Funding arb · Price arb /

W

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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: Bitget against Gate+0.322%7-day average +0.072% · you sell dearer than you buy

Net, funding: paid 7d − costs−$723as in the Funding arb table

Net, price: spread back to 7d avg − costs−$704as in the Price arb table

costs, in and out, $10k−$7297.287% of the position

Long on Gate Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.057%+$6 on $10k

Price spread, last 4 days (all we have)−0.453%−$45 · spread now +0.322%, 7d avg +0.072%

Together, before fees−0.396%−$40 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: Bitget is 0.250% dearer against Gate than usual: you sell high and buy low, +$25 on $10k if it goes back to its 7-day average of +0.072%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate W_USDT	0.01180	0.0100	pay 0.0050% / 4h	4m 46s	$446K	$291K	75x
Short	Bitget WUSDT	0.01184	0.0100	get 0.0050% / 4h	4m 46s	$1.3M	$571K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.322%Rate

Funding earned: $0
Price spread: +0.322% → +0.072%: $25.04
Slippage, 4 orders: −$701.68
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$703.63
Costs to cover: 7.287%
Break-even: never at this rate

Slippage from Gate: live order book, 6 min ago; Bitget: live order book, 2 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, 6 min ago	8.48 bp	277.3 bp −$277	30705.3 bp −$307.1K	doesn't fit	doesn't fit
Sell Bitget live order book, 2 min ago	8.47 bp	25.3 bp −$25	66.4 bp −$664	doesn't fit	doesn't fit

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	0.0000%	1h	0.01184	+0.297%	$16K	$2K	10x	as long as short
OKX W-USDT-SWAP	+0.0032%	4h	0.01184	+0.322%	$1.3M	$2.0M	20x	as long as short
Injective W/USDC PERP	+0.0033%	1h	0.01209	+2.440%	$1K	$1K	12x	as long as short
Hyperliquid W	+0.0100%	1h	0.01185	+0.407%	$2.0M	$416K	5x	as long as short
Binance WUSDT	+0.0100%	4h	0.01185	+0.382%	$3.0M	$6.8M	50x	as long as short
Bybit WUSDT	+0.0100%	4h	0.01183	+0.246%	$4.1M	$1.9M	50x	as long as short
Gate W_USDTlong	+0.0100%	4h	0.01180	long leg	$446K	$291K	75x
MEXC W_USDT	+0.0100%	4h	0.01185	+0.398%	$12.8M	$1.5M	50x	as long as short
KuCoin WUSDTM	+0.0100%	4h	0.01183	+0.237%	$465K	$215K	50x	as long as short
Bitget WUSDTshort	+0.0100%	4h	0.01184	+0.322%	$1.3M	$571K	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	0.01184	+0.288%	—	$6.9M	—	as long as short
Variational Omni W	+0.0100%	4h	0.01179	−0.136%	$71K	$42K	—	as long as short
GRVT W_USDT_Perp	+0.0100%	4h	0.01182	+0.183%	$127K	$377K	10x	as long as short
Extended W-USD	+0.0104%	1h	0.01184	+0.319%	$59K	$228K	5x	as long as short
Coinbase International W-PERP-INTX	+0.0248%	1h	0.01183	+0.229%	$14K	$16K	50x	as long as short
Backpack W_USDC_PERP	+0.0488%	1h	0.01185	+0.373%	$44K	$46K	15x	as long as short
Kraken Futures PF_WUSD	+0.0717%	1h	0.01186	+0.469%	$147K	$181K	20x	as long as short