Funding arb · Price arb /

W

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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: Bitget against Gate−0.084%7-day average +0.078% · you buy dearer than you sell

Net, funding: paid 7d − costs−$643as in the Funding arb table

Net, price: spread back to 7d avg − costs−$665as in the Price arb table

costs, in and out, $10k−$6496.491% of the position

Long on Gate Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.057%+$6 on $10k

Price spread, last 4 days (all we have)−0.003%$0 · spread now −0.084%, 7d avg +0.078%

Together, before fees+0.054%+$5 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: Bitget is 0.162% cheaper against Gate than usual: you would sell low and buy high, −$16 on $10k if it goes back to its 7-day average of +0.078%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate W_USDT	0.01190	0.0100	pay 0.0050% / 4h	5m 16s	$450K	$231K	75x
Short	Bitget WUSDT	0.01189	0.0100	get 0.0050% / 4h	5m 16s	$1.3M	$571K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Gate. 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 GatebpFee BitgetbpOrdersPrice spread, now −0.084%Rate

Funding earned: $0
Price spread: −0.084% → +0.078%: −$16.19
Slippage, 4 orders: −$622.09
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$665.28
Costs to cover: 6.491%
Break-even: never at this rate

Slippage from Gate: live order book, 50 min ago; Bitget: live order book, 1 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 Gate live order book, 50 min ago	9.72 bp	417.3 bp −$417	25593.7 bp −$255.9K	doesn't fit	doesn't fit
Sell Bitget live order book, 1 min ago	8.42 bp	26.3 bp −$26	130.5 bp −$1,305	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	−0.0255%	1h	0.01187	−0.244%	$15K	$3K	10x	as long as short
Injective W/USDC PERP	+0.0033%	1h	0.01209	+1.597%	$1K	$1K	12x	as long as short
Hyperliquid W	+0.0100%	1h	0.01187	−0.252%	$2.0M	$331K	5x	as long as short
Binance WUSDT	+0.0100%	4h	0.01187	−0.252%	$3.0M	$6.4M	50x	as long as short
Bybit WUSDT	+0.0100%	4h	0.01185	−0.387%	$4.2M	$1.8M	50x	as long as short
OKX W-USDT-SWAP	+0.0100%	4h	0.01186	−0.311%	$1.3M	$1.8M	20x	as long as short
Gate W_USDTlong	+0.0100%	4h	0.01190	long leg	$450K	$231K	75x
MEXC W_USDT	+0.0100%	4h	0.01187	−0.261%	$12.8M	$1.4M	50x	as long as short
KuCoin WUSDTM	+0.0100%	4h	0.01186	−0.336%	$379K	$209K	50x	as long as short
Bitget WUSDTshort	+0.0100%	4h	0.01189	−0.084%	$1.3M	$571K	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	0.01187	−0.218%	—	$6.8M	—	as long as short
Variational Omni W	+0.0100%	4h	0.01186	−0.349%	$71K	$41K	—	as long as short
GRVT W_USDT_Perp	+0.0100%	4h	0.01189	−0.084%	$128K	$414K	10x	as long as short
Extended W-USD	+0.0104%	1h	0.01187	−0.281%	$62K	$233K	5x	as long as short
Coinbase International W-PERP-INTX	+0.0360%	1h	0.01195	+0.454%	$14K	$15K	50x	as long as short
Backpack W_USDC_PERP	+0.1122%	1h	0.01189	−0.101%	$44K	$43K	15x	as long as short
Kraken Futures PF_WUSD	+0.1678%	1h	0.01191	+0.085%	$148K	$184K	20x	as long as short