Funding arb · Price arb /

TAG

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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 −0.004%

Price spread now: Bybit against Gate+0.025%7-day average +0.169% · you sell dearer than you buy

Net, funding: paid 7d − costs−$723as in the Funding arb table

Net, price: spread back to 7d avg − costs−$764as in the Price arb table

costs, in and out, $10k−$7507.496% of the position

Long on Gate Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.267%+$27 on $10k

Price spread, last 4 days (all we have)−0.025%−$3 · spread now +0.025%, 7d avg +0.169%

Together, before fees+0.242%+$24 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 0.145% 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 +0.169%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate TAG_USDT	0.0008132	0.0100	pay 0.0050% / 4h	1h 27m	$1.4M	$153K	20x
Short	Bybit 1000TAGUSDT	0.0008134	0.0100	get 0.0050% / 4h	1h 27m	$541K	$582K	5x

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 +0.025%Rate

Funding earned: $0
Price spread: +0.025% → +0.169%: −$14.45
Slippage, 4 orders: −$723.63
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$764.08
Costs to cover: 7.496%
Break-even: never at this rate

Slippage from Gate: live order book, 4 min ago; Bybit: live order book, 47 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, 4 min ago	16.00 bp	198.7 bp −$199	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 47 min ago	9.75 bp	114.6 bp −$115	doesn't fit	doesn't fit	doesn't fit

TAG 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
Binance TAGUSDT	+0.0100%	4h	0.0008158	+0.320%	$6.5M	$2.1M	25x	as long as short
Bybit 1000TAGUSDTshort	+0.0100%	4h	0.0008134	+0.025%	$541K	$582K	5x
Gate TAG_USDTlong	+0.0100%	4h	0.0008132	long leg	$1.4M	$153K	20x
MEXC TAG_USDT	+0.0100%	4h	0.0008156	+0.295%	$5.6M	$140K	100x	as long as short
KuCoin TAGUSDTM	+0.0100%	4h	0.0008136	+0.049%	$132K	$34K	25x	as long as short
Bitget TAGUSDT	+0.0100%	4h	0.0008155	+0.283%	$3.8M	$358K	20x	as long as short
BingX TAG-USDT	+0.0100%	4h	0.0008143	+0.135%	—	$1.3M	—	as long as short
Variational Omni TAG	+0.0100%	4h	0.0008155	+0.289%	$366	$471	—	as long as short
Extended TAG-USD	+0.0104%	1h	0.0008155	+0.280%	$2K	$187K	5x	as long as short
Aster TAGUSDT	+0.0813%	4h	0.0008164	+0.394%	$70K	$7K	5x	as long as short