851.855% of the position

Long on BingX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.003%$0 on $10k

Price spread, last 4 days (all we have)−0.063%−$6 · spread now 0.000%, 7d avg −0.021%

Together, before fees−0.060%−$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: Gate is 0.021% dearer against BingX than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of −0.021%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX S-USDT	0.03920	0.0100	pay 0.0050% / 4h	16m 05s	—	$6.7M	—
Short	Gate S_USDT	0.03920	0.0100	get 0.0050% / 4h	16m 05s	$319K	$259K	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 0.000%Rate

Funding earned: $0
Price spread: 0.000% → −0.021%: $2.09
Slippage, 4 orders: −$160.48
Fee BingX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$183.39
Costs to cover: 1.855%
Break-even: never at this rate

Slippage from BingX: live order book, 6 min ago; Gate: live order book, 59 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, 6 min ago	3.84 bp	22.0 bp −$22	58.6 bp −$586	491.3 bp −$49.1K	778.4 bp −$389.2K
Sell Gate live order book, 59 min ago	5.13 bp	79.4 bp −$79	doesn't fit	doesn't fit	doesn't fit

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
01 Exchange SUSD	−0.5840%	1h	0.03850	−1.786%	$23K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.2127%	1h	0.03921	+0.015%	$33K	$23K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1336%	1h	0.03826	−2.398%	$47K	$5K	25x	as long as short
Variational Omni S	−0.0981%	4h	0.03914	−0.155%	$609K	$31K	—	as long as short
Deribit S_USDC-PERPETUAL	−0.0259%	1h	0.03924	+0.102%	$66K	$10K	10x	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0204% / S +0.0196%	1h	0.03926	+0.148%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03918	−0.053%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03924	+0.109%	$605	—	150x	as long as short
Orderly PERP_S_USDC	+0.0028%	4h	0.03920	0.000%	$100K	$339K	10x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+4.592%	$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	0.03925	+0.128%	$164K	$217K	5x	as long as short
Hyperliquid S	+0.0100%	1h	0.03922	+0.051%	$983K	$678K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.03925	+0.127%	$43K	$145K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.03921	+0.026%	$5.4M	$17.0M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03919	−0.026%	$5.6M	$5.2M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.03921	+0.026%	$979K	$4.9M	20x	as long as short
Gate S_USDTshort	+0.0100%	4h	0.03920	0.000%	$319K	$259K	50x
MEXC S_USDT	+0.0100%	4h	0.03920	0.000%	$3.6M	$1.9M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03917	−0.077%	$1.8M	$2.9M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03922	+0.051%	$1.2M	$2.5M	50x	as long as short
BingX S-USDTlong	+0.0100%	4h	0.03920	long leg	—	$6.7M	—
Backpack S_USDC_PERP	+0.0100%	1h	0.03920	0.000%	$114K	$312K	5x	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03920	0.000%	$25K	$449K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03918	−0.051%	$220K	$877K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03919	−0.026%	$266K	$125K	75x	as long as short