Funding arb · Price arb /

DEEP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.8100%/8h= −887.0% APRpaid last 24h −0.363%

Price spread now: Bluefin against Bitget−0.744%52s7-day average — · you buy dearer than you sell

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

Long on Bitget Short on Bluefin

What this pair did over the last

the charts below follow

Funding, last 7 days−3.773%−$377 on $10k

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 −$243 a day on $10k at the current rate, and Bluefin is 0.744% cheaper against Bitget than usual: you would sell low and buy high (−$74 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -3.773% in total (about -196.7% 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	Bitget DEEPUSDT	0.02016	0.0100	pay 0.0050% / 4h	3h 58m	$864K	$609K	50x
Short	Bluefin DEEP-PERP	0.02001	−0.8000	pay 0.1000% / 1h	58m 23s	$82K	$17K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bluefin against Bitget. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 BitgetbpFee BluefinbpOrdersPrice spread, now −0.744%Rate

Funding earned: −$1,701
Price spread: −0.744% → 0.000%: −$74.4
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Bluefin: 3.5 bp × 2 orders: −$7
Net: −$1,794.4
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Bitget: live order book, 12 min ago; Bluefin: no order-book sample. 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 Bitget live order book, 12 min ago	9.97 bp	31.9 bp −$32	168.3 bp −$1,683	doesn't fit	doesn't fit
Sell Bluefin no order-book sample	—	—	—	—	—

Bluefin: 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.

DEEP on 12 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
Bluefin DEEP-PERPshort	−0.8000%	1h	0.02001	−0.744%	$82K	$17K	20x
Binance DEEPUSDT	+0.0100%	4h	0.02016	0.000%	$2.2M	$6.2M	50x	as long as short
Bybit DEEPUSDT	+0.0100%	8h	0.02009	−0.347%	$4.3M	$2.7M	50x	as long as short
Gate DEEP_USDT	+0.0100%	4h	0.02011	−0.248%	$309K	$92K	50x	as long as short
MEXC DEEP_USDT	+0.0100%	4h	0.02016	0.000%	$1.1M	$554K	100x	as long as short
KuCoin DEEPUSDTM	+0.0100%	4h	0.02016	0.000%	$1.8M	$95K	20x	as long as short
Bitget DEEPUSDTlong	+0.0100%	4h	0.02016	long leg	$864K	$609K	50x
BingX DEEP-USDT	+0.0100%	4h	0.02014	−0.099%	—	$6.6M	—	as long as short
Variational Omni DEEP	+0.0100%	8h	0.02009	−0.336%	$13K	$9K	—	as long as short
Extended DEEP-USD	+0.0104%	1h	0.02017	+0.029%	$5K	$217K	5x	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin DEEP-USDT	+0.0119%	8h	0.02016	0.000%	$140K	$33K	50x	as long as short
Kraken Futures PF_DEEPUSD	+1.2477%	1h	0.02041	+1.262%	$8K	$7K	10x	as long as short