Funding arb · Price arb /

S

all S markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0099%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: BingX against gTrade (Gains Network)−0.049%7-day average — · you buy dearer than you sell

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

Long on gTrade (Gains Network)Short on BingX

What this pair did over the last

the charts below follow

Funding, last 3 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. BingX is 0.049% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.049% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 39 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	gTrade (Gains Network) S/USD	0.03996	L +0.0001% / S +0.0006%	pay 0.0000% / 1h	15m 18s	$3K	—	150x
Short	BingX S-USDT	0.03994	0.0100	get 0.0050% / 4h	15m 18s	—	$6.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee BingXbpOrdersPrice spread, now −0.049%Rate

Funding earned: $20.88
Price spread: −0.049% → 0.000%: −$4.9
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$4.02
Costs to cover: 0.200%
Break-even: 8.3 days

Slippage unknown: gTrade (Gains Network): no order-book sample; BingX: live order book, 7 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell BingX live order book, 7 min ago	5.00 bp	24.4 bp −$24	68.3 bp −$683	268.4 bp −$26.8K	673.0 bp −$336.5K

gTrade (Gains Network): 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	−0.6448%	1h	0.03960	−0.900%	$25K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.2562%	1h	0.03984	−0.302%	$33K	$13K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1376%	1h	0.03963	−0.825%	$48K	$16K	25x	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.03997	+0.026%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03991	−0.122%	$4	—	15x	as long as short
Variational Omni S	−0.0024%	4h	0.03987	−0.217%	$619K	$30K	—	as long as short
Deribit S_USDC-PERPETUAL	0.0000%	1h	0.03999	+0.076%	$67K	$10K	10x	as long as short
gTrade (Gains Network) S/USDlong	L +0.0001% / S +0.0006%	1h	0.03996	long leg	$3K	—	150x
Injective S/USDC PERP	+0.0033%	1h	0.04100	+2.604%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0067%	4h	0.03993	−0.074%	$99K	$289K	10x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter S	+0.0096%	1h	0.03998	+0.051%	$168K	$156K	5x	as long as short
Hyperliquid S	+0.0100%	1h	0.03993	−0.079%	$996K	$552K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.03999	+0.080%	$44K	$131K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.03993	−0.074%	$5.4M	$13.7M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03989	−0.174%	$5.7M	$4.5M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.03991	−0.124%	$1.0M	$3.8M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.03992	−0.099%	$325K	$191K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03994	−0.049%	$3.8M	$1.8M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03986	−0.249%	$1.8M	$2.7M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03994	−0.049%	$1.2M	$2.2M	50x	as long as short
BingX S-USDTshort	+0.0100%	4h	0.03994	−0.049%	—	$6.8M	—
ApeX Omni SUSDT	+0.0100%	1h	0.04000	+0.101%	$24K	$463K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03991	−0.126%	$229K	$1.1M	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03994	−0.049%	$276K	$96K	75x	as long as short
Backpack S_USDC_PERP	+0.1082%	1h	0.04000	+0.101%	$116K	$419K	5x	as long as short