Funding arb · Price arb /

TUT

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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: Gate against Bybit−0.391%7-day average −0.054% · you buy dearer than you sell

Net, funding: paid 7d − costs−$200as in the Funding arb table

Net, price: spread back to 7d avg − costs−$297as in the Price arb table

costs, in and out, $10k−$2642.635% of the position

Long on Bybit Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.639%+$64 on $10k

Price spread, last 4 days (all we have)+0.073%+$7 · spread now −0.391%, 7d avg −0.054%

Together, before fees+0.712%+$71 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 0.338% cheaper against Bybit than usual: you would sell low and buy high, −$34 on $10k if it goes back to its 7-day average of −0.054%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit TUTUSDT	0.02248	0.0100	pay 0.0050% / 4h	1h 44m	$1.5M	$1.2M	5x
Short	Gate TUT_USDT	0.02240	0.0100	get 0.0050% / 4h	1h 44m	$688K	$749K	10x

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 −0.391%Rate

Funding earned: $0
Price spread: −0.391% → −0.054%: −$33.75
Slippage, 4 orders: −$237.51
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$297.27
Costs to cover: 2.635%
Break-even: never at this rate

Slippage from Bybit: live order book, 1 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, 1 min ago	2.68 bp	90.0 bp −$90	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 17 min ago	9.51 bp	54.6 bp −$55	82.5 bp −$825	doesn't fit	doesn't fit

TUT 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 TUTUSDT	−0.0316%	4h	0.02245	−0.166%	$238K	$47K	10x	as long as short
Binance TUTUSDT	+0.0100%	4h	0.02247	−0.046%	$6.6M	$12.4M	10x	as long as short
Bybit TUTUSDTlong	+0.0100%	4h	0.02248	long leg	$1.5M	$1.2M	5x
Gate TUT_USDTshort	+0.0100%	4h	0.02240	−0.391%	$688K	$749K	10x
MEXC TUT_USDT	+0.0100%	4h	0.02247	−0.062%	$2.2M	$583K	100x	as long as short
KuCoin TUTUSDTM	+0.0100%	4h	0.02245	−0.151%	$1.8M	$572K	10x	as long as short
Bitget TUTUSDT	+0.0100%	4h	0.02250	+0.071%	$6.2M	$1.5M	10x	as long as short
BingX TUT-USDT	+0.0100%	4h	0.02249	+0.027%	—	$2.3M	—	as long as short
HTX TUT-USDT	+0.0100%	4h	0.02241	−0.329%	$39K	$215K	10x	as long as short
Extended TUT-USD	+0.0104%	1h	0.02246	−0.107%	$404	—	5x	as long as short