Funding arb · Price arb /

BE

RWAall BE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0008%/8h= +0.9% APRpaid last 24h +0.046%

Price spread now: Coinbase International against Bitget−0.062%57s7-day average −0.246% · you buy dearer than you sell

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$580.577% of the position

Long on Bitget Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.193%+$19 on $10k

Price spread, last 3 days (all we have)+0.089%+$9 · spread now −0.062%, 7d avg −0.246%

Together, before fees+0.281%+$28 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: Coinbase International is 0.184% dearer against Bitget than usual: you sell high and buy low, +$18 on $10k if it goes back to its 7-day average of −0.246%. The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget BEUSDT	272.41	0	get 0.0000% / 8h	2h 03m	$1.7M	$2.7M	20x
Short	Coinbase International BE-PERP-INTX	272.24	0.0008	get 0.0001% / 1h	3m 20s	$467K	$121K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.062%Rate

Funding earned: $1.68
Price spread: −0.062% → −0.246%: $18.39
Slippage, 4 orders: −$35.75
Fee Bitget: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$37.68
Costs to cover: 0.577%
Break-even: 164.0 days

Slippage from Bitget: live order book, 4 min ago; Coinbase International: live order book, 20 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 Bitget live order book, 4 min ago	2.20 bp	17.9 bp −$18	26.1 bp −$261	doesn't fit	doesn't fit
Sell Coinbase International live order book, 20 min ago	5.14 bp	10.8 bp −$11	23.0 bp −$230	doesn't fit	doesn't fit

BE on 21 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
Aster BEUSDT	0.0000%	8h	272.95	+0.198%	$343K	$116K	20x	as long as short
Extended BE-USD	0.0000%	1h	272.55	+0.051%	$46K	$270K	10x	as long as short
Binance BEUSDT	0.0000%	8h	272.58	+0.062%	$8.5M	$37.4M	25x	as long as short
Bybit BEUSDT	0.0000%	8h	272.60	+0.070%	$2.0M	$1.2M	25x	as long as short
Gate BE_USDT	0.0000%	8h	272.40	−0.004%	$1.5M	$3.8M	50x	as long as short
Bitget BEUSDTlong	0.0000%	8h	272.41	long leg	$1.7M	$2.7M	20x
GRVT BE_USDT_Perp	0.0000%	8h	272.72	+0.115%	$7K	$200K	10x	as long as short
SunX BE-USDT	0.0000%	8h	272.62	+0.077%	$1K	$2.6M	10x	as long as short
HTX BE-USDT	0.0000%	8h	272.67	+0.095%	$12K	$33K	20x	as long as short
OKX BE-USDT-SWAP	+0.0001%	8h	272.69	+0.103%	$2.6M	$6.7M	25x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International BE-PERP-INTXshort	+0.0008%	1h	272.24	−0.062%	$467K	$121K	10x
Lighter BE	+0.0032%	1h	272.30	−0.040%	—	—	10x	as long as short
Lighter RH BE	+0.0032%	1h	272.52	+0.040%	$248K	$481K	10x	as long as short
QFEX BE-USD	+0.0038%	1h	272.51	+0.037%	$1.3M	$3.7M	10x	as long as short
Arcus BE-USD	+0.0040%	1h	272.43	+0.007%	$114K	$134K	10x	as long as short
Vest BE-USD-PERP	+0.0046%	1h	272.45	+0.015%	—	—	10x	as long as short
KuCoin BEUSDTM	+0.0100%	8h	272.63	+0.081%	$367K	$24K	20x	as long as short
Aevo BE-PERP	+0.0104%	1h	272.60	+0.070%	—	—	10x	as long as short
tradeXYZ xyz:BE	+0.0118%	1h	272.54	+0.048%	$5.8M	$2.9M	10x	as long as short
BloFin BE-USDT	+0.0120%	8h	272.63	+0.081%	$45K	$141K	20x	as long as short
Deribit BE_USDC-PERPETUAL	+0.0741%	1h	272.65	+0.088%	$6K	$4K	10x	as long as short