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: Gate against Bybit+0.069%7-day average +0.025% · you sell dearer than you buy

Net, funding: paid 7d − costs−$552as in the Funding arb table

Net, price: spread back to 7d avg − costs−$547as in the Price arb table

costs, in and out, $10k−$5525.517% of the position

Long on Bybit 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)−0.188%−$19 · spread now +0.069%, 7d avg +0.025%

Together, before fees−0.188%−$19 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 0.044% dearer against Bybit than usual: you sell high and buy low, +$4 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	Bybit SQDUSDT	0.02890	0.0100	pay 0.0050% / 4h	59m 07s	$901K	$511K	20x
Short	Gate SQD_USDT	0.02892	0.0100	get 0.0050% / 4h	59m 07s	$609K	$45K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Bybit. 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 BybitbpFee GatebpOrdersPrice spread, now +0.069%Rate

Funding earned: $0
Price spread: +0.069% → +0.025%: $4.39
Slippage, 4 orders: −$525.74
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$547.35
Costs to cover: 5.517%
Break-even: never at this rate

Slippage from Bybit: live order book, 16 min ago; Gate: live order book, 17 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 Bybit live order book, 16 min ago	7.03 bp	51.6 bp −$52	533.7 bp −$5,337	doesn't fit	doesn't fit
Sell Gate live order book, 17 min ago	10.53 bp	180.8 bp −$181	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
BloFin SQD-USDT	+0.0064%	4h	0.02898	+0.277%	$80K	$43K	50x	as long as short
Aster SQDUSDT	+0.0100%	4h	0.02895	+0.160%	$15K	$1K	5x	as long as short
Binance SQDUSDT	+0.0100%	4h	0.02900	+0.346%	$1.2M	$1.3M	50x	as long as short
Bybit SQDUSDTlong	+0.0100%	4h	0.02890	long leg	$901K	$511K	20x
Gate SQD_USDTshort	+0.0100%	4h	0.02892	+0.069%	$609K	$45K	20x
MEXC SQD_USDT	+0.0100%	4h	0.02896	+0.208%	$5.9M	$170K	50x	as long as short
KuCoin SQDUSDTM	+0.0100%	4h	0.02893	+0.104%	$407K	$1.3M	50x	as long as short
Bitget SQDUSDT	+0.0100%	4h	0.02894	+0.138%	$741K	$82K	25x	as long as short
BingX SQD-USDT	+0.0100%	4h	0.02894	+0.138%	—	$2.3M	—	as long as short
Variational Omni SQD	+0.0100%	4h	0.02881	−0.325%	$11K	$52K	—	as long as short