Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.1332%/8h= +145.9% APRpaid last 24h +0.568%

Price spread now: Bitget against Coinbase International+0.833%7-day average — · you sell dearer than you buy

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

Long on Coinbase International Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 5 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 for this trade now. Funding pays +$40 a day on $10k at the current rate, and Bitget is 0.833% dearer against Coinbase International than usual: you sell high and buy low: +$83 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International S-PERP-INTX	0.03961	−0.1232	get 0.0154% / 1h	32m 18s	$48K	$18K	25x
Short	Bitget SUSDT	0.03994	0.0100	get 0.0050% / 4h	2h 32m	$1.2M	$2.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Coinbase International. 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 Coinbase InternationalbpFee BitgetbpOrdersPrice spread, now +0.833%Rate

Funding earned: $279.72
Price spread: +0.833% → 0.000%: $83.31
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: $341.03
Costs to cover: 0.220%
Break-even: from the start

Slippage unknown: Coinbase International: no order-book sample; Bitget: live order book, 5 min ago. 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 Coinbase International no order-book sample	—	—	—	—	—
Sell Bitget live order book, 5 min ago	6.34 bp	19.5 bp −$19	96.3 bp −$963	doesn't fit	doesn't fit

Coinbase International: 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
01 Exchange SUSD	−0.8776%	1h	0.03850	−2.802%	$24K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.1819%	1h	0.03997	+0.918%	$35K	$16K	10x	as long as short
Coinbase International S-PERP-INTXlong	−0.1232%	1h	0.03961	long leg	$48K	$18K	25x
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.03986	+0.631%	$1K	—	100x	as long as short
Variational Omni S	−0.0125%	4h	0.03973	+0.300%	$617K	$30K	—	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03983	+0.565%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03986	+0.619%	$614	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+3.509%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0083%	4h	0.03984	+0.581%	$99K	$516K	10x	as long as short
Lighter S	+0.0096%	1h	0.03991	+0.757%	$169K	$139K	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	0.03984	+0.593%	$1.0M	$594K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.03996	+0.872%	$46K	$142K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.03997	+0.909%	$5.7M	$13.8M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03987	+0.656%	$5.7M	$4.5M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.03996	+0.884%	$1.0M	$3.8M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.03979	+0.454%	$324K	$185K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03997	+0.909%	$3.6M	$1.7M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03993	+0.808%	$1.8M	$2.7M	50x	as long as short
Bitget SUSDTshort	+0.0100%	4h	0.03994	+0.833%	$1.2M	$2.3M	50x
BingX S-USDT	+0.0100%	4h	0.03984	+0.581%	—	$6.8M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.04010	+1.237%	$23K	$480K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03990	+0.724%	$224K	$596K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03976	+0.379%	$269K	$107K	75x	as long as short
Deribit S_USDC-PERPETUAL	+0.1003%	1h	0.03996	+0.884%	$67K	$10K	10x	as long as short
Backpack S_USDC_PERP	+0.2046%	1h	0.03990	+0.732%	$116K	$426K	5x	as long as short