Funding arb · Price arb /

ARB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0710%/8h= −77.7% APRpaid last 24h −0.096%

Price spread now: Gate against Coinbase International−0.255%7-day average −0.176% · you buy dearer than you sell

Net, funding: paid 7d − costs−$123as in the Funding arb table

Net, price: spread back to 7d avg − costs−$90as in the Price arb table

costs, in and out, $10k−$820.818% of the position

Long on Coinbase International Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.411%−$41 on $10k

Price spread, last 4 days (all we have)−0.227%−$23 · spread now −0.255%, 7d avg −0.176%

Together, before fees−0.638%−$64 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$21 a day on $10k at the current rate, and Gate is 0.079% cheaper against Coinbase International than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of −0.176%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.411% in total (about -21.4% 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	Coinbase International ARB-PERP-INTX	0.2193	0.0336	pay 0.0042% / 1h	53m 29s	$523K	$1.5M	50x
Short	Gate ARB_USDT	0.2188	−0.0374	pay 0.0374% / 8h	7h 53m	$5.4M	$18.1M	60x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.255%Rate

Funding earned: −$149.1
Price spread: −0.255% → −0.176%: −$7.9
Slippage, 4 orders: −$56.76
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$238.76
Costs to cover: 0.818%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 5 min ago; Gate: live order book, 5 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 Coinbase International live order book, 5 min ago	8.90 bp	22.3 bp −$22	54.0 bp −$540	doesn't fit	doesn't fit
Sell Gate live order book, 5 min ago	2.06 bp	16.5 bp −$16	19.6 bp −$196	103.4 bp −$10.3K	doesn't fit

ARB on 36 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
Injective ARB/USDC PERP	−0.1605%	1h	0.2174	−0.884%	$39K	$372K	12x	as long as short
Gate ARB_USDTshort	−0.0374%	8h	0.2188	−0.255%	$5.4M	$18.1M	60x
Kraken Futures PF_ARBUSD	−0.0168%	1h	0.2191	−0.105%	$1.1M	$4.3M	50x	as long as short
SoDEX ARB-USD	−0.0167%	1h	0.2190	−0.178%	$9K	$2.2M	5x	as long as short
Bybit ARBUSDT	−0.0127%	8h	0.2189	−0.191%	$53.3M	$125.9M	50x	as long as short
Phemex ARBUSDT	−0.0119%	8h	0.2190	−0.155%	$4.8M	$12.8M	50x	as long as short
01 Exchange ARBUSD	−0.0096%	1h	0.2189	−0.201%	$7K	$236	10x	as long as short
OKX ARB-USDT-SWAP	−0.0070%	8h	0.2189	−0.205%	$22.1M	$145.4M	50x	as long as short
MEXC ARB_USDT	−0.0069%	8h	0.2189	−0.214%	$42.7M	$62.5M	200x	as long as short
Orderly PERP_ARB_USDC	−0.0040%	8h	0.2190	−0.155%	$16K	$412K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT ARB_USDT_Perp	−0.0023%	8h	0.2185	−0.375%	$470K	$3.6M	10x	as long as short
dYdX ARB-USD	0.0000%	1h	0.2190	−0.175%	$65K	$4K	10x	as long as short
Extended ARB-USD	0.0000%	1h	0.2186	−0.328%	$364K	$3.1M	25x	as long as short
Deribit ARB_USDC-PERPETUAL	0.0000%	1h	0.2190	−0.150%	$28K	$38K	25x	as long as short
Binance ARBUSDT	+0.0004%	8h	0.2190	−0.173%	$63.2M	$299.2M	75x	as long as short
gTrade (Gains Network) ARB/USD	L +0.0005% / S −0.0006%	1h	0.2191	−0.093%	$73K	—	150x	as long as short
BloFin ARB-USDT	+0.0021%	8h	0.2189	−0.182%	$3.0M	$2.3M	75x	as long as short
Variational Omni ARB	+0.0034%	8h	0.2186	−0.315%	$1.8M	$3.0M	—	as long as short
Aevo ARB-PERP	+0.0080%	1h	0.2191	−0.124%	$139K	$7K	3x	as long as short
Bitget ARBUSDT	+0.0083%	8h	0.2188	−0.246%	$21.1M	$34.6M	50x	as long as short
BingX ARB-USDC	+0.0087%	8h	0.2189	−0.182%	—	$6.5M	—	as long as short
Lighter ARB	+0.0096%	1h	0.2188	−0.246%	$1.3M	$5.5M	15x	as long as short
Hyperliquid ARB	+0.0100%	1h	0.2190	−0.137%	$36.6M	$49.7M	10x	as long as short
Aster ARBUSDT	+0.0100%	8h	0.2189	−0.199%	$627K	$1.7M	20x	as long as short
Pacifica ARB	+0.0100%	1h	0.2189	−0.197%	$43K	$146K	10x	as long as short
KuCoin ARBUSDTM	+0.0100%	8h	0.2189	−0.201%	$19.5M	$13.8M	75x	as long as short
edgeX ARBUSDC	+0.0100%	4h	0.2185	−0.370%	$40K	$465K	20x	as long as short
ApeX Omni ARBUSDT	+0.0100%	1h	0.2185	−0.383%	$118K	$267K	50x	as long as short
Polymarket Perps ARB-USD	+0.0100%	1h	0.2191	−0.128%	$73K	$2.1M	10x	as long as short
SunX ARB-USDT	+0.0100%	8h	0.2194	+0.027%	$2K	$1.1M	30x	as long as short
HTX ARB-USDT	+0.0100%	8h	0.2192	−0.068%	$294K	$836K	50x	as long as short
RISEx ARB/USDC	+0.0123%	1h	0.2189	−0.191%	$514K	$2.7M	10x	as long as short
Backpack ARB_USDC_PERP	+0.0195%	1h	0.2192	−0.059%	$980K	$2.8M	20x	as long as short
GMX ARB/USD [ARB-USDC]	L +0.0277% / S −0.0160%	1h	0.2190	−0.154%	$831K	—	150x	as long as short
Reya ARBRUSDPERP	+0.0288%	1h	0.2188	−0.252%	$2K	$695	20x	as long as short
Coinbase International ARB-PERP-INTXlong	+0.0336%	1h	0.2193	long leg	$523K	$1.5M	50x