Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bitget against Gate+0.150%7-day average +0.090% · you sell dearer than you buy

Net, funding: paid 7d − costs−$185as in the Funding arb table

Net, price: spread back to 7d avg − costs−$172as in the Price arb table

costs, in and out, $10k−$1781.780% of the position

Long on Gate Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.073%−$7 on $10k

Price spread, last 4 days (all we have)−0.068%−$7 · spread now +0.150%, 7d avg +0.090%

Together, before fees−0.140%−$14 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: Bitget is 0.060% dearer against Gate than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of +0.090%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate S_USDT	0.03998	0.0100	pay 0.0050% / 4h	3h 15m	$326K	$218K	50x
Short	Bitget SUSDT	0.04004	0.0100	get 0.0050% / 4h	3h 15m	$1.2M	$2.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.150%Rate

Funding earned: $0
Price spread: +0.150% → +0.090%: $5.99
Slippage, 4 orders: −$150.99
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$171.99
Costs to cover: 1.780%
Break-even: never at this rate

Slippage from Gate: live order book, 55 min ago; Bitget: 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, 55 min ago	8.92 bp	74.4 bp −$74	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 2 min ago	5.01 bp	19.5 bp −$20	60.1 bp −$601	doesn't fit	doesn't fit

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
Kraken Futures PF_SUSD	−0.2020%	1h	0.03999	+0.031%	$34K	$23K	10x	as long as short
01 Exchange SUSD	−0.2008%	1h	0.04000	+0.050%	$25K	$2K	5x	as long as short
Coinbase International S-PERP-INTX	−0.1240%	1h	0.03959	−0.975%	$49K	$5K	25x	as long as short
Variational Omni S	−0.0722%	4h	0.03990	−0.203%	$620K	$31K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.04003	+0.115%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.04002	+0.091%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04003	+0.129%	$617	—	150x	as long as short
Orderly PERP_S_USDC	+0.0026%	4h	0.04002	+0.100%	$102K	$331K	10x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+2.551%	$2K	$37K	12x	as long as short
Lighter S	+0.0096%	1h	0.04007	+0.225%	$164K	$192K	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	0.04003	+0.120%	$1.0M	$622K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04003	+0.116%	$44K	$141K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.04001	+0.080%	$5.5M	$15.7M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03997	−0.025%	$5.7M	$4.9M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.04000	+0.050%	$984K	$4.5M	20x	as long as short
Gate S_USDTlong	+0.0100%	4h	0.03998	long leg	$326K	$218K	50x
MEXC S_USDT	+0.0100%	4h	0.04001	+0.075%	$3.6M	$1.9M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.04003	+0.125%	$1.8M	$2.9M	50x	as long as short
Bitget SUSDTshort	+0.0100%	4h	0.04004	+0.150%	$1.2M	$2.4M	50x
BingX S-USDT	+0.0100%	4h	0.04003	+0.125%	—	$6.7M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03990	−0.200%	$26K	$444K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.04003	+0.128%	$224K	$1.1M	10x	as long as short
Backpack S_USDC_PERP	+0.0159%	1h	0.04010	+0.300%	$117K	$325K	5x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03997	−0.025%	$270K	$127K	75x	as long as short
Deribit S_USDC-PERPETUAL	+0.0749%	1h	0.04008	+0.250%	$67K	$10K	10x	as long as short