Funding arb · Price arb /

S

all S markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.1364%/8h= +149.4% APRpaid last 24h +0.660%

Price spread now: Gate against Coinbase International+2.718%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 Gate

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 +$41 a day on $10k at the current rate, and Gate is 2.718% dearer against Coinbase International than usual: you sell high and buy low: +$272 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	0.03826	−0.1264	get 0.0158% / 1h	17m 16s	$47K	$5K	25x
Short	Gate S_USDT	0.03930	0.0100	get 0.0050% / 4h	2h 17m	$321K	$292K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +2.718%Rate

Funding earned: $286.44
Price spread: +2.718% → 0.000%: $271.82
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: $533.26
Costs to cover: 0.250%
Break-even: from the start

Slippage unknown: Coinbase International: no order-book sample; Gate: live order book, 3 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 Gate live order book, 3 min ago	7.65 bp	75.0 bp −$75	doesn't fit	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
Kraken Futures PF_SUSD	−0.1451%	1h	0.03933	+2.801%	$33K	$30K	10x	as long as short
Coinbase International S-PERP-INTXlong	−0.1264%	1h	0.03826	long leg	$47K	$5K	25x
Variational Omni S	−0.0936%	4h	0.03921	+2.477%	$610K	$34K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0190% / S +0.0184%	1h	0.03937	+2.912%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03933	+2.805%	$4	—	15x	as long as short
Orderly PERP_S_USDC	−0.0015%	4h	0.03937	+2.901%	$99K	$341K	10x	as long as short
01 Exchange SUSD	0.0000%	1h	0.03930	+2.718%	$24K	$3K	5x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03937	+2.908%	$607	—	150x	as long as short
Aster SUSDT	+0.0015%	4h	0.03937	+2.904%	$43K	$212K	10x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+7.162%	$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	0.03937	+2.901%	$165K	$240K	5x	as long as short
Hyperliquid S	+0.0100%	1h	0.03933	+2.797%	$994K	$899K	5x	as long as short
Binance SUSDT	+0.0100%	4h	0.03934	+2.827%	$5.4M	$23.4M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03928	+2.666%	$5.6M	$6.3M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.03935	+2.849%	$980K	$7.3M	20x	as long as short
Gate S_USDTshort	+0.0100%	4h	0.03930	+2.718%	$321K	$292K	50x
MEXC S_USDT	+0.0100%	4h	0.03935	+2.849%	$3.5M	$2.6M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03930	+2.718%	$1.8M	$3.1M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03935	+2.849%	$1.2M	$3.0M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03932	+2.771%	—	$6.8M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03930	+2.718%	$25K	$471K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03933	+2.798%	$221K	$883K	10x	as long as short
Backpack S_USDC_PERP	+0.0315%	1h	0.03940	+2.980%	$115K	$294K	5x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03927	+2.640%	$267K	$159K	75x	as long as short
Deribit S_USDC-PERPETUAL	+0.0512%	1h	0.03942	+3.032%	$66K	$10K	10x	as long as short