Funding arb · Price arb /

SEI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0132%/8h= +14.5% APRpaid last 24h +0.067%

Price spread now: Gate against Coinbase International−1.838%7-day average +0.057% · you buy dearer than you sell

Net, funding: paid 7d − costs−$108as in the Funding arb table

Net, price: spread back to 7d avg − costs−$343as in the Price arb table

costs, in and out, $10k−$1531.534% of the position

Long on Coinbase International Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.456%+$46 on $10k

Price spread, last 4 days (all we have)+1.848%+$185 · spread now −1.838%, 7d avg +0.057%

Together, before fees+2.304%+$230 on $10k · with fees, hour by hour

Funding pays, the price is against you. Gate is 1.895% cheaper against Coinbase International than usual: you would sell low and buy high (spread −1.838% now, against its 7-day average of +0.057%). If the spread goes back, that is −$189 on $10k: about 48 days of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International SEI-PERP-INTX	0.06149	−0.0032	get 0.0004% / 1h	45m 14s	$43K	$223K	50x
Short	Gate SEI_USDT	0.06036	0.0100	get 0.0100% / 8h	4h 45m	$1.1M	$3.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Coinbase International. 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 Coinbase InternationalbpFee GatebpOrdersPrice spread, now −1.838%Rate

Funding earned: $27.72
Price spread: −1.838% → +0.057%: −$189.48
Slippage, 4 orders: −$128.43
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$315.19
Costs to cover: 1.534%
Break-even: 86.6 days

Slippage from Coinbase International: live order book, 13 min ago; Gate: live order book, 3 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 Coinbase International live order book, 13 min ago	15.58 bp	56.6 bp −$57	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 3 min ago	4.95 bp	22.2 bp −$22	55.4 bp −$554	doesn't fit	doesn't fit

SEI on 27 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
Variational Omni SEI	−0.0185%	8h	0.06054	−1.539%	$328K	$184K	—	as long as short
Coinbase International SEI-PERP-INTXlong	−0.0032%	1h	0.06149	long leg	$43K	$223K	50x
gTrade (Gains Network) SEI/USD	L −0.0006% / S +0.0006%	1h	0.06036	−1.830%	—	—	150x	as long as short
Deribit SEI_USDC-PERPETUAL	0.0000%	1h	0.06039	−1.789%	$10K	$72K	25x	as long as short
GMX SEI/USD [ETH-USDC]	L +0.0036% / S +0.0142%	1h	0.06037	−1.821%	$6K	—	100x	as long as short
Bybit SEIUSDT	+0.0088%	8h	0.06035	−1.854%	$14.5M	$36.2M	50x	as long as short
Lighter SEI	+0.0096%	1h	0.06041	−1.756%	$275K	$1.2M	10x	as long as short
Hyperliquid SEI	+0.0100%	1h	0.06037	−1.815%	$3.5M	$5.5M	5x	as long as short
Aster SEIUSDT	+0.0100%	8h	0.06042	−1.740%	$316K	$354K	20x	as long as short
Binance SEIUSDT	+0.0100%	8h	0.06041	−1.763%	$15.0M	$130.4M	75x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX SEI-USDT-SWAP	+0.0100%	4h	0.06045	−1.691%	$3.5M	$40.1M	50x	as long as short
Gate SEI_USDTshort	+0.0100%	8h	0.06036	−1.838%	$1.1M	$3.4M	75x
MEXC SEI_USDT	+0.0100%	8h	0.06037	−1.821%	$35.1M	$28.5M	300x	as long as short
KuCoin SEIUSDTM	+0.0100%	8h	0.06036	−1.838%	$6.5M	$14.5M	75x	as long as short
Bitget SEIUSDT	+0.0100%	8h	0.06036	−1.838%	$9.9M	$16.8M	75x	as long as short
BingX SEI-USDT	+0.0100%	8h	0.06036	−1.838%	—	$31.4M	—	as long as short
Backpack SEI_USDC_PERP	+0.0100%	1h	0.06062	−1.415%	$109K	$608K	10x	as long as short
GRVT SEI_USDT_Perp	+0.0100%	8h	0.06069	−1.301%	$206K	$1.8M	10x	as long as short
ApeX Omni SEIUSDT	+0.0100%	1h	0.06070	−1.285%	$109K	$668K	50x	as long as short
Orderly PERP_SEI_USDC	+0.0100%	8h	0.06037	−1.821%	$2K	$83K	20x	as long as short
SunX SEI-USDT	+0.0100%	8h	0.06043	−1.724%	$23K	$4.3M	30x	as long as short
Extended SEI-USD	+0.0104%	1h	0.06031	−1.917%	$78K	$547K	25x	as long as short
BloFin SEI-USDT	+0.0220%	8h	0.06038	−1.805%	$773K	$1.3M	75x	as long as short
Injective SEI/USDC PERP	+0.0267%	1h	0.06058	−1.480%	$9K	$43K	12x	as long as short
Kraken Futures PF_SEIUSD	+0.0314%	1h	0.06035	−1.854%	$373K	$1.5M	50x	as long as short
Reya SEIRUSDPERP	+0.0346%	1h	0.06035	−1.855%	$115	—	20x	as long as short
dYdX SEI-USD	+0.0570%	1h	0.06044	−1.701%	$103K	$2K	5x	as long as short