Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Gate against BingX−0.102%7-day average +0.007% · you buy dearer than you sell

Net, funding: paid 7d − costs−$118as in the Funding arb table

Net, price: spread back to 7d avg − costs−$126as in the Price arb table

costs, in and out, $10k−$1151.148% of the position

Long on BingX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.028%−$3 on $10k

Price spread, last 4 days (all we have)+0.145%+$14 · spread now −0.102%, 7d avg +0.007%

Together, before fees+0.117%+$12 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Gate is 0.109% cheaper against BingX than usual: you would sell low and buy high, −$11 on $10k if it goes back to its 7-day average of +0.007%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX BASED-USDT	0.06839	0.0100	pay 0.0050% / 4h	3h 43m	—	$1.6M	—
Short	Gate BASED_USDT	0.06832	0.0100	get 0.0050% / 4h	3h 43m	$544K	$530K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against BingX. 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 BingXbpFee GatebpOrdersPrice spread, now −0.102%Rate

Funding earned: $0
Price spread: −0.102% → +0.007%: −$10.9
Slippage, 4 orders: −$89.77
Fee BingX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$125.67
Costs to cover: 1.148%
Break-even: never at this rate

Slippage from BingX: live order book, 9 min ago; Gate: live order book, 27 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 BingX live order book, 9 min ago	3.66 bp	22.9 bp −$23	84.5 bp −$845	doesn't fit	doesn't fit
Sell Gate live order book, 27 min ago	8.10 bp	34.4 bp −$34	doesn't fit	doesn't fit	doesn't fit

BASED on 15 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
Binance BASEDUSDT	+0.0100%	4h	0.06842	+0.050%	$4.2M	$3.0M	25x	as long as short
Bybit BASEDUSDT	+0.0100%	4h	0.06832	−0.102%	$2.1M	$590K	25x	as long as short
OKX BASED-USDT-SWAP	+0.0100%	4h	0.06837	−0.029%	$2.6M	$3.6M	20x	as long as short
Gate BASED_USDTshort	+0.0100%	4h	0.06832	−0.102%	$544K	$530K	50x
MEXC BASED_USDT	+0.0100%	4h	0.06841	+0.029%	$4.8M	$643K	50x	as long as short
KuCoin BASEDUSDTM	+0.0100%	4h	0.06830	−0.132%	$572K	$55K	20x	as long as short
Bitget BASEDUSDT	+0.0100%	4h	0.06847	+0.117%	$1.3M	$352K	25x	as long as short
BingX BASED-USDTlong	+0.0100%	4h	0.06839	long leg	—	$1.6M	—
Variational Omni BASED	+0.0100%	4h	0.06819	−0.293%	$93K	$21K	—	as long as short
GRVT BASED_USDT_Perp	+0.0100%	4h	0.06831	−0.112%	$91K	$382K	10x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX BASED-USDT	+0.0100%	4h	0.06830	−0.132%	$1K	$835K	20x	as long as short
Extended BASED-USD	+0.0104%	1h	0.06840	+0.012%	$1K	$243K	5x	as long as short
BloFin BASED-USDT	+0.0155%	4h	0.06832	−0.102%	$251K	$41K	25x	as long as short
Orderly PERP_BASED_USDC	+0.0292%	4h	0.06839	0.000%	$3K	$652	10x	as long as short
Aster BASEDUSDT	+0.0338%	4h	0.06839	−0.005%	$29K	$6K	5x	as long as short