Funding arb · Price arb /

LAYER

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Binance against Bitget+0.008%7-day average −0.052% · you sell dearer than you buy

Net, funding: paid 7d − costs−$125as in the Funding arb table

Net, price: spread back to 7d avg − costs−$117as in the Price arb table

costs, in and out, $10k−$1231.227% of the position

Long on Bitget Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.022%−$2 on $10k

Price spread, last 7 days−0.140%−$14 · spread now +0.008%, 7d avg −0.052%

Together, before fees−0.161%−$16 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 0.061% dearer against Bitget than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of −0.052%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget LAYERUSDT	0.07700	0.0100	pay 0.0050% / 4h	3h 32m	$1.1M	$121K	50x
Short	Binance LAYERUSDT	0.07701	0.0100	get 0.0050% / 4h	3h 32m	$2.1M	$2.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Bitget. 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 BitgetbpFee BinancebpOrdersPrice spread, now +0.008%Rate

Funding earned: $0
Price spread: +0.008% → −0.052%: $6.05
Slippage, 4 orders: −$100.68
Fee Bitget: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$116.63
Costs to cover: 1.227%
Break-even: never at this rate

Slippage from Bitget: live order book, 4 min ago; Binance: live order book, 3 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 Bitget live order book, 4 min ago	9.09 bp	32.0 bp −$32	215.1 bp −$2,151	doesn't fit	doesn't fit
Sell Binance live order book, 3 min ago	1.95 bp	28.4 bp −$28	99.6 bp −$996	doesn't fit	doesn't fit

LAYER 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
Kraken Futures PF_LAYERUSD	−0.0001%	1h	0.07700	+0.002%	$8K	$54	10x	as long as short
Injective LAYER/USDC PERP	+0.0033%	1h	0.07274	−5.532%	—	$18K	5.5x	as long as short
Hyperliquid LAYER	+0.0100%	1h	0.07713	+0.174%	$598K	$164K	3x	as long as short
Aster LAYERUSDT	+0.0100%	4h	0.07697	−0.043%	$10K	$4K	5x	as long as short
Binance LAYERUSDTshort	+0.0100%	4h	0.07701	+0.008%	$2.1M	$2.5M	50x
OKX LAYER-USDT-SWAP	+0.0100%	4h	0.07695	−0.065%	$719K	$703K	20x	as long as short
Gate LAYER_USDT	+0.0100%	4h	0.07708	+0.104%	$139K	$39K	20x	as long as short
MEXC LAYER_USDT	+0.0100%	4h	0.07700	0.000%	$378K	$131K	20x	as long as short
Bitget LAYERUSDTlong	+0.0100%	4h	0.07700	long leg	$1.1M	$121K	50x
BingX LAYER-USDT	+0.0100%	4h	0.07700	0.000%	—	$1.6M	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni LAYERUSDT	+0.0100%	1h	0.07700	0.000%	$17K	$193K	50x	as long as short
Extended LAYER-USD	+0.0104%	1h	0.07699	−0.017%	$3K	$173K	5x	as long as short
BloFin LAYER-USDT	+0.0156%	4h	0.07696	−0.052%	$115K	$15K	50x	as long as short