Funding arb · Price arb /

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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 0.000%

Price spread now: Gate against BingX+0.340%7-day average −0.037% · you sell dearer than you buy

Net, funding: paid 7d − costs−$578as in the Funding arb table

Net, price: spread back to 7d avg − costs−$535as in the Price arb table

costs, in and out, $10k−$5735.729% of the position

Long on BingX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.056%−$6 on $10k

Price spread, last 4 days (all we have)−0.263%−$26 · spread now +0.340%, 7d avg −0.037%

Together, before fees−0.319%−$32 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 0.377% dearer against BingX than usual: you sell high and buy low, +$38 on $10k if it goes back to its 7-day average of −0.037%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX W-USDT	0.01175	0.0100	pay 0.0050% / 4h	2h 25m	—	$6.9M	—
Short	Gate W_USDT	0.01179	0.0100	get 0.0050% / 4h	2h 25m	$447K	$301K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against BingX. 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 BingXbpFee GatebpOrdersPrice spread, now +0.340%Rate

Funding earned: $0
Price spread: +0.340% → −0.037%: $37.74
Slippage, 4 orders: −$547.89
Fee BingX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$535.15
Costs to cover: 5.729%
Break-even: never at this rate

Slippage from BingX: live order book, 8 min ago; Gate: live order book, 60 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 BingX live order book, 8 min ago	2.56 bp	22.6 bp −$23	56.9 bp −$569	668.9 bp −$66.9K	1141.4 bp −$570.7K
Sell Gate live order book, 60 min ago	8.09 bp	323.2 bp −$323	doesn't fit	doesn't fit	doesn't fit

W on 17 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
Deribit W_USDC-PERPETUAL	−0.0429%	1h	0.01177	+0.094%	$17K	$1K	10x	as long as short
OKX W-USDT-SWAP	+0.0020%	4h	0.01176	+0.051%	$1.3M	$2.1M	20x	as long as short
Injective W/USDC PERP	+0.0033%	1h	0.01209	+2.850%	$1K	$1K	12x	as long as short
Hyperliquid W	+0.0100%	1h	0.01176	+0.043%	$2.0M	$461K	5x	as long as short
Binance WUSDT	+0.0100%	4h	0.01176	+0.051%	$3.0M	$7.6M	50x	as long as short
Bybit WUSDT	+0.0100%	4h	0.01175	−0.077%	$4.1M	$2.0M	50x	as long as short
Gate W_USDTshort	+0.0100%	4h	0.01179	+0.340%	$447K	$301K	75x
MEXC W_USDT	+0.0100%	4h	0.01176	+0.051%	$12.9M	$1.7M	50x	as long as short
KuCoin WUSDTM	+0.0100%	4h	0.01174	−0.128%	$416K	$217K	50x	as long as short
Bitget WUSDT	+0.0100%	4h	0.01176	+0.043%	$1.3M	$573K	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX W-USDTlong	+0.0100%	4h	0.01175	long leg	—	$6.9M	—
Backpack W_USDC_PERP	+0.0100%	1h	0.01176	+0.060%	$44K	$47K	15x	as long as short
Variational Omni W	+0.0100%	4h	0.01173	−0.237%	$70K	$42K	—	as long as short
GRVT W_USDT_Perp	+0.0100%	4h	0.01173	−0.199%	$123K	$409K	10x	as long as short
Extended W-USD	+0.0104%	1h	0.01176	+0.039%	$59K	$276K	5x	as long as short
Coinbase International W-PERP-INTX	+0.0296%	1h	0.01176	+0.077%	$14K	$18K	50x	as long as short
Kraken Futures PF_WUSD	+0.0618%	1h	0.01179	+0.268%	$146K	$185K	20x	as long as short