Funding arb · Price arb /

IO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Gate against Bybit−0.033%7-day average +0.046% · you buy dearer than you sell

Net, funding: paid 7d − costs−$609as in the Funding arb table

Net, price: spread back to 7d avg − costs−$625as in the Price arb table

costs, in and out, $10k−$6176.169% of the position

Long on Bybit Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.081%+$8 on $10k

Price spread, last 4 days (all we have)+0.039%+$4 · spread now −0.033%, 7d avg +0.046%

Together, before fees+0.120%+$12 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 0.079% cheaper against Bybit than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of +0.046%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit IOUSDT	0.1521	0.0100	pay 0.0050% / 4h	2h 23m	$1.1M	$914K	25x
Short	Gate IO_USDT	0.1520	0.0100	get 0.0050% / 4h	2h 23m	$236K	$560K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Bybit. 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 BybitbpFee GatebpOrdersPrice spread, now −0.033%Rate

Funding earned: $0
Price spread: −0.033% → +0.046%: −$7.91
Slippage, 4 orders: −$590.94
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$624.85
Costs to cover: 6.169%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; Gate: live order book, 43 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 Bybit live order book, 2 min ago	6.57 bp	75.1 bp −$75	458.0 bp −$4,580	doesn't fit	doesn't fit
Sell Gate live order book, 43 min ago	5.27 bp	258.9 bp −$259	doesn't fit	doesn't fit	doesn't fit

IO 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 IO	+0.0100%	1h	0.1522	+0.046%	$1.0M	$386K	3x	as long as short
Aster IOUSDT	+0.0100%	4h	0.1522	+0.095%	$6K	$32K	5x	as long as short
Binance IOUSDT	+0.0100%	4h	0.1522	+0.090%	$3.0M	$6.6M	50x	as long as short
Bybit IOUSDTlong	+0.0100%	4h	0.1521	long leg	$1.1M	$914K	25x
Gate IO_USDTshort	+0.0100%	4h	0.1520	−0.033%	$236K	$560K	50x
MEXC IO_USDT	+0.0100%	4h	0.1521	0.000%	$1.2M	$229K	125x	as long as short
KuCoin IOUSDTM	+0.0100%	4h	0.1523	+0.131%	$356K	$679K	50x	as long as short
Bitget IOUSDT	+0.0100%	4h	0.1523	+0.131%	$1.3M	$1.2M	50x	as long as short
BingX IO-USDT	+0.0100%	4h	0.1522	+0.066%	—	$1.3M	—	as long as short
Variational Omni IO	+0.0100%	4h	0.1523	+0.148%	$33K	$13K	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended IO-USD	+0.0104%	1h	0.1522	+0.075%	$3K	$132K	5x	as long as short
Injective IO/USDC PERP	+0.1587%	1h	0.1502	−1.249%	$2K	$201	5.5x	as long as short
Kraken Futures PF_IOUSD	+2.1524%	1h	0.1521	+0.024%	$39K	$18K	10x	as long as short