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: Bitget against Gate+0.178%7-day average +0.088% · you sell dearer than you buy

Net, funding: paid 7d − costs−$206as in the Funding arb table

Net, price: spread back to 7d avg − costs−$189as in the Price arb table

costs, in and out, $10k−$1981.983% of the position

Long on Gate Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.073%−$7 on $10k

Price spread, last 4 days (all we have)−0.021%−$2 · spread now +0.178%, 7d avg +0.088%

Together, before fees−0.093%−$9 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: Bitget is 0.091% dearer against Gate than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of +0.088%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate S_USDT	0.03927	0.0100	pay 0.0050% / 4h	5m 23s	$320K	$199K	50x
Short	Bitget SUSDT	0.03934	0.0100	get 0.0050% / 4h	5m 23s	$1.2M	$2.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.178%Rate

Funding earned: $0
Price spread: +0.178% → +0.088%: $9.07
Slippage, 4 orders: −$171.34
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$189.27
Costs to cover: 1.983%
Break-even: never at this rate

Slippage from Gate: live order book, 50 min ago; Bitget: live order book, 2 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, 50 min ago	8.55 bp	67.1 bp −$67	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 2 min ago	6.27 bp	17.0 bp −$17	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
01 Exchange SUSD	−0.6480%	1h	0.03920	−0.178%	$24K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.2629%	1h	0.03883	−1.112%	$32K	$13K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1376%	1h	0.03963	+0.917%	$48K	$16K	25x	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.03932	+0.135%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03927	+0.009%	$4	—	15x	as long as short
Variational Omni S	−0.0036%	4h	0.03906	−0.527%	$607K	$30K	—	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03933	+0.145%	$606	—	150x	as long as short
Deribit S_USDC-PERPETUAL	+0.0006%	1h	0.03913	−0.357%	$66K	$10K	10x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+4.405%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0071%	4h	0.03932	+0.127%	$97K	$281K	10x	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	0.03935	+0.204%	$165K	$158K	5x	as long as short
Hyperliquid S	+0.0100%	1h	0.03929	+0.051%	$984K	$570K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.03937	+0.246%	$43K	$131K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.03930	+0.081%	$5.3M	$13.9M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03923	−0.102%	$5.7M	$4.6M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.03926	−0.025%	$997K	$3.8M	20x	as long as short
Gate S_USDTlong	+0.0100%	4h	0.03927	long leg	$320K	$199K	50x
MEXC S_USDT	+0.0100%	4h	0.03930	+0.076%	$3.6M	$1.8M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03924	−0.076%	$1.8M	$2.7M	50x	as long as short
Bitget SUSDTshort	+0.0100%	4h	0.03934	+0.178%	$1.2M	$2.2M	50x
BingX S-USDT	+0.0100%	4h	0.03928	+0.025%	—	$6.8M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03990	+1.604%	$24K	$463K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03929	+0.054%	$221K	$1.1M	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03987	+1.528%	$270K	$96K	75x	as long as short
Backpack S_USDC_PERP	+0.1088%	1h	0.03930	+0.076%	$114K	$421K	5x	as long as short