Funding arb · Price arb /

S

all S markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.1556%/8h= +170.4% APRpaid last 24h +0.601%

Price spread now: Gate against Coinbase International+2.511%7-day average — · you sell dearer than you buy

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

Long on Coinbase International Short on Gate

What this pair did over the last

the charts below follow

Funding, last 5 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

Both sides work for this trade now. Funding pays +$47 a day on $10k at the current rate, and Gate is 2.511% dearer against Coinbase International than usual: you sell high and buy low: +$251 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International S-PERP-INTX	0.04022	−0.1456	get 0.0182% / 1h	31m 03s	$48K	$16K	25x
Short	Gate S_USDT	0.04123	0.0100	get 0.0050% / 4h	1h 31m	$339K	$200K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Coinbase International. 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 Coinbase InternationalbpFee GatebpOrdersPrice spread, now +2.511%Rate

Funding earned: $326.76
Price spread: +2.511% → 0.000%: $251.12
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: $552.88
Costs to cover: 0.250%
Break-even: from the start

Slippage unknown: Coinbase International: no order-book sample; Gate: live order book, 29 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 Coinbase International no order-book sample	—	—	—	—	—
Sell Gate live order book, 29 min ago	8.67 bp	75.6 bp −$76	doesn't fit	doesn't fit	doesn't fit

Coinbase International: 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.

S on 25 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
01 Exchange SUSD	−1.1432%	1h	0.03950	−1.790%	$24K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.1666%	1h	0.04123	+2.509%	$34K	$16K	10x	as long as short
Coinbase International S-PERP-INTXlong	−0.1456%	1h	0.04022	long leg	$48K	$16K	25x
Variational Omni S	−0.0208%	4h	0.04122	+2.478%	$639K	$31K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.04130	+2.678%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.04128	+2.636%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04129	+2.668%	$2K	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+1.939%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0067%	4h	0.04129	+2.660%	$103K	$331K	10x	as long as short
Lighter S	+0.0096%	1h	0.04132	+2.735%	$172K	$156K	5x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid S	+0.0100%	1h	0.04132	+2.727%	$1.0M	$554K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04130	+2.677%	$45K	$133K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.04130	+2.694%	$5.7M	$13.8M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.04125	+2.561%	$5.9M	$4.5M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.04132	+2.735%	$1.1M	$4.0M	20x	as long as short
Gate S_USDTshort	+0.0100%	4h	0.04123	+2.511%	$339K	$200K	50x
MEXC S_USDT	+0.0100%	4h	0.04129	+2.660%	$4.0M	$1.8M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.04125	+2.561%	$1.9M	$2.7M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.04130	+2.685%	$1.2M	$2.1M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.04129	+2.660%	—	$6.8M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.04110	+2.188%	$25K	$448K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.04127	+2.600%	$234K	$1.1M	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.04123	+2.511%	$283K	$106K	75x	as long as short
Deribit S_USDC-PERPETUAL	+0.0719%	1h	0.04132	+2.735%	$69K	$10K	10x	as long as short
Backpack S_USDC_PERP	+0.1654%	1h	0.04140	+2.934%	$122K	$365K	5x	as long as short