Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0260%/8h= −28.5% APRpaid last 24h −2.428%

Price spread now: 01 Exchange against Gate−1.614%7-day average — · you buy dearer than you sell

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

Long on Gate Short on 01 Exchange

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

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and 01 Exchange is 1.614% cheaper against Gate than usual: you would sell low and buy high (−$161 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate S_USDT	0.03903	0.0100	pay 0.0050% / 4h	1h 18m	$319K	$265K	50x
Short	01 Exchange SUSD	0.03840	−0.0160	pay 0.0020% / 1h	18m 04s	$23K	$2K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now −1.614%Rate

Funding earned: −$54.6
Price spread: −1.614% → 0.000%: −$161.41
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$238.01
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 62 min ago; 01 Exchange: no order-book sample. 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 Gate live order book, 62 min ago	7.65 bp	76.9 bp −$77	doesn't fit	doesn't fit	doesn't fit
Sell 01 Exchange no order-book sample	—	—	—	—	—

01 Exchange: 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
Kraken Futures PF_SUSD	−0.1602%	1h	0.03901	−0.056%	$33K	$26K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1576%	1h	0.03826	−1.973%	$47K	$5K	25x	as long as short
Variational Omni S	−0.0870%	4h	0.03900	−0.077%	$607K	$31K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0197% / S +0.0190%	1h	0.03906	+0.082%	$1K	—	100x	as long as short
01 Exchange SUSDshort	−0.0160%	1h	0.03840	−1.614%	$23K	$2K	5x
Reya SRUSDPERP	−0.0101%	1h	0.03903	−0.013%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03907	+0.093%	$602	—	150x	as long as short
Orderly PERP_S_USDC	+0.0029%	4h	0.03904	+0.026%	$99K	$344K	10x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+5.047%	$2K	$37K	12x	as long as short
Lighter S	+0.0096%	1h	0.03908	+0.128%	$164K	$223K	5x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster SUSDT	+0.0100%	4h	0.03906	+0.067%	$43K	$212K	10x	as long as short
Hyperliquid S	+0.0100%	1h	0.03903	−0.005%	$979K	$716K	5x	as long as short
Binance SUSDT	+0.0100%	4h	0.03901	−0.042%	$5.3M	$18.4M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03893	−0.256%	$5.5M	$5.5M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.03900	−0.077%	$975K	$5.5M	20x	as long as short
Gate S_USDTlong	+0.0100%	4h	0.03903	long leg	$319K	$265K	50x
MEXC S_USDT	+0.0100%	4h	0.03903	0.000%	$3.5M	$2.3M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03900	−0.077%	$1.8M	$3.0M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03906	+0.077%	$1.2M	$2.6M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03901	−0.051%	—	$6.7M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03910	+0.179%	$25K	$460K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03902	−0.032%	$219K	$877K	10x	as long as short
Deribit S_USDC-PERPETUAL	+0.0262%	1h	0.03908	+0.128%	$66K	$10K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03906	+0.077%	$267K	$126K	75x	as long as short
Backpack S_USDC_PERP	+0.0471%	1h	0.03910	+0.179%	$114K	$300K	5x	as long as short