Funding arb · Price arb /

IO

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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: Binance against Gate−0.007%7-day average +0.035% · you buy dearer than you sell

Net, funding: paid 7d − costs−$324as in the Funding arb table

Net, price: spread back to 7d avg − costs−$326as in the Price arb table

costs, in and out, $10k−$3223.220% of the position

Long on Gate Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.017%−$2 on $10k

Price spread, last 4 days (all we have)+0.040%+$4 · spread now −0.007%, 7d avg +0.035%

Together, before fees+0.023%+$2 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: Binance is 0.042% cheaper against Gate than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.035%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate IO_USDT	0.1519	0.0100	pay 0.0050% / 4h	49m 30s	$245K	$547K	50x
Short	Binance IOUSDT	0.1519	0.0100	get 0.0050% / 4h	49m 30s	$3.0M	$6.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −0.007%Rate

Funding earned: $0
Price spread: −0.007% → +0.035%: −$4.21
Slippage, 4 orders: −$297.03
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Binance: 5 bp × 2 orders: −$10
Net: −$326.24
Costs to cover: 3.220%
Break-even: never at this rate

Slippage from Gate: live order book, 26 min ago; Binance: 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 Gate live order book, 26 min ago	2.98 bp	83.5 bp −$84	14165.7 bp −$141.7K	doesn't fit	doesn't fit
Sell Binance live order book, 4 min ago	3.29 bp	19.6 bp −$20	95.0 bp −$950	doesn't fit	doesn't fit

IO on 14 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
Injective IO/USDC PERP	−0.0159%	1h	0.1521	+0.125%	$2K	$103	5.5x	as long as short
Hyperliquid IO	+0.0100%	1h	0.1518	−0.066%	$1.0M	$387K	3x	as long as short
Aster IOUSDT	+0.0100%	4h	0.1520	+0.075%	$6K	$32K	5x	as long as short
Binance IOUSDTshort	+0.0100%	4h	0.1519	−0.007%	$3.0M	$6.5M	50x
Bybit IOUSDT	+0.0100%	4h	0.1517	−0.171%	$1.1M	$878K	25x	as long as short
Gate IO_USDTlong	+0.0100%	4h	0.1519	long leg	$245K	$547K	50x
MEXC IO_USDT	+0.0100%	4h	0.1517	−0.138%	$1.1M	$224K	125x	as long as short
KuCoin IOUSDTM	+0.0100%	4h	0.1519	−0.007%	$388K	$659K	50x	as long as short
Bitget IOUSDT	+0.0100%	4h	0.1521	+0.125%	$1.3M	$1.2M	50x	as long as short
BingX IO-USDT	+0.0100%	4h	0.1519	−0.007%	—	$1.3M	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni IO	+0.0100%	4h	0.1518	−0.052%	$30K	$5K	—	as long as short
Extended IO-USD	+0.0104%	1h	0.1519	−0.020%	$5K	$171K	5x	as long as short
BloFin IO-USDT	+0.0111%	4h	0.1519	−0.007%	$194K	$31K	50x	as long as short
Kraken Futures PF_IOUSD	+1.2531%	1h	0.1522	+0.186%	$39K	$19K	10x	as long as short