Funding arb · Price arb /

S

all S markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.006%

Price spread now: Bybit against Gate0.000%7-day average −0.024% · you sell dearer than you buy

Net, funding: paid 7d − costs−$192as in the Funding arb table

Net, price: spread back to 7d avg − costs−$188as in the Price arb table

costs, in and out, $10k−$1901.903% of the position

Long on Gate Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.015%−$2 on $10k

Price spread, last 4 days (all we have)+0.201%+$20 · spread now 0.000%, 7d avg −0.024%

Together, before fees+0.185%+$19 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: Bybit is 0.024% dearer against Gate than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of −0.024%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate S_USDT	0.03930	0.0100	pay 0.0050% / 4h	51m 47s	$321K	$258K	50x
Short	Bybit SUSDT	0.03930	0.0100	get 0.0050% / 4h	51m 47s	$5.6M	$5.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Gate. 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 GatebpFee BybitbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → −0.024%: $2.45
Slippage, 4 orders: −$164.29
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$187.84
Costs to cover: 1.903%
Break-even: never at this rate

Slippage from Gate: live order book, 23 min ago; Bybit: live order book, 1 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 Gate live order book, 23 min ago	5.13 bp	66.1 bp −$66	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 1 min ago	2.55 bp	20.1 bp −$20	71.5 bp −$715	doesn't fit	doesn't fit

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	−0.6840%	1h	0.03840	−2.290%	$23K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.2120%	1h	0.03934	+0.096%	$33K	$25K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1336%	1h	0.03826	−2.646%	$47K	$5K	25x	as long as short
Variational Omni S	−0.0974%	4h	0.03933	+0.076%	$610K	$31K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0200% / S +0.0192%	1h	0.03936	+0.150%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03932	+0.051%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03936	+0.150%	$607	—	150x	as long as short
Orderly PERP_S_USDC	+0.0033%	4h	0.03935	+0.127%	$100K	$342K	10x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+4.326%	$2K	$37K	12x	as long as short
Lighter S	+0.0096%	1h	0.03940	+0.254%	$165K	$217K	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	0.03935	+0.130%	$986K	$700K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.03936	+0.143%	$43K	$145K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.03934	+0.102%	$5.4M	$17.6M	75x	as long as short
Bybit SUSDTshort	+0.0100%	4h	0.03930	0.000%	$5.6M	$5.3M	50x
OKX S-USDT-SWAP	+0.0100%	4h	0.03934	+0.102%	$981K	$5.2M	20x	as long as short
Gate S_USDTlong	+0.0100%	4h	0.03930	long leg	$321K	$258K	50x
MEXC S_USDT	+0.0100%	4h	0.03934	+0.102%	$3.6M	$1.9M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03933	+0.076%	$1.8M	$3.0M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03936	+0.153%	$1.2M	$2.5M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03931	+0.025%	—	$6.7M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03930	0.000%	$25K	$453K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03933	+0.082%	$221K	$877K	10x	as long as short
Deribit S_USDC-PERPETUAL	+0.0258%	1h	0.03938	+0.204%	$66K	$10K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03932	+0.051%	$265K	$126K	75x	as long as short
Backpack S_USDC_PERP	+0.0387%	1h	0.03940	+0.254%	$115K	$307K	5x	as long as short