Funding arb · Price arb /

S

all S markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.1564%/8h= −171.3% APRpaid last 24h −0.611%

Price spread now: Coinbase International against Gate−1.639%7-day average — · you buy dearer than you sell

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

Long on Gate Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 5 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

Both sides work against this trade now: funding costs −$47 a day on $10k at the current rate, and Coinbase International is 1.639% cheaper against Gate than usual: you would sell low and buy high (−$164 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate S_USDT	0.04089	0.0100	pay 0.0050% / 4h	2h 23m	$337K	$205K	50x
Short	Coinbase International S-PERP-INTX	0.04022	−0.1464	pay 0.0183% / 1h	23m 59s	$48K	$16K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −1.639%Rate

Funding earned: −$328.44
Price spread: −1.639% → 0.000%: −$163.85
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$517.29
Costs to cover: 0.250%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 41 min ago; Coinbase International: 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 Gate live order book, 41 min ago	8.76 bp	57.9 bp −$58	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International no order-book sample	—	—	—	—	—

Coinbase International: 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 24 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	−0.8008%	1h	0.03950	−3.399%	$24K	$2K	5x	as long as short
Coinbase International S-PERP-INTXshort	−0.1464%	1h	0.04022	−1.639%	$48K	$16K	25x
Kraken Futures PF_SUSD	−0.1239%	1h	0.04088	−0.031%	$34K	$16K	10x	as long as short
Variational Omni S	−0.0462%	4h	0.04064	−0.603%	$632K	$30K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.04094	+0.115%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.04088	−0.016%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04094	+0.122%	$2K	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+0.269%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0045%	4h	0.04091	+0.049%	$103K	$331K	10x	as long as short
Lighter S	+0.0096%	1h	0.04095	+0.147%	$169K	$167K	5x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid S	+0.0100%	1h	0.04091	+0.061%	$1.0M	$568K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04093	+0.099%	$45K	$134K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.04090	+0.018%	$5.7M	$14.9M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.04084	−0.122%	$5.8M	$4.7M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.04090	+0.024%	$1.0M	$4.2M	20x	as long as short
Gate S_USDTlong	+0.0100%	4h	0.04089	long leg	$337K	$205K	50x
MEXC S_USDT	+0.0100%	4h	0.04090	+0.024%	$4.0M	$1.9M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.04089	0.000%	$1.9M	$2.7M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.04093	+0.098%	$1.2M	$2.4M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.04089	0.000%	—	$6.8M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.04070	−0.465%	$26K	$443K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.04088	−0.014%	$232K	$1.1M	10x	as long as short
Deribit S_USDC-PERPETUAL	+0.0239%	1h	0.04096	+0.171%	$69K	$10K	10x	as long as short
Backpack S_USDC_PERP	+0.1023%	1h	0.04100	+0.269%	$119K	$348K	5x	as long as short