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: Bybit against Gate+0.034%7-day average −0.006% · you sell dearer than you buy

Net, funding: paid 7d − costs−$738as in the Funding arb table

Net, price: spread back to 7d avg − costs−$732as in the Price arb table

costs, in and out, $10k−$7367.360% of the position

Long on Gate Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.020%−$2 on $10k

Price spread, last 4 days (all we have)+0.053%+$5 · spread now +0.034%, 7d avg −0.006%

Together, before fees+0.033%+$3 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: Bybit is 0.040% dearer against Gate than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate W_USDT	0.01170	0.0100	pay 0.0050% / 4h	1h 57m	$444K	$291K	75x
Short	Bybit WUSDT	0.01170	0.0100	get 0.0050% / 4h	1h 57m	$4.1M	$2.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.034%Rate

Funding earned: $0
Price spread: +0.034% → −0.006%: $3.99
Slippage, 4 orders: −$709.97
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$731.99
Costs to cover: 7.360%
Break-even: never at this rate

Slippage from Gate: live order book, 23 min ago; Bybit: 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 Gate live order book, 23 min ago	8.94 bp	275.2 bp −$275	29633.8 bp −$296.3K	doesn't fit	doesn't fit
Sell Bybit live order book, just now	3.42 bp	30.2 bp −$30	131.9 bp −$1,319	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	−0.0857%	1h	0.01173	+0.222%	$17K	$1K	10x	as long as short
OKX W-USDT-SWAP	−0.0060%	4h	0.01171	+0.111%	$1.3M	$2.1M	20x	as long as short
Injective W/USDC PERP	+0.0033%	1h	0.01209	+3.333%	$1K	$1K	12x	as long as short
Hyperliquid W	+0.0100%	1h	0.01171	+0.085%	$2.0M	$450K	5x	as long as short
Binance WUSDT	+0.0100%	4h	0.01172	+0.171%	$2.9M	$7.1M	50x	as long as short
Bybit WUSDTshort	+0.0100%	4h	0.01170	+0.034%	$4.1M	$2.0M	50x
Gate W_USDTlong	+0.0100%	4h	0.01170	long leg	$444K	$291K	75x
MEXC W_USDT	+0.0100%	4h	0.01170	−0.017%	$12.7M	$1.4M	50x	as long as short
KuCoin WUSDTM	+0.0100%	4h	0.01169	−0.085%	$415K	$217K	50x	as long as short
Bitget WUSDT	+0.0100%	4h	0.01172	+0.171%	$1.3M	$582K	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	0.01171	+0.060%	—	$6.9M	—	as long as short
Backpack W_USDC_PERP	+0.0100%	1h	0.01172	+0.154%	$44K	$47K	15x	as long as short
Variational Omni W	+0.0100%	4h	0.01167	−0.247%	$70K	$42K	—	as long as short
GRVT W_USDT_Perp	+0.0100%	4h	0.01171	+0.071%	$122K	$409K	10x	as long as short
Extended W-USD	+0.0104%	1h	0.01172	+0.155%	$59K	$276K	5x	as long as short
Coinbase International W-PERP-INTX	+0.0240%	1h	0.01178	+0.684%	$14K	$18K	50x	as long as short
Kraken Futures PF_WUSD	+0.0399%	1h	0.01174	+0.368%	$145K	$185K	20x	as long as short