Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: BingX against Gate+0.073%7-day average +0.024% · you sell dearer than you buy

Net, funding: paid 7d − costs−$189as in the Funding arb table

Net, price: spread back to 7d avg − costs−$184as in the Price arb table

costs, in and out, $10k−$1891.889% of the position

Long on Gate Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.003%$0 on $10k

Price spread, last 4 days (all we have)−0.073%−$7 · spread now +0.073%, 7d avg +0.024%

Together, before fees−0.076%−$8 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: BingX is 0.049% dearer against Gate than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of +0.024%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate S_USDT	0.04097	0.0100	pay 0.0050% / 4h	56m 12s	$337K	$186K	50x
Short	BingX S-USDT	0.04100	0.0100	get 0.0050% / 4h	56m 12s	—	$6.7M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now +0.073%Rate

Funding earned: $0
Price spread: +0.073% → +0.024%: $4.9
Slippage, 4 orders: −$163.93
Fee Gate: 7.5 bp × 2 orders: −$15
Fee BingX: 5 bp × 2 orders: −$10
Net: −$184.03
Costs to cover: 1.889%
Break-even: never at this rate

Slippage from Gate: live order book, 64 min ago; BingX: live order book, 11 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, 64 min ago	8.67 bp	65.9 bp −$66	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 11 min ago	6.10 bp	24.7 bp −$25	66.7 bp −$667	366.4 bp −$36.6K	716.9 bp −$358.5K

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	−0.9984%	1h	0.03970	−3.100%	$25K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.2493%	1h	0.04094	−0.069%	$34K	$13K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1376%	1h	0.04022	−1.831%	$48K	$16K	25x	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.04107	+0.237%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.04098	+0.027%	$4	—	15x	as long as short
Variational Omni S	−0.0076%	4h	0.04088	−0.216%	$635K	$31K	—	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04104	+0.179%	$3K	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+0.073%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0068%	4h	0.04104	+0.171%	$102K	$308K	10x	as long as short
Lighter S	+0.0096%	1h	0.04106	+0.220%	$172K	$153K	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	0.04104	+0.161%	$1.0M	$559K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04097	−0.007%	$45K	$133K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.04102	+0.119%	$5.7M	$13.7M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.04098	+0.024%	$5.9M	$4.5M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.04099	+0.049%	$1.1M	$4.0M	20x	as long as short
Gate S_USDTlong	+0.0100%	4h	0.04097	long leg	$337K	$186K	50x
MEXC S_USDT	+0.0100%	4h	0.04102	+0.122%	$4.0M	$1.7M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.04100	+0.073%	$1.9M	$2.7M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.04102	+0.122%	$1.2M	$2.1M	50x	as long as short
BingX S-USDTshort	+0.0100%	4h	0.04100	+0.073%	—	$6.7M	—
ApeX Omni SUSDT	+0.0100%	1h	0.04100	+0.073%	$25K	$452K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.04099	+0.045%	$230K	$1.1M	10x	as long as short
Deribit S_USDC-PERPETUAL	+0.0237%	1h	0.04109	+0.293%	$69K	$10K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.04089	−0.195%	$283K	$99K	75x	as long as short
Backpack S_USDC_PERP	+0.0502%	1h	0.04100	+0.073%	$120K	$389K	5x	as long as short