Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0212%/8h= +23.2% APRpaid last 24h +0.032%

Price spread now: Coinbase International against Binance+0.007%7-day average — · you sell dearer than you buy

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

Long on Binance Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$6 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance WUSDT	0.01193	0.0100	pay 0.0050% / 4h	1h 17m	$3.0M	$6.6M	50x
Short	Coinbase International W-PERP-INTX	0.01193	0.0312	get 0.0039% / 1h	17m 23s	$14K	$16K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Binance. 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 BinancebpFee Coinbase InternationalbpOrdersPrice spread, now +0.007%Rate

Funding earned: $44.52
Price spread: +0.007% → 0.000%: $0.67
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $25.19
Costs to cover: 0.200%
Break-even: 3.0 days

Slippage unknown: Binance: live order book, 6 min ago; Coinbase International: 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 Binance live order book, 6 min ago	3.78 bp	20.8 bp −$21	112.6 bp −$1,126	doesn't fit	doesn't fit
Sell Coinbase International no order-book sample	—	—	—	—	—

Coinbase International: 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.

W on 17 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
Deribit W_USDC-PERPETUAL	−0.0086%	1h	0.01191	−0.127%	$16K	$2K	10x	as long as short
Injective W/USDC PERP	+0.0033%	1h	0.01209	+1.348%	$1K	$1K	12x	as long as short
Hyperliquid W	+0.0100%	1h	0.01192	−0.077%	$2.0M	$383K	5x	as long as short
Binance WUSDTlong	+0.0100%	4h	0.01193	long leg	$3.0M	$6.6M	50x
Bybit WUSDT	+0.0100%	4h	0.01191	−0.144%	$4.2M	$1.9M	50x	as long as short
OKX W-USDT-SWAP	+0.0100%	4h	0.01192	−0.102%	$1.3M	$1.9M	20x	as long as short
Gate W_USDT	+0.0100%	4h	0.01190	−0.245%	$451K	$253K	75x	as long as short
MEXC W_USDT	+0.0100%	4h	0.01193	+0.032%	$12.9M	$1.4M	50x	as long as short
KuCoin WUSDTM	+0.0100%	4h	0.01192	−0.077%	$385K	$214K	50x	as long as short
Bitget WUSDT	+0.0100%	4h	0.01193	+0.007%	$1.3M	$570K	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX W-USDT	+0.0100%	4h	0.01193	−0.010%	—	$6.8M	—	as long as short
Variational Omni W	+0.0100%	4h	0.01191	−0.188%	$72K	$41K	—	as long as short
GRVT W_USDT_Perp	+0.0100%	4h	0.01192	−0.082%	$127K	$413K	10x	as long as short
Extended W-USD	+0.0104%	1h	0.01193	−0.029%	$61K	$237K	5x	as long as short
Coinbase International W-PERP-INTXshort	+0.0312%	1h	0.01193	+0.007%	$14K	$16K	50x
Backpack W_USDC_PERP	+0.0647%	1h	0.01194	+0.107%	$44K	$45K	15x	as long as short
Kraken Futures PF_WUSD	+0.1701%	1h	0.01195	+0.147%	$148K	$184K	20x	as long as short