Funding arb · Price arb /

FIL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0224%/8h= +24.5% APRpaid last 24h +0.026%

Price spread now: BloFin against gTrade (Gains Network)−0.187%50s7-day average — · you buy dearer than you sell

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

Long on gTrade (Gains Network)Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. BloFin is 0.187% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.187% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$19 on $10k: about 2.8 days of funding at the current rate (+$7 a day). The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) FIL/USD	0.9957	L −0.0004% / S +0.0006%	get 0.0000% / 1h	47m 59s	$26K	—	150x
Short	BloFin FIL-USDT	0.9938	0.0220	get 0.0220% / 8h	2h 47m	$2.7M	$705K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee BloFinbpOrdersPrice spread, now −0.187%Rate

Funding earned: $46.96
Price spread: −0.187% → 0.000%: −$18.69
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: $6.26
Costs to cover: 0.220%
Break-even: 6.1 days

Slippage unknown: gTrade (Gains Network): no order-book sample; BloFin: live order book, 5 min ago. 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell BloFin live order book, 5 min ago	1.01 bp	10.3 bp −$10	19.8 bp −$198	48.9 bp −$4,888	doesn't fit

gTrade (Gains Network): 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.

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	−0.0452%	1h	0.9959	+0.024%	$171K	$23K	25x	as long as short
Coinbase International FIL-PERP-INTX	−0.0240%	1h	0.9958	+0.014%	$351K	$2.2M	50x	as long as short
gTrade (Gains Network) FIL/USDlong	L −0.0004% / S +0.0006%	1h	0.9957	long leg	$26K	—	150x
dYdX FIL-USD	0.0000%	1h	0.9955	−0.016%	$58K	$1K	10x	as long as short
OKX FIL-USDT-SWAP	+0.0014%	8h	0.9944	−0.127%	$17.9M	$107.8M	50x	as long as short
Injective FIL/USDC PERP	+0.0033%	1h	0.9855	−1.021%	$2K	$240K	12x	as long as short
KuCoin FILUSDTM	+0.0034%	8h	0.9945	−0.117%	$7.3M	$7.9M	50x	as long as short
Lighter FIL	+0.0096%	1h	0.9946	−0.110%	$145K	$376K	5x	as long as short
Hyperliquid FIL	+0.0100%	1h	0.9948	−0.085%	$8.4M	$9.4M	5x	as long as short
Aster FILUSDT	+0.0100%	8h	0.9947	−0.096%	$507K	$613K	20x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance FILUSDT	+0.0100%	8h	0.9944	−0.127%	$56.5M	$185.9M	75x	as long as short
Bybit FILUSDT	+0.0100%	8h	0.9942	−0.147%	$15.8M	$20.6M	25x	as long as short
Gate FIL_USDT	+0.0100%	8h	0.9945	−0.117%	$8.4M	$16.7M	50x	as long as short
MEXC FIL_USDC	+0.0100%	8h	0.9939	−0.177%	$234K	$103K	50x	as long as short
Bitget FILUSDT	+0.0100%	8h	0.9937	−0.197%	$11.2M	$20.4M	75x	as long as short
BingX FIL-USDT	+0.0100%	8h	0.9948	−0.086%	—	$11.9M	—	as long as short
Variational Omni FIL	+0.0100%	8h	0.9926	−0.310%	$449K	$265K	—	as long as short
edgeX FILUSDC	+0.0100%	4h	0.9904	−0.533%	$45K	$296K	10x	as long as short
GRVT FIL_USDT_Perp	+0.0100%	8h	0.9935	−0.217%	$291K	$1.1M	10x	as long as short
ApeX Omni FILUSDT	+0.0100%	1h	0.9920	−0.368%	$30K	$182K	50x	as long as short
Orderly PERP_FIL_USDC_mythos	+0.0100%	4h	0.9964	+0.077%	$4K	$798	10x	as long as short
SunX FIL-USDT	+0.0100%	8h	0.9940	−0.167%	$2K	$1.1M	20x	as long as short
SoDEX FIL-USD	+0.0100%	1h	0.9951	−0.056%	$480	$11K	5x	as long as short
HTX FIL-USDT	+0.0100%	8h	0.9962	+0.054%	$617K	$5.8M	75x	as long as short
Phemex FILUSDT	+0.0100%	8h	0.9950	−0.066%	$1.2M	$2.6M	50x	as long as short
Extended FIL-USD	+0.0104%	1h	0.9939	−0.179%	$696K	$1.4M	10x	as long as short
BloFin FIL-USDTshort	+0.0220%	8h	0.9938	−0.187%	$2.7M	$705K	75x
Kraken Futures PF_FILUSD	+0.0250%	1h	0.9955	−0.018%	$1.4M	$2.2M	50x	as long as short
GMX FIL/USD [WBTC.b-USDC]	L +0.0593% / S −0.0267%	1h	0.9958	+0.018%	$266K	—	100x	as long as short