Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.005%

Price spread now: Binance against Gate+0.176%7-day average +0.041% · you sell dearer than you buy

Net, funding: paid 7d − costs−$199as in the Funding arb table

Net, price: spread back to 7d avg − costs−$176as in the Price arb table

costs, in and out, $10k−$1891.895% of the position

Long on Gate Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.094%−$9 on $10k

Price spread, last 4 days (all we have)+0.150%+$15 · spread now +0.176%, 7d avg +0.041%

Together, before fees+0.056%+$6 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: Binance is 0.136% dearer against Gate than usual: you sell high and buy low, +$14 on $10k if it goes back to its 7-day average of +0.041%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate S_USDT	0.03925	0.0100	pay 0.0050% / 4h	1h 44m	$321K	$265K	50x
Short	Binance SUSDT	0.03932	0.0100	get 0.0050% / 4h	1h 44m	$5.4M	$20.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Gate. 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 GatebpFee BinancebpOrdersPrice spread, now +0.176%Rate

Funding earned: $0
Price spread: +0.176% → +0.041%: $13.55
Slippage, 4 orders: −$164.46
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Binance: 5 bp × 2 orders: −$10
Net: −$175.9
Costs to cover: 1.895%
Break-even: never at this rate

Slippage from Gate: live order book, 36 min ago; Binance: live order book, 12 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 Gate live order book, 36 min ago	7.65 bp	76.9 bp −$77	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 12 min ago	2.55 bp	15.9 bp −$16	57.1 bp −$571	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
Kraken Futures PF_SUSD	−0.1591%	1h	0.03929	+0.090%	$33K	$28K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1576%	1h	0.03826	−2.522%	$47K	$5K	25x	as long as short
Variational Omni S	−0.0862%	4h	0.03922	−0.073%	$611K	$32K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0194% / S +0.0187%	1h	0.03936	+0.268%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03929	+0.106%	$4	—	15x	as long as short
01 Exchange SUSD	−0.0016%	1h	0.03930	+0.127%	$24K	$2K	5x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03935	+0.246%	$606	—	150x	as long as short
Deribit S_USDC-PERPETUAL	+0.0004%	1h	0.03938	+0.331%	$66K	$10K	10x	as long as short
Orderly PERP_S_USDC	+0.0023%	4h	0.03933	+0.204%	$100K	$348K	10x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+4.459%	$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
Aster SUSDT	+0.0048%	4h	0.03930	+0.133%	$43K	$212K	10x	as long as short
Lighter S	+0.0096%	1h	0.03936	+0.280%	$165K	$222K	5x	as long as short
Hyperliquid S	+0.0100%	1h	0.03930	+0.135%	$987K	$787K	5x	as long as short
Binance SUSDTshort	+0.0100%	4h	0.03932	+0.176%	$5.4M	$20.6M	75x
Bybit SUSDT	+0.0100%	4h	0.03927	+0.051%	$5.6M	$5.9M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.03932	+0.178%	$980K	$6.5M	20x	as long as short
Gate S_USDTlong	+0.0100%	4h	0.03925	long leg	$321K	$265K	50x
MEXC S_USDT	+0.0100%	4h	0.03934	+0.229%	$3.6M	$2.3M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03925	0.000%	$1.8M	$3.1M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03933	+0.204%	$1.2M	$2.7M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03930	+0.127%	—	$6.8M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03920	−0.127%	$25K	$465K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03931	+0.154%	$221K	$881K	10x	as long as short
Backpack S_USDC_PERP	+0.0333%	1h	0.03930	+0.127%	$114K	$300K	5x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03934	+0.229%	$268K	$128K	75x	as long as short