Funding arb · Price arb /

BE

RWAall BE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0088%/8h= +9.6% APRpaid last 24h +0.030%

Price spread now: Coinbase International against Bitget−0.196%47s7-day average −0.264% · you buy dearer than you sell

Net, funding: paid 7d − costs−$41as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$600.595% of the position

Long on Bitget Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.184%+$18 on $10k

Price spread, last 4 days (all we have)+0.139%+$14 · spread now −0.196%, 7d avg −0.264%

Together, before fees+0.323%+$32 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Coinbase International is 0.069% dearer against Bitget than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of −0.264%. The two prices were read 47 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget BEUSDT	270.93	−0.0056	get 0.0056% / 8h	15m 24s	$1.6M	$2.6M	20x
Short	Coinbase International BE-PERP-INTX	270.40	0.0032	get 0.0004% / 1h	15m 24s	$472K	$114K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Bitget. 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 BitgetbpFee Coinbase InternationalbpOrdersPrice spread, now −0.196%Rate

Funding earned: $18.48
Price spread: −0.196% → −0.264%: $6.87
Slippage, 4 orders: −$37.51
Fee Bitget: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$34.16
Costs to cover: 0.595%
Break-even: 19.9 days

Slippage from Bitget: live order book, 2 min ago; Coinbase International: live order book, 23 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 Bitget live order book, 2 min ago	2.95 bp	19.1 bp −$19	44.1 bp −$441	doesn't fit	doesn't fit
Sell Coinbase International live order book, 23 min ago	5.90 bp	11.3 bp −$11	18.6 bp −$186	doesn't fit	doesn't fit

BE on 21 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
Gate BE_USDT	−0.0484%	8h	270.70	−0.085%	$1.4M	$3.3M	50x	as long as short
Bitget BEUSDTlong	−0.0056%	8h	270.93	long leg	$1.6M	$2.6M	20x
Aster BEUSDT	0.0000%	8h	270.67	−0.095%	$342K	$128K	20x	as long as short
Extended BE-USD	0.0000%	1h	270.85	−0.028%	$47K	$384K	10x	as long as short
Binance BEUSDT	0.0000%	8h	270.78	−0.055%	$8.1M	$37.2M	25x	as long as short
OKX BE-USDT-SWAP	0.0000%	8h	270.90	−0.011%	$2.6M	$6.9M	25x	as long as short
GRVT BE_USDT_Perp	0.0000%	8h	271.01	+0.030%	$7K	$155K	10x	as long as short
SunX BE-USDT	0.0000%	8h	270.93	0.000%	$1K	$2.2M	10x	as long as short
Deribit BE_USDC-PERPETUAL	0.0000%	1h	270.93	0.000%	$6K	$4K	10x	as long as short
HTX BE-USDT	0.0000%	8h	270.88	−0.018%	$13K	$35K	20x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX BE-USD	+0.0017%	1h	270.95	+0.007%	$1.3M	$2.3M	10x	as long as short
Lighter BE	+0.0032%	1h	270.91	−0.007%	—	—	10x	as long as short
Lighter RH BE	+0.0032%	1h	270.91	−0.007%	$241K	$305K	10x	as long as short
Coinbase International BE-PERP-INTXshort	+0.0032%	1h	270.40	−0.196%	$472K	$114K	10x
Arcus BE-USD	+0.0040%	1h	270.72	−0.078%	$113K	$96K	10x	as long as short
Vest BE-USD-PERP	+0.0046%	1h	270.76	−0.063%	—	—	10x	as long as short
Bybit BEUSDT	+0.0047%	8h	270.93	0.000%	$2.0M	$1.1M	25x	as long as short
tradeXYZ xyz:BE	+0.0050%	1h	270.78	−0.055%	$5.9M	$2.8M	10x	as long as short
KuCoin BEUSDTM	+0.0100%	8h	270.82	−0.041%	$352K	$29K	20x	as long as short
Aevo BE-PERP	+0.0104%	1h	270.83	−0.037%	—	—	10x	as long as short
BloFin BE-USDT	+0.0120%	8h	271.03	+0.037%	$46K	$145K	20x	as long as short