Funding arb · Price arb /

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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 +0.030%

Price spread now: Gate against dYdX−0.055%7-day average — · you buy dearer than you sell

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

Long on dYdX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)—no history yet

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 0.055% cheaper against dYdX than usual: you would sell low and buy high (spread −0.055% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 44 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	dYdX OP-USD	0.1264	0	get 0.0000% / 1h	0m 15s	$39K	$522	10x
Short	Gate OP_USDT	0.1263	0.0100	get 0.0100% / 8h	7h 00m	$2.0M	$1.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against dYdX. 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 dYdXbpFee GatebpOrdersPrice spread, now −0.055%Rate

Funding earned: $21
Price spread: −0.055% → 0.000%: −$5.52
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$9.52
Costs to cover: 0.250%
Break-even: 10.2 days

Slippage unknown: dYdX: no order-book sample; Gate: live order book, 2 min ago. 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 dYdX no order-book sample	—	—	—	—	—
Sell Gate live order book, 2 min ago	2.38 bp	21.0 bp −$21	53.4 bp −$534	doesn't fit	doesn't fit

dYdX: 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.

OP on 30 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 OP/USDC PERP	−0.1328%	1h	0.1257	−0.538%	$35K	$67K	12x	as long as short
GMX OP/USD [OP-USDC]	L −0.1164% / S +0.0246%	1h	0.1263	−0.038%	$13K	—	100x	as long as short
Orderly PERP_OP_USDC	−0.0050%	8h	0.1263	−0.063%	$12K	$233K	10x	as long as short
dYdX OP-USDlong	0.0000%	1h	0.1264	long leg	$39K	$522	10x
Deribit OP_USDC-PERPETUAL	0.0000%	1h	0.1263	−0.063%	$31K	$153K	25x	as long as short
gTrade (Gains Network) OP/USD	L +0.0004% / S −0.0004%	1h	0.1264	−0.012%	—	—	150x	as long as short
KuCoin OPUSDTM	+0.0016%	8h	0.1262	−0.142%	$2.9M	$6.0M	75x	as long as short
Variational Omni OP	+0.0073%	8h	0.1262	−0.141%	$223K	$46K	—	as long as short
Extended OP-USD	+0.0088%	1h	0.1262	−0.133%	$104K	$590K	25x	as long as short
Binance OPUSDT	+0.0091%	8h	0.1262	−0.108%	$19.5M	$68.0M	75x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC OP_USDT	+0.0092%	8h	0.1263	−0.103%	$22.5M	$7.9M	300x	as long as short
Lighter OP	+0.0096%	1h	0.1263	−0.047%	$290K	$1.1M	15x	as long as short
Hyperliquid OP	+0.0100%	1h	0.1263	−0.079%	$3.5M	$3.7M	5x	as long as short
Aster OPUSDT	+0.0100%	8h	0.1264	−0.018%	$204K	$211K	10x	as long as short
Bybit OPUSDT	+0.0100%	8h	0.1262	−0.142%	$18.5M	$26.2M	75x	as long as short
OKX OP-USDT-SWAP	+0.0100%	8h	0.1262	−0.150%	$6.1M	$29.6M	50x	as long as short
Gate OP_USDTshort	+0.0100%	8h	0.1263	−0.055%	$2.0M	$1.5M	50x
Bitget OPUSDT	+0.0100%	8h	0.1263	−0.063%	$5.8M	$6.8M	75x	as long as short
BingX OP-USDT	+0.0100%	8h	0.1263	−0.087%	—	$6.7M	—	as long as short
Backpack OP_USDC_PERP	+0.0100%	1h	0.1263	−0.079%	$113K	$214K	10x	as long as short
edgeX OPUSDC	+0.0100%	4h	0.1263	−0.041%	$4K	$1.1M	10x	as long as short
GRVT OP_USDT_Perp	+0.0100%	8h	0.1263	−0.064%	$307K	$5.4M	10x	as long as short
ApeX Omni OPUSDT	+0.0100%	1h	0.1264	+0.016%	$44K	$692K	50x	as long as short
SoDEX OP-USD	+0.0100%	1h	0.1263	−0.103%	$196	$5K	5x	as long as short
HTX OP-USDT	+0.0100%	8h	0.1264	−0.016%	$172K	$266K	50x	as long as short
Aevo OP-PERP	+0.0104%	1h	0.1263	−0.103%	$3K	$1K	3x	as long as short
Coinbase International OP-PERP-INTX	+0.0112%	1h	0.1265	+0.095%	$25K	$69K	50x	as long as short
Kraken Futures PF_OPUSD	+0.0153%	1h	0.1265	+0.077%	$748K	$734K	20x	as long as short
BloFin OP-USDT	+0.0212%	8h	0.1265	+0.056%	$989K	$279K	75x	as long as short
Reya OPRUSDPERP	+0.0445%	1h	0.1263	−0.076%	$702	—	20x	as long as short