Funding arb · Price arb /

SQD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Binance against Bitget+0.236%7-day average +0.140% · you sell dearer than you buy

Net, funding: paid 7d − costs−$154as in the Funding arb table

Net, price: spread back to 7d avg − costs−$144as in the Price arb table

costs, in and out, $10k−$1541.539% of the position

Long on Bitget Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)−0.113%−$11 · spread now +0.236%, 7d avg +0.140%

Together, before fees−0.113%−$11 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: Binance is 0.097% dearer against Bitget than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of +0.140%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget SQDUSDT	0.02894	0.0100	pay 0.0050% / 4h	3h 03m	$755K	$59K	25x
Short	Binance SQDUSDT	0.02901	0.0100	get 0.0050% / 4h	3h 03m	$1.2M	$1.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Bitget. 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 BitgetbpFee BinancebpOrdersPrice spread, now +0.236%Rate

Funding earned: $0
Price spread: +0.236% → +0.140%: $9.68
Slippage, 4 orders: −$131.91
Fee Bitget: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$144.23
Costs to cover: 1.539%
Break-even: never at this rate

Slippage from Bitget: live order book, 27 min ago; Binance: live order book, 14 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 Bitget live order book, 27 min ago	10.53 bp	37.8 bp −$38	266.9 bp −$2,669	doesn't fit	doesn't fit
Sell Binance live order book, 14 min ago	3.46 bp	47.3 bp −$47	159.9 bp −$1,599	doesn't fit	doesn't fit

SQD on 10 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
Aster SQDUSDT	+0.0100%	4h	0.02896	+0.062%	$15K	$928	5x	as long as short
Binance SQDUSDTshort	+0.0100%	4h	0.02901	+0.236%	$1.2M	$1.3M	50x
Bybit SQDUSDT	+0.0100%	4h	0.02889	−0.173%	$894K	$316K	20x	as long as short
Gate SQD_USDT	+0.0100%	4h	0.02892	−0.069%	$610K	$28K	20x	as long as short
MEXC SQD_USDT	+0.0100%	4h	0.02903	+0.311%	$5.9M	$184K	50x	as long as short
KuCoin SQDUSDTM	+0.0100%	4h	0.02897	+0.104%	$403K	$1.2M	50x	as long as short
Bitget SQDUSDTlong	+0.0100%	4h	0.02894	long leg	$755K	$59K	25x
BingX SQD-USDT	+0.0100%	4h	0.02897	+0.104%	—	$2.3M	—	as long as short
Variational Omni SQD	+0.0100%	4h	0.02892	−0.068%	$7K	$33K	—	as long as short
BloFin SQD-USDT	+0.0113%	4h	0.02898	+0.138%	$80K	$29K	50x	as long as short