Funding arb · Price arb /

SQD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bybit against Gate−0.173%7-day average −0.029% · you buy dearer than you sell

Net, funding: paid 7d − costs−$474as in the Funding arb table

Net, price: spread back to 7d avg − costs−$488as in the Price arb table

costs, in and out, $10k−$4744.740% of the position

Long on Gate Short on Bybit

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)+0.252%+$25 · spread now −0.173%, 7d avg −0.029%

Together, before fees+0.252%+$25 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 0.144% cheaper against Gate than usual: you would sell low and buy high, −$14 on $10k if it goes back to its 7-day average of −0.029%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate SQD_USDT	0.02885	0.0100	pay 0.0050% / 4h	1h 33m	$608K	$28K	20x
Short	Bybit SQDUSDT	0.02880	0.0100	get 0.0050% / 4h	1h 33m	$893K	$341K	20x

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 −0.173%Rate

Funding earned: $0
Price spread: −0.173% → −0.029%: −$14.44
Slippage, 4 orders: −$447.96
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$488.4
Costs to cover: 4.740%
Break-even: never at this rate

Slippage from Gate: live order book, 8 min ago; Bybit: live order book, 7 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, 8 min ago	17.34 bp	165.4 bp −$165	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 7 min ago	10.44 bp	53.4 bp −$53	277.6 bp −$2,776	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
BloFin SQD-USDT	+0.0055%	4h	0.02892	+0.243%	$80K	$41K	50x	as long as short
Aster SQDUSDT	+0.0100%	4h	0.02888	+0.104%	$15K	$1K	5x	as long as short
Binance SQDUSDT	+0.0100%	4h	0.02892	+0.243%	$1.2M	$1.3M	50x	as long as short
Bybit SQDUSDTshort	+0.0100%	4h	0.02880	−0.173%	$893K	$341K	20x
Gate SQD_USDTlong	+0.0100%	4h	0.02885	long leg	$608K	$28K	20x
MEXC SQD_USDT	+0.0100%	4h	0.02892	+0.243%	$5.9M	$181K	50x	as long as short
KuCoin SQDUSDTM	+0.0100%	4h	0.02886	+0.035%	$401K	$1.3M	50x	as long as short
Bitget SQDUSDT	+0.0100%	4h	0.02885	0.000%	$740K	$55K	25x	as long as short
BingX SQD-USDT	+0.0100%	4h	0.02886	+0.035%	—	$2.3M	—	as long as short
Variational Omni SQD	+0.0100%	4h	0.02880	−0.156%	$7K	$33K	—	as long as short