BTW

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0584%/8h= −63.9% APRnext payment −$2.92 per $10,000 · paid last 24h +0.073%

Price spread now: Gate against KuCoin−0.002%7-day average −0.092% · you buy dearer than you sell

Net, funding: paid 7d − costs−$297as in the Funding arb table

Net, price: spread back to 7d avg − costs−$312as in the Price arb table

costs, in and out, $10k−$3213.212% of the position

Long on KuCoin Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.241%+$24 on $10k

Price spread, last 7 days+0.199%+$20 · spread now −0.002%, 7d avg −0.092%

Together, before fees+0.440%+$44 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.090% dearer against KuCoin than usual: you sell high and buy low (spread −0.002% now, against its 7-day average of −0.092%): +$9 on $10k if it goes back. Holding the pair costs −$18 a day in funding at the current rate, which eats that in about 12 hours. Mind the row above: over the last 7 days funding on this pair paid +0.241%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.241% in total (about 12.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.92 per $10,000. 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	KuCoin BTWUSDTM	0.7730	0.0796	pay 0.0398% / 4h	3h 31m	$7.1M	$4.8M	10x
Short	Gate BTW_USDT	0.7730	0.0212	get 0.0106% / 4h	3h 31m	$3.3M	$16.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against KuCoin. 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 KuCoinbpFee GatebpOrdersPrice spread, now −0.002%Rate

Funding earned: −$122.64
Price spread: −0.002% → −0.092%: $8.95
Slippage, 4 orders: −$294.22
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$434.91
Costs to cover: 3.212%
Break-even: never at this rate

Slippage from KuCoin: live order book, 2 min ago; Gate: live order book, 2 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 KuCoin live order book, 2 min ago	12.52 bp	93.1 bp −$93	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 2 min ago	13.23 bp	45.3 bp −$45	81.7 bp −$817	doesn't fit	doesn't fit

BTW on 11 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
HTX BTW-USDT	+0.0100%	4h	0.7750	+0.263%	$194K	$747K	10x	as long as short
Gate BTW_USDTshort	+0.0212%	4h	0.7730	−0.002%	$3.3M	$16.1M	10x
Bybit BTWUSDT	+0.0731%	4h	0.7758	+0.360%	$15.1M	$38.7M	10x	as long as short
KuCoin BTWUSDTMlong	+0.0796%	4h	0.7730	long leg	$7.1M	$4.8M	10x
Bitget BTWUSDT	+0.0982%	4h	0.7790	+0.779%	$24.5M	$13.6M	5x	as long as short
Aster BTWUSDT	+0.0999%	4h	0.7736	+0.080%	$2.1M	$2.9M	5x	as long as short
BingX BTW-USDT	+0.1002%	4h	0.7744	+0.185%	—	$4.4M	—	as long as short
Binance BTWUSDT	+0.1046%	4h	0.7766	+0.470%	$108.2M	$169.1M	10x	as long as short
Extended BTW-USD	+0.1048%	1h	0.7746	+0.206%	$37K	$11K	5x	as long as short
edgeX BTWUSDC	+0.1051%	4h	0.7913	+2.372%	$326K	$501K	10x	as long as short

Show all 11 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC BTW_USDT	+0.1054%	4h	0.7759	+0.379%	$9.2M	$6.2M	20x	as long as short