Funding arb · Price arb /

GLW

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0001%/8h= +0.1% APRpaid last 24h +0.042%

Price spread now: Paragon against Bitget−0.205%56s7-day average −0.061% · you buy dearer than you sell

Net, funding: paid 7d − costs−$102as 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−$1001.002% of the position

Long on Bitget Short on Paragon

What this pair did over the last

the charts below follow

Funding, last 7 days−0.020%−$2 on $10k

Price spread, last 4 days (all we have)+0.073%+$7 · spread now −0.205%, 7d avg −0.061%

Together, before fees+0.053%+$5 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: Paragon is 0.144% cheaper against Bitget than usual: you would sell low and buy high, −$14 on $10k if it goes back to its 7-day average of −0.061%. The two prices were read 56 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 GLWUSDT	159.78	0	get 0.0000% / 8h	1h 23m	$2.2M	$860K	20x
Short	Paragon para:GLW	159.45	0.0001	get 0.0000% / 1h	23m 48s	$317K	$27K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paragon 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 ParagonbpOrdersPrice spread, now −0.205%Rate

Funding earned: $0.15
Price spread: −0.205% → −0.061%: −$14.37
Slippage, 4 orders: −$78.19
Fee Bitget: 6 bp × 2 orders: −$12
Fee Paragon: 5 bp × 2 orders: −$10
Net: −$114.4
Costs to cover: 1.002%
Break-even: 5216.6 days

Slippage from Bitget: live order book, 3 min ago; Paragon: live order book, 52 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, 3 min ago	2.50 bp	15.7 bp −$16	22.1 bp −$221	doesn't fit	doesn't fit
Sell Paragon live order book, 52 min ago	12.55 bp	39.2 bp −$39	59.5 bp −$595	doesn't fit	doesn't fit

GLW 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
Aster GLWUSDT	0.0000%	8h	159.71	−0.043%	$41K	$1K	20x	as long as short
Bybit GLWUSDT	0.0000%	8h	159.77	−0.006%	$916K	$215K	25x	as long as short
Gate GLW_USDT	0.0000%	8h	159.63	−0.094%	$2.2M	$4.1M	50x	as long as short
Bitget GLWUSDTlong	0.0000%	8h	159.78	long leg	$2.2M	$860K	20x
SunX GLW-USDT	0.0000%	8h	159.74	−0.025%	$1K	$2.0M	10x	as long as short
HTX GLW-USDT	0.0000%	8h	159.83	+0.031%	$16K	$16K	20x	as long as short
Paragon para:GLWshort	+0.0001%	1h	159.45	−0.205%	$317K	$27K	10x
Vest GLW-USD-PERP	+0.0046%	1h	159.65	−0.081%	—	—	10x	as long as short
QFEX GLW-USD	+0.0050%	1h	159.79	+0.006%	$1.1M	$2.1M	10x	as long as short
Ondo Perps GLW-USD.P	+0.0050%	1h	159.53	−0.156%	$299K	$85K	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin GLWUSDTM	+0.0100%	8h	159.68	−0.063%	$318K	$979K	20x	as long as short
Orderly PERP_GLW_USDC_mythos	+0.0100%	8h	159.75	−0.019%	$2K	$2K	10x	as long as short
OKX GLW-USDT-SWAP	+0.0172%	8h	159.82	+0.025%	$2.3M	$4.4M	20x	as long as short
Binance GLWUSDT	+0.0308%	8h	159.81	+0.019%	$10.8M	$20.8M	20x	as long as short
Extended GLW-USD	+0.0312%	1h	159.78	−0.001%	$2K	$2K	10x	as long as short
BloFin GLW-USDT	+0.0329%	8h	159.85	+0.044%	$151K	$33K	20x	as long as short
GRVT GLW_USDT_Perp	+0.0420%	8h	159.81	+0.019%	$355	$185K	10x	as long as short