Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.006%

Price spread now: Gate against Bybit+0.203%7-day average +0.025% · you sell dearer than you buy

Net, funding: paid 7d − costs−$205as in the Funding arb table

Net, price: spread back to 7d avg − costs−$188as in the Price arb table

costs, in and out, $10k−$2062.061% of the position

Long on Bybit Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.015%+$2 on $10k

Price spread, last 4 days (all we have)−0.346%−$35 · spread now +0.203%, 7d avg +0.025%

Together, before fees−0.330%−$33 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 0.179% dearer against Bybit than usual: you sell high and buy low, +$18 on $10k if it goes back to its 7-day average of +0.025%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit SUSDT	0.03940	0.0100	pay 0.0050% / 4h	2h 44m	$5.6M	$4.4M	50x
Short	Gate S_USDT	0.03948	0.0100	get 0.0050% / 4h	2h 44m	$321K	$183K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Bybit. 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 BybitbpFee GatebpOrdersPrice spread, now +0.203%Rate

Funding earned: $0
Price spread: +0.203% → +0.025%: $17.85
Slippage, 4 orders: −$180.14
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$188.29
Costs to cover: 2.061%
Break-even: never at this rate

Slippage from Bybit: live order book, 4 min ago; Gate: live order book, 1 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 Bybit live order book, 4 min ago	2.54 bp	24.8 bp −$25	81.0 bp −$810	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	8.88 bp	66.8 bp −$67	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	−0.9016%	1h	0.03850	−2.284%	$24K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.1846%	1h	0.03939	−0.030%	$32K	$14K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1232%	1h	0.03929	−0.279%	$48K	$16K	25x	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.03948	+0.208%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03944	+0.092%	$4	—	15x	as long as short
Variational Omni S	−0.0091%	4h	0.03942	+0.046%	$612K	$29K	—	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03949	+0.229%	$609	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+4.061%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0083%	4h	0.03948	+0.203%	$98K	$431K	10x	as long as short
Lighter S	+0.0096%	1h	0.03951	+0.279%	$167K	$138K	5x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid S	+0.0100%	1h	0.03946	+0.157%	$993K	$588K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.03949	+0.223%	$46K	$142K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.03945	+0.137%	$5.5M	$13.5M	75x	as long as short
Bybit SUSDTlong	+0.0100%	4h	0.03940	long leg	$5.6M	$4.4M	50x
OKX S-USDT-SWAP	+0.0100%	4h	0.03943	+0.076%	$974K	$3.7M	20x	as long as short
Gate S_USDTshort	+0.0100%	4h	0.03948	+0.203%	$321K	$183K	50x
MEXC S_USDT	+0.0100%	4h	0.03946	+0.152%	$3.6M	$1.7M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03946	+0.152%	$1.8M	$2.7M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03950	+0.254%	$1.2M	$2.3M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03945	+0.127%	—	$6.8M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03950	+0.254%	$22K	$463K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03943	+0.068%	$222K	$595K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03951	+0.279%	$272K	$101K	75x	as long as short
Deribit S_USDC-PERPETUAL	+0.0510%	1h	0.03951	+0.279%	$66K	$10K	10x	as long as short
Backpack S_USDC_PERP	+0.2120%	1h	0.03960	+0.508%	$115K	$426K	5x	as long as short