Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0104%/8h= −11.4% APRpaid last 24h −0.146%

Price spread now: Deribit against Gate+0.382%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Gate Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Deribit is 0.382% dearer against Gate than usual: you sell high and buy low (spread +0.382% now, against zero (this spread has no 7-day history yet)): +$38 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 12 days.

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	3h 46m	$429K	$217K	75x
Short	Deribit W_USDC-PERPETUAL	0.01181	−0.0004	pay 0.0000% / 1h	46m 53s	$14K	$4K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.382%Rate

Funding earned: −$21.83
Price spread: +0.382% → 0.000%: $38.25
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$5.58
Costs to cover: 0.220%
Break-even: from the start

Slippage unknown: Gate: live order book, 49 min ago; Deribit: no order-book sample. Net counts fees only.

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, 49 min ago	9.39 bp	185.6 bp −$186	5397.2 bp −$54.0K	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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-PERPETUALshort	−0.0004%	1h	0.01181	+0.382%	$14K	$4K	10x
Injective W/USDC PERP	+0.0033%	1h	0.01209	+2.762%	$1K	$1K	12x	as long as short
Hyperliquid W	+0.0100%	1h	0.01182	+0.467%	$2.0M	$271K	5x	as long as short
Binance WUSDT	+0.0100%	4h	0.01181	+0.382%	$3.0M	$5.0M	50x	as long as short
Bybit WUSDT	+0.0100%	4h	0.01179	+0.187%	$4.1M	$1.5M	50x	as long as short
OKX W-USDT-SWAP	+0.0100%	4h	0.01181	+0.357%	$1.3M	$1.5M	20x	as long as short
Gate W_USDTlong	+0.0100%	4h	0.01176	long leg	$429K	$217K	75x
MEXC W_USDT	+0.0100%	4h	0.01181	+0.382%	$12.4M	$1.3M	50x	as long as short
KuCoin WUSDTM	+0.0100%	4h	0.01179	+0.212%	$388K	$190K	50x	as long as short
Bitget WUSDT	+0.0100%	4h	0.01181	+0.382%	$1.3M	$539K	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	0.01180	+0.331%	—	$6.7M	—	as long as short
Variational Omni W	+0.0100%	4h	0.01177	+0.081%	$71K	$41K	—	as long as short
GRVT W_USDT_Perp	+0.0100%	4h	0.01178	+0.127%	$126K	$374K	10x	as long as short
Extended W-USD	+0.0104%	1h	0.01181	+0.390%	$59K	$388K	5x	as long as short
Coinbase International W-PERP-INTX	+0.0384%	1h	0.01183	+0.510%	$13K	$13K	50x	as long as short
Backpack W_USDC_PERP	+0.0700%	1h	0.01183	+0.527%	$47K	$52K	15x	as long as short
Kraken Futures PF_WUSD	+0.0894%	1h	0.01183	+0.565%	$147K	$49K	20x	as long as short