Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Gate against BingX−0.119%7-day average −0.051% · you buy dearer than you sell

Net, funding: paid 7d − costs−$490as in the Funding arb table

Net, price: spread back to 7d avg − costs−$492as in the Price arb table

costs, in and out, $10k−$4854.854% of the position

Long on BingX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.042%−$4 on $10k

Price spread, last 4 days (all we have)+0.148%+$15 · spread now −0.119%, 7d avg −0.051%

Together, before fees+0.106%+$11 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 0.068% cheaper against BingX than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of −0.051%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX W-USDT	0.01180	0.0100	pay 0.0050% / 4h	3h 23m	—	$6.6M	—
Short	Gate W_USDT	0.01178	0.0100	get 0.0050% / 4h	3h 23m	$430K	$217K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against BingX. 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 BingXbpFee GatebpOrdersPrice spread, now −0.119%Rate

Funding earned: $0
Price spread: −0.119% → −0.051%: −$6.76
Slippage, 4 orders: −$460.37
Fee BingX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$492.13
Costs to cover: 4.854%
Break-even: never at this rate

Slippage from BingX: live order book, 14 min ago; Gate: live order book, 7 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 BingX live order book, 14 min ago	3.40 bp	18.7 bp −$19	59.0 bp −$590	765.8 bp −$76.6K	1206.8 bp −$603.4K
Sell Gate live order book, 7 min ago	11.12 bp	164.3 bp −$164	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	0.0000%	1h	0.01182	+0.170%	$14K	$4K	10x	as long as short
Injective W/USDC PERP	+0.0033%	1h	0.01209	+2.492%	$1K	$1K	12x	as long as short
Hyperliquid W	+0.0100%	1h	0.01184	+0.373%	$2.0M	$267K	5x	as long as short
Binance WUSDT	+0.0100%	4h	0.01183	+0.308%	$3.0M	$5.0M	50x	as long as short
Bybit WUSDT	+0.0100%	4h	0.01182	+0.195%	$4.1M	$1.5M	50x	as long as short
OKX W-USDT-SWAP	+0.0100%	4h	0.01184	+0.356%	$1.3M	$1.4M	20x	as long as short
Gate W_USDTshort	+0.0100%	4h	0.01178	−0.119%	$430K	$217K	75x
MEXC W_USDT	+0.0100%	4h	0.01183	+0.271%	$12.4M	$1.3M	50x	as long as short
KuCoin WUSDTM	+0.0100%	4h	0.01179	−0.051%	$387K	$190K	50x	as long as short
Bitget WUSDT	+0.0100%	4h	0.01182	+0.203%	$1.3M	$541K	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-USDTlong	+0.0100%	4h	0.01180	long leg	—	$6.6M	—
Variational Omni W	+0.0100%	4h	0.01171	−0.744%	$71K	$35K	—	as long as short
GRVT W_USDT_Perp	+0.0100%	4h	0.01176	−0.314%	$126K	$374K	10x	as long as short
Extended W-USD	+0.0104%	1h	0.01183	+0.279%	$64K	$388K	5x	as long as short
Coinbase International W-PERP-INTX	+0.0384%	1h	0.01183	+0.246%	$13K	$12K	50x	as long as short
Backpack W_USDC_PERP	+0.0517%	1h	0.01182	+0.203%	$44K	$52K	15x	as long as short
Kraken Futures PF_WUSD	+0.0894%	1h	0.01183	+0.269%	$147K	$48K	20x	as long as short