Funding arb · Price arb /

GBP

RWAall GBP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0312%/8h= −34.2% APRpaid last 24h −0.055%

Price spread now: Gate against Hibachi+0.070%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Hibachi Short on Gate

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHibachi: Active · farm boardneeds both histories

The price spread pays, funding is against you. Gate is 0.070% dearer against Hibachi than usual: you sell high and buy low (spread +0.070% now, against zero (this spread has no 7-day history yet)): +$7 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 18 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hibachi GBP/USDT-P	1.3377	0.0312	pay 0.0039% / 1h	28m 29s	$19K	$34K	20x
Short	Gate GBPUSD_USDT	1.3386	0	get 0.0000% / 8h	5h 28m	$222K	$9K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Hibachi. 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 HibachibpFee GatebpOrdersPrice spread, now +0.070%Rate

Funding earned: −$65.52
Price spread: +0.070% → 0.000%: $7.02
Slippage, 4 orders: no order book: not counted
Fee Hibachi: 4.5 bp × 2 orders: −$9
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$82.5
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: Hibachi: no order-book sample; Gate: live order book, 28 min ago. Net counts fees only.

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 Hibachi no order-book sample	—	—	—	—	—
Sell Gate live order book, 28 min ago	2.99 bp	14.7 bp −$15	201.7 bp −$2,017	doesn't fit	doesn't fit

Hibachi: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

GBP on 13 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
MEXC GBP_USDT	−0.0076%	4h	1.3373	−0.027%	$26.0M	$213K	100x	as long as short
Nado GBPUSD-PERP	−0.0056%	1h	1.3376	−0.004%	$16K	$7K	40x	as long as short
tradeXYZ xyz:GBP	0.0000%	1h	1.3373	−0.027%	$233K	$344K	50x	as long as short
Lighter GBPUSD	0.0000%	1h	1.3371	−0.043%	$181K	$999K	50x	as long as short
Bybit GBPUSDUSDT	0.0000%	8h	1.3375	−0.014%	$245K	$69K	100x	as long as short
Gate GBPUSD_USDTshort	0.0000%	8h	1.3386	+0.070%	$222K	$9K	100x
Bitget GBPUSDUSDT	0.0000%	8h	1.3375	−0.012%	$12K	$13K	100x	as long as short
SunX GBPUSD-USDT	0.0000%	1h	1.3374	−0.019%	—	$2.4M	10x	as long as short
Kraken Futures PF_GBPUSD	0.0000%	1h	1.3372	−0.032%	$991	—	20x	as long as short
HTX GBPUSD-USDT	0.0000%	1h	1.3393	+0.123%	$5K	$333K	20x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest GBP-USD-PERP	+0.0038%	1h	1.3364	−0.091%	—	$38K	100x	as long as short
Injective GBPUSD/USDC PERP	+0.0220%	1h	1.3509	+0.987%	$11K	$73K	101x	as long as short
Hibachi GBP/USDT-Plong	+0.0312%	1h	1.3377	long leg	$19K	$34K	20x