Funding arb · Price arb /

2Z

all 2Z markets

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 −0.002%

Price spread now: Bybit against Binance+0.155%7-day average +0.122% · you sell dearer than you buy

Net, funding: paid 7d − costs−$150as in the Funding arb table

Net, price: spread back to 7d avg − costs−$89as in the Price arb table

costs, in and out, $10k−$930.927% of the position

Long on Binance Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.576%−$58 on $10k

Price spread, last 4 days (all we have)−0.033%−$3 · spread now +0.155%, 7d avg +0.122%

Together, before fees−0.609%−$61 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: Bybit is 0.033% dearer against Binance than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.122%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance 2ZUSDT	0.05170	0.0100	pay 0.0050% / 4h	1h 51m	$2.0M	$2.4M	50x
Short	Bybit 2ZUSDT	0.05178	0.0100	get 0.0050% / 4h	1h 51m	$681K	$956K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Binance. 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 BinancebpFee BybitbpOrdersPrice spread, now +0.155%Rate

Funding earned: $0
Price spread: +0.155% → +0.122%: $3.3
Slippage, 4 orders: −$71.66
Fee Binance: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$89.36
Costs to cover: 0.927%
Break-even: never at this rate

Slippage from Binance: live order book, 13 min ago; Bybit: live order book, 14 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 Binance live order book, 13 min ago	1.94 bp	23.7 bp −$24	131.0 bp −$1,310	doesn't fit	doesn't fit
Sell Bybit live order book, 14 min ago	4.85 bp	24.9 bp −$25	406.8 bp −$4,068	doesn't fit	doesn't fit

2Z 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
Injective 2Z/USDC PERP	+0.0033%	1h	0.04980	−3.675%	$867	$213	5.5x	as long as short
Lighter 2Z	+0.0096%	1h	0.05178	+0.155%	$16K	$9K	3x	as long as short
Hyperliquid 2Z	+0.0100%	1h	0.05173	+0.056%	$644K	$416K	3x	as long as short
Aster 2ZUSDT	+0.0100%	4h	0.05174	+0.085%	$12K	$57K	5x	as long as short
Pacifica 2Z	+0.0100%	1h	0.05174	+0.070%	$75K	$13K	3x	as long as short
Binance 2ZUSDTlong	+0.0100%	4h	0.05170	long leg	$2.0M	$2.4M	50x
Bybit 2ZUSDTshort	+0.0100%	4h	0.05178	+0.155%	$681K	$956K	50x
OKX 2Z-USDT-SWAP	+0.0100%	4h	0.05176	+0.116%	$452K	$694K	20x	as long as short
Gate 2Z_USDT	+0.0100%	4h	0.05175	+0.097%	$92K	$74K	50x	as long as short
MEXC 2Z_USDT	+0.0100%	4h	0.05176	+0.116%	$304K	$114K	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin 2ZUSDTM	+0.0100%	4h	0.05174	+0.070%	$196K	$48K	50x	as long as short
Bitget 2ZUSDT	+0.0100%	4h	0.05177	+0.135%	$155K	$536K	50x	as long as short
BingX 2Z-USDT	+0.0100%	4h	0.05178	+0.155%	—	$6.5M	—	as long as short
Backpack 2Z_USDC_PERP	+0.0100%	1h	0.05172	+0.039%	$45K	$33K	5x	as long as short
Variational Omni 2Z	+0.0100%	4h	0.05173	+0.059%	$28K	$24K	—	as long as short
SunX 2Z-USDT	+0.0100%	4h	0.05174	+0.077%	$2K	$1.2M	20x	as long as short
Kraken Futures PF_2ZUSD	+0.3080%	1h	0.05187	+0.337%	$6K	$3K	10x	as long as short