Funding arb · Price arb /

FIL

all FIL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0438%/8h= +48.0% APRpaid last 24h +0.117%

Price spread now: Gate against Coinbase International+0.020%7-day average −0.092% · you sell dearer than you buy

Net, funding: paid 7d − costs−$39as in the Funding arb table

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$560.560% 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+0.173%+$17 on $10k

Price spread, last 3 days (all we have)−0.101%−$10 · spread now +0.020%, 7d avg −0.092%

Together, before fees+0.072%+$7 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$13 a day on $10k at the current rate, and Gate is 0.112% dearer against Coinbase International than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of −0.092%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.173% in total (about 9.0% 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 FIL-PERP-INTX	0.9870	−0.0352	get 0.0044% / 1h	42m 47s	$316K	$1.9M	50x
Short	Gate FIL_USDT	0.9872	0.0086	get 0.0086% / 8h	42m 47s	$7.9M	$16.2M	50x

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 +0.020%Rate

Funding earned: $91.98
Price spread: +0.020% → −0.092%: $11.23
Slippage, 4 orders: −$31.03
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: $47.18
Costs to cover: 0.560%
Break-even: 3.4 days

Slippage from Coinbase International: live order book, 1 min ago; Gate: live order book, 1 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, 1 min ago	6.58 bp	13.4 bp −$13	17.9 bp −$179	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	0.51 bp	10.6 bp −$11	22.9 bp −$229	60.1 bp −$6,008	104.2 bp −$52.1K

FIL 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 FIL_USDC-PERPETUAL	−0.1064%	1h	0.9883	+0.132%	$170K	$23K	25x	as long as short
Kraken Futures PF_FILUSD	−0.0394%	1h	0.9881	+0.115%	$1.3M	$2.4M	50x	as long as short
Coinbase International FIL-PERP-INTXlong	−0.0352%	1h	0.9870	long leg	$316K	$1.9M	50x
Injective FIL/USDC PERP	−0.0245%	1h	0.9855	−0.152%	$2K	$240K	12x	as long as short
KuCoin FILUSDTM	−0.0009%	8h	0.9873	+0.030%	$7.4M	$7.1M	50x	as long as short
gTrade (Gains Network) FIL/USD	L −0.0004% / S +0.0006%	1h	0.9884	+0.145%	$25K	—	150x	as long as short
dYdX FIL-USD	0.0000%	1h	0.9894	+0.246%	$58K	$2K	10x	as long as short
OKX FIL-USDT-SWAP	+0.0022%	8h	0.9868	−0.020%	$18.2M	$98.5M	50x	as long as short
Bitget FILUSDT	+0.0029%	8h	0.9868	−0.020%	$10.9M	$21.6M	75x	as long as short
Lighter FIL	+0.0040%	1h	0.9871	+0.009%	$158K	$347K	5x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit FILUSDT	+0.0046%	8h	0.9870	0.000%	$15.4M	$18.3M	25x	as long as short
Extended FIL-USD	+0.0056%	1h	0.9869	−0.009%	$693K	$2.3M	10x	as long as short
Binance FILUSDT	+0.0059%	8h	0.9867	−0.030%	$57.2M	$178.1M	75x	as long as short
MEXC FIL_USDC	+0.0062%	8h	0.9870	0.000%	$250K	$103K	50x	as long as short
BingX FIL-USDT	+0.0062%	8h	0.9872	+0.020%	—	$11.9M	—	as long as short
Gate FIL_USDTshort	+0.0086%	8h	0.9872	+0.020%	$7.9M	$16.2M	50x
Hyperliquid FIL	+0.0100%	1h	0.9871	+0.014%	$8.6M	$9.5M	5x	as long as short
Aster FILUSDT	+0.0100%	8h	0.9880	+0.099%	$498K	$529K	20x	as long as short
Variational Omni FIL	+0.0100%	8h	0.9898	+0.286%	$441K	$277K	—	as long as short
edgeX FILUSDC	+0.0100%	4h	0.9892	+0.226%	$45K	$295K	10x	as long as short
GRVT FIL_USDT_Perp	+0.0100%	8h	0.9892	+0.220%	$289K	$807K	10x	as long as short
ApeX Omni FILUSDT	+0.0100%	1h	0.9890	+0.203%	$30K	$197K	50x	as long as short
Orderly PERP_FIL_USDC_mythos	+0.0100%	4h	0.9888	+0.185%	$5K	—	10x	as long as short
SunX FIL-USDT	+0.0100%	8h	0.9870	0.000%	$3K	$1.1M	20x	as long as short
SoDEX FIL-USD	+0.0100%	1h	0.9874	+0.041%	$482	$11K	5x	as long as short
HTX FIL-USDT	+0.0100%	8h	0.9886	+0.162%	$632K	$5.6M	75x	as long as short
Phemex FILUSDT	+0.0100%	8h	0.9890	+0.203%	$1.1M	$2.3M	50x	as long as short
BloFin FIL-USDT	+0.0179%	8h	0.9879	+0.091%	$2.7M	$564K	75x	as long as short
GMX FIL/USD [WBTC.b-USDC]	L +0.0571% / S −0.0666%	1h	0.9882	+0.125%	$196K	—	100x	as long as short