Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0284%/8h= +31.1% APRpaid last 24h +0.041%

Price spread now: Coinbase International against Gate+0.962%7-day average — · you sell dearer than you buy

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

Long on Gate Short on Coinbase International

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

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Coinbase International is 0.962% dearer against Gate than usual: you sell high and buy low: +$96 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate W_USDT	0.01175	0.0100	pay 0.0050% / 4h	3h 54m	$428K	$217K	75x
Short	Coinbase International W-PERP-INTX	0.01186	0.0384	get 0.0048% / 1h	54m 53s	$13K	$13K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.962%Rate

Funding earned: $59.64
Price spread: +0.962% → 0.000%: $96.2
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $130.84
Costs to cover: 0.250%
Break-even: from the start

Slippage unknown: Gate: live order book, 41 min ago; Coinbase International: 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 Gate live order book, 41 min ago	9.39 bp	185.6 bp −$186	5397.2 bp −$54.0K	doesn't fit	doesn't fit
Sell Coinbase International no order-book sample	—	—	—	—	—

Coinbase International: 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-PERPETUAL	0.0000%	1h	0.01176	+0.136%	$14K	$4K	10x	as long as short
Injective W/USDC PERP	+0.0033%	1h	0.01209	+2.929%	$1K	$1K	12x	as long as short
Hyperliquid W	+0.0100%	1h	0.01177	+0.204%	$2.0M	$276K	5x	as long as short
Binance WUSDT	+0.0100%	4h	0.01178	+0.247%	$3.0M	$5.1M	50x	as long as short
Bybit WUSDT	+0.0100%	4h	0.01176	+0.111%	$4.1M	$1.5M	50x	as long as short
OKX W-USDT-SWAP	+0.0100%	4h	0.01177	+0.204%	$1.3M	$1.5M	20x	as long as short
Gate W_USDTlong	+0.0100%	4h	0.01175	long leg	$428K	$217K	75x
MEXC W_USDT	+0.0100%	4h	0.01178	+0.255%	$12.3M	$1.3M	50x	as long as short
KuCoin WUSDTM	+0.0100%	4h	0.01176	+0.119%	$387K	$190K	50x	as long as short
Bitget WUSDT	+0.0100%	4h	0.01178	+0.289%	$1.3M	$546K	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	0.01177	+0.196%	—	$6.7M	—	as long as short
Variational Omni W	+0.0100%	4h	0.01175	+0.001%	$71K	$41K	—	as long as short
GRVT W_USDT_Perp	+0.0100%	4h	0.01178	+0.286%	$126K	$387K	10x	as long as short
Extended W-USD	+0.0104%	1h	0.01178	+0.249%	$59K	$388K	5x	as long as short
Coinbase International W-PERP-INTXshort	+0.0384%	1h	0.01186	+0.962%	$13K	$13K	50x
Backpack W_USDC_PERP	+0.0595%	1h	0.01178	+0.298%	$46K	$52K	15x	as long as short
Kraken Futures PF_WUSD	+0.0898%	1h	0.01178	+0.317%	$147K	$53K	20x	as long as short