Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0284%/8h= +31.1% APRpaid last 24h 0.000%

Price spread now: Bitget against Gate+0.092%7-day average −0.005% · you sell dearer than you buy

Net, funding: paid 7d − costs−$114as in the Funding arb table

Net, price: spread back to 7d avg − costs−$120as in the Price arb table

costs, in and out, $10k−$1301.297% of the position

Long on Gate Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.159%+$16 on $10k

Price spread, last 4 days (all we have)−0.087%−$9 · spread now +0.092%, 7d avg −0.005%

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

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Bitget is 0.097% dearer against Gate than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of −0.005%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.159% in total (about 8.3% 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	Gate GMT_USDT	0.008730	−0.0184	get 0.0184% / 8h	6h 27m	$158K	$166K	50x
Short	Bitget GMTUSDT	0.008738	0.0100	get 0.0050% / 4h	2h 27m	$702K	$612K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Gate. 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 GatebpFee BitgetbpOrdersPrice spread, now +0.092%Rate

Funding earned: $59.64
Price spread: +0.092% → −0.005%: $9.71
Slippage, 4 orders: −$102.68
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$60.32
Costs to cover: 1.297%
Break-even: 14.1 days

Slippage from Gate: live order book, 33 min ago; Bitget: live order book, 38 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 Gate live order book, 33 min ago	11.72 bp	41.4 bp −$41	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 38 min ago	8.18 bp	26.3 bp −$26	161.1 bp −$1,611	doesn't fit	doesn't fit

GMT 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
Kraken Futures PF_GMTUSD	−0.0628%	1h	0.008733	+0.030%	$45K	$13K	20x	as long as short
Gate GMT_USDTlong	−0.0184%	8h	0.008730	long leg	$158K	$166K	50x
Bybit GMTUSDT	−0.0126%	8h	0.008730	0.000%	$1.2M	$1.7M	50x	as long as short
KuCoin GMTUSDTM	−0.0118%	4h	0.008730	0.000%	$325K	$167K	50x	as long as short
Hyperliquid GMT	+0.0100%	1h	0.008727	−0.034%	$128K	$139K	3x	as long as short
Aster GMTUSDT	+0.0100%	4h	0.008725	−0.056%	$10K	$20K	10x	as long as short
Binance GMTUSDT	+0.0100%	4h	0.008734	+0.046%	$3.0M	$4.6M	50x	as long as short
OKX GMT-USDT-SWAP	+0.0100%	4h	0.008728	−0.023%	$426K	$1.0M	20x	as long as short
MEXC GMT_USDT	+0.0100%	4h	0.008740	+0.115%	$452K	$212K	20x	as long as short
Bitget GMTUSDTshort	+0.0100%	4h	0.008738	+0.092%	$702K	$612K	50x

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX GMT-USDT	+0.0100%	4h	0.008729	−0.011%	—	$1.2M	—	as long as short
Variational Omni GMT	+0.0100%	8h	0.008717	−0.153%	$4K	$5K	—	as long as short