Funding arb · Price arb /

WAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: BingX against Gate+0.287%7-day average +0.076% · you sell dearer than you buy

Net, funding: paid 7d − costs−$176as in the Funding arb table

Net, price: spread back to 7d avg − costs−$130as in the Price arb table

costs, in and out, $10k−$1511.515% of the position

Long on Gate Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.240%−$24 on $10k

Price spread, last 4 days (all we have)−0.151%−$15 · spread now +0.287%, 7d avg +0.076%

Together, before fees−0.391%−$39 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: BingX is 0.211% dearer against Gate than usual: you sell high and buy low, +$21 on $10k if it goes back to its 7-day average of +0.076%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate WAL_USDT	0.03483	0.0100	pay 0.0050% / 4h	3h 23m	$296K	$663K	50x
Short	BingX WAL-USDT	0.03493	0.0100	get 0.0050% / 4h	3h 23m	—	$6.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now +0.287%Rate

Funding earned: $0
Price spread: +0.287% → +0.076%: $21.14
Slippage, 4 orders: −$126.48
Fee Gate: 7.5 bp × 2 orders: −$15
Fee BingX: 5 bp × 2 orders: −$10
Net: −$130.34
Costs to cover: 1.515%
Break-even: never at this rate

Slippage from Gate: live order book, 8 min ago; BingX: live order book, 13 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, 8 min ago	2.91 bp	56.3 bp −$56	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 13 min ago	4.34 bp	22.4 bp −$22	72.0 bp −$720	537.6 bp −$53.8K	1066.9 bp −$533.4K

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
Bybit WALUSDT	−0.0035%	4h	0.03493	+0.287%	$1.4M	$1.5M	25x	as long as short
Binance WALUSDT	+0.0100%	4h	0.03492	+0.250%	$2.4M	$6.2M	75x	as long as short
OKX WAL-USDT-SWAP	+0.0100%	4h	0.03485	+0.057%	$216K	$1.1M	10x	as long as short
Gate WAL_USDTlong	+0.0100%	4h	0.03483	long leg	$296K	$663K	50x
MEXC WAL_USDT	+0.0100%	4h	0.03491	+0.230%	$582K	$261K	20x	as long as short
KuCoin WALUSDTM	+0.0100%	4h	0.03482	−0.029%	$312K	$52K	30x	as long as short
Bitget WALUSDT	+0.0100%	4h	0.03494	+0.316%	$564K	$886K	20x	as long as short
BingX WAL-USDTshort	+0.0100%	4h	0.03493	+0.287%	—	$6.6M	—
Variational Omni WAL	+0.0100%	4h	0.03448	−1.010%	$21K	$16K	—	as long as short
Bluefin WAL-PERP	+0.1121%	1h	0.03496	+0.373%	$31K	$620K	20x	as long as short