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: Bitget against Gate+0.196%7-day average +0.070% · you sell dearer than you buy

Net, funding: paid 7d − costs−$730as in the Funding arb table

Net, price: spread back to 7d avg − costs−$723as in the Price arb table

costs, in and out, $10k−$7357.355% of the position

Long on Gate Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.057%+$6 on $10k

Price spread, last 4 days (all we have)−0.303%−$30 · spread now +0.196%, 7d avg +0.070%

Together, before fees−0.247%−$25 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: Bitget is 0.126% dearer against Gate than usual: you sell high and buy low, +$13 on $10k if it goes back to its 7-day average of +0.070%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate W_USDT	0.01176	0.0100	pay 0.0050% / 4h	1h 35m	$446K	$291K	75x
Short	Bitget WUSDT	0.01178	0.0100	get 0.0050% / 4h	1h 35m	$1.3M	$577K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.196%Rate

Funding earned: $0
Price spread: +0.196% → +0.070%: $12.6
Slippage, 4 orders: −$708.5
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$722.9
Costs to cover: 7.355%
Break-even: never at this rate

Slippage from Gate: live order book, 45 min ago; Bitget: live order book, 1 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, 45 min ago	8.94 bp	275.2 bp −$275	29633.8 bp −$296.3K	doesn't fit	doesn't fit
Sell Bitget live order book, 1 min ago	4.26 bp	24.9 bp −$25	74.7 bp −$747	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	−0.0428%	1h	0.01179	+0.238%	$17K	$1K	10x	as long as short
OKX W-USDT-SWAP	−0.0036%	4h	0.01178	+0.213%	$1.3M	$2.1M	20x	as long as short
Injective W/USDC PERP	+0.0033%	1h	0.01209	+2.832%	$1K	$1K	12x	as long as short
Hyperliquid W	+0.0100%	1h	0.01179	+0.281%	$2.0M	$433K	5x	as long as short
Binance WUSDT	+0.0100%	4h	0.01178	+0.204%	$3.0M	$7.0M	50x	as long as short
Bybit WUSDT	+0.0100%	4h	0.01175	−0.017%	$4.1M	$2.0M	50x	as long as short
Gate W_USDTlong	+0.0100%	4h	0.01176	long leg	$446K	$291K	75x
MEXC W_USDT	+0.0100%	4h	0.01178	+0.187%	$12.8M	$1.4M	50x	as long as short
KuCoin WUSDTM	+0.0100%	4h	0.01177	+0.111%	$482K	$246K	50x	as long as short
Bitget WUSDTshort	+0.0100%	4h	0.01178	+0.196%	$1.3M	$577K	50x

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX W-USDT	+0.0100%	4h	0.01178	+0.153%	—	$6.9M	—	as long as short
Variational Omni W	+0.0100%	4h	0.01175	−0.101%	$71K	$42K	—	as long as short
GRVT W_USDT_Perp	+0.0100%	4h	0.01177	+0.109%	$129K	$419K	10x	as long as short
Extended W-USD	+0.0104%	1h	0.01178	+0.187%	$59K	$276K	5x	as long as short
Coinbase International W-PERP-INTX	+0.0240%	1h	0.01180	+0.408%	$14K	$18K	50x	as long as short
Backpack W_USDC_PERP	+0.0324%	1h	0.01179	+0.298%	$44K	$47K	15x	as long as short
Kraken Futures PF_WUSD	+0.0397%	1h	0.01180	+0.406%	$146K	$185K	20x	as long as short