Funding arb · Price arb /

S

all S markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0339%/8h= +37.2% APRpaid last 24h +0.098%

Price spread now: BloFin against gTrade (Gains Network)−0.298%50s7-day average — · you buy dearer than you sell

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

Long on gTrade (Gains Network)Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 3 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

Funding pays, the price is against you. BloFin is 0.298% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.298% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$30 on $10k: about 2.9 days of funding at the current rate (+$10 a day). The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) S/USD	0.04034	L +0.0001% / S +0.0006%	pay 0.0000% / 1h	16m 18s	$622	—	150x
Short	BloFin S-USDT	0.04022	0.0340	get 0.0170% / 4h	2h 16m	$276K	$115K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee BloFinbpOrdersPrice spread, now −0.298%Rate

Funding earned: $71.28
Price spread: −0.298% → 0.000%: −$29.77
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: $19.51
Costs to cover: 0.220%
Break-even: 5.1 days

Slippage unknown: gTrade (Gains Network): no order-book sample; BloFin: live order book, 8 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell BloFin live order book, 8 min ago	9.95 bp	21.5 bp −$21	62.0 bp −$620	doesn't fit	doesn't fit

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
01 Exchange SUSD	−1.0144%	1h	0.03850	−4.561%	$24K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.1804%	1h	0.04031	−0.067%	$35K	$16K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1232%	1h	0.03961	−1.810%	$48K	$18K	25x	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.04033	−0.025%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.04035	+0.015%	$4	—	15x	as long as short
Variational Omni S	−0.0081%	4h	0.04012	−0.538%	$623K	$25K	—	as long as short
gTrade (Gains Network) S/USDlong	L +0.0001% / S +0.0006%	1h	0.04034	long leg	$622	—	150x
Injective S/USDC PERP	+0.0033%	1h	0.04100	+1.636%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0084%	4h	0.04034	0.000%	$100K	$556K	10x	as long as short
Lighter S	+0.0096%	1h	0.04037	+0.074%	$172K	$140K	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	0.04035	+0.034%	$1.0M	$595K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04035	+0.028%	$48K	$111K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.04035	+0.028%	$5.7M	$13.7M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.04029	−0.124%	$5.7M	$4.3M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.04031	−0.075%	$1.0M	$3.8M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.04030	−0.099%	$328K	$185K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.04034	0.000%	$3.8M	$1.7M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.04033	−0.025%	$1.8M	$2.8M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.04035	+0.025%	$1.2M	$2.3M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.04034	0.000%	—	$6.8M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.04030	−0.099%	$24K	$484K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.04031	−0.064%	$226K	$593K	10x	as long as short
BloFin S-USDTshort	+0.0340%	4h	0.04022	−0.298%	$276K	$115K	75x
Deribit S_USDC-PERPETUAL	+0.0990%	1h	0.04037	+0.074%	$68K	$10K	10x	as long as short
Backpack S_USDC_PERP	+0.2384%	1h	0.04040	+0.148%	$117K	$426K	5x	as long as short