Funding arb · Price arb /

S

all S markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0346%/8h= −37.9% APRpaid last 24h −0.100%

Price spread now: gTrade (Gains Network) against BloFin−0.026%7-day average — · you buy dearer than you sell

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

Long on BloFin Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 4 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

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and gTrade (Gains Network) is 0.026% cheaper against BloFin than usual: you would sell low and buy high (−$3 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin S-USDT	0.04307	0.0340	pay 0.0170% / 4h	3h 57m	$241K	$121K	75x
Short	gTrade (Gains Network) S/USD	0.04306	L +0.0001% / S +0.0006%	pay 0.0001% / 1h	57m 02s	$664	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against BloFin. 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 BloFinbpFee gTrade (Gains Network)bpOrdersPrice spread, now −0.026%Rate

Funding earned: −$72.68
Price spread: −0.026% → 0.000%: −$2.55
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$97.24
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: BloFin: live order book, 17 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 BloFin live order book, 17 min ago	4.65 bp	13.0 bp −$13	15.0 bp −$150	151.0 bp −$15.1K	doesn't fit
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	−0.2644%	1h	0.04292	−0.343%	$35K	$23K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1248%	1h	0.04283	−0.557%	$52K	$18K	25x	as long as short
Hyperliquid S	−0.0295%	1h	0.04300	−0.158%	$1.1M	$695K	5x	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.04306	−0.016%	$2K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.04300	−0.159%	$4	—	15x	as long as short
Variational Omni S	−0.0079%	4h	0.04433	+2.935%	$684K	$7K	—	as long as short
gTrade (Gains Network) S/USDshort	L +0.0001% / S +0.0006%	1h	0.04306	−0.026%	$664	—	150x
Injective S/USDC PERP	+0.0033%	1h	0.04100	−4.806%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0082%	4h	0.04304	−0.070%	$107K	$616K	10x	as long as short
Lighter S	+0.0096%	1h	0.04300	−0.163%	$185K	$99K	5x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster SUSDT	+0.0100%	4h	0.04300	−0.166%	$46K	$175K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.04302	−0.108%	$6.4M	$16.4M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.04288	−0.441%	$6.2M	$4.7M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.04292	−0.348%	$1.2M	$4.7M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.04295	−0.279%	$342K	$201K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.04300	−0.163%	$4.5M	$2.2M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.04296	−0.255%	$2.0M	$2.8M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.04304	−0.070%	$1.3M	$2.6M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.04300	−0.163%	—	$6.9M	—	as long as short
Backpack S_USDC_PERP	+0.0100%	1h	0.04300	−0.163%	$101K	$470K	5x	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.04380	+1.695%	$26K	$505K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.04293	−0.321%	$239K	$1.3M	10x	as long as short
Deribit S_USDC-PERPETUAL	+0.0215%	1h	0.04302	−0.116%	$72K	$10K	10x	as long as short
BloFin S-USDTlong	+0.0340%	4h	0.04307	long leg	$241K	$121K	75x
01 Exchange SUSD	+0.6336%	1h	0.04370	+1.463%	$27K	$2K	5x	as long as short