Funding arb · Price arb /

NOT

all NOT 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: Binance against Bitget−0.156%7-day average −0.042% · you buy dearer than you sell

Net, funding: paid 7d − costs−$90as in the Funding arb table

Net, price: spread back to 7d avg − costs−$98as in the Price arb table

costs, in and out, $10k−$870.870% of the position

Long on Bitget Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.032%−$3 on $10k

Price spread, last 4 days (all we have)+0.095%+$9 · spread now −0.156%, 7d avg −0.042%

Together, before fees+0.063%+$6 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 0.114% cheaper against Bitget than usual: you would sell low and buy high, −$11 on $10k if it goes back to its 7-day average of −0.042%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget NOTUSDT	0.0005126	0.0100	pay 0.0050% / 4h	1m 56s	$673K	$385K	50x
Short	Binance NOTUSDT	0.0005118	0.0100	get 0.0050% / 4h	1m 56s	$2.1M	$3.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Bitget. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 BitgetbpFee BinancebpOrdersPrice spread, now −0.156%Rate

Funding earned: $0
Price spread: −0.156% → −0.042%: −$11.36
Slippage, 4 orders: −$64.98
Fee Bitget: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$98.33
Costs to cover: 0.870%
Break-even: never at this rate

Slippage from Bitget: live order book, 8 min ago; Binance: live order book, 4 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 Bitget live order book, 8 min ago	1.96 bp	31.4 bp −$31	243.3 bp −$2,433	doesn't fit	doesn't fit
Sell Binance live order book, 4 min ago	2.94 bp	16.8 bp −$17	76.1 bp −$761	doesn't fit	doesn't fit

NOT on 16 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
Variational Omni NOT	−0.0012%	4h	0.0005092	−0.667%	$72K	$39K	—	as long as short
Injective NOT/USDC PERP	+0.0033%	1h	0.0004874	−4.916%	$1K	$13K	5.5x	as long as short
BloFin NOT-USDT	+0.0062%	4h	0.0005111	−0.293%	$111K	$17K	50x	as long as short
Lighter 1000NOT	+0.0096%	1h	0.0005126	+0.008%	$12K	$5K	3x	as long as short
Hyperliquid NOT	+0.0100%	1h	0.0005120	−0.117%	$375K	$50K	3x	as long as short
Aster NOTUSDT	+0.0100%	4h	0.0005119	−0.131%	$14K	$9K	5x	as long as short
Binance NOTUSDTshort	+0.0100%	4h	0.0005118	−0.156%	$2.1M	$3.1M	50x
Bybit NOTUSDT	+0.0100%	4h	0.0005119	−0.137%	$2.2M	$827K	25x	as long as short
OKX NOT-USDT-SWAP	+0.0100%	4h	0.0005124	−0.039%	$638K	$630K	20x	as long as short
Gate NOT_USDT	+0.0100%	4h	0.0005113	−0.254%	$142K	$79K	50x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC NOT_USDT	+0.0100%	4h	0.0005120	−0.117%	$1.4M	$463K	200x	as long as short
KuCoin NOTUSDTM	+0.0100%	4h	0.0005112	−0.273%	$467K	$137K	50x	as long as short
Bitget NOTUSDTlong	+0.0100%	4h	0.0005126	long leg	$673K	$385K	50x
BingX NOT-USDC	+0.0100%	4h	0.0005122	−0.078%	—	$720K	—	as long as short
Extended kNOT-USD	+0.0104%	1h	0.0005117	−0.176%	$4K	$491	5x	as long as short
Kraken Futures PF_NOTUSD	+0.4164%	1h	0.0005123	−0.056%	$50K	$10K	10x	as long as short