Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0769%/8h= +84.3% APRpaid last 24h +0.171%

Price spread now: Gate against Deribit−0.151%7-day average — · you buy dearer than you sell

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

Long on Deribit Short on Gate

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

Funding pays, the price is against you. Gate is 0.151% cheaper against Deribit than usual: you would sell low and buy high (spread −0.151% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$15 on $10k: about 16 hours of funding at the current rate (+$23 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit W_USDC-PERPETUAL	0.01195	−0.0669	get 0.0084% / 1h	8m 35s	$16K	$2K	10x
Short	Gate W_USDT	0.01193	0.0100	get 0.0050% / 4h	3h 08m	$450K	$284K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Deribit. 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 DeribitbpFee GatebpOrdersPrice spread, now −0.151%Rate

Funding earned: $161.6
Price spread: −0.151% → 0.000%: −$15.06
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Gate: 7.5 bp × 2 orders: −$15
Net: $124.53
Costs to cover: 0.220%
Break-even: 1.6 days

Slippage unknown: Deribit: no order-book sample; Gate: live order book, 62 min ago. 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 Deribit no order-book sample	—	—	—	—	—
Sell Gate live order book, 62 min ago	8.48 bp	400.3 bp −$400	doesn't fit	doesn't fit	doesn't fit

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-PERPETUALlong	−0.0669%	1h	0.01195	long leg	$16K	$2K	10x
Injective W/USDC PERP	+0.0033%	1h	0.01209	+1.155%	$1K	$1K	12x	as long as short
Hyperliquid W	+0.0100%	1h	0.01194	−0.100%	$2.0M	$404K	5x	as long as short
Binance WUSDT	+0.0100%	4h	0.01193	−0.166%	$3.0M	$6.7M	50x	as long as short
Bybit WUSDT	+0.0100%	4h	0.01193	−0.209%	$4.2M	$1.9M	50x	as long as short
OKX W-USDT-SWAP	+0.0100%	4h	0.01193	−0.167%	$1.3M	$2.0M	20x	as long as short
Gate W_USDTshort	+0.0100%	4h	0.01193	−0.151%	$450K	$284K	75x
MEXC W_USDT	+0.0100%	4h	0.01194	−0.117%	$12.9M	$1.5M	50x	as long as short
KuCoin WUSDTM	+0.0100%	4h	0.01196	+0.067%	$456K	$218K	50x	as long as short
Bitget WUSDT	+0.0100%	4h	0.01195	−0.017%	$1.3M	$569K	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX W-USDT	+0.0100%	4h	0.01194	−0.126%	—	$6.9M	—	as long as short
Variational Omni W	+0.0100%	4h	0.01193	−0.159%	$72K	$42K	—	as long as short
GRVT W_USDT_Perp	+0.0100%	4h	0.01194	−0.091%	$132K	$388K	10x	as long as short
Extended W-USD	+0.0104%	1h	0.01194	−0.082%	$60K	$240K	5x	as long as short
Coinbase International W-PERP-INTX	+0.0280%	1h	0.01197	+0.159%	$14K	$16K	50x	as long as short
Kraken Futures PF_WUSD	+0.1313%	1h	0.01198	+0.217%	$148K	$181K	20x	as long as short
Backpack W_USDC_PERP	+0.1408%	1h	0.01197	+0.142%	$45K	$47K	15x	as long as short