Funding arb · Price arb /

BE

RWAall BE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0136%/8h= +14.9% APRpaid last 24h −0.011%

Price spread now: Coinbase International against Gate−0.151%7-day average −0.230% · you buy dearer than you sell

Net, funding: paid 7d − costs−$51as in the Funding arb table

Net, price: spread back to 7d avg − costs−$57as in the Price arb table

costs, in and out, $10k−$640.645% of the position

Long on Gate Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.137%+$14 on $10k

Price spread, last 4 days (all we have)+0.134%+$13 · spread now −0.151%, 7d avg −0.230%

Together, before fees+0.271%+$27 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Coinbase International is 0.079% dearer against Gate than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of −0.230%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate BE_USDT	271.00	−0.0080	get 0.0080% / 8h	1h 46m	$1.4M	$3.3M	50x
Short	Coinbase International BE-PERP-INTX	270.59	0.0056	get 0.0007% / 1h	46m 03s	$473K	$130K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.151%Rate

Funding earned: $28.56
Price spread: −0.151% → −0.230%: $7.85
Slippage, 4 orders: −$39.48
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$28.07
Costs to cover: 0.645%
Break-even: 13.9 days

Slippage from Gate: live order book, 2 min ago; Coinbase International: live order book, 62 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, 2 min ago	1.84 bp	14.7 bp −$15	41.3 bp −$413	79.3 bp −$7,932	doesn't fit
Sell Coinbase International live order book, 62 min ago	7.53 bp	12.5 bp −$13	17.3 bp −$173	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_USDTlong	−0.0080%	8h	271.00	long leg	$1.4M	$3.3M	50x
Bitget BEUSDT	−0.0055%	8h	271.12	+0.044%	$1.6M	$2.6M	20x	as long as short
Aster BEUSDT	0.0000%	8h	271.62	+0.230%	$342K	$122K	20x	as long as short
Extended BE-USD	0.0000%	1h	271.00	0.000%	$46K	$257K	10x	as long as short
Binance BEUSDT	0.0000%	8h	271.05	+0.020%	$8.2M	$37.2M	25x	as long as short
OKX BE-USDT-SWAP	0.0000%	8h	271.15	+0.055%	$2.6M	$6.8M	25x	as long as short
GRVT BE_USDT_Perp	0.0000%	8h	271.51	+0.187%	$7K	$157K	10x	as long as short
SunX BE-USDT	0.0000%	8h	271.48	+0.177%	$1K	$2.3M	10x	as long as short
HTX BE-USDT	0.0000%	8h	271.16	+0.059%	$12K	$35K	20x	as long as short
Deribit BE_USDC-PERPETUAL	+0.0008%	1h	271.09	+0.033%	$6K	$4K	10x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter BE	+0.0032%	1h	270.97	−0.011%	—	—	10x	as long as short
Lighter RH BE	+0.0032%	1h	271.01	+0.004%	$241K	$297K	10x	as long as short
QFEX BE-USD	+0.0040%	1h	271.18	+0.066%	$1.3M	$2.4M	10x	as long as short
Arcus BE-USD	+0.0040%	1h	271.24	+0.089%	$113K	$109K	10x	as long as short
Vest BE-USD-PERP	+0.0046%	1h	271.12	+0.044%	—	—	10x	as long as short
Bybit BEUSDT	+0.0051%	8h	271.10	+0.037%	$2.0M	$1.1M	25x	as long as short
Coinbase International BE-PERP-INTXshort	+0.0056%	1h	270.59	−0.151%	$473K	$130K	10x
tradeXYZ xyz:BE	+0.0098%	1h	271.07	+0.026%	$5.9M	$2.8M	10x	as long as short
KuCoin BEUSDTM	+0.0100%	8h	271.04	+0.015%	$366K	$18K	20x	as long as short
Aevo BE-PERP	+0.0104%	1h	271.06	+0.021%	—	—	10x	as long as short
BloFin BE-USDT	+0.0120%	8h	271.40	+0.148%	$45K	$146K	20x	as long as short