Funding arb · Price arb /

W

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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: Binance against Gate−0.387%7-day average +0.089% · you buy dearer than you sell

Net, funding: paid 7d − costs−$442as in the Funding arb table

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

costs, in and out, $10k−$4404.404% of the position

Long on Gate Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.014%−$1 on $10k

Price spread, last 4 days (all we have)+0.530%+$53 · spread now −0.387%, 7d avg +0.089%

Together, before fees+0.516%+$52 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 0.476% cheaper against Gate than usual: you would sell low and buy high, −$48 on $10k if it goes back to its 7-day average of +0.089%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate W_USDT	0.01189	0.0100	pay 0.0050% / 4h	48m 27s	$448K	$290K	75x
Short	Binance WUSDT	0.01184	0.0100	get 0.0050% / 4h	48m 27s	$3.0M	$6.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −0.387%Rate

Funding earned: $0
Price spread: −0.387% → +0.089%: −$47.6
Slippage, 4 orders: −$415.42
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Binance: 5 bp × 2 orders: −$10
Net: −$488.02
Costs to cover: 4.404%
Break-even: never at this rate

Slippage from Gate: live order book, 27 min ago; Binance: live order book, 5 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, 27 min ago	8.07 bp	191.8 bp −$192	23952.3 bp −$239.5K	doesn't fit	doesn't fit
Sell Binance live order book, 5 min ago	0.85 bp	21.5 bp −$22	81.2 bp −$812	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
OKX W-USDT-SWAP	−0.0036%	4h	0.01183	−0.471%	$1.3M	$2.0M	20x	as long as short
Deribit W_USDC-PERPETUAL	−0.0003%	1h	0.01184	−0.429%	$17K	$1K	10x	as long as short
Injective W/USDC PERP	+0.0033%	1h	0.01209	+1.682%	$1K	$1K	12x	as long as short
Hyperliquid W	+0.0100%	1h	0.01185	−0.336%	$2.0M	$423K	5x	as long as short
Binance WUSDTshort	+0.0100%	4h	0.01184	−0.387%	$3.0M	$6.8M	50x
Bybit WUSDT	+0.0100%	4h	0.01183	−0.547%	$4.1M	$1.9M	50x	as long as short
Gate W_USDTlong	+0.0100%	4h	0.01189	long leg	$448K	$290K	75x
MEXC W_USDT	+0.0100%	4h	0.01184	−0.404%	$12.9M	$1.4M	50x	as long as short
KuCoin WUSDTM	+0.0100%	4h	0.01186	−0.252%	$459K	$211K	50x	as long as short
Bitget WUSDT	+0.0100%	4h	0.01184	−0.421%	$1.3M	$572K	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-USDT	+0.0100%	4h	0.01184	−0.429%	—	$6.9M	—	as long as short
Variational Omni W	+0.0100%	4h	0.01180	−0.727%	$71K	$42K	—	as long as short
GRVT W_USDT_Perp	+0.0100%	4h	0.01183	−0.535%	$130K	$385K	10x	as long as short
Extended W-USD	+0.0104%	1h	0.01184	−0.437%	$59K	$228K	5x	as long as short
Coinbase International W-PERP-INTX	+0.0248%	1h	0.01186	−0.235%	$14K	$16K	50x	as long as short
Kraken Futures PF_WUSD	+0.0716%	1h	0.01187	−0.209%	$147K	$181K	20x	as long as short
Backpack W_USDC_PERP	+0.1091%	1h	0.01185	−0.320%	$44K	$47K	15x	as long as short