Funding arb · Price arb /

ALGO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0101%/8h= +11.1% APRpaid last 24h +0.030%

Price spread now: BingX against gTrade (Gains Network)−0.108%46s7-day average — · you buy dearer than you sell

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

Long on gTrade (Gains Network)Short on BingX

What this pair did over the last

the charts below follow

Funding, last 3 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

Funding pays, the price is against you. BingX is 0.108% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.108% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$11 on $10k: about 3.6 days of funding at the current rate (+$3 a day). The two prices were read 46 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	gTrade (Gains Network) ALGO/USD	0.1112	L −0.0001% / S +0.0003%	get 0.0000% / 1h	35m 40s	$16K	—	150x
Short	BingX ALGO-USDT	0.1111	0.0100	get 0.0100% / 8h	35m 40s	—	$3.4M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee BingXbpOrdersPrice spread, now −0.108%Rate

Funding earned: $21.19
Price spread: −0.108% → 0.000%: −$10.79
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$9.6
Costs to cover: 0.200%
Break-even: 10.2 days

Slippage unknown: gTrade (Gains Network): no order-book sample; BingX: live order book, 14 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell BingX live order book, 14 min ago	0.90 bp	12.0 bp −$12	33.5 bp −$335	170.3 bp −$17.0K	702.8 bp −$351.4K

gTrade (Gains Network): 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.

ALGO on 22 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 ALGO_USDC-PERPETUAL	−0.0380%	1h	0.1111	−0.063%	$88K	$46K	25x	as long as short
Kraken Futures PF_ALGOUSD	−0.0265%	1h	0.1112	−0.005%	$829K	$1.1M	50x	as long as short
gTrade (Gains Network) ALGO/USDlong	L −0.0001% / S +0.0003%	1h	0.1112	long leg	$16K	—	150x
Injective ALGO/USDC PERP	+0.0033%	1h	0.1120	+0.738%	$834	$233K	12x	as long as short
Hyperliquid ALGO	+0.0100%	1h	0.1113	+0.099%	$3.4M	$2.3M	5x	as long as short
Aster ALGOUSDT	+0.0100%	8h	0.1112	+0.013%	$44K	$37K	5x	as long as short
Binance ALGOUSDT	+0.0100%	8h	0.1111	−0.084%	$9.5M	$34.4M	75x	as long as short
Bybit ALGOUSDT	+0.0100%	8h	0.1111	−0.108%	$11.3M	$13.0M	75x	as long as short
OKX ALGO-USDT-SWAP	+0.0100%	8h	0.1110	−0.126%	$2.7M	$7.8M	50x	as long as short
Gate ALGO_USDT	+0.0100%	8h	0.1110	−0.117%	$836K	$950K	50x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC ALGO_USDT	+0.0100%	8h	0.1111	−0.045%	$23.4M	$3.2M	200x	as long as short
KuCoin ALGOUSDTM	+0.0100%	8h	0.1111	−0.090%	$3.5M	$1.4M	50x	as long as short
Bitget ALGOUSDT	+0.0100%	8h	0.1111	−0.072%	$5.5M	$3.5M	75x	as long as short
BingX ALGO-USDTshort	+0.0100%	8h	0.1111	−0.108%	—	$3.4M	—
Variational Omni ALGO	+0.0100%	8h	0.1110	−0.177%	$61K	$12K	—	as long as short
HTX ALGO-USDT	+0.0100%	8h	0.1111	−0.063%	$58K	$137K	75x	as long as short
Phemex ALGOUSDT	+0.0100%	8h	0.1114	+0.198%	$3.8M	$1.8M	50x	as long as short
Extended ALGO-USD	+0.0104%	1h	0.1111	−0.113%	$5K	$193K	10x	as long as short
Coinbase International ALGO-PERP-INTX	+0.0144%	1h	0.1117	+0.495%	$63K	$194K	50x	as long as short
BloFin ALGO-USDT	+0.0220%	8h	0.1111	−0.072%	$471K	$875K	75x	as long as short
GMX ALGO/USD [WBTC.b-USDC]	L +0.0319% / S −0.0264%	1h	0.1112	−0.013%	$6K	—	100x	as long as short
dYdX ALGO-USD	+0.0972%	1h	0.1113	+0.088%	$160K	$5K	5x	as long as short