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 Gate+0.035%7-day average +0.074% · you sell dearer than you buy

Net, funding: paid 7d − costs−$487as in the Funding arb table

Net, price: spread back to 7d avg − costs−$491as in the Price arb table

costs, in and out, $10k−$4874.875% of the position

Long on Gate 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)+0.201%+$20 · spread now +0.035%, 7d avg +0.074%

Together, before fees+0.201%+$20 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 0.039% 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 +0.074%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate SQD_USDT	0.02845	0.0100	pay 0.0050% / 4h	1h 41m	$599K	$43K	20x
Short	Bitget SQDUSDT	0.02846	0.0100	get 0.0050% / 4h	1h 41m	$729K	$81K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.035%Rate

Funding earned: $0
Price spread: +0.035% → +0.074%: −$3.89
Slippage, 4 orders: −$460.49
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$491.38
Costs to cover: 4.875%
Break-even: never at this rate

Slippage from Gate: live order book, 39 min ago; Bitget: live order book, 39 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, 39 min ago	21.02 bp	213.6 bp −$214	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 39 min ago	15.79 bp	32.2 bp −$32	159.4 bp −$1,594	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	0.02848	+0.117%	$15K	$1K	5x	as long as short
Binance SQDUSDT	+0.0100%	4h	0.02853	+0.281%	$1.2M	$1.2M	50x	as long as short
Bybit SQDUSDT	+0.0100%	4h	0.02843	−0.070%	$887K	$501K	20x	as long as short
Gate SQD_USDTlong	+0.0100%	4h	0.02845	long leg	$599K	$43K	20x
MEXC SQD_USDT	+0.0100%	4h	0.02855	+0.351%	$5.8M	$171K	50x	as long as short
KuCoin SQDUSDTM	+0.0100%	4h	0.02847	+0.070%	$414K	$1.3M	50x	as long as short
Bitget SQDUSDTshort	+0.0100%	4h	0.02846	+0.035%	$729K	$81K	25x
BingX SQD-USDT	+0.0100%	4h	0.02849	+0.141%	—	$2.3M	—	as long as short
Variational Omni SQD	+0.0100%	4h	0.02828	−0.589%	$11K	$52K	—	as long as short
BloFin SQD-USDT	+0.0107%	4h	0.02848	+0.105%	$80K	$43K	50x	as long as short