Funding arb · Price arb /

IWM

RWAall IWM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0046%/8h= +5.0% APRpaid last 24h +0.009%

Price spread now: Markets by Kinetiq against Bitget−0.185%7-day average −0.074% · you buy dearer than you sell

Net, funding: paid 7d − costs−$33as in the Funding arb table

Net, price: spread back to 7d avg − costs−$61as in the Price arb table

costs, in and out, $10k−$500.496% of the position

Long on Bitget Short on Markets by Kinetiq

What this pair did over the last

the charts below follow

Funding, last 7 days+0.166%+$17 on $10k

Price spread, last 4 days (all we have)+0.170%+$17 · spread now −0.185%, 7d avg −0.074%

Together, before fees+0.337%+$34 on $10k · with fees, hour by hour

Funding pays, the price is against you. Markets by Kinetiq is 0.111% cheaper against Bitget than usual: you would sell low and buy high (spread −0.185% now, against its 7-day average of −0.074%). If the spread goes back, that is −$11 on $10k: about 8.1 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget IWMUSDT	285.90	0	get 0.0000% / 8h	2h 25m	$443K	$14K	20x
Short	Markets by Kinetiq mkts:SMALL2000	285.37	0.0046	get 0.0006% / 1h	25m 29s	$566K	$371K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Markets by Kinetiq against Bitget. 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 BitgetbpFee Markets by KinetiqbpOrdersPrice spread, now −0.185%Rate

Funding earned: $9.59
Price spread: −0.185% → −0.074%: −$11.09
Slippage, 4 orders: −$36.02
Fee Bitget: 6 bp × 2 orders: −$12
Fee Markets by Kinetiq: 0.81 bp × 2 orders: −$1.62
Net: −$51.14
Costs to cover: 0.496%
Break-even: 44.3 days

Slippage from Bitget: live order book, 15 min ago; Markets by Kinetiq: live order book, 51 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 Bitget live order book, 15 min ago	2.97 bp	10.0 bp −$10	36.6 bp −$366	doesn't fit	doesn't fit
Sell Markets by Kinetiq live order book, 51 min ago	2.80 bp	4.1 bp −$4	64.3 bp −$643	doesn't fit	doesn't fit

IWM on 17 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 IWMUSDT	0.0000%	8h	285.64	−0.092%	$2K	$221	20x	as long as short
Bybit IWMUSDT	0.0000%	8h	285.50	−0.140%	$555K	$62K	25x	as long as short
OKX IWM-USDT-SWAP	0.0000%	8h	285.59	−0.108%	$400K	$120K	20x	as long as short
Gate IWM_USDT	0.0000%	8h	285.92	+0.007%	$609K	$161K	20x	as long as short
Bitget IWMUSDTlong	0.0000%	8h	285.90	long leg	$443K	$14K	20x
Variational Omni IWM	0.0000%	8h	285.86	−0.015%	$160K	$207K	—	as long as short
SunX IWM-USDT	0.0000%	8h	285.92	+0.007%	$1K	$466K	10x	as long as short
HTX IWM-USDT	0.0000%	8h	286.20	+0.105%	$698	$37K	20x	as long as short
Phemex IWMUSDT	0.0000%	8h	285.87	−0.010%	$765K	$80K	10x	as long as short
BloFin IWM-USDT	+0.0025%	8h	285.82	−0.028%	$65K	$33K	20x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter IWM	+0.0032%	1h	285.75	−0.052%	$75K	$19K	10x	as long as short
MEXC IWM_USDT	+0.0040%	8h	285.76	−0.049%	$886K	$83K	50x	as long as short
Binance IWMUSDT	+0.0042%	8h	285.92	+0.006%	$1.1M	$1.2M	20x	as long as short
Markets by Kinetiq mkts:SMALL2000short	+0.0046%	1h	285.37	−0.185%	$566K	$371K	20x
Vest IWM-USD-PERP	+0.0046%	1h	285.40	−0.175%	—	—	25x	as long as short
KuCoin IWMUSDTM	+0.0100%	8h	285.92	+0.007%	$138K	$851K	20x	as long as short
GRVT IWM_USDT_Perp	+0.0672%	8h	285.93	+0.011%	$289	$107K	10x	as long as short