Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0106%/8h= −11.6% APRpaid last 24h −0.032%

Price spread now: gTrade (Gains Network) against BingX+0.136%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on BingX Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. gTrade (Gains Network) is 0.136% dearer against BingX than usual: you sell high and buy low (spread +0.136% now, against zero (this spread has no 7-day history yet)): +$14 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 4.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX S-USDT	0.03907	0.0100	pay 0.0050% / 4h	25m 09s	—	$6.7M	—
Short	gTrade (Gains Network) S/USD	0.03912	L +0.0001% / S +0.0006%	pay 0.0001% / 1h	25m 09s	$603	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against BingX. 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 BingXbpFee gTrade (Gains Network)bpOrdersPrice spread, now +0.136%Rate

Funding earned: −$22.28
Price spread: +0.136% → 0.000%: $13.64
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$28.64
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: BingX: live order book, 12 min ago; gTrade (Gains Network): no order-book sample. Net counts fees only.

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 BingX live order book, 12 min ago	5.12 bp	17.3 bp −$17	48.3 bp −$483	429.1 bp −$42.9K	721.5 bp −$360.8K
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

gTrade (Gains Network): no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

S on 25 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
01 Exchange SUSD	−0.6000%	1h	0.03840	−1.715%	$23K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.2134%	1h	0.03907	+0.011%	$33K	$25K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1336%	1h	0.03826	−2.073%	$47K	$5K	25x	as long as short
Variational Omni S	−0.0978%	4h	0.03906	−0.024%	$608K	$31K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0203% / S +0.0195%	1h	0.03912	+0.120%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03907	+0.007%	$4	—	15x	as long as short
gTrade (Gains Network) S/USDshort	L +0.0001% / S +0.0006%	1h	0.03912	+0.136%	$603	—	150x
Orderly PERP_S_USDC	+0.0029%	4h	0.03909	+0.051%	$100K	$339K	10x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+4.940%	$2K	$37K	12x	as long as short
Lighter S	+0.0096%	1h	0.03912	+0.128%	$164K	$217K	5x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid S	+0.0100%	1h	0.03910	+0.084%	$980K	$695K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.03921	+0.357%	$43K	$145K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.03905	−0.041%	$5.3M	$17.2M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03902	−0.128%	$5.6M	$5.3M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.03905	−0.051%	$977K	$4.9M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.03916	+0.230%	$319K	$259K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03906	−0.026%	$3.5M	$1.9M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03909	+0.051%	$1.8M	$2.9M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03912	+0.128%	$1.2M	$2.5M	50x	as long as short
BingX S-USDTlong	+0.0100%	4h	0.03907	long leg	—	$6.7M	—
Backpack S_USDC_PERP	+0.0100%	1h	0.03920	+0.333%	$114K	$312K	5x	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03910	+0.077%	$25K	$453K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03907	+0.001%	$220K	$877K	10x	as long as short
Deribit S_USDC-PERPETUAL	+0.0261%	1h	0.03914	+0.179%	$66K	$10K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03912	+0.128%	$267K	$125K	75x	as long as short