Funding arb · Price arb /

STABLE

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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: Bybit against Gate+0.121%7-day average +0.071% · you sell dearer than you buy

Net, funding: paid 7d − costs−$522as in the Funding arb table

Net, price: spread back to 7d avg − costs−$468as in the Price arb table

costs, in and out, $10k−$4734.729% of the position

Long on Gate Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.486%−$49 on $10k

Price spread, last 4 days (all we have)−0.119%−$12 · spread now +0.121%, 7d avg +0.071%

Together, before fees−0.605%−$61 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 0.050% dearer against Gate than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of +0.071%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate STABLE_USDT	0.02471	0.0100	pay 0.0050% / 4h	2h 41m	$171K	$87K	50x
Short	Bybit STABLEUSDT	0.02474	0.0100	get 0.0050% / 4h	2h 41m	$1.5M	$819K	25x

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 +0.121%Rate

Funding earned: $0
Price spread: +0.121% → +0.071%: $5
Slippage, 4 orders: −$446.89
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$467.89
Costs to cover: 4.729%
Break-even: never at this rate

Slippage from Gate: live order book, 41 min ago; Bybit: live order book, 4 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, 41 min ago	6.07 bp	153.4 bp −$153	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	6.07 bp	34.0 bp −$34	222.1 bp −$2,221	doesn't fit	doesn't fit

STABLE on 15 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 STABLEUSDT	−0.0302%	4h	0.02469	−0.065%	$19K	$7K	20x	as long as short
Lighter STABLE	+0.0096%	1h	0.02487	+0.664%	$114K	$3K	3x	as long as short
Hyperliquid STABLE	+0.0100%	1h	0.02471	−0.004%	$872K	$235K	3x	as long as short
Binance STABLEUSDT	+0.0100%	4h	0.02470	−0.040%	$2.4M	$2.7M	75x	as long as short
Bybit STABLEUSDTshort	+0.0100%	4h	0.02474	+0.121%	$1.5M	$819K	25x
OKX STABLE-USDT-SWAP	+0.0100%	4h	0.02474	+0.121%	$204K	$417K	20x	as long as short
Gate STABLE_USDTlong	+0.0100%	4h	0.02471	long leg	$171K	$87K	50x
MEXC STABLE_USDT	+0.0100%	4h	0.02470	−0.040%	$659K	$157K	20x	as long as short
KuCoin STABLEUSDTM	+0.0100%	4h	0.02477	+0.243%	$174K	$27K	30x	as long as short
Bitget STABLEUSDT	+0.0100%	4h	0.02474	+0.121%	$291K	$116K	25x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX STABLE-USDT	+0.0100%	4h	0.02473	+0.081%	—	$6.5M	—	as long as short
Variational Omni STABLE	+0.0100%	4h	0.02474	+0.122%	$145K	$51K	—	as long as short
SunX STABLE-USDT	+0.0100%	4h	0.02471	−0.012%	$1K	$644K	20x	as long as short
Extended STABLE-USD	+0.0104%	1h	0.02469	−0.073%	$12K	$175K	10x	as long as short
BloFin STABLE-USDT	+0.0127%	4h	0.02469	−0.081%	$115K	$8K	75x	as long as short