Funding arb · Price arb /

2Z

all 2Z markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: SunX against Binance+0.038%56s7-day average +0.109% · you sell dearer than you buy

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

Long on Binance Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.111%+$11 on $10k

Price spread, last 4 days (all we have)+0.084%+$8 · spread now +0.038%, 7d avg +0.109%

Together, before fees+0.195%+$19 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: SunX is 0.071% cheaper against Binance than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of +0.109%. 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	Binance 2ZUSDT	0.05242	0.0100	pay 0.0050% / 4h	1h 59m	$2.1M	$2.1M	50x
Short	SunX 2Z-USDT	0.05244	0.0100	get 0.0050% / 4h	1h 59m	$2K	$1.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.038%Rate

Funding earned: $0
Price spread: +0.038% → +0.109%: −$7.1
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$25.1
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 5 min ago; SunX: 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 Binance live order book, 5 min ago	1.91 bp	26.4 bp −$26	176.2 bp −$1,762	doesn't fit	doesn't fit
Sell SunX live order book, 3 min ago	500.81 bp	doesn't fit	doesn't fit	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
Backpack 2Z_USDC_PERP	−0.0902%	1h	0.05234	−0.153%	$45K	$20K	5x	as long as short
Injective 2Z/USDC PERP	+0.0033%	1h	0.04980	−4.998%	$867	$213	5.5x	as long as short
Lighter 2Z	+0.0096%	1h	0.05247	+0.095%	$17K	$6K	3x	as long as short
Hyperliquid 2Z	+0.0100%	1h	0.05242	+0.008%	$659K	$350K	3x	as long as short
Aster 2ZUSDT	+0.0100%	4h	0.05244	+0.029%	$12K	$57K	5x	as long as short
Pacifica 2Z	+0.0100%	1h	0.05240	−0.038%	$75K	$15K	3x	as long as short
Binance 2ZUSDTlong	+0.0100%	4h	0.05242	long leg	$2.1M	$2.1M	50x
Bybit 2ZUSDT	+0.0100%	4h	0.05241	−0.019%	$713K	$948K	50x	as long as short
OKX 2Z-USDT-SWAP	+0.0100%	4h	0.05241	−0.019%	$444K	$714K	20x	as long as short
Gate 2Z_USDT	+0.0100%	4h	0.05236	−0.114%	$90K	$64K	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC 2Z_USDT	+0.0100%	4h	0.05244	+0.038%	$341K	$130K	50x	as long as short
KuCoin 2ZUSDTM	+0.0100%	4h	0.05245	+0.052%	$180K	$52K	50x	as long as short
Bitget 2ZUSDT	+0.0100%	4h	0.05241	−0.019%	$154K	$647K	50x	as long as short
BingX 2Z-USDT	+0.0100%	4h	0.05242	0.000%	—	$6.5M	—	as long as short
Variational Omni 2Z	+0.0100%	4h	0.05242	−0.009%	$33K	$23K	—	as long as short
SunX 2Z-USDTshort	+0.0100%	4h	0.05244	+0.038%	$2K	$1.1M	20x
Kraken Futures PF_2ZUSD	+0.0511%	1h	0.05214	−0.544%	$5K	$3K	10x	as long as short