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: BingX against Gate0.000%7-day average −0.036% · you sell dearer than you buy

Net, funding: paid 7d − costs−$113as in the Funding arb table

Net, price: spread back to 7d avg − costs−$110as in the Price arb table

costs, in and out, $10k−$1141.141% of the position

Long on Gate Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.015%+$2 on $10k

Price spread, last 4 days (all we have)−0.050%−$5 · spread now 0.000%, 7d avg −0.036%

Together, before fees−0.034%−$3 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: BingX is 0.036% dearer against Gate than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.036%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate NOT_USDT	0.0005089	0.0100	pay 0.0050% / 4h	52m 01s	$141K	$78K	50x
Short	BingX NOT-USDT	0.0005089	0.0100	get 0.0050% / 4h	52m 01s	—	$7.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → −0.036%: $3.65
Slippage, 4 orders: −$89.13
Fee Gate: 7.5 bp × 2 orders: −$15
Fee BingX: 5 bp × 2 orders: −$10
Net: −$110.49
Costs to cover: 1.141%
Break-even: never at this rate

Slippage from Gate: live order book, 18 min ago; BingX: live order book, 1 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, 18 min ago	10.93 bp	36.3 bp −$36	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 1 min ago	2.95 bp	17.0 bp −$17	49.1 bp −$491	591.7 bp −$59.2K	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	−0.0064%	4h	0.0005085	−0.082%	$72K	$39K	—	as long as short
Injective NOT/USDC PERP	+0.0033%	1h	0.0004874	−4.225%	$1K	$13K	5.5x	as long as short
BloFin NOT-USDT	+0.0076%	4h	0.0005091	+0.039%	$111K	$17K	50x	as long as short
Lighter 1000NOT	+0.0096%	1h	0.0005096	+0.145%	$11K	$5K	3x	as long as short
Hyperliquid NOT	+0.0100%	1h	0.0005090	+0.020%	$373K	$51K	3x	as long as short
Aster NOTUSDT	+0.0100%	4h	0.0005089	0.000%	$14K	$9K	5x	as long as short
Binance NOTUSDT	+0.0100%	4h	0.0005088	−0.020%	$2.1M	$3.1M	50x	as long as short
Bybit NOTUSDT	+0.0100%	4h	0.0005083	−0.118%	$2.1M	$822K	25x	as long as short
OKX NOT-USDT-SWAP	+0.0100%	4h	0.0005094	+0.098%	$622K	$600K	20x	as long as short
Gate NOT_USDTlong	+0.0100%	4h	0.0005089	long leg	$141K	$78K	50x

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC NOT_USDT	+0.0100%	4h	0.0005089	0.000%	$1.4M	$458K	200x	as long as short
KuCoin NOTUSDTM	+0.0100%	4h	0.0005081	−0.157%	$464K	$138K	50x	as long as short
Bitget NOTUSDT	+0.0100%	4h	0.0005090	+0.020%	$668K	$384K	50x	as long as short
BingX NOT-USDTshort	+0.0100%	4h	0.0005089	0.000%	—	$7.5M	—
Extended kNOT-USD	+0.0104%	1h	0.0005087	−0.040%	$4K	$1K	5x	as long as short
Kraken Futures PF_NOTUSD	+0.4192%	1h	0.0005088	−0.018%	$50K	$10K	10x	as long as short