Funding arb · Price arb /

UMA

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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−0.246%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

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 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Gate is 0.246% cheaper against Bybit than usual: you would sell low and buy high, −$25 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit UMAUSDT	0.4058	0.0100	pay 0.0050% / 4h	1h 18m	$673K	$157K	25x
Short	Gate UMA_USDT	0.4048	0.0100	get 0.0050% / 4h	1h 18m	$78K	$45K	25x

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 −0.246%Rate

Funding earned: $0
Price spread: −0.246% → 0.000%: −$24.64
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$50.64
Costs to cover: 0.260%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 37 min ago; Gate: no order-book sample. Net counts fees only.

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, 37 min ago	6.20 bp	55.8 bp −$56	3980.0 bp −$39.8K	doesn't fit	doesn't fit
Sell Gate no order-book sample	—	—	—	—	—

Gate: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

UMA on 13 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
Hyperliquid UMA	+0.0100%	1h	0.4055	−0.074%	$215K	$67K	3x	as long as short
Aster UMAUSDT	+0.0100%	4h	0.4055	−0.071%	$25K	$2K	5x	as long as short
Binance UMAUSDT	+0.0100%	4h	0.4052	−0.136%	$1.5M	$1.2M	50x	as long as short
Bybit UMAUSDTlong	+0.0100%	4h	0.4058	long leg	$673K	$157K	25x
OKX UMA-USDT-SWAP	+0.0100%	4h	0.4054	−0.099%	$316K	$236K	10x	as long as short
Gate UMA_USDTshort	+0.0100%	4h	0.4048	−0.246%	$78K	$45K	25x
MEXC UMA_USDT	+0.0100%	4h	0.4052	−0.148%	$225K	$163K	50x	as long as short
KuCoin UMAUSDTM	+0.0100%	4h	0.4054	−0.099%	$157K	$63K	30x	as long as short
Bitget UMAUSDT	+0.0100%	4h	0.4057	−0.025%	$977K	$67K	50x	as long as short
BingX UMA-USDT	+0.0100%	4h	0.4054	−0.099%	—	$2.3M	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni UMA	+0.0100%	4h	0.4060	+0.055%	$5K	$7	—	as long as short
BloFin UMA-USDT	+0.0116%	4h	0.4054	−0.099%	$75K	$8K	50x	as long as short
Kraken Futures PF_UMAUSD	+0.2642%	1h	0.4067	+0.210%	$14K	$6K	10x	as long as short