Funding arb · Price arb /

STABLE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Gate against Bybit−0.158%7-day average −0.071% · you buy dearer than you sell

Net, funding: paid 7d − costs−$256as in the Funding arb table

Net, price: spread back to 7d avg − costs−$314as in the Price arb table

costs, in and out, $10k−$3053.049% of the position

Long on Bybit Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.486%+$49 on $10k

Price spread, last 4 days (all we have)+0.093%+$9 · spread now −0.158%, 7d avg −0.071%

Together, before fees+0.579%+$58 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: Gate is 0.087% cheaper against Bybit than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of −0.071%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit STABLEUSDT	0.02525	0.0100	pay 0.0050% / 4h	3h 58m	$1.5M	$778K	25x
Short	Gate STABLE_USDT	0.02521	0.0100	get 0.0050% / 4h	3h 58m	$175K	$70K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Bybit. 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 BybitbpFee GatebpOrdersPrice spread, now −0.158%Rate

Funding earned: $0
Price spread: −0.158% → −0.071%: −$8.7
Slippage, 4 orders: −$278.93
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$313.63
Costs to cover: 3.049%
Break-even: never at this rate

Slippage from Bybit: live order book, 8 min ago; Gate: live order book, 8 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 Bybit live order book, 8 min ago	3.96 bp	35.7 bp −$36	275.8 bp −$2,758	doesn't fit	doesn't fit
Sell Gate live order book, 8 min ago	5.95 bp	107.0 bp −$107	doesn't fit	doesn't fit	doesn't fit

STABLE on 15 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
Lighter STABLE	+0.0096%	1h	0.02538	+0.507%	$117K	$3K	3x	as long as short
Hyperliquid STABLE	+0.0100%	1h	0.02525	+0.004%	$891K	$229K	3x	as long as short
Aster STABLEUSDT	+0.0100%	4h	0.02523	−0.093%	$19K	$6K	20x	as long as short
Binance STABLEUSDT	+0.0100%	4h	0.02525	+0.016%	$2.5M	$2.8M	75x	as long as short
Bybit STABLEUSDTlong	+0.0100%	4h	0.02525	long leg	$1.5M	$778K	25x
OKX STABLE-USDT-SWAP	+0.0100%	4h	0.02522	−0.119%	$206K	$430K	20x	as long as short
Gate STABLE_USDTshort	+0.0100%	4h	0.02521	−0.158%	$175K	$70K	50x
MEXC STABLE_USDT	+0.0100%	4h	0.02523	−0.079%	$673K	$153K	20x	as long as short
KuCoin STABLEUSDTM	+0.0100%	4h	0.02533	+0.317%	$181K	$29K	30x	as long as short
Bitget STABLEUSDT	+0.0100%	4h	0.02525	0.000%	$295K	$115K	25x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX STABLE-USDT	+0.0100%	4h	0.02523	−0.079%	—	$6.5M	—	as long as short
Variational Omni STABLE	+0.0100%	4h	0.02526	+0.026%	$148K	$50K	—	as long as short
SunX STABLE-USDT	+0.0100%	4h	0.02523	−0.099%	$2K	$699K	20x	as long as short
Extended STABLE-USD	+0.0104%	1h	0.02523	−0.084%	$12K	$173K	10x	as long as short
BloFin STABLE-USDT	+0.0151%	4h	0.02520	−0.198%	$115K	$7K	75x	as long as short