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 −0.006%

Price spread now: Bybit against Gate+0.098%7-day average −0.026% · you sell dearer than you buy

Net, funding: paid 7d − costs−$208as in the Funding arb table

Net, price: spread back to 7d avg − costs−$194as in the Price arb table

costs, in and out, $10k−$2072.068% of the position

Long on Gate Short on Bybit

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)+0.155%+$15 · spread now +0.098%, 7d avg −0.026%

Together, before fees+0.139%+$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: Bybit is 0.124% dearer against Gate than usual: you sell high and buy low, +$12 on $10k if it goes back to its 7-day average of −0.026%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate S_USDT	0.04062	0.0100	pay 0.0050% / 4h	48m 16s	$333K	$187K	50x
Short	Bybit SUSDT	0.04066	0.0100	get 0.0050% / 4h	48m 16s	$5.8M	$4.6M	50x

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 +0.098%Rate

Funding earned: $0
Price spread: +0.098% → −0.026%: $12.44
Slippage, 4 orders: −$180.83
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$194.38
Costs to cover: 2.068%
Break-even: never at this rate

Slippage from Gate: live order book, 7 min ago; Bybit: live order book, 5 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, 7 min ago	8.55 bp	67.1 bp −$67	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	1.23 bp	24.7 bp −$25	73.5 bp −$735	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
01 Exchange SUSD	−0.9488%	1h	0.03960	−2.511%	$25K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.2515%	1h	0.04059	−0.069%	$34K	$13K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1376%	1h	0.04022	−0.985%	$48K	$16K	25x	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.04073	+0.273%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.04067	+0.112%	$4	—	15x	as long as short
Variational Omni S	−0.0101%	4h	0.04080	+0.438%	$633K	$31K	—	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04072	+0.246%	$3K	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+0.935%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0058%	4h	0.04067	+0.123%	$101K	$307K	10x	as long as short
Lighter S	+0.0096%	1h	0.04068	+0.148%	$171K	$154K	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	0.04072	+0.244%	$1.0M	$549K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04066	+0.098%	$44K	$130K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.04069	+0.172%	$5.6M	$13.7M	75x	as long as short
Bybit SUSDTshort	+0.0100%	4h	0.04066	+0.098%	$5.8M	$4.6M	50x
OKX S-USDT-SWAP	+0.0100%	4h	0.04066	+0.098%	$1.1M	$3.9M	20x	as long as short
Gate S_USDTlong	+0.0100%	4h	0.04062	long leg	$333K	$187K	50x
MEXC S_USDT	+0.0100%	4h	0.04068	+0.148%	$3.9M	$1.7M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.04066	+0.098%	$1.9M	$2.7M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.04072	+0.246%	$1.2M	$2.2M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.04067	+0.123%	—	$6.7M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.04080	+0.443%	$25K	$453K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.04063	+0.035%	$233K	$1.1M	10x	as long as short
Deribit S_USDC-PERPETUAL	+0.0241%	1h	0.04072	+0.246%	$68K	$10K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.04058	−0.098%	$282K	$98K	75x	as long as short
Backpack S_USDC_PERP	+0.0602%	1h	0.04070	+0.197%	$118K	$395K	5x	as long as short