Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: BingX against Gate+0.180%7-day average +0.037% · you sell dearer than you buy

Net, funding: paid 7d − costs−$567as in the Funding arb table

Net, price: spread back to 7d avg − costs−$559as in the Price arb table

costs, in and out, $10k−$5735.729% of the position

Long on Gate Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.056%+$6 on $10k

Price spread, last 4 days (all we have)−0.257%−$26 · spread now +0.180%, 7d avg +0.037%

Together, before fees−0.201%−$20 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: BingX is 0.143% dearer against Gate than usual: you sell high and buy low, +$14 on $10k if it goes back to its 7-day average of +0.037%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate W_USDT	0.01169	0.0100	pay 0.0050% / 4h	2h 28m	$443K	$301K	75x
Short	BingX W-USDT	0.01171	0.0100	get 0.0050% / 4h	2h 28m	—	$6.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now +0.180%Rate

Funding earned: $0
Price spread: +0.180% → +0.037%: $14.25
Slippage, 4 orders: −$547.89
Fee Gate: 7.5 bp × 2 orders: −$15
Fee BingX: 5 bp × 2 orders: −$10
Net: −$558.64
Costs to cover: 5.729%
Break-even: never at this rate

Slippage from Gate: live order book, 57 min ago; BingX: live order book, 5 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 Gate live order book, 57 min ago	8.09 bp	202.6 bp −$203	30587.8 bp −$305.9K	doesn't fit	doesn't fit
Sell BingX live order book, 5 min ago	2.56 bp	24.5 bp −$24	60.4 bp −$604	575.5 bp −$57.6K	1098.1 bp −$549.0K

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-PERPETUAL	−0.0177%	1h	0.01171	+0.231%	$17K	$1K	10x	as long as short
OKX W-USDT-SWAP	+0.0009%	4h	0.01170	+0.128%	$1.3M	$2.1M	20x	as long as short
Injective W/USDC PERP	+0.0033%	1h	0.01209	+3.457%	$1K	$1K	12x	as long as short
Hyperliquid W	+0.0100%	1h	0.01171	+0.205%	$2.0M	$461K	5x	as long as short
Binance WUSDT	+0.0100%	4h	0.01171	+0.213%	$3.0M	$7.6M	50x	as long as short
Bybit WUSDT	+0.0100%	4h	0.01170	+0.077%	$4.1M	$2.0M	50x	as long as short
Gate W_USDTlong	+0.0100%	4h	0.01169	long leg	$443K	$301K	75x
MEXC W_USDT	+0.0100%	4h	0.01171	+0.197%	$12.8M	$1.7M	50x	as long as short
KuCoin WUSDTM	+0.0100%	4h	0.01168	−0.051%	$414K	$217K	50x	as long as short
Bitget WUSDT	+0.0100%	4h	0.01171	+0.205%	$1.2M	$573K	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-USDTshort	+0.0100%	4h	0.01171	+0.180%	—	$6.9M	—
Backpack W_USDC_PERP	+0.0100%	1h	0.01171	+0.214%	$43K	$47K	15x	as long as short
Variational Omni W	+0.0100%	4h	0.01167	−0.107%	$71K	$42K	—	as long as short
GRVT W_USDT_Perp	+0.0100%	4h	0.01169	+0.074%	$122K	$409K	10x	as long as short
Extended W-USD	+0.0104%	1h	0.01171	+0.201%	$59K	$276K	5x	as long as short
Coinbase International W-PERP-INTX	+0.0296%	1h	0.01172	+0.265%	$14K	$18K	50x	as long as short
Kraken Futures PF_WUSD	+0.0620%	1h	0.01174	+0.463%	$145K	$185K	20x	as long as short