Funding arb · Price arb /

INIT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0048%/8h= +5.3% APRpaid last 24h −0.002%

Price spread now: Gate against BloFin−0.025%7-day average — · you buy dearer than you sell

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

Long on BloFin Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.008%−$1 on $10k

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

Together, before fees—needs both histories

Funding pays, the price is against you. Gate is 0.025% cheaper against BloFin than usual: you would sell low and buy high (spread −0.025% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$2 on $10k: about 41 hours of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin INIT-USDT	0.08160	0.0052	pay 0.0026% / 4h	2h 28m	$154K	$110K	25x
Short	Gate INIT_USDT	0.08158	0.0100	get 0.0100% / 8h	2h 28m	$83K	$56K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against BloFin. 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 BloFinbpFee GatebpOrdersPrice spread, now −0.025%Rate

Funding earned: $10.09
Price spread: −0.025% → 0.000%: −$2.45
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$19.36
Costs to cover: 0.270%
Break-even: 20.4 days

Slippage unknown: BloFin: live order book, 52 min ago; Gate: 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 BloFin live order book, 52 min ago	7.30 bp	27.6 bp −$28	70.9 bp −$709	doesn't fit	doesn't fit
Sell Gate no order-book sample	—	—	—	—	—

Gate: 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.

INIT on 13 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
BloFin INIT-USDTlong	+0.0052%	4h	0.08160	long leg	$154K	$110K	25x
Hyperliquid INIT	+0.0100%	1h	0.08161	+0.016%	$297K	$235K	3x	as long as short
Aster INITUSDT	+0.0100%	4h	0.08166	+0.074%	$27K	$36K	5x	as long as short
Binance INITUSDT	+0.0100%	4h	0.08165	+0.060%	$3.4M	$3.6M	25x	as long as short
Bybit INITUSDT	+0.0100%	4h	0.08153	−0.086%	$1.4M	$1.4M	25x	as long as short
OKX INIT-USDT-SWAP	+0.0100%	4h	0.08183	+0.282%	$132K	$631K	10x	as long as short
Gate INIT_USDTshort	+0.0100%	8h	0.08158	−0.025%	$83K	$56K	25x
MEXC INIT_USDT	+0.0100%	4h	0.08165	+0.061%	$444K	$216K	20x	as long as short
KuCoin INITUSDTM	+0.0100%	4h	0.08166	+0.074%	$325K	$55K	25x	as long as short
Bitget INITUSDT	+0.0100%	4h	0.08162	+0.025%	$426K	$311K	25x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX INIT-USDT	+0.0100%	4h	0.08161	+0.012%	—	$6.6M	—	as long as short
Variational Omni INIT	+0.0100%	4h	0.08152	−0.096%	$26K	$23K	—	as long as short
Kraken Futures PF_INITUSD	+0.0536%	1h	0.08165	+0.065%	$6K	$17K	10x	as long as short