Funding arb · Price arb /

NOT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.004%

Price spread now: Bybit against Gate−0.258%7-day average −0.136% · you buy dearer than you sell

Net, funding: paid 7d − costs−$172as in the Funding arb table

Net, price: spread back to 7d avg − costs−$184as in the Price arb table

costs, in and out, $10k−$1721.717% of the position

Long on Gate Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)+0.159%+$16 · spread now −0.258%, 7d avg −0.136%

Together, before fees+0.159%+$16 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: Bybit is 0.122% cheaper against Gate than usual: you would sell low and buy high, −$12 on $10k if it goes back to its 7-day average of −0.136%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate NOT_USDT	0.0005030	0.0100	pay 0.0050% / 4h	3h 59m	$141K	$59K	50x
Short	Bybit NOTUSDT	0.0005017	0.0100	get 0.0050% / 4h	3h 59m	$2.1M	$816K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.258%Rate

Funding earned: $0
Price spread: −0.258% → −0.136%: −$12.2
Slippage, 4 orders: −$145.75
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$183.95
Costs to cover: 1.717%
Break-even: never at this rate

Slippage from Gate: live order book, 31 min ago; Bybit: live order book, 2 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, 31 min ago	9.96 bp	39.7 bp −$40	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	3.98 bp	41.4 bp −$41	185.2 bp −$1,852	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
Injective NOT/USDC PERP	+0.0033%	1h	0.0004874	−3.101%	$1K	$13K	5.5x	as long as short
BloFin NOT-USDT	+0.0046%	4h	0.0005029	−0.020%	$108K	$18K	50x	as long as short
Lighter 1000NOT	+0.0096%	1h	0.0005031	+0.020%	$11K	$6K	3x	as long as short
Hyperliquid NOT	+0.0100%	1h	0.0005020	−0.199%	$340K	$65K	3x	as long as short
Aster NOTUSDT	+0.0100%	4h	0.0005023	−0.143%	$14K	$9K	5x	as long as short
Binance NOTUSDT	+0.0100%	4h	0.0005021	−0.181%	$2.1M	$2.9M	50x	as long as short
Bybit NOTUSDTshort	+0.0100%	4h	0.0005017	−0.258%	$2.1M	$816K	25x
OKX NOT-USDT-SWAP	+0.0100%	4h	0.0005023	−0.139%	$643K	$652K	20x	as long as short
Gate NOT_USDTlong	+0.0100%	4h	0.0005030	long leg	$141K	$59K	50x
MEXC NOT_USDT	+0.0100%	4h	0.0005021	−0.179%	$1.3M	$450K	200x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin NOTUSDTM	+0.0100%	4h	0.0005017	−0.258%	$487K	$130K	50x	as long as short
Bitget NOTUSDT	+0.0100%	4h	0.0005027	−0.060%	$673K	$469K	50x	as long as short
BingX NOT-USDT	+0.0100%	4h	0.0005026	−0.080%	—	$8.5M	—	as long as short
Variational Omni NOT	+0.0100%	4h	0.0005022	−0.153%	$71K	$38K	—	as long as short
Extended kNOT-USD	+0.0104%	1h	0.0005019	−0.210%	$4K	—	5x	as long as short
Kraken Futures PF_NOTUSD	+0.0446%	1h	0.0005024	−0.124%	$49K	$5K	10x	as long as short