Funding arb · Price arb /

ALT

all ALT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0316%/8h= −34.6% APRpaid last 24h −0.099%

Price spread now: Bitget against Coinbase International−0.252%47s7-day average — · you buy dearer than you sell

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

Long on Coinbase International Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 5 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

Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and Bitget is 0.252% cheaper against Coinbase International than usual: you would sell low and buy high (−$25 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 47 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	Coinbase International ALT-PERP-INTX	0.007548	0.0416	pay 0.0052% / 1h	50m 32s	$14K	$3K	50x
Short	Bitget ALTUSDT	0.007529	0.0100	get 0.0050% / 4h	50m 32s	$619K	$100K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Coinbase International. 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 Coinbase InternationalbpFee BitgetbpOrdersPrice spread, now −0.252%Rate

Funding earned: −$66.36
Price spread: −0.252% → 0.000%: −$25.17
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$113.53
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Coinbase International: no order-book sample; Bitget: live order book, 25 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 Coinbase International no order-book sample	—	—	—	—	—
Sell Bitget live order book, 25 min ago	4.00 bp	33.6 bp −$34	134.6 bp −$1,346	doesn't fit	doesn't fit

Coinbase International: 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.

ALT 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
Kraken Futures PF_ALTUSD	−0.0089%	1h	0.007543	−0.068%	$44K	$8K	10x	as long as short
Variational Omni ALT	−0.0061%	4h	0.007528	−0.265%	$4K	$12K	—	as long as short
Deribit ALT_USDC-PERPETUAL	0.0000%	1h	0.007536	−0.159%	—	$0	25x	as long as short
Injective ALT/USDC PERP	+0.0033%	1h	0.007381	−2.213%	$815	$4K	5.5x	as long as short
Hyperliquid ALT	+0.0100%	1h	0.007530	−0.238%	$1.1M	$185K	3x	as long as short
Binance ALTUSDT	+0.0100%	4h	0.007541	−0.088%	$2.6M	$3.6M	50x	as long as short
Bybit ALTUSDT	+0.0100%	4h	0.007534	−0.185%	$1.2M	$1.6M	25x	as long as short
Gate ALT_USDT	+0.0100%	8h	0.007532	−0.212%	$50K	$411K	25x	as long as short
MEXC ALT_USDT	+0.0100%	4h	0.007541	−0.093%	$402K	$184K	50x	as long as short
KuCoin ALTUSDTM	+0.0100%	4h	0.007539	−0.119%	$150K	$21K	30x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ALTUSDTshort	+0.0100%	4h	0.007529	−0.252%	$619K	$100K	50x
BingX ALT-USDT	+0.0100%	4h	0.007542	−0.079%	—	$1.3M	—	as long as short
BloFin ALT-USDT	+0.0114%	4h	0.007533	−0.199%	$171K	$10K	50x	as long as short
Coinbase International ALT-PERP-INTXlong	+0.0416%	1h	0.007548	long leg	$14K	$3K	50x