Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.1106%/8h= +121.1% APRpaid last 24h +0.166%

Price spread now: BloFin against Gate+0.169%93s7-day average +0.137% · you sell dearer than you buy

Net, funding: paid 7d − costs−$164as 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−$2082.083% of the position

Long on Gate Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.445%+$45 on $10k

Price spread, last 4 days (all we have)+0.275%+$28 · spread now +0.169%, 7d avg +0.137%

Together, before fees+0.720%+$72 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$33 a day on $10k at the current rate, and BloFin is 0.032% dearer against Gate than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.137%. The two prices were read 93 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.445% in total (about 23.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate M_USDT	1.4227	0.0100	pay 0.0100% / 8h	5h 33m	$1.9M	$900K	10x
Short	BloFin M-USDT	1.4251	0.1206	get 0.0603% / 4h	1h 33m	$356K	$435K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.169%Rate

Funding earned: $232.24
Price spread: +0.169% → +0.137%: $3.19
Slippage, 4 orders: −$181.33
Fee Gate: 7.5 bp × 2 orders: −$15
Fee BloFin: 6 bp × 2 orders: −$12
Net: $27.1
Costs to cover: 2.083%
Break-even: 6.2 days

Slippage from Gate: live order book, 4 min ago; BloFin: live order book, 7 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, 4 min ago	15.05 bp	61.8 bp −$62	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 7 min ago	1.05 bp	59.1 bp −$59	doesn't fit	doesn't fit	doesn't fit

M on 12 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
Bybit MUSDT	+0.0100%	4h	1.4246	+0.134%	$4.5M	$1.8M	20x	as long as short
Gate M_USDTlong	+0.0100%	8h	1.4227	long leg	$1.9M	$900K	10x
Bitget MUSDT	+0.0100%	4h	1.4257	+0.211%	$1.8M	$252K	10x	as long as short
Variational Omni M	+0.0100%	4h	1.4272	+0.318%	$89K	$43K	—	as long as short
Orderly PERP_M_USDC	+0.0100%	4h	1.4261	+0.239%	$2K	$496	10x	as long as short
SunX M-USDT	+0.0100%	4h	1.4283	+0.394%	$2K	$734K	20x	as long as short
Aster MUSDT	+0.0912%	4h	1.4233	+0.041%	$16K	$93K	5x	as long as short
Binance MUSDT	+0.1201%	4h	1.4236	+0.063%	$5.5M	$3.8M	10x	as long as short
BloFin M-USDTshort	+0.1206%	4h	1.4251	+0.169%	$356K	$435K	10x
BingX M-USDT	+0.1214%	4h	1.4243	+0.112%	—	$2.4M	—	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC M_USDT	+0.1218%	4h	1.4234	+0.049%	$239K	$106K	50x	as long as short
KuCoin MUSDTM	+0.2786%	4h	1.4100	−0.891%	$1.4M	$4.0M	10x	as long as short