Funding arb · Price arb /

SQD

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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 0.000%

Price spread now: Gate against BingX−0.105%7-day average −0.084% · you buy dearer than you sell

Net, funding: paid 7d − costs−$454as in the Funding arb table

Net, price: spread back to 7d avg − costs−$456as in the Price arb table

costs, in and out, $10k−$4544.541% of the position

Long on BingX Short on Gate

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)−0.116%−$12 · spread now −0.105%, 7d avg −0.084%

Together, before fees−0.116%−$12 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: Gate is 0.020% cheaper against BingX than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of −0.084%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX SQD-USDT	0.02870	0.0100	pay 0.0050% / 4h	2h 32m	—	$2.3M	—
Short	Gate SQD_USDT	0.02867	0.0100	get 0.0050% / 4h	2h 32m	$604K	$29K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against BingX. 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 BingXbpFee GatebpOrdersPrice spread, now −0.105%Rate

Funding earned: $0
Price spread: −0.105% → −0.084%: −$2.01
Slippage, 4 orders: −$429.14
Fee BingX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$456.15
Costs to cover: 4.541%
Break-even: never at this rate

Slippage from BingX: live order book, 2 min ago; Gate: live order book, 14 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 BingX live order book, 2 min ago	10.46 bp	37.2 bp −$37	107.1 bp −$1,071	1263.4 bp −$126.3K	1532.6 bp −$766.3K
Sell Gate live order book, 14 min ago	12.13 bp	189.1 bp −$189	doesn't fit	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
Aster SQDUSDT	+0.0100%	4h	0.02869	−0.029%	$15K	$1K	5x	as long as short
Binance SQDUSDT	+0.0100%	4h	0.02877	+0.244%	$1.2M	$1.3M	50x	as long as short
Bybit SQDUSDT	+0.0100%	4h	0.02863	−0.244%	$888K	$352K	20x	as long as short
Gate SQD_USDTshort	+0.0100%	4h	0.02867	−0.105%	$604K	$29K	20x
MEXC SQD_USDT	+0.0100%	4h	0.02876	+0.209%	$5.8M	$181K	50x	as long as short
KuCoin SQDUSDTM	+0.0100%	4h	0.02864	−0.209%	$399K	$1.3M	50x	as long as short
Bitget SQDUSDT	+0.0100%	4h	0.02871	+0.035%	$736K	$55K	25x	as long as short
BingX SQD-USDTlong	+0.0100%	4h	0.02870	long leg	—	$2.3M	—
Variational Omni SQD	+0.0100%	4h	0.02871	+0.019%	$7K	$35K	—	as long as short
BloFin SQD-USDT	+0.0115%	4h	0.02871	+0.035%	$79K	$41K	50x	as long as short