Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0690%/8h= −75.6% APRpaid last 24h −0.178%

Price spread now: Gate against Binance+0.043%7-day average −0.113% · you sell dearer than you buy

Net, funding: paid 7d − costs−$239as in the Funding arb table

Net, price: spread back to 7d avg − costs−$175as in the Price arb table

costs, in and out, $10k−$1911.908% of the position

Long on Binance Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.480%−$48 on $10k

Price spread, last 7 days−0.189%−$19 · spread now +0.043%, 7d avg −0.113%

Together, before fees−0.669%−$67 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.156% dearer against Binance than usual: you sell high and buy low (spread +0.043% now, against its 7-day average of −0.113%): +$16 on $10k if it goes back. Holding the pair costs −$21 a day in funding at the current rate, which eats that in about 18 hours. At the pace of the last 7 days (−0.480% in total) that is about 2.3 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.480% in total (about -25.0% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance MUSDT	1.3857	0.0790	pay 0.0395% / 4h	3h 01m	$5.4M	$3.8M	10x
Short	Gate M_USDT	1.3863	0.0100	get 0.0100% / 8h	3h 01m	$1.9M	$903K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Binance. 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 BinancebpFee GatebpOrdersPrice spread, now +0.043%Rate

Funding earned: −$144.92
Price spread: +0.043% → −0.113%: $15.6
Slippage, 4 orders: −$165.85
Fee Binance: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$320.16
Costs to cover: 1.908%
Break-even: never at this rate

Slippage from Binance: live order book, 7 min ago; Gate: live order book, 2 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 Binance live order book, 7 min ago	1.08 bp	32.3 bp −$32	308.1 bp −$3,081	doesn't fit	doesn't fit
Sell Gate live order book, 2 min ago	9.36 bp	55.9 bp −$56	doesn't fit	doesn't fit	doesn't fit

M on 12 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
Gate M_USDTshort	+0.0100%	8h	1.3863	+0.043%	$1.9M	$903K	10x
Bitget MUSDT	+0.0100%	4h	1.3859	+0.014%	$1.8M	$246K	10x	as long as short
Orderly PERP_M_USDC	+0.0100%	4h	1.3883	+0.188%	$2K	$510	10x	as long as short
SunX M-USDT	+0.0100%	4h	1.3887	+0.216%	$2K	$798K	20x	as long as short
Variational Omni M	+0.0512%	4h	1.3865	+0.058%	$86K	$43K	—	as long as short
Aster MUSDT	+0.0515%	4h	1.3836	−0.153%	$14K	$80K	5x	as long as short
BloFin M-USDT	+0.0759%	4h	1.3859	+0.014%	$348K	$442K	10x	as long as short
MEXC M_USDT	+0.0790%	4h	1.3872	+0.108%	$229K	$109K	50x	as long as short
Binance MUSDTlong	+0.0790%	4h	1.3857	long leg	$5.4M	$3.8M	10x
BingX M-USDT	+0.0820%	4h	1.3864	+0.051%	—	$2.4M	—	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit MUSDT	+0.1054%	4h	1.3853	−0.029%	$4.3M	$1.8M	20x	as long as short
KuCoin MUSDTM	+0.1968%	4h	1.3765	−0.665%	$1.4M	$3.9M	10x	as long as short