Funding arb · Price arb /

DOT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0708%/8h= −77.5% APRpaid last 24h −0.091%

Price spread now: Coinbase International against Bitget+0.474%47s7-day average +0.026% · you sell dearer than you buy

Net, funding: paid 7d − costs−$92as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$630.628% of the position

Long on Bitget Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.294%−$29 on $10k

Price spread, last 4 days (all we have)−0.553%−$55 · spread now +0.474%, 7d avg +0.026%

Together, before fees−0.847%−$85 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 0.448% dearer against Bitget than usual: you sell high and buy low (spread +0.474% now, against its 7-day average of +0.026%): +$45 on $10k if it goes back. Holding the pair costs −$21 a day in funding at the current rate, which eats that in about 2.1 days. At the pace of the last 7 days (−0.294% in total) that is about 11 days. The two prices were read 47 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 -0.294% in total (about -15.3% 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 DOTUSDT	1.1824	0.0100	pay 0.0100% / 8h	4h 50m	$22.6M	$14.8M	75x
Short	Coinbase International DOT-PERP-INTX	1.1880	−0.0608	pay 0.0076% / 1h	50m 26s	$195K	$1.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Bitget. 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 BitgetbpFee Coinbase InternationalbpOrdersPrice spread, now +0.474%Rate

Funding earned: −$148.68
Price spread: +0.474% → +0.026%: $44.77
Slippage, 4 orders: −$40.82
Fee Bitget: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$166.73
Costs to cover: 0.628%
Break-even: never at this rate

Slippage from Bitget: live order book, 3 min ago; Coinbase International: live order book, 3 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 Bitget live order book, 3 min ago	4.22 bp	18.0 bp −$18	25.3 bp −$253	76.2 bp −$7,619	doesn't fit
Sell Coinbase International live order book, 3 min ago	4.21 bp	17.1 bp −$17	22.1 bp −$221	doesn't fit	doesn't fit

DOT on 29 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
Deribit DOT_USDC-PERPETUAL	−0.2276%	1h	1.1847	+0.195%	$226K	$114K	50x	as long as short
Coinbase International DOT-PERP-INTXshort	−0.0608%	1h	1.1880	+0.474%	$195K	$1.9M	50x
Reya DOTRUSDPERP	−0.0166%	1h	1.1825	+0.009%	$256	—	—	as long as short
dYdX DOT-USD	0.0000%	1h	1.1834	+0.084%	$142K	$6K	10x	as long as short
gTrade (Gains Network) DOT/USD	L 0.0000% / S +0.0004%	1h	1.1836	+0.101%	$3K	—	150x	as long as short
Injective DOT/USDC PERP	+0.0033%	1h	1.2020	+1.658%	$328	$121K	12x	as long as short
Lighter DOT	+0.0096%	1h	1.1832	+0.069%	$267K	$632K	10x	as long as short
OKX DOT-USDT-SWAP	+0.0098%	8h	1.1828	+0.034%	$9.4M	$24.1M	50x	as long as short
Hyperliquid DOT	+0.0100%	1h	1.1831	+0.063%	$5.3M	$3.4M	10x	as long as short
Aster DOTUSDT	+0.0100%	8h	1.1844	+0.167%	$855K	$581K	50x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance DOTUSDT	+0.0100%	8h	1.1835	+0.093%	$43.5M	$85.0M	75x	as long as short
Bybit DOTUSDT	+0.0100%	8h	1.1832	+0.068%	$24.3M	$18.9M	75x	as long as short
Gate DOT_USDT	+0.0100%	8h	1.1830	+0.051%	$6.7M	$11.7M	75x	as long as short
MEXC DOT_USDT	+0.0100%	8h	1.1831	+0.059%	$36.0M	$51.0M	300x	as long as short
KuCoin DOTUSDTM	+0.0100%	8h	1.1832	+0.068%	$6.5M	$9.1M	75x	as long as short
Bitget DOTUSDTlong	+0.0100%	8h	1.1824	long leg	$22.6M	$14.8M	75x
BingX DOT-USDT	+0.0100%	8h	1.1832	+0.068%	—	$29.7M	—	as long as short
Backpack DOT_USDC_PERP	+0.0100%	1h	1.1839	+0.127%	$92K	$129K	10x	as long as short
Variational Omni DOT	+0.0100%	8h	1.1834	+0.088%	$539K	$58K	—	as long as short
edgeX DOTUSDC	+0.0100%	4h	1.1867	+0.364%	$35K	$334K	20x	as long as short
GRVT DOT_USDT_Perp	+0.0100%	8h	1.1868	+0.372%	$226K	$407K	10x	as long as short
Orderly PERP_DOT_USDC	+0.0100%	8h	1.1830	+0.051%	$8K	$24K	10x	as long as short
SunX DOT-USDT	+0.0100%	8h	1.1859	+0.296%	$2K	$1.3M	20x	as long as short
HTX DOT-USDT	+0.0100%	8h	1.1848	+0.203%	$258K	$242K	75x	as long as short
Extended DOT-USD	+0.0104%	1h	1.1821	−0.026%	$14K	$303K	25x	as long as short
Kraken Futures PF_DOTUSD	+0.0214%	1h	1.1844	+0.168%	$4.4M	$1.5M	50x	as long as short
Phemex DOTUSDT	+0.0217%	8h	1.1860	+0.304%	$2.3M	$2.2M	50x	as long as short
BloFin DOT-USDT	+0.0220%	8h	1.1837	+0.110%	$2.2M	$877K	75x	as long as short
GMX DOT/USD [WBTC.b-USDC]	L +0.0301% / S −0.1012%	1h	1.1836	+0.101%	$22K	—	100x	as long as short