Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0415%/8h= +45.4% APRpaid last 24h −0.065%

Price spread now: Deribit against Gate+0.076%7-day average — · you sell dearer than you buy

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

Long on Gate Short on Deribit

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

Both sides work for this trade now. Funding pays +$12 a day on $10k at the current rate, and Deribit is 0.076% dearer against Gate than usual: you sell high and buy low: +$8 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate S_USDT	0.03923	0.0100	pay 0.0050% / 4h	1h 31m	$320K	$265K	50x
Short	Deribit S_USDC-PERPETUAL	0.03926	0.0515	get 0.0064% / 1h	31m 15s	$66K	$10K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.076%Rate

Funding earned: $87.09
Price spread: +0.076% → 0.000%: $7.65
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $72.74
Costs to cover: 0.220%
Break-even: 1.2 days

Slippage unknown: Gate: live order book, 49 min ago; Deribit: 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, 49 min ago	7.65 bp	76.9 bp −$77	doesn't fit	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: 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
Kraken Futures PF_SUSD	−0.1595%	1h	0.03918	−0.115%	$33K	$26K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1576%	1h	0.03826	−2.473%	$47K	$5K	25x	as long as short
Variational Omni S	−0.0880%	4h	0.03922	−0.024%	$610K	$31K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0195% / S +0.0189%	1h	0.03925	+0.038%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03921	−0.044%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03924	+0.036%	$605	—	150x	as long as short
Orderly PERP_S_USDC	+0.0026%	4h	0.03921	−0.051%	$100K	$345K	10x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+4.512%	$2K	$37K	12x	as long as short
Aster SUSDT	+0.0086%	4h	0.03924	+0.033%	$43K	$212K	10x	as long as short
Lighter S	+0.0096%	1h	0.03925	+0.051%	$164K	$223K	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	0.03923	−0.005%	$985K	$757K	5x	as long as short
Binance SUSDT	+0.0100%	4h	0.03921	−0.060%	$5.3M	$19.6M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03915	−0.204%	$5.6M	$5.7M	50x	as long as short
OKX S-USDT-SWAP	+0.0100%	4h	0.03919	−0.102%	$977K	$6.1M	20x	as long as short
Gate S_USDTlong	+0.0100%	4h	0.03923	long leg	$320K	$265K	50x
MEXC S_USDT	+0.0100%	4h	0.03922	−0.025%	$3.6M	$2.3M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03920	−0.076%	$1.8M	$3.0M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03923	0.000%	$1.2M	$2.7M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03922	−0.025%	—	$6.7M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03930	+0.178%	$25K	$464K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03920	−0.081%	$221K	$881K	10x	as long as short
01 Exchange SUSD	+0.0128%	1h	0.03920	−0.076%	$24K	$2K	5x	as long as short
Backpack S_USDC_PERP	+0.0335%	1h	0.03930	+0.178%	$114K	$300K	5x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03921	−0.051%	$267K	$126K	75x	as long as short
Deribit S_USDC-PERPETUALshort	+0.0515%	1h	0.03926	+0.076%	$66K	$10K	10x