Funding arb · Price arb /

ALGO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0101%/8h= +11.1% APRpaid last 24h +0.005%

Price spread now: Bybit against gTrade (Gains Network)−0.136%7-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 Bybit

What this pair did over the last

the charts below follow

Funding, last 4 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. Bybit is 0.136% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.136% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$14 on $10k: about 4.5 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) ALGO/USD	0.1116	L −0.0001% / S +0.0003%	get 0.0000% / 1h	41m 37s	$16K	—	150x
Short	Bybit ALGOUSDT	0.1115	0.0100	get 0.0100% / 8h	7h 41m	$11.2M	$13.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.136%Rate

Funding earned: $21.19
Price spread: −0.136% → 0.000%: −$13.62
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$13.43
Costs to cover: 0.210%
Break-even: 11.4 days

Slippage unknown: gTrade (Gains Network): no order-book sample; Bybit: live order book, 2 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 Bybit live order book, 2 min ago	0.90 bp	11.0 bp −$11	36.1 bp −$361	doesn't fit	doesn't fit

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	−0.1003%	1h	0.1116	−0.002%	$88K	$46K	25x	as long as short
Kraken Futures PF_ALGOUSD	−0.0025%	1h	0.1117	+0.044%	$829K	$1.1M	50x	as long as short
gTrade (Gains Network) ALGO/USDlong	L −0.0001% / S +0.0003%	1h	0.1116	long leg	$16K	—	150x
Injective ALGO/USDC PERP	+0.0033%	1h	0.1120	+0.339%	$834	$233K	12x	as long as short
Hyperliquid ALGO	+0.0100%	1h	0.1116	+0.019%	$3.4M	$2.3M	5x	as long as short
Aster ALGOUSDT	+0.0100%	8h	0.1117	+0.054%	$44K	$37K	5x	as long as short
Binance ALGOUSDT	+0.0100%	8h	0.1115	−0.118%	$9.5M	$34.5M	75x	as long as short
Bybit ALGOUSDTshort	+0.0100%	8h	0.1115	−0.136%	$11.2M	$13.0M	75x
OKX ALGO-USDT-SWAP	+0.0100%	8h	0.1115	−0.091%	$2.7M	$7.8M	50x	as long as short
Gate ALGO_USDT	+0.0100%	8h	0.1116	−0.011%	$840K	$918K	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	0.1115	−0.127%	$23.5M	$3.2M	200x	as long as short
KuCoin ALGOUSDTM	+0.0100%	8h	0.1116	−0.029%	$3.4M	$1.4M	50x	as long as short
Bitget ALGOUSDT	+0.0100%	8h	0.1115	−0.109%	$5.5M	$3.5M	75x	as long as short
BingX ALGO-USDT	+0.0100%	8h	0.1115	−0.073%	—	$3.4M	—	as long as short
Variational Omni ALGO	+0.0100%	8h	0.1114	−0.180%	$61K	$12K	—	as long as short
HTX ALGO-USDT	+0.0100%	8h	0.1116	−0.038%	$58K	$137K	75x	as long as short
Phemex ALGOUSDT	+0.0100%	8h	0.1118	+0.159%	$3.8M	$1.8M	50x	as long as short
Extended ALGO-USD	+0.0104%	1h	0.1115	−0.145%	$7K	$198K	10x	as long as short
Coinbase International ALGO-PERP-INTX	+0.0144%	1h	0.1119	+0.285%	$63K	$195K	50x	as long as short
BloFin ALGO-USDT	+0.0220%	8h	0.1115	−0.091%	$477K	$836K	75x	as long as short
GMX ALGO/USD [WBTC.b-USDC]	L +0.0323% / S −0.0272%	1h	0.1117	+0.040%	$6K	—	100x	as long as short
dYdX ALGO-USD	+0.1157%	1h	0.1116	−0.037%	$161K	$5K	5x	as long as short