Funding arb · Price arb /

IWM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0046%/8h= −5.0% APRpaid last 24h −0.009%

Price spread now: Bitget against Markets by Kinetiq+0.147%7-day average +0.074% · you sell dearer than you buy

Net, funding: paid 7d − costs−$66as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$500.497% of the position

Long on Markets by Kinetiq Short on Bitget

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)−0.132%−$13 · spread now +0.147%, 7d avg +0.074%

Together, before fees−0.299%−$30 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bitget is 0.073% dearer against Markets by Kinetiq than usual: you sell high and buy low (spread +0.147% now, against its 7-day average of +0.074%): +$7 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 5.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Markets by Kinetiq mkts:SMALL2000	285.37	0.0046	pay 0.0006% / 1h	52m 36s	$566K	$363K	20x
Short	Bitget IWMUSDT	285.79	0	get 0.0000% / 8h	1h 52m	$443K	$15K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Markets by Kinetiq. 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 Markets by KinetiqbpFee BitgetbpOrdersPrice spread, now +0.147%Rate

Funding earned: −$9.59
Price spread: +0.147% → +0.074%: $7.27
Slippage, 4 orders: −$36.04
Fee Markets by Kinetiq: 0.81 bp × 2 orders: −$1.62
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$51.97
Costs to cover: 0.497%
Break-even: never at this rate

Slippage from Markets by Kinetiq: live order book, 13 min ago; Bitget: live order book, 48 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 Markets by Kinetiq live order book, 13 min ago	0.88 bp	6.0 bp −$6	42.4 bp −$424	doesn't fit	doesn't fit
Sell Bitget live order book, 48 min ago	2.97 bp	29.6 bp −$30	55.9 bp −$559	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	285.57	+0.069%	$2K	$221	20x	as long as short
Bybit IWMUSDT	0.0000%	8h	285.50	+0.046%	$556K	$62K	25x	as long as short
OKX IWM-USDT-SWAP	0.0000%	8h	285.42	+0.018%	$400K	$121K	20x	as long as short
Gate IWM_USDT	0.0000%	8h	285.71	+0.119%	$609K	$158K	20x	as long as short
Bitget IWMUSDTshort	0.0000%	8h	285.79	+0.147%	$443K	$15K	20x
SunX IWM-USDT	0.0000%	8h	285.79	+0.147%	$1K	$455K	10x	as long as short
HTX IWM-USDT	0.0000%	8h	285.70	+0.116%	$771	$37K	20x	as long as short
Phemex IWMUSDT	0.0000%	8h	285.84	+0.165%	$765K	$80K	10x	as long as short
Variational Omni IWM	+0.0015%	8h	285.77	+0.142%	$160K	$207K	—	as long as short
Lighter IWM	+0.0032%	1h	286.04	+0.235%	$75K	$19K	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Markets by Kinetiq mkts:SMALL2000long	+0.0046%	1h	285.37	long leg	$566K	$363K	20x
Vest IWM-USD-PERP	+0.0046%	1h	285.44	+0.025%	—	—	25x	as long as short
MEXC IWM_USDT	+0.0078%	8h	285.72	+0.123%	$885K	$81K	50x	as long as short
Binance IWMUSDT	+0.0079%	8h	285.82	+0.158%	$1.1M	$1.2M	20x	as long as short
BloFin IWM-USDT	+0.0090%	8h	285.83	+0.161%	$65K	$33K	20x	as long as short
KuCoin IWMUSDTM	+0.0100%	8h	285.84	+0.165%	$138K	$848K	20x	as long as short
GRVT IWM_USDT_Perp	+0.0686%	8h	285.86	+0.171%	$286	$106K	10x	as long as short