Funding arb · Price arb /

W

all W markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0355%/8h= −38.9% APRpaid last 24h −0.187%

Price spread now: Deribit against Bitget+0.067%7-day average — · you sell dearer than you buy

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

Long on Bitget Short on Deribit

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

The price spread pays, funding is against you. Deribit is 0.067% dearer against Bitget than usual: you sell high and buy low (spread +0.067% now, against zero (this spread has no 7-day history yet)): +$7 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 15 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget WUSDT	0.01187	0.0100	pay 0.0050% / 4h	1h 34m	$1.3M	$570K	50x
Short	Deribit W_USDC-PERPETUAL	0.01188	−0.0255	pay 0.0032% / 1h	34m 04s	$16K	$2K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.067%Rate

Funding earned: −$74.52
Price spread: +0.067% → 0.000%: $6.74
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$86.79
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Bitget: live order book, 2 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 Bitget live order book, 2 min ago	4.20 bp	31.4 bp −$31	206.9 bp −$2,069	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.

W on 17 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
Deribit W_USDC-PERPETUALshort	−0.0255%	1h	0.01188	+0.067%	$16K	$2K	10x
Injective W/USDC PERP	+0.0033%	1h	0.01209	+1.853%	$1K	$1K	12x	as long as short
Hyperliquid W	+0.0100%	1h	0.01187	0.000%	$2.0M	$383K	5x	as long as short
Binance WUSDT	+0.0100%	4h	0.01188	+0.047%	$3.0M	$6.6M	50x	as long as short
Bybit WUSDT	+0.0100%	4h	0.01187	−0.042%	$4.2M	$1.9M	50x	as long as short
OKX W-USDT-SWAP	+0.0100%	4h	0.01186	−0.067%	$1.3M	$1.9M	20x	as long as short
Gate W_USDT	+0.0100%	4h	0.01186	−0.118%	$449K	$253K	75x	as long as short
MEXC W_USDT	+0.0100%	4h	0.01187	+0.025%	$12.9M	$1.4M	50x	as long as short
KuCoin WUSDTM	+0.0100%	4h	0.01187	0.000%	$387K	$212K	50x	as long as short
Bitget WUSDTlong	+0.0100%	4h	0.01187	long leg	$1.3M	$570K	50x

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX W-USDT	+0.0100%	4h	0.01186	−0.059%	—	$6.9M	—	as long as short
Variational Omni W	+0.0100%	4h	0.01187	+0.014%	$71K	$41K	—	as long as short
GRVT W_USDT_Perp	+0.0100%	4h	0.01186	−0.087%	$127K	$404K	10x	as long as short
Extended W-USD	+0.0104%	1h	0.01187	+0.006%	$61K	$238K	5x	as long as short
Coinbase International W-PERP-INTX	+0.0312%	1h	0.01187	−0.042%	$14K	$16K	50x	as long as short
Backpack W_USDC_PERP	+0.0512%	1h	0.01189	+0.194%	$44K	$47K	15x	as long as short
Kraken Futures PF_WUSD	+0.1708%	1h	0.01190	+0.257%	$147K	$184K	20x	as long as short