Funding arb · Price arb /

W

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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: Gate against Binance−0.195%7-day average −0.088% · you buy dearer than you sell

Net, funding: paid 7d − costs−$445as in the Funding arb table

Net, price: spread back to 7d avg − costs−$457as in the Price arb table

costs, in and out, $10k−$4464.459% of the position

Long on Binance Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.014%+$1 on $10k

Price spread, last 4 days (all we have)+0.002%$0 · spread now −0.195%, 7d avg −0.088%

Together, before fees+0.016%+$2 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 0.108% cheaper against Binance than usual: you would sell low and buy high, −$11 on $10k if it goes back to its 7-day average of −0.088%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance WUSDT	0.01179	0.0100	pay 0.0050% / 4h	1h 15m	$3.0M	$6.9M	50x
Short	Gate W_USDT	0.01176	0.0100	get 0.0050% / 4h	1h 15m	$443K	$293K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.195%Rate

Funding earned: $0
Price spread: −0.195% → −0.088%: −$10.76
Slippage, 4 orders: −$420.91
Fee Binance: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$456.68
Costs to cover: 4.459%
Break-even: never at this rate

Slippage from Binance: live order book, 9 min ago; Gate: 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 Binance live order book, 9 min ago	1.70 bp	26.2 bp −$26	116.4 bp −$1,164	doesn't fit	doesn't fit
Sell Gate live order book, just now	8.07 bp	208.9 bp −$209	doesn't fit	doesn't fit	doesn't fit

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	−0.0683%	1h	0.01178	−0.025%	$17K	$1K	10x	as long as short
OKX W-USDT-SWAP	−0.0095%	4h	0.01178	−0.042%	$1.3M	$2.0M	20x	as long as short
Injective W/USDC PERP	+0.0033%	1h	0.01209	+2.588%	$1K	$1K	12x	as long as short
Hyperliquid W	+0.0100%	1h	0.01179	+0.042%	$2.0M	$427K	5x	as long as short
Binance WUSDTlong	+0.0100%	4h	0.01179	long leg	$3.0M	$6.9M	50x
Bybit WUSDT	+0.0100%	4h	0.01178	−0.051%	$4.1M	$1.9M	50x	as long as short
Gate W_USDTshort	+0.0100%	4h	0.01176	−0.195%	$443K	$293K	75x
MEXC W_USDT	+0.0100%	4h	0.01178	−0.034%	$12.8M	$1.4M	50x	as long as short
KuCoin WUSDTM	+0.0100%	4h	0.01179	+0.042%	$465K	$251K	50x	as long as short
Bitget WUSDT	+0.0100%	4h	0.01178	−0.042%	$1.3M	$578K	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	0.01178	−0.085%	—	$6.9M	—	as long as short
Variational Omni W	+0.0100%	4h	0.01175	−0.276%	$71K	$42K	—	as long as short
GRVT W_USDT_Perp	+0.0100%	4h	0.01177	−0.136%	$129K	$385K	10x	as long as short
Extended W-USD	+0.0104%	1h	0.01178	−0.066%	$59K	$276K	5x	as long as short
Coinbase International W-PERP-INTX	+0.0240%	1h	0.01179	+0.042%	$14K	$17K	50x	as long as short
Backpack W_USDC_PERP	+0.0359%	1h	0.01180	+0.119%	$44K	$47K	15x	as long as short
Kraken Futures PF_WUSD	+0.0396%	1h	0.01181	+0.237%	$146K	$182K	20x	as long as short