Funding arb · Price arb /

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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: BingX against Gate+0.103%7-day average +0.045% · you sell dearer than you buy

Net, funding: paid 7d − costs−$618as in the Funding arb table

Net, price: spread back to 7d avg − costs−$617as in the Price arb table

costs, in and out, $10k−$6236.229% of the position

Long on Gate Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.053%+$5 on $10k

Price spread, last 4 days (all we have)−0.188%−$19 · spread now +0.103%, 7d avg +0.045%

Together, before fees−0.136%−$14 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: BingX is 0.058% dearer against Gate than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of +0.045%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate W_USDT	0.01168	0.0100	pay 0.0050% / 4h	3h 02m	$428K	$260K	75x
Short	BingX W-USDT	0.01169	0.0100	get 0.0050% / 4h	3h 02m	—	$6.7M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now +0.103%Rate

Funding earned: $0
Price spread: +0.103% → +0.045%: $5.81
Slippage, 4 orders: −$597.89
Fee Gate: 7.5 bp × 2 orders: −$15
Fee BingX: 5 bp × 2 orders: −$10
Net: −$617.08
Costs to cover: 6.229%
Break-even: never at this rate

Slippage from Gate: live order book, 48 min ago; BingX: 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, 48 min ago	10.12 bp	375.2 bp −$375	24954.3 bp −$249.5K	doesn't fit	doesn't fit
Sell BingX live order book, 5 min ago	3.83 bp	30.8 bp −$31	64.7 bp −$647	406.8 bp −$40.7K	1012.5 bp −$506.3K

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	0.0000%	1h	0.01170	+0.205%	$14K	$3K	10x	as long as short
Injective W/USDC PERP	+0.0033%	1h	0.01209	+3.510%	$1K	$1K	12x	as long as short
Hyperliquid W	+0.0100%	1h	0.01171	+0.257%	$2.0M	$304K	5x	as long as short
Binance WUSDT	+0.0100%	4h	0.01170	+0.190%	$2.9M	$5.6M	50x	as long as short
Bybit WUSDT	+0.0100%	4h	0.01169	+0.060%	$4.1M	$1.6M	50x	as long as short
OKX W-USDT-SWAP	+0.0100%	4h	0.01169	+0.120%	$1.3M	$1.6M	20x	as long as short
Gate W_USDTlong	+0.0100%	4h	0.01168	long leg	$428K	$260K	75x
MEXC W_USDT	+0.0100%	4h	0.01170	+0.188%	$12.5M	$1.4M	50x	as long as short
KuCoin WUSDTM	+0.0100%	4h	0.01168	0.000%	$382K	$197K	50x	as long as short
Bitget WUSDT	+0.0100%	4h	0.01170	+0.171%	$1.3M	$548K	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-USDTshort	+0.0100%	4h	0.01169	+0.103%	—	$6.7M	—
Variational Omni W	+0.0100%	4h	0.01173	+0.432%	$71K	$39K	—	as long as short
GRVT W_USDT_Perp	+0.0100%	4h	0.01174	+0.514%	$126K	$386K	10x	as long as short
Extended W-USD	+0.0104%	1h	0.01170	+0.146%	$60K	$151K	5x	as long as short
Coinbase International W-PERP-INTX	+0.0440%	1h	0.01170	+0.188%	$14K	$14K	50x	as long as short
Backpack W_USDC_PERP	+0.1157%	1h	0.01172	+0.317%	$43K	$42K	15x	as long as short
Kraken Futures PF_WUSD	+0.1785%	1h	0.01173	+0.423%	$145K	$185K	20x	as long as short