Funding arb · Price arb /

IO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Gate against BingX+0.040%7-day average −0.009% · you sell dearer than you buy

Net, funding: paid 7d − costs−$474as in the Funding arb table

Net, price: spread back to 7d avg − costs−$465as in the Price arb table

costs, in and out, $10k−$4704.699% of the position

Long on BingX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.038%−$4 on $10k

Price spread, last 4 days (all we have)−0.069%−$7 · spread now +0.040%, 7d avg −0.009%

Together, before fees−0.107%−$11 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: Gate is 0.049% dearer against BingX than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.009%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX IO-USDT	0.1499	0.0100	pay 0.0050% / 4h	3h 10m	—	$1.3M	—
Short	Gate IO_USDT	0.1500	0.0100	get 0.0050% / 4h	3h 10m	$229K	$556K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against BingX. 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 BingXbpFee GatebpOrdersPrice spread, now +0.040%Rate

Funding earned: $0
Price spread: +0.040% → −0.009%: $4.89
Slippage, 4 orders: −$444.9
Fee BingX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$465.01
Costs to cover: 4.699%
Break-even: never at this rate

Slippage from BingX: live order book, 6 min ago; Gate: live order book, 41 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 BingX live order book, 6 min ago	6.66 bp	31.8 bp −$32	83.5 bp −$835	487.9 bp −$48.8K	doesn't fit
Sell Gate live order book, 41 min ago	5.97 bp	217.8 bp −$218	doesn't fit	doesn't fit	doesn't fit

IO 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
BloFin IO-USDT	+0.0057%	4h	0.1501	+0.133%	$192K	$39K	50x	as long as short
Hyperliquid IO	+0.0100%	1h	0.1499	+0.013%	$1.0M	$367K	3x	as long as short
Aster IOUSDT	+0.0100%	4h	0.1500	+0.046%	$23K	$48K	5x	as long as short
Binance IOUSDT	+0.0100%	4h	0.1499	0.000%	$3.0M	$6.5M	50x	as long as short
Bybit IOUSDT	+0.0100%	4h	0.1497	−0.133%	$1.1M	$898K	25x	as long as short
Gate IO_USDTshort	+0.0100%	4h	0.1500	+0.040%	$229K	$556K	50x
MEXC IO_USDT	+0.0100%	4h	0.1497	−0.133%	$1.2M	$231K	125x	as long as short
KuCoin IOUSDTM	+0.0100%	4h	0.1500	+0.067%	$358K	$625K	50x	as long as short
Bitget IOUSDT	+0.0100%	4h	0.1500	+0.067%	$1.3M	$1.3M	50x	as long as short
BingX IO-USDTlong	+0.0100%	4h	0.1499	long leg	—	$1.3M	—

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni IO	+0.0100%	4h	0.1498	−0.085%	$32K	$14K	—	as long as short
Extended IO-USD	+0.0104%	1h	0.1499	−0.028%	$3K	$162K	5x	as long as short
Injective IO/USDC PERP	+0.0193%	1h	0.1502	+0.200%	$2K	$201	5.5x	as long as short
Kraken Futures PF_IOUSD	+1.6806%	1h	0.1494	−0.302%	$39K	$10K	10x	as long as short