Funding arb · Price arb /

COIN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0274%/8h= +30.0% APRpaid last 24h −0.042%

Price spread now: Polymarket Perps against Gate−0.041%7-day average −0.064% · you buy dearer than you sell

Net, funding: paid 7d − costs−$48as in the Funding arb table

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$430.426% of the position

Long on Gate Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.058%−$6 on $10k

Price spread, last 7 days+0.091%+$9 · spread now −0.041%, 7d avg −0.064%

Together, before fees+0.032%+$3 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Polymarket Perps is 0.024% dearer against Gate than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of −0.064%. Mind the row above: over the last 7 days funding on this pair cost −0.058%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.058% in total (about -3.0% 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 COIN_USDT	196.75	−0.0224	get 0.0224% / 8h	3h 15m	$1.2M	$7.3M	50x
Short	Polymarket Perps COIN-USD	196.67	0.0050	get 0.0006% / 1h	15m 30s	$133K	$1.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now −0.041%Rate

Funding earned: $57.54
Price spread: −0.041% → −0.064%: $2.35
Slippage, 4 orders: −$19.56
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: $17.33
Costs to cover: 0.426%
Break-even: 4.9 days

Slippage from Gate: live order book, 3 min ago; Polymarket Perps: live order book, 3 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, 3 min ago	6.10 bp	14.7 bp −$15	109.3 bp −$1,093	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 3 min ago	2.29 bp	6.8 bp −$7	7.7 bp −$77	10.0 bp −$1,004	doesn't fit

COIN on 26 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
Bitget COINUSDT	−0.0724%	8h	196.85	+0.051%	$6.3M	$10.5M	20x	as long as short
Injective COIN/USDC PERP	−0.0440%	1h	196.76	+0.005%	$43K	$48K	30x	as long as short
Gate COIN_USDTlong	−0.0224%	8h	196.75	long leg	$1.2M	$7.3M	50x
Vest COIN-USD-PERP	−0.0108%	1h	196.20	−0.280%	—	$262K	25x	as long as short
Aster COINUSDT	0.0000%	8h	196.68	−0.035%	$343K	$890K	20x	as long as short
Extended COIN_24_5-USD	0.0000%	1h	196.68	−0.035%	$116K	$720K	10x	as long as short
Binance COINUSDT	0.0000%	8h	196.78	+0.017%	$14.7M	$80.4M	20x	as long as short
Bybit COINUSDT	0.0000%	8h	196.72	−0.015%	$4.8M	$6.1M	50x	as long as short
OKX COIN-USDT-SWAP	0.0000%	8h	196.75	0.000%	$3.0M	$4.7M	20x	as long as short
Variational Omni COIN	0.0000%	8h	196.64	−0.056%	$684K	$939K	—	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT COIN_USDT_Perp	0.0000%	8h	196.78	+0.015%	$11K	$2.5M	10x	as long as short
QFEX COIN-USD	+0.0020%	1h	196.77	+0.010%	$1.3M	$3.2M	10x	as long as short
Lighter RH COIN	+0.0032%	1h	196.63	−0.061%	$455K	$1.5M	10x	as long as short
Arcus COIN-USD	+0.0040%	1h	196.78	+0.015%	$15K	$55K	5x	as long as short
tradeXYZ xyz:COIN	+0.0050%	1h	196.65	−0.051%	$15.3M	$13.7M	10x	as long as short
Polymarket Perps COIN-USDshort	+0.0050%	1h	196.67	−0.041%	$133K	$1.2M	10x
SoDEX COIN-USD	+0.0050%	1h	196.62	−0.066%	$91	$3K	10x	as long as short
Ondo Perps COIN-USD.P	+0.0050%	1h	196.48	−0.137%	$350K	$2.7M	10x	as long as short
Lighter COIN	+0.0064%	1h	196.67	−0.041%	$385K	$2.1M	10x	as long as short
KuCoin COINUSDTM	+0.0100%	8h	196.67	−0.041%	$991K	$143K	20x	as long as short
ApeX Omni COINUSDT	+0.0100%	1h	196.69	−0.030%	$88K	$287K	50x	as long as short
Orderly PERP_COIN_USDC_mythos	+0.0100%	8h	196.72	−0.015%	$569	$4K	10x	as long as short
Aevo COIN-PERP	+0.0104%	1h	196.61	−0.072%	$116	—	10x	as long as short
BloFin COIN-USDT	+0.0120%	8h	196.86	+0.056%	$188K	$394K	20x	as long as short
Phoenix COIN	+0.0122%	1h	196.61	−0.071%	$4K	$283K	10x	as long as short
edgeX COINUSDC	+0.0778%	4h	196.79	+0.019%	$51K	$296K	10x	as long as short