Funding arb · Price arb /

SQD

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Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: Bitget against Binance−0.345%7-day average −0.136% · you buy dearer than you sell

Net, funding: paid 7d − costs−$146as in the Funding arb table

Net, price: spread back to 7d avg − costs−$167as in the Price arb table

costs, in and out, $10k−$1461.457% of the position

Long on Binance Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)+0.287%+$29 · spread now −0.345%, 7d avg −0.136%

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: Bitget is 0.209% cheaper against Binance than usual: you would sell low and buy high, −$21 on $10k if it goes back to its 7-day average of −0.136%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance SQDUSDT	0.02896	0.0100	pay 0.0050% / 4h	1h 00m	$1.2M	$1.3M	50x
Short	Bitget SQDUSDT	0.02886	0.0100	get 0.0050% / 4h	1h 00m	$739K	$82K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Binance. 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 BinancebpFee BitgetbpOrdersPrice spread, now −0.345%Rate

Funding earned: $0
Price spread: −0.345% → −0.136%: −$20.93
Slippage, 4 orders: −$123.68
Fee Binance: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$166.6
Costs to cover: 1.457%
Break-even: never at this rate

Slippage from Binance: live order book, 2 min ago; Bitget: live order book, 15 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 Binance live order book, 2 min ago	3.46 bp	44.7 bp −$45	204.3 bp −$2,043	doesn't fit	doesn't fit
Sell Bitget live order book, 15 min ago	7.01 bp	30.5 bp −$30	131.7 bp −$1,317	doesn't fit	doesn't fit

SQD 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
BloFin SQD-USDT	+0.0096%	4h	0.02893	−0.104%	$81K	$43K	50x	as long as short
Aster SQDUSDT	+0.0100%	4h	0.02890	−0.207%	$15K	$1K	5x	as long as short
Binance SQDUSDTlong	+0.0100%	4h	0.02896	long leg	$1.2M	$1.3M	50x
Bybit SQDUSDT	+0.0100%	4h	0.02886	−0.345%	$900K	$510K	20x	as long as short
Gate SQD_USDT	+0.0100%	4h	0.02887	−0.311%	$608K	$45K	20x	as long as short
MEXC SQD_USDT	+0.0100%	4h	0.02896	0.000%	$5.9M	$174K	50x	as long as short
KuCoin SQDUSDTM	+0.0100%	4h	0.02888	−0.276%	$406K	$1.3M	50x	as long as short
Bitget SQDUSDTshort	+0.0100%	4h	0.02886	−0.345%	$739K	$82K	25x
BingX SQD-USDT	+0.0100%	4h	0.02890	−0.207%	—	$2.3M	—	as long as short
Variational Omni SQD	+0.0100%	4h	0.02881	−0.531%	$11K	$52K	—	as long as short