Funding arb · Price arb /

SHAZ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0439%/8h= +48.0% APRpaid last 24h −0.258%

Price spread now: tradeXYZ against Gate+0.030%7-day average −0.092% · you sell dearer than you buy

Net, funding: paid 7d − costs−$366as in the Funding arb table

Net, price: spread back to 7d avg − costs−$362as in the Price arb table

costs, in and out, $10k−$3743.745% of the position

Long on Gate Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.088%+$9 on $10k

Price spread, last 4 days (all we have)−0.254%−$25 · spread now +0.030%, 7d avg −0.092%

Together, before fees−0.166%+ Points / potential airdroptradeXYZ: Active · farm board−$17 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$13 a day on $10k at the current rate, and tradeXYZ is 0.122% dearer against Gate than usual: you sell high and buy low: +$12 more if the spread goes back to its 7-day average of −0.092%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.088% in total (about 4.6% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate SHAZ_USDT	59.380	0	get 0.0000% / 8h	5h 45m	$182K	$41K	20x
Short	tradeXYZ xyz:SHAZ	59.398	0.0439	get 0.0055% / 1h	45m 41s	$1.2M	$301K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now +0.030%Rate

Funding earned: $92.1
Price spread: +0.030% → −0.092%: $12.2
Slippage, 4 orders: −$341.45
Fee Gate: 7.5 bp × 2 orders: −$15
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$270.15
Costs to cover: 3.745%
Break-even: 27.5 days

Slippage from Gate: live order book, 61 min ago; tradeXYZ: live order book, 5 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, 61 min ago	34.92 bp	68.3 bp −$68	doesn't fit	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 5 min ago	3.03 bp	54.1 bp −$54	doesn't fit	doesn't fit	doesn't fit

SHAZ on 11 exchanges

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
Binance SHAZUSDT	0.0000%	8h	59.300	−0.135%	$480K	$2.1M	10x	as long as short
OKX SHAZ-USDT-SWAP	0.0000%	8h	59.380	0.000%	$446K	$264K	10x	as long as short
Gate SHAZ_USDTlong	0.0000%	8h	59.380	long leg	$182K	$41K	20x
Bitget SHAZUSDT	0.0000%	8h	59.390	+0.017%	$196K	$159K	20x	as long as short
Variational Omni SHAZ	0.0000%	8h	59.570	+0.320%	$20K	$39K	—	as long as short
HTX SHAZ-USDT	0.0000%	8h	59.774	+0.664%	$6K	$39K	10x	as long as short
QFEX SHAZ-USD	+0.0008%	1h	59.470	+0.152%	$1.2M	$1.8M	10x	as long as short
KuCoin SHAZUSDTM	+0.0100%	8h	59.760	+0.640%	$78K	$524K	20x	as long as short
tradeXYZ xyz:SHAZshort	+0.0439%	1h	59.398	+0.030%	$1.2M	$301K	10x
edgeX SHAZUSDC	+0.0901%	4h	59.546	+0.279%	$17K	$292K	10x	as long as short

Show all 11 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit SHAZUSDT	+0.1826%	8h	59.370	−0.017%	$153K	$471K	25x	as long as short