Funding arb · Price arb /

BX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0385%/8h= −42.1% APRpaid last 24h −0.001%

Price spread now: tradeXYZ against Gate−0.134%7-day average −0.098% · you buy dearer than you sell

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

Long on Gate Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days−0.043%−$4 on $10k

Price spread, last 4 days (all we have)−0.019%−$2 · spread now −0.134%, 7d avg −0.098%

Together, before fees−0.063%+ Points / potential airdroptradeXYZ: Active · farm board−$6 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$12 a day on $10k at the current rate, and tradeXYZ is 0.036% cheaper against Gate than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.098%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.043% in total (about -2.3% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate BX_USDT	126.45	0	get 0.0000% / 8h	4h 07m	$423K	$28K	20x
Short	tradeXYZ xyz:BX	126.28	−0.0385	pay 0.0048% / 1h	7m 55s	$664K	$214K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.134%Rate

Funding earned: −$80.77
Price spread: −0.134% → −0.098%: −$3.6
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$117.37
Costs to cover: 0.330%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 48 min ago; tradeXYZ: live order book, 19 min ago. 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, 48 min ago	11.88 bp	35.8 bp −$36	doesn't fit	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 19 min ago	2.77 bp	28.3 bp −$28	doesn't fit	doesn't fit	doesn't fit

BX on 14 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
tradeXYZ xyz:BXshort	−0.0385%	1h	126.28	−0.134%	$664K	$214K	10x
Aster BXUSDT	0.0000%	8h	126.04	−0.324%	$5K	$2K	20x	as long as short
Bybit BXUSDT	0.0000%	8h	126.34	−0.087%	$484K	$836K	25x	as long as short
OKX BX-USDT-SWAP	0.0000%	8h	126.24	−0.166%	$163K	$112K	20x	as long as short
QFEX BX-USD	0.0000%	1h	127.01	+0.443%	$1.1M	$1.5M	10x	as long as short
Gate BX_USDTlong	0.0000%	8h	126.45	long leg	$423K	$28K	20x
Bitget BXUSDT	0.0000%	8h	126.42	−0.024%	$900K	$37K	20x	as long as short
GRVT BX_USDT_Perp	0.0000%	8h	126.31	−0.109%	$825	$110K	10x	as long as short
SunX BX-USDT	0.0000%	8h	126.34	−0.087%	$1K	$317K	10x	as long as short
HTX BX-USDT	0.0000%	8h	126.58	+0.103%	$7K	$3K	20x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin BXUSDTM	+0.0100%	8h	126.14	−0.245%	$115K	$929K	20x	as long as short
Injective BX/USDC PERP	+0.0220%	1h	137.37	+8.636%	$4K	$32K	12x	as long as short
Variational Omni BX	+0.0363%	8h	126.29	−0.125%	$43K	$12K	—	as long as short
Binance BXUSDT	+0.0527%	8h	126.34	−0.087%	$779K	$491K	20x	as long as short