Funding arb · Price arb /

INIT

all INIT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bitget against Binance−0.005%7-day average −0.053% · you buy dearer than you sell

Net, funding: paid 7d − costs−$154as in the Funding arb table

Net, price: spread back to 7d avg − costs−$150as in the Price arb table

costs, in and out, $10k−$1541.543% of the position

Long on Binance Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)−0.199%−$20 · spread now −0.005%, 7d avg −0.053%

Together, before fees−0.199%−$20 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bitget is 0.048% dearer against Binance than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.053%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance INITUSDT	0.08173	0.0100	pay 0.0050% / 4h	2h 52m	$3.4M	$3.6M	25x
Short	Bitget INITUSDT	0.08173	0.0100	get 0.0050% / 4h	2h 52m	$427K	$311K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Binance. 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 BinancebpFee BitgetbpOrdersPrice spread, now −0.005%Rate

Funding earned: $0
Price spread: −0.005% → −0.053%: $4.75
Slippage, 4 orders: −$132.33
Fee Binance: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$149.58
Costs to cover: 1.543%
Break-even: never at this rate

Slippage from Binance: live order book, 14 min ago; Bitget: live order book, 31 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 Binance live order book, 14 min ago	4.27 bp	25.3 bp −$25	89.8 bp −$898	doesn't fit	doesn't fit
Sell Bitget live order book, 31 min ago	7.91 bp	48.8 bp −$49	284.5 bp −$2,845	doesn't fit	doesn't fit

INIT on 13 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
Hyperliquid INIT	+0.0100%	1h	0.08171	−0.035%	$297K	$235K	3x	as long as short
Aster INITUSDT	+0.0100%	4h	0.08173	−0.002%	$27K	$36K	5x	as long as short
Binance INITUSDTlong	+0.0100%	4h	0.08173	long leg	$3.4M	$3.6M	25x
Bybit INITUSDT	+0.0100%	4h	0.08165	−0.103%	$1.4M	$1.4M	25x	as long as short
OKX INIT-USDT-SWAP	+0.0100%	4h	0.08179	+0.068%	$132K	$631K	10x	as long as short
Gate INIT_USDT	+0.0100%	8h	0.08173	−0.005%	$83K	$56K	25x	as long as short
MEXC INIT_USDT	+0.0100%	4h	0.08174	+0.007%	$444K	$215K	20x	as long as short
KuCoin INITUSDTM	+0.0100%	4h	0.08183	+0.117%	$325K	$56K	25x	as long as short
Bitget INITUSDTshort	+0.0100%	4h	0.08173	−0.005%	$427K	$311K	25x
BingX INIT-USDT	+0.0100%	4h	0.08171	−0.030%	—	$6.6M	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni INIT	+0.0100%	4h	0.08169	−0.055%	$26K	$23K	—	as long as short
BloFin INIT-USDT	+0.0112%	4h	0.08178	+0.056%	$155K	$110K	25x	as long as short
Kraken Futures PF_INITUSD	+0.0535%	1h	0.08176	+0.034%	$6K	$17K	10x	as long as short