Funding arb · Price arb /

SKL

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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 +0.124%

Price spread now: BingX against Gate0.000%7-day average +0.041% · you sell dearer than you buy

Net, funding: paid 7d − costs−$103as in the Funding arb table

Net, price: spread back to 7d avg − costs−$237as in the Price arb table

costs, in and out, $10k−$2332.331% of the position

Long on Gate Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+1.299%+$130 on $10k

Price spread, last 4 days (all we have)+0.087%+$9 · spread now 0.000%, 7d avg +0.041%

Together, before fees+1.386%+$139 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 0.041% cheaper against Gate than usual: you would sell low and buy high, −$4 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 SKL_USDT	0.004610	0.0100	pay 0.0050% / 4h	3h 18m	$199K	$243K	50x
Short	BingX SKL-USDT	0.004610	0.0100	get 0.0050% / 4h	3h 18m	—	$2.3M	—

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 0.000%Rate

Funding earned: $0
Price spread: 0.000% → +0.041%: −$4.11
Slippage, 4 orders: −$208.15
Fee Gate: 7.5 bp × 2 orders: −$15
Fee BingX: 5 bp × 2 orders: −$10
Net: −$237.26
Costs to cover: 2.331%
Break-even: never at this rate

Slippage from Gate: live order book, 48 min ago; BingX: live order book, 16 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, 48 min ago	21.83 bp	97.4 bp −$97	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 16 min ago	7.61 bp	31.3 bp −$31	71.9 bp −$719	407.9 bp −$40.8K	doesn't fit

SKL on 10 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
Bybit SKLUSDT	−0.0023%	8h	0.004612	+0.043%	$892K	$1.0M	25x	as long as short
BloFin SKL-USDT	+0.0068%	4h	0.004622	+0.260%	$183K	$44K	50x	as long as short
Bitget SKLUSDT	+0.0070%	4h	0.004606	−0.087%	$500K	$1.0M	25x	as long as short
Binance SKLUSDT	+0.0100%	4h	0.004609	−0.022%	$2.8M	$9.3M	50x	as long as short
Gate SKL_USDTlong	+0.0100%	4h	0.004610	long leg	$199K	$243K	50x
MEXC SKL_USDT	+0.0100%	4h	0.004608	−0.043%	$394K	$209K	20x	as long as short
KuCoin SKLUSDTM	+0.0100%	4h	0.004613	+0.065%	$836K	$364K	30x	as long as short
BingX SKL-USDTshort	+0.0100%	4h	0.004610	0.000%	—	$2.3M	—
Variational Omni SKL	+0.0100%	8h	0.004637	+0.580%	$712	$1K	—	as long as short
Kraken Futures PF_SKLUSD	+0.0400%	1h	0.004615	+0.103%	$5K	$5K	10x	as long as short