Funding arb · Price arb /

S

all S markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.006%

Price spread now: Bybit against Gate−0.101%7-day average −0.025% · you buy dearer than you sell

Net, funding: paid 7d − costs−$212as in the Funding arb table

Net, price: spread back to 7d avg − costs−$219as in the Price arb table

costs, in and out, $10k−$2112.109% of the position

Long on Gate Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.015%−$2 on $10k

Price spread, last 4 days (all we have)+0.302%+$30 · spread now −0.101%, 7d avg −0.025%

Together, before fees+0.287%+$29 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: Bybit is 0.077% cheaper against Gate than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of −0.025%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate S_USDT	0.03945	0.0100	pay 0.0050% / 4h	3h 35m	$321K	$189K	50x
Short	Bybit SUSDT	0.03941	0.0100	get 0.0050% / 4h	3h 35m	$5.6M	$4.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.101%Rate

Funding earned: $0
Price spread: −0.101% → −0.025%: −$7.69
Slippage, 4 orders: −$184.91
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$218.59
Costs to cover: 2.109%
Break-even: never at this rate

Slippage from Gate: live order book, 14 min ago; Bybit: 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, 14 min ago	8.76 bp	81.2 bp −$81	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	2.54 bp	32.0 bp −$32	84.0 bp −$840	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	−0.2260%	1h	0.03942	−0.068%	$33K	$13K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1344%	1h	0.03927	−0.456%	$48K	$16K	25x	as long as short
01 Exchange SUSD	−0.0808%	1h	0.03940	−0.127%	$24K	$2K	5x	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.03945	−0.005%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03948	+0.079%	$4	—	15x	as long as short
Variational Omni S	−0.0027%	4h	0.03942	−0.081%	$612K	$30K	—	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03945	+0.005%	$608	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+3.929%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0081%	4h	0.03945	0.000%	$98K	$276K	10x	as long as short
Lighter S	+0.0096%	1h	0.03949	+0.101%	$166K	$156K	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	0.03947	+0.051%	$988K	$591K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.03947	+0.041%	$48K	$141K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.03946	+0.020%	$5.5M	$14.0M	75x	as long as short
Bybit SUSDTshort	+0.0100%	4h	0.03941	−0.101%	$5.6M	$4.6M	50x
OKX S-USDT-SWAP	+0.0100%	4h	0.03944	−0.025%	$981K	$3.8M	20x	as long as short
Gate S_USDTlong	+0.0100%	4h	0.03945	long leg	$321K	$189K	50x
MEXC S_USDT	+0.0100%	4h	0.03945	0.000%	$3.7M	$1.7M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03943	−0.051%	$1.8M	$2.7M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03947	+0.051%	$1.2M	$2.3M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03944	−0.025%	—	$6.8M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03950	+0.127%	$20K	$462K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03944	−0.016%	$224K	$1.1M	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03956	+0.279%	$274K	$102K	75x	as long as short
Deribit S_USDC-PERPETUAL	+0.0764%	1h	0.03949	+0.101%	$66K	$10K	10x	as long as short
Backpack S_USDC_PERP	+0.1838%	1h	0.03950	+0.127%	$115K	$424K	5x	as long as short