Funding arb · Price arb /

H

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC+0.0050%/8hnext payment +$0.25 per $10,000 · paid last 24h −0.002%

Price spread now: BloFin against Bitget+0.043%65s7-day average +0.231% · you sell dearer than you buy

Net, funding: paid 7d − costs−$282as 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−$3103.096% of the position

Long on Bitget Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.274%+$27 on $10k

Price spread, last 3 days (all we have)+0.318%+$32 · spread now +0.043%, 7d avg +0.231%

Together, before fees+0.592%+$59 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.188% cheaper against Bitget than usual: you would sell low and buy high (spread +0.043% now, against its 7-day average of +0.231%). If the spread goes back, that is −$19 on $10k: about 13 days of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.274% in total) that is about 4.8 days. The two prices were read 65 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	Bitget HUSDT	0.07041	0.0100	pay 0.0050% / 4h	6m 13s	$1.7M	$443K	4x
Short	BloFin H-USDT	0.07044	0.0150	get 0.0075% / 4h	6m 13s	$607K	$111K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.043%Rate

Funding earned: $10.54
Price spread: +0.043% → +0.231%: −$18.83
Slippage, 4 orders: −$285.57
Fee Bitget: 6 bp × 2 orders: −$12
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$317.86
Costs to cover: 3.096%
Break-even: 218.0 days

Slippage from Bitget: live order book, 5 min ago; BloFin: live order book, 24 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, 5 min ago	7.79 bp	145.6 bp −$146	449.5 bp −$4,495	doesn't fit	doesn't fit
Sell BloFin live order book, 24 min ago	7.12 bp	28.7 bp −$29	doesn't fit	doesn't fit	doesn't fit

H on 14 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
Injective H/USDC PERP	+0.0033%	1h	0.06250	−11.234%	$1K	$1	5.5x	as long as short
Aster HUSDT	+0.0100%	4h	0.07040	−0.016%	$121K	$41K	5x	as long as short
Binance HUSDT	+0.0100%	4h	0.07037	−0.053%	$15.2M	$10.1M	10x	as long as short
Bybit HUSDT	+0.0100%	4h	0.07027	−0.199%	$7.7M	$4.2M	13x	as long as short
OKX H-USDT-SWAP	+0.0100%	4h	0.07048	+0.099%	$1.7M	$5.6M	10x	as long as short
Gate H_USDT	+0.0100%	4h	0.07031	−0.142%	$2.9M	$1.9M	10x	as long as short
MEXC H_USDT	+0.0100%	4h	0.07036	−0.071%	$6.5M	$1.0M	20x	as long as short
KuCoin HUSDTM	+0.0100%	4h	0.07037	−0.057%	$1.6M	$10.0M	8x	as long as short
Bitget HUSDTlong	+0.0100%	4h	0.07041	long leg	$1.7M	$443K	4x
BingX H-USDT	+0.0100%	4h	0.07038	−0.043%	—	$2.7M	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni H	+0.0100%	4h	0.07046	+0.078%	$8K	$12K	—	as long as short
GRVT H_USDT_Perp	+0.0100%	4h	0.07051	+0.135%	$1.2M	$499K	10x	as long as short
Extended H-USD	+0.0104%	1h	0.07039	−0.033%	$12K	$107K	5x	as long as short
BloFin H-USDTshort	+0.0150%	4h	0.07044	+0.043%	$607K	$111K	25x