Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.024%

Price spread now: Gate against 01 Exchange−0.018%7-day average +0.002% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$240.243% of the position

Long on 01 Exchange Short on Gate

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.076%+$8 on $10k

Price spread, last 7 days−0.002%$0 · spread now −0.018%, 7d avg +0.002%

Together, before fees+0.074%+$7 on $10k · with fees, hour by hour

Funding pays, the price is against you. Gate is 0.020% cheaper against 01 Exchange than usual: you would sell low and buy high (spread −0.018% now, against its 7-day average of +0.002%). If the spread goes back, that is −$2 on $10k: about 16 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange BTCUSD	85,496	0	get 0.0000% / 1h	45m 22s	$346K	$2.3M	50x
Short	Gate BTC_USDT	85,480.3	0.0100	get 0.0100% / 8h	7h 45m	$5.51B	$9.87B	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against 01 Exchange. 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 01 ExchangebpFee GatebpOrdersPrice spread, now −0.018%Rate

Funding earned: $21
Price spread: −0.018% → +0.002%: −$2.01
Slippage, 4 orders: −$2.34
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$5.34
Costs to cover: 0.243%
Break-even: 8.8 days

Slippage from 01 Exchange: live order book, 4 min ago; Gate: live order book, 4 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 01 Exchange live order book, 4 min ago	0.01 bp	4.4 bp −$4	9.6 bp −$96	doesn't fit	doesn't fit
Sell Gate live order book, 4 min ago	0.01 bp	7.5 bp −$8	7.7 bp −$77	8.5 bp −$854	10.5 bp −$5,235

BTC on 56 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
Hotstuff BTC-PERP	−0.0080%	1h	85,478	−0.021%	$8K	$2K	50x	as long as short
BloFin BTC-USDT	−0.0020%	8h	85,475.8	−0.024%	$422.6M	$682.3M	150x	as long as short
Injective BTC/USDC PERP	−0.0006%	1h	85,493	−0.004%	$307K	$23.6M	52x	as long as short
01 Exchange BTCUSDlong	0.0000%	1h	85,496	long leg	$346K	$2.3M	50x
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,498.1	+0.002%	$36.6M	—	200x	as long as short
KuCoin XBTUSDTM	+0.0010%	8h	85,474.9	−0.025%	$932.3M	$776.0M	125x	as long as short
Aster BTCUSDT	+0.0030%	8h	85,470.7	−0.030%	$502.5M	$1.08B	200x	as long as short
dYdX BTC-USD	+0.0052%	1h	85,475.8	−0.024%	$16.7M	$21.0M	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0068%	1h	85,487.4	−0.010%	$186.3M	$947.3M	100x	as long as short
Phoenix BTC	+0.0075%	1h	85,525	+0.034%	$2.3M	$10.4M	40x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BTC-USDC	+0.0080%	8h	85,460.5	−0.042%	—	$17.4M	—	as long as short
Lighter BTC	+0.0096%	1h	85,493.9	−0.002%	$170.4M	$942.0M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,494.8	−0.001%	$23.6M	$133.8M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,480	−0.019%	$8.7M	$58.4M	100x	as long as short
Aevo BTC-PERP	+0.0096%	1h	85,468.6	−0.032%	$2.4M	$6.7M	20x	as long as short
Deribit BTC-PERPETUAL	+0.0099%	1h	85,513.7	+0.021%	$831.6M	$1.66B	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,455	−0.048%	$266K	$8.7M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,516.7	+0.024%	$5.7M	$9.6M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	85,474.3	−0.025%	$24.1M	$217.6M	50x	as long as short
Pacifica BTC	+0.0100%	1h	85,512.9	+0.020%	$40.1M	$605.5M	50x	as long as short
Binance BTCUSDT	+0.0100%	8h	85,477.3	−0.022%	$9.41B	$25.11B	150x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,475	−0.025%	$5.10B	$10.01B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,476.7	−0.023%	$2.61B	$12.22B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,478	−0.021%	$3.9M	$17.3M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,488	−0.009%	$4.7M	$97.6M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,453	−0.050%	$700.3M	$171.9M	40x	as long as short
Gate BTC_USDTshort	+0.0100%	8h	85,480.3	−0.018%	$5.51B	$9.87B	200x
MEXC BTC_USDT	+0.0100%	8h	85,477.9	−0.021%	$5.05B	$5.73B	500x	as long as short
Bitget BTCUSDT	+0.0100%	8h	85,475.7	−0.024%	$2.98B	$5.17B	150x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,485.2	−0.013%	$37.8M	$193.8M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,465.7	−0.035%	$156.0M	$544.2M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,452.5	−0.051%	$283.3M	$961.3M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,471.5	−0.029%	$214.7M	$156.3M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,488.2	−0.009%	$136.6M	$312.4M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,487.1	−0.010%	$30.1M	$218.5M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,555.8	+0.070%	—	$9.7M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,240	−0.299%	$10.9M	$14.9M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,483.8	−0.014%	$200K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,478.4	−0.021%	$2.7M	$9.9M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	84,629.4	−1.014%	$192K	$796K	40x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,480.9	−0.018%	$2.9M	$6.7M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,475	−0.025%	$59.8M	$336.6M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,477	−0.022%	$2.26B	$974.2M	200x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,482	−0.016%	$160.9M	$517.5M	150x	as long as short
Extended BTC-USD	+0.0104%	1h	85,450.2	−0.054%	$45.7M	$241.5M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,501.6	+0.007%	—	$107.4M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	85,515.4	+0.023%	$112.0M	$5.46B	50x	as long as short
Reya BTCRUSDPERP	+0.0147%	1h	85,469.1	−0.031%	$6.6M	$139.1M	40x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0174% / S −0.0148%	1h	85,484	−0.014%	$13.0M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0190%	8h	85,516	+0.023%	$10.6M	$739.1M	6.4x	as long as short
RISEx BTC/USDC	+0.0194%	1h	85,506.1	+0.012%	$8.9M	$42.7M	25x	as long as short
Hyperliquid BTC	+0.0203%	1h	85,553	+0.067%	$3.80B	$5.16B	40x	as long as short
Derive BTC-PERP	+0.0240%	1h	85,554.9	+0.069%	$28.9M	$49.3M	15x	as long as short
Aftermath Perps BTCUSD	+0.0290%	1h	85,487.7	−0.010%	$81K	$248K	20x	as long as short
Hibachi BTC/USDT-P	+0.0344%	1h	85,539.2	+0.051%	$688K	$7.7M	30x	as long as short
Perpl BTC	+0.0447%	43m	85,503.1	+0.008%	$468K	$18.4M	6.7x	as long as short