Funding arb · Price arb /

SQD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Binance against Bitget+0.216%7-day average +0.137% · you sell dearer than you buy

Net, funding: paid 7d − costs−$142as in the Funding arb table

Net, price: spread back to 7d avg − costs−$134as in the Price arb table

costs, in and out, $10k−$1421.418% of the position

Long on Bitget Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)−0.118%−$12 · spread now +0.216%, 7d avg +0.137%

Together, before fees−0.118%−$12 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: Binance is 0.079% dearer against Bitget than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of +0.137%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget SQDUSDT	0.02906	0.0100	pay 0.0050% / 4h	3h 55m	$743K	$54K	25x
Short	Binance SQDUSDT	0.02912	0.0100	get 0.0050% / 4h	3h 55m	$1.2M	$1.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Bitget. 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 BitgetbpFee BinancebpOrdersPrice spread, now +0.216%Rate

Funding earned: $0
Price spread: +0.216% → +0.137%: $7.9
Slippage, 4 orders: −$119.85
Fee Bitget: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$133.95
Costs to cover: 1.418%
Break-even: never at this rate

Slippage from Bitget: live order book, 60 min ago; Binance: live order book, 7 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 Bitget live order book, 60 min ago	8.60 bp	26.9 bp −$27	283.7 bp −$2,837	doesn't fit	doesn't fit
Sell Binance live order book, 7 min ago	3.42 bp	46.7 bp −$47	164.8 bp −$1,648	doesn't fit	doesn't fit

SQD on 10 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
Aster SQDUSDT	+0.0100%	4h	0.02908	+0.076%	$15K	$1K	5x	as long as short
Binance SQDUSDTshort	+0.0100%	4h	0.02912	+0.216%	$1.2M	$1.3M	50x
Bybit SQDUSDT	+0.0100%	4h	0.02902	−0.138%	$901K	$368K	20x	as long as short
Gate SQD_USDT	+0.0100%	4h	0.02905	−0.034%	$612K	$29K	20x	as long as short
MEXC SQD_USDT	+0.0100%	4h	0.02912	+0.206%	$5.9M	$180K	50x	as long as short
KuCoin SQDUSDTM	+0.0100%	4h	0.02908	+0.069%	$403K	$1.3M	50x	as long as short
Bitget SQDUSDTlong	+0.0100%	4h	0.02906	long leg	$743K	$54K	25x
BingX SQD-USDT	+0.0100%	4h	0.02905	−0.034%	—	$2.3M	—	as long as short
Variational Omni SQD	+0.0100%	4h	0.02902	−0.138%	$7K	$41K	—	as long as short
BloFin SQD-USDT	+0.0153%	4h	0.02917	+0.379%	$81K	$42K	50x	as long as short