Funding arb · Price arb /

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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: Binance against Gate−0.101%7-day average −0.017% · you buy dearer than you sell

Net, funding: paid 7d − costs−$669as in the Funding arb table

Net, price: spread back to 7d avg − costs−$678as in the Price arb table

costs, in and out, $10k−$6706.700% of the position

Long on Gate Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.011%+$1 on $10k

Price spread, last 4 days (all we have)+0.163%+$16 · spread now −0.101%, 7d avg −0.017%

Together, before fees+0.174%+$17 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: Binance is 0.084% cheaper against Gate than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of −0.017%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate LAYER_USDT	0.07635	0.0100	pay 0.0050% / 4h	1h 50m	$137K	$54K	20x
Short	Binance LAYERUSDT	0.07627	0.0100	get 0.0050% / 4h	1h 50m	$2.1M	$2.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −0.101%Rate

Funding earned: $0
Price spread: −0.101% → −0.017%: −$8.41
Slippage, 4 orders: −$644.96
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Binance: 5 bp × 2 orders: −$10
Net: −$678.37
Costs to cover: 6.700%
Break-even: never at this rate

Slippage from Gate: live order book, 25 min ago; Binance: live order book, 15 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, 25 min ago	13.07 bp	540.8 bp −$541	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 15 min ago	1.97 bp	19.1 bp −$19	83.6 bp −$836	doesn't fit	doesn't fit

LAYER 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
Kraken Futures PF_LAYERUSD	−0.0448%	1h	0.07629	−0.075%	$8K	$964	10x	as long as short
Injective LAYER/USDC PERP	+0.0033%	1h	0.07274	−4.728%	—	$18K	5.5x	as long as short
Hyperliquid LAYER	+0.0100%	1h	0.07640	+0.062%	$587K	$162K	3x	as long as short
Aster LAYERUSDT	+0.0100%	4h	0.07629	−0.081%	$9K	$2K	5x	as long as short
Binance LAYERUSDTshort	+0.0100%	4h	0.07627	−0.101%	$2.1M	$2.3M	50x
OKX LAYER-USDT-SWAP	+0.0100%	4h	0.07627	−0.105%	$699K	$654K	20x	as long as short
Gate LAYER_USDTlong	+0.0100%	4h	0.07635	long leg	$137K	$54K	20x
MEXC LAYER_USDT	+0.0100%	4h	0.07626	−0.118%	$351K	$112K	20x	as long as short
Bitget LAYERUSDT	+0.0100%	4h	0.07634	−0.013%	$1.1M	$163K	50x	as long as short
ApeX Omni LAYERUSDT	+0.0100%	1h	0.07630	−0.065%	$26K	$186K	50x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended LAYER-USD	+0.0104%	1h	0.07626	−0.119%	$2K	$174K	5x	as long as short
BloFin LAYER-USDT	+0.0136%	4h	0.07625	−0.131%	$113K	$12K	50x	as long as short
BingX LAYER-USDT	+0.0148%	4h	0.07634	−0.013%	—	$1.6M	—	as long as short