Funding arb · Price arb /

W

all W markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0180%/8h= −19.7% APRpaid last 24h −0.029%

Price spread now: Bitget against Coinbase International+0.118%7-day average — · you sell dearer than you buy

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

Long on Coinbase International Short on Bitget

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 pays, funding is against you. Bitget is 0.118% dearer against Coinbase International than usual: you sell high and buy low (spread +0.118% now, against zero (this spread has no 7-day history yet)): +$12 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 2.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International W-PERP-INTX	0.01188	0.0280	pay 0.0035% / 1h	44m 43s	$14K	$16K	50x
Short	Bitget WUSDT	0.01189	0.0100	get 0.0050% / 4h	3h 44m	$1.3M	$576K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Coinbase International. 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 Coinbase InternationalbpFee BitgetbpOrdersPrice spread, now +0.118%Rate

Funding earned: −$37.8
Price spread: +0.118% → 0.000%: $11.79
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$48.01
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Coinbase International: no order-book sample; Bitget: live order book, 2 min ago. 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 Coinbase International no order-book sample	—	—	—	—	—
Sell Bitget live order book, 2 min ago	4.21 bp	28.8 bp −$29	78.4 bp −$784	doesn't fit	doesn't fit

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	−0.0255%	1h	0.01188	+0.059%	$16K	$2K	10x	as long as short
Injective W/USDC PERP	+0.0033%	1h	0.01209	+1.802%	$1K	$1K	12x	as long as short
OKX W-USDT-SWAP	+0.0080%	4h	0.01188	+0.051%	$1.3M	$2.0M	20x	as long as short
Hyperliquid W	+0.0100%	1h	0.01189	+0.118%	$2.0M	$417K	5x	as long as short
Binance WUSDT	+0.0100%	4h	0.01189	+0.146%	$3.0M	$6.8M	50x	as long as short
Bybit WUSDT	+0.0100%	4h	0.01188	+0.008%	$4.2M	$1.9M	50x	as long as short
Gate W_USDT	+0.0100%	4h	0.01186	−0.126%	$448K	$284K	75x	as long as short
MEXC W_USDT	+0.0100%	4h	0.01189	+0.143%	$12.9M	$1.4M	50x	as long as short
KuCoin WUSDTM	+0.0100%	4h	0.01189	+0.118%	$459K	$219K	50x	as long as short
Bitget WUSDTshort	+0.0100%	4h	0.01189	+0.118%	$1.3M	$576K	50x

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX W-USDT	+0.0100%	4h	0.01188	+0.059%	—	$6.9M	—	as long as short
Variational Omni W	+0.0100%	4h	0.01185	−0.197%	$71K	$42K	—	as long as short
GRVT W_USDT_Perp	+0.0100%	4h	0.01187	−0.059%	$127K	$377K	10x	as long as short
Extended W-USD	+0.0104%	1h	0.01189	+0.120%	$64K	$290K	5x	as long as short
Coinbase International W-PERP-INTXlong	+0.0280%	1h	0.01188	long leg	$14K	$16K	50x
Backpack W_USDC_PERP	+0.1291%	1h	0.01191	+0.253%	$44K	$44K	15x	as long as short
Kraken Futures PF_WUSD	+0.1320%	1h	0.01191	+0.298%	$148K	$181K	20x	as long as short