Funding arb · Price arb /

BASED

all BASED markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bybit against Gate−0.134%7-day average −0.064% · you buy dearer than you sell

Net, funding: paid 7d − costs−$190as in the Funding arb table

Net, price: spread back to 7d avg − costs−$194as in the Price arb table

costs, in and out, $10k−$1871.873% of the position

Long on Gate Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.025%−$2 on $10k

Price spread, last 4 days (all we have)−0.416%−$42 · spread now −0.134%, 7d avg −0.064%

Together, before fees−0.440%−$44 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.070% cheaper against Gate than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of −0.064%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate BASED_USDT	0.06717	0.0100	pay 0.0050% / 4h	2h 56m	$534K	$507K	50x
Short	Bybit BASEDUSDT	0.06708	0.0100	get 0.0050% / 4h	2h 56m	$2.1M	$572K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.134%Rate

Funding earned: $0
Price spread: −0.134% → −0.064%: −$6.97
Slippage, 4 orders: −$161.28
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$194.25
Costs to cover: 1.873%
Break-even: never at this rate

Slippage from Gate: live order book, 29 min ago; Bybit: live order book, just now.

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, 29 min ago	6.69 bp	31.4 bp −$31	6180.1 bp −$61.8K	doesn't fit	doesn't fit
Sell Bybit live order book, just now	3.73 bp	72.4 bp −$72	917.2 bp −$9,172	doesn't fit	doesn't fit

BASED on 15 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 BASEDUSDT	+0.0100%	4h	0.06719	+0.024%	$28K	$6K	5x	as long as short
Binance BASEDUSDT	+0.0100%	4h	0.06719	+0.029%	$4.1M	$2.9M	25x	as long as short
Bybit BASEDUSDTshort	+0.0100%	4h	0.06708	−0.134%	$2.1M	$572K	25x
OKX BASED-USDT-SWAP	+0.0100%	4h	0.06708	−0.134%	$2.6M	$3.3M	20x	as long as short
Gate BASED_USDTlong	+0.0100%	4h	0.06717	long leg	$534K	$507K	50x
MEXC BASED_USDT	+0.0100%	4h	0.06719	+0.030%	$4.8M	$643K	50x	as long as short
KuCoin BASEDUSDTM	+0.0100%	4h	0.06715	−0.030%	$566K	$109K	20x	as long as short
Bitget BASEDUSDT	+0.0100%	4h	0.06724	+0.104%	$1.3M	$358K	25x	as long as short
BingX BASED-USDT	+0.0100%	4h	0.06714	−0.045%	—	$1.6M	—	as long as short
Variational Omni BASED	+0.0100%	4h	0.06718	+0.009%	$92K	$21K	—	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT BASED_USDT_Perp	+0.0100%	4h	0.06729	+0.179%	$93K	$379K	10x	as long as short
SunX BASED-USDT	+0.0100%	4h	0.06708	−0.134%	$1K	$789K	20x	as long as short
Extended BASED-USD	+0.0104%	1h	0.06718	+0.018%	$5K	$226K	5x	as long as short
BloFin BASED-USDT	+0.0133%	4h	0.06727	+0.149%	$211K	$37K	25x	as long as short
Orderly PERP_BASED_USDC	+0.0241%	4h	0.06718	+0.015%	$3K	$652	10x	as long as short