Funding arb · Price arb /

COST

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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−0.007%7-day average −0.027% · you buy dearer than you sell

Net, funding: paid 7d − costs−$221as in the Funding arb table

Net, price: spread back to 7d avg − costs−$219as in the Price arb table

costs, in and out, $10k−$2212.208% of the position

Long on Gate Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)−0.060%−$6 · spread now −0.007%, 7d avg −0.027%

Together, before fees−0.060%−$6 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 0.020% dearer against Gate than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of −0.027%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate COST_USDT	899.08	0	get 0.0000% / 8h	1h 35m	$523K	$26K	25x
Short	Bybit COSTUSDT	899.02	0	get 0.0000% / 8h	1h 35m	$470K	$193K	25x

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 −0.007%Rate

Funding earned: $0
Price spread: −0.007% → −0.027%: $2.03
Slippage, 4 orders: −$194.78
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$218.75
Costs to cover: 2.208%
Break-even: never at this rate

Slippage from Gate: live order book, 46 min ago; Bybit: live order book, 40 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, 46 min ago	20.83 bp	57.4 bp −$57	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 40 min ago	11.41 bp	23.7 bp −$24	157.7 bp −$1,577	doesn't fit	doesn't fit

COST on 15 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
Aster COSTUSDT	0.0000%	8h	898.26	−0.091%	$45K	$178	20x	as long as short
Bybit COSTUSDTshort	0.0000%	8h	899.02	−0.007%	$470K	$193K	25x
OKX COST-USDT-SWAP	0.0000%	8h	899.68	+0.067%	$432K	$137K	10x	as long as short
Gate COST_USDTlong	0.0000%	8h	899.08	long leg	$523K	$26K	25x
Bitget COSTUSDT	0.0000%	8h	898.60	−0.053%	$398K	$125K	25x	as long as short
SunX COST-USDT	0.0000%	8h	898.40	−0.076%	$979	$3.3M	10x	as long as short
HTX COST-USDT	0.0000%	8h	900.61	+0.170%	$10K	$42K	10x	as long as short
Variational Omni COST	+0.0033%	8h	898.79	−0.033%	$42K	$19K	—	as long as short
Injective COST/USDC PERP	+0.0033%	1h	891.98	−0.790%	$2K	$28K	12x	as long as short
Extended COST-USD	+0.0040%	1h	898.30	−0.086%	—	—	10x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest COST-USD-PERP	+0.0046%	1h	898.36	−0.080%	—	—	25x	as long as short
QFEX COST-USD	+0.0048%	1h	898.59	−0.055%	$1.1M	$2.9M	10x	as long as short
tradeXYZ xyz:COST	+0.0050%	1h	898.61	−0.052%	$1.8M	$536K	20x	as long as short
KuCoin COSTUSDTM	+0.0100%	8h	897.80	−0.142%	$41K	$833K	20x	as long as short
Binance COSTUSDT	+0.0194%	8h	898.73	−0.039%	$1.1M	$970K	20x	as long as short