Funding arb · Price arb /

WAL

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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 Binance+0.020%7-day average +0.069% · you sell dearer than you buy

Net, funding: paid 7d − costs−$126as in the Funding arb table

Net, price: spread back to 7d avg − costs−$117as in the Price arb table

costs, in and out, $10k−$1121.117% of the position

Long on Binance Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.148%−$15 on $10k

Price spread, last 4 days (all we have)+0.022%+$2 · spread now +0.020%, 7d avg +0.069%

Together, before fees−0.126%−$13 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 0.049% cheaper against Binance than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.069%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance WALUSDT	0.03447	0.0100	pay 0.0050% / 4h	2h 11m	$2.3M	$6.6M	75x
Short	Bitget WALUSDT	0.03448	0.0100	get 0.0050% / 4h	2h 11m	$585K	$896K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.020%Rate

Funding earned: $0
Price spread: +0.020% → +0.069%: −$4.9
Slippage, 4 orders: −$89.67
Fee Binance: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$116.57
Costs to cover: 1.117%
Break-even: never at this rate

Slippage from Binance: live order book, 12 min ago; Bitget: live order book, 54 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 Binance live order book, 12 min ago	2.89 bp	21.8 bp −$22	116.4 bp −$1,164	doesn't fit	doesn't fit
Sell Bitget live order book, 54 min ago	4.30 bp	29.2 bp −$29	162.4 bp −$1,624	doesn't fit	doesn't fit

WAL on 10 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
Binance WALUSDTlong	+0.0100%	4h	0.03447	long leg	$2.3M	$6.6M	75x
Bybit WALUSDT	+0.0100%	4h	0.03448	+0.020%	$1.3M	$1.7M	25x	as long as short
OKX WAL-USDT-SWAP	+0.0100%	4h	0.03446	−0.038%	$214K	$945K	10x	as long as short
Gate WAL_USDT	+0.0100%	4h	0.03444	−0.096%	$292K	$484K	50x	as long as short
MEXC WAL_USDT	+0.0100%	4h	0.03447	−0.009%	$585K	$289K	20x	as long as short
KuCoin WALUSDTM	+0.0100%	4h	0.03452	+0.136%	$343K	$70K	30x	as long as short
Bitget WALUSDTshort	+0.0100%	4h	0.03448	+0.020%	$585K	$896K	20x
BingX WAL-USDT	+0.0100%	4h	0.03447	−0.009%	—	$6.6M	—	as long as short
Variational Omni WAL	+0.0100%	4h	0.03448	+0.016%	$22K	$8K	—	as long as short
Bluefin WAL-PERP	+0.0214%	1h	0.03448	+0.020%	$32K	$780K	20x	as long as short