Funding arb · Price arb /

SQD

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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 0.000%

Price spread now: Bybit against Gate0.000%7-day average −0.027% · you sell dearer than you buy

Net, funding: paid 7d − costs−$460as in the Funding arb table

Net, price: spread back to 7d avg − costs−$458as in the Price arb table

costs, in and out, $10k−$4604.603% of the position

Long on Gate Short on Bybit

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)+0.107%+$11 · spread now 0.000%, 7d avg −0.027%

Together, before fees+0.107%+$11 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: Bybit is 0.027% dearer against Gate than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.027%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate SQD_USDT	0.02903	0.0100	pay 0.0050% / 4h	54m 51s	$612K	$29K	20x
Short	Bybit SQDUSDT	0.02903	0.0100	get 0.0050% / 4h	54m 51s	$894K	$379K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → −0.027%: $2.7
Slippage, 4 orders: −$434.25
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$457.55
Costs to cover: 4.603%
Break-even: never at this rate

Slippage from Gate: live order book, 1 min ago; Bybit: live order book, just now.

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, 1 min ago	13.77 bp	176.9 bp −$177	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, just now	6.90 bp	55.7 bp −$56	300.7 bp −$3,007	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	+0.0093%	4h	0.02904	+0.034%	$82K	$41K	50x	as long as short
Aster SQDUSDT	+0.0100%	4h	0.02907	+0.132%	$15K	$1K	5x	as long as short
Binance SQDUSDT	+0.0100%	4h	0.02911	+0.276%	$1.2M	$1.3M	50x	as long as short
Bybit SQDUSDTshort	+0.0100%	4h	0.02903	0.000%	$894K	$379K	20x
Gate SQD_USDTlong	+0.0100%	4h	0.02903	long leg	$612K	$29K	20x
MEXC SQD_USDT	+0.0100%	4h	0.02911	+0.276%	$5.9M	$179K	50x	as long as short
KuCoin SQDUSDTM	+0.0100%	4h	0.02903	0.000%	$405K	$1.3M	50x	as long as short
Bitget SQDUSDT	+0.0100%	4h	0.02906	+0.103%	$743K	$57K	25x	as long as short
BingX SQD-USDT	+0.0100%	4h	0.02907	+0.138%	—	$2.3M	—	as long as short
Variational Omni SQD	+0.0100%	4h	0.02902	−0.051%	$7K	$56K	—	as long as short