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% APRpaid last 24h −0.039%

Price spread now: Bitget against Bluefin−0.085%7-day average −0.110% · you buy dearer than you sell

Net, funding: paid 7d − costs−$240as in the Funding arb table

Net, price: spread back to 7d avg − costs−$368as in the Price arb table

costs, in and out, $10k−$3713.708% of the position

Long on Bluefin Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+1.312%+$131 on $10k

Price spread, last 4 days (all we have)−0.650%−$65 · spread now −0.085%, 7d avg −0.110%

Together, before fees+0.662%+$66 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 0.025% dearer against Bluefin than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.110%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bluefin WAL-PERP	0.03537	0.0100	pay 0.0013% / 1h	30m 25s	$32K	$664K	20x
Short	Bitget WALUSDT	0.03534	0.0100	get 0.0050% / 4h	30m 25s	$609K	$935K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Bluefin. 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 BluefinbpFee BitgetbpOrdersPrice spread, now −0.085%Rate

Funding earned: $0
Price spread: −0.085% → −0.110%: $2.5
Slippage, 4 orders: −$351.81
Fee Bluefin: 3.5 bp × 2 orders: −$7
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$368.31
Costs to cover: 3.708%
Break-even: never at this rate

Slippage from Bluefin: live order book, 29 min ago; Bitget: live order book, 25 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 Bluefin live order book, 29 min ago	2.85 bp	164.5 bp −$164	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 25 min ago	4.27 bp	34.4 bp −$34	178.7 bp −$1,787	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 WALUSDT	+0.0100%	4h	0.03531	−0.170%	$2.4M	$6.9M	75x	as long as short
Bybit WALUSDT	+0.0100%	4h	0.03534	−0.085%	$1.4M	$1.8M	25x	as long as short
OKX WAL-USDT-SWAP	+0.0100%	4h	0.03530	−0.198%	$218K	$1.1M	10x	as long as short
Gate WAL_USDT	+0.0100%	4h	0.03538	+0.028%	$297K	$551K	50x	as long as short
MEXC WAL_USDT	+0.0100%	4h	0.03532	−0.141%	$625K	$294K	20x	as long as short
KuCoin WALUSDTM	+0.0100%	4h	0.03539	+0.057%	$348K	$66K	30x	as long as short
Bitget WALUSDTshort	+0.0100%	4h	0.03534	−0.085%	$609K	$935K	20x
BingX WAL-USDT	+0.0100%	4h	0.03533	−0.113%	—	$6.6M	—	as long as short
Variational Omni WAL	+0.0100%	4h	0.03528	−0.258%	$23K	$9K	—	as long as short
Bluefin WAL-PERPlong	+0.0100%	1h	0.03537	long leg	$32K	$664K	20x