Funding arb · Price arb /

BOT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.1572%/8h= −172.1% APRpaid last 24h +0.089%

Price spread now: tradeXYZ against Bitget−0.224%7-day average −0.374% · you buy dearer than you sell

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

Long on Bitget Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.545%+$54 on $10k

Price spread, last 4 days (all we have)−0.587%−$59 · spread now −0.224%, 7d avg −0.374%

Together, before fees−0.043%+ Points / potential airdroptradeXYZ: Active · farm board−$4 on $10k · with fees, hour by hour

The price spread pays, funding is against you. tradeXYZ is 0.150% dearer against Bitget than usual: you sell high and buy low (spread −0.224% now, against its 7-day average of −0.374%): +$15 on $10k if it goes back. Holding the pair costs −$47 a day in funding at the current rate, which eats that in about 8 hours. Mind the row above: over the last 7 days funding on this pair paid +0.545%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.545% in total (about 28.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget BOTUSDT	29.420	0	get 0.0000% / 8h	3h 14m	$246K	$120K	5x
Short	tradeXYZ xyz:BOT	29.354	−0.1572	pay 0.0196% / 1h	14m 15s	$3.1M	$771K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ against Bitget. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 tradeXYZbpOrdersPrice spread, now −0.224%Rate

Funding earned: −$330.08
Price spread: −0.224% → −0.374%: $15
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$345.08
Costs to cover: 0.300%
Break-even: never at this rate

Slippage unknown: Bitget: live order book, 31 min ago; tradeXYZ: live order book, 3 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 Bitget live order book, 31 min ago	18.68 bp	56.1 bp −$56	67.8 bp −$678	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 3 min ago	3.24 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit

BOT on 12 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
tradeXYZ xyz:BOTshort	−0.1572%	1h	29.354	−0.224%	$3.1M	$771K	10x
OKX BOT-USDT-SWAP	−0.1020%	8h	29.360	−0.204%	$234K	$213K	20x	as long as short
KuCoin BOTUSDTM	−0.0996%	8h	29.340	−0.272%	$94K	$300K	20x	as long as short
Binance BOTUSDT	−0.0742%	8h	29.350	−0.238%	$450K	$1.2M	10x	as long as short
Variational Omni BOT	−0.0663%	8h	29.345	−0.255%	$31K	$14K	—	as long as short
QFEX BOT-USD	−0.0080%	1h	29.340	−0.272%	$1.2M	$505K	10x	as long as short
Bybit BOTUSDT	0.0000%	8h	29.340	−0.272%	$508K	$554K	25x	as long as short
Gate BOT_USDT	0.0000%	8h	29.370	−0.170%	$254K	$235K	20x	as long as short
Bitget BOTUSDTlong	0.0000%	8h	29.420	long leg	$246K	$120K	5x
Lighter BOT	+0.0032%	1h	29.518	+0.333%	$68K	$1K	3x	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus BOT-USD	+0.0040%	1h	29.320	−0.340%	$3K	$9K	5x	as long as short
HTX BOT-USDT	+0.0100%	8h	29.377	−0.146%	$3K	$34K	10x	as long as short