Funding arb · Price arb /

S

all S markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0162%/8h= +17.7% APRpaid last 24h −0.064%

Price spread now: Deribit against Gate+0.128%7-day average — · you sell dearer than you buy

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

Long on Gate Short on Deribit

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

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Deribit is 0.128% dearer against Gate than usual: you sell high and buy low: +$13 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate S_USDT	0.03906	0.0100	pay 0.0050% / 4h	35m 04s	$319K	$259K	50x
Short	Deribit S_USDC-PERPETUAL	0.03911	0.0262	get 0.0033% / 1h	35m 04s	$66K	$10K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.128%Rate

Funding earned: $33.94
Price spread: +0.128% → 0.000%: $12.8
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $24.75
Costs to cover: 0.220%
Break-even: 1.9 days

Slippage unknown: Gate: live order book, 40 min ago; Deribit: no order-book sample. 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 Gate live order book, 40 min ago	5.13 bp	66.1 bp −$66	doesn't fit	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: 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	−0.6288%	1h	0.03840	−1.690%	$23K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.2137%	1h	0.03903	−0.083%	$33K	$25K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1336%	1h	0.03826	−2.048%	$47K	$5K	25x	as long as short
Variational Omni S	−0.1003%	4h	0.03900	−0.152%	$607K	$31K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0201% / S +0.0194%	1h	0.03907	+0.036%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03905	−0.038%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03909	+0.069%	$602	—	150x	as long as short
Orderly PERP_S_USDC	+0.0031%	4h	0.03905	−0.026%	$99K	$340K	10x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+4.967%	$2K	$37K	12x	as long as short
Lighter S	+0.0096%	1h	0.03911	+0.128%	$164K	$217K	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	0.03910	+0.095%	$980K	$694K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.03920	+0.351%	$43K	$145K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.03909	+0.066%	$5.3M	$17.4M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03903	−0.077%	$5.6M	$5.3M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.03907	+0.026%	$977K	$5.0M	20x	as long as short
Gate S_USDTlong	+0.0100%	4h	0.03906	long leg	$319K	$259K	50x
MEXC S_USDT	+0.0100%	4h	0.03909	+0.077%	$3.6M	$1.9M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03907	+0.026%	$1.8M	$2.9M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03911	+0.128%	$1.2M	$2.5M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03905	−0.026%	—	$6.7M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03910	+0.102%	$25K	$453K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03905	−0.035%	$220K	$877K	10x	as long as short
Deribit S_USDC-PERPETUALshort	+0.0262%	1h	0.03911	+0.128%	$66K	$10K	10x
Backpack S_USDC_PERP	+0.0294%	1h	0.03910	+0.102%	$114K	$311K	5x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03906	0.000%	$267K	$126K	75x	as long as short