Funding arb · Price arb /

ALGO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0103%/8h= −11.3% APRpaid last 24h −0.031%

Price spread now: gTrade (Gains Network) against BingX+0.214%7-day average — · you sell dearer than you buy

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

Long on BingX Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—needs both histories

The price spread pays, funding is against you. gTrade (Gains Network) is 0.214% dearer against BingX than usual: you sell high and buy low (spread +0.214% now, against zero (this spread has no 7-day history yet)): +$21 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 6.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX ALGO-USDT	0.1115	0.0100	pay 0.0100% / 8h	7h 50m	—	$3.3M	—
Short	gTrade (Gains Network) ALGO/USD	0.1118	L +0.0001% / S +0.0003%	pay 0.0000% / 1h	50m 03s	$6K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against BingX. 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 BingXbpFee gTrade (Gains Network)bpOrdersPrice spread, now +0.214%Rate

Funding earned: −$21.61
Price spread: +0.214% → 0.000%: $21.43
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$20.18
Costs to cover: 0.200%
Break-even: from the start

Slippage unknown: BingX: live order book, 5 min ago; gTrade (Gains Network): no order-book sample. 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 BingX live order book, 5 min ago	0.45 bp	25.0 bp −$25	41.0 bp −$410	322.7 bp −$32.3K	694.3 bp −$347.2K
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

gTrade (Gains Network): 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.

ALGO on 22 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
Deribit ALGO_USDC-PERPETUAL	−0.0735%	1h	0.1116	+0.054%	$101K	$50K	25x	as long as short
Kraken Futures PF_ALGOUSD	−0.0567%	1h	0.1116	+0.084%	$831K	$1.1M	50x	as long as short
Bybit ALGOUSDT	−0.0278%	8h	0.1115	−0.054%	$11.2M	$12.0M	75x	as long as short
Variational Omni ALGO	−0.0137%	8h	0.1116	+0.070%	$62K	$12K	—	as long as short
Coinbase International ALGO-PERP-INTX	−0.0104%	1h	0.1123	+0.708%	$67K	$301K	50x	as long as short
gTrade (Gains Network) ALGO/USDshort	L +0.0001% / S +0.0003%	1h	0.1118	+0.214%	$6K	—	150x
Injective ALGO/USDC PERP	+0.0033%	1h	0.1120	+0.421%	$834	$233K	12x	as long as short
MEXC ALGO_USDT	+0.0093%	8h	0.1115	−0.036%	$22.9M	$2.9M	200x	as long as short
Binance ALGOUSDT	+0.0093%	8h	0.1116	+0.030%	$9.9M	$34.4M	75x	as long as short
Extended ALGO-USD	+0.0096%	1h	0.1115	−0.022%	$6K	$224K	10x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid ALGO	+0.0100%	1h	0.1117	+0.179%	$3.7M	$1.8M	5x	as long as short
Aster ALGOUSDT	+0.0100%	8h	0.1117	+0.163%	$44K	$38K	5x	as long as short
OKX ALGO-USDT-SWAP	+0.0100%	8h	0.1116	+0.027%	$2.9M	$7.5M	50x	as long as short
Gate ALGO_USDT	+0.0100%	8h	0.1117	+0.161%	$877K	$810K	50x	as long as short
KuCoin ALGOUSDTM	+0.0100%	8h	0.1117	+0.117%	$3.6M	$1.4M	50x	as long as short
Bitget ALGOUSDT	+0.0100%	8h	0.1117	+0.152%	$5.6M	$3.5M	75x	as long as short
BingX ALGO-USDTlong	+0.0100%	8h	0.1115	long leg	—	$3.3M	—
HTX ALGO-USDT	+0.0100%	8h	0.1115	−0.027%	$66K	$108K	75x	as long as short
BloFin ALGO-USDT	+0.0213%	8h	0.1121	+0.520%	$492K	$792K	75x	as long as short
Phemex ALGOUSDT	+0.0270%	8h	0.1118	+0.242%	$3.8M	$1.8M	50x	as long as short
GMX ALGO/USD [WBTC.b-USDC]	L +0.0339% / S −0.0346%	1h	0.1117	+0.183%	$7K	—	100x	as long as short
dYdX ALGO-USD	+0.1073%	1h	0.1117	+0.152%	$160K	$3K	5x	as long as short