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 +0.063%

Price spread now: Gate against Bybit−0.085%7-day average −0.119% · you buy dearer than you sell

Net, funding: paid 7d − costs−$180as in the Funding arb table

Net, price: spread back to 7d avg − costs−$203as in the Price arb table

costs, in and out, $10k−$2072.068% of the position

Long on Bybit Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.264%+$26 on $10k

Price spread, last 4 days (all we have)−0.052%−$5 · spread now −0.085%, 7d avg −0.119%

Together, before fees+0.213%+$21 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: Gate is 0.034% dearer against Bybit than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.119%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit WALUSDT	0.03530	0.0100	pay 0.0050% / 4h	1h 20m	$1.3M	$1.7M	25x
Short	Gate WAL_USDT	0.03527	0.0100	get 0.0050% / 4h	1h 20m	$296K	$513K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Bybit. 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 BybitbpFee GatebpOrdersPrice spread, now −0.085%Rate

Funding earned: $0
Price spread: −0.085% → −0.119%: $3.41
Slippage, 4 orders: −$180.78
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$203.38
Costs to cover: 2.068%
Break-even: never at this rate

Slippage from Bybit: live order book, 1 min ago; Gate: live order book, 41 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 Bybit live order book, 1 min ago	2.83 bp	43.0 bp −$43	266.2 bp −$2,662	doesn't fit	doesn't fit
Sell Gate live order book, 41 min ago	5.80 bp	57.4 bp −$57	doesn't fit	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	0.03525	−0.148%	$2.4M	$6.7M	75x	as long as short
Bybit WALUSDTlong	+0.0100%	4h	0.03530	long leg	$1.3M	$1.7M	25x
OKX WAL-USDT-SWAP	+0.0100%	4h	0.03526	−0.113%	$218K	$1.0M	10x	as long as short
Gate WAL_USDTshort	+0.0100%	4h	0.03527	−0.085%	$296K	$513K	50x
MEXC WAL_USDT	+0.0100%	4h	0.03528	−0.057%	$599K	$289K	20x	as long as short
KuCoin WALUSDTM	+0.0100%	4h	0.03528	−0.057%	$347K	$66K	30x	as long as short
Bitget WALUSDT	+0.0100%	4h	0.03527	−0.085%	$612K	$916K	20x	as long as short
BingX WAL-USDT	+0.0100%	4h	0.03526	−0.113%	—	$6.6M	—	as long as short
Variational Omni WAL	+0.0100%	4h	0.03529	−0.033%	$23K	$9K	—	as long as short
Bluefin WAL-PERP	+0.0100%	1h	0.03492	−1.076%	$32K	$794K	20x	as long as short