Funding arb · Price arb /

2Z

all 2Z markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.003%

Price spread now: Bitget against Bybit+0.019%7-day average −0.065% · you sell dearer than you buy

Net, funding: paid 7d − costs−$30as in the Funding arb table

Net, price: spread back to 7d avg − costs−$83as in the Price arb table

costs, in and out, $10k−$910.910% of the position

Long on Bybit Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.606%+$61 on $10k

Price spread, last 4 days (all we have)−0.039%−$4 · spread now +0.019%, 7d avg −0.065%

Together, before fees+0.566%+$57 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: Bitget is 0.084% dearer against Bybit than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of −0.065%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit 2ZUSDT	0.05231	0.0100	pay 0.0050% / 4h	1h 18m	$685K	$959K	50x
Short	Bitget 2ZUSDT	0.05232	0.0100	get 0.0050% / 4h	1h 18m	$157K	$632K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Bybit. 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 BybitbpFee BitgetbpOrdersPrice spread, now +0.019%Rate

Funding earned: $0
Price spread: +0.019% → −0.065%: $8.37
Slippage, 4 orders: −$67.98
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$82.61
Costs to cover: 0.910%
Break-even: never at this rate

Slippage from Bybit: live order book, 27 min ago; Bitget: live order book, 42 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 Bybit live order book, 27 min ago	3.86 bp	23.5 bp −$23	1429.8 bp −$14.3K	doesn't fit	doesn't fit
Sell Bitget live order book, 42 min ago	9.65 bp	22.6 bp −$23	149.1 bp −$1,491	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	−0.0390%	1h	0.05223	−0.153%	$45K	$29K	5x	as long as short
Injective 2Z/USDC PERP	+0.0033%	1h	0.04980	−4.798%	$867	$213	5.5x	as long as short
Lighter 2Z	+0.0096%	1h	0.05238	+0.134%	$17K	$8K	3x	as long as short
Hyperliquid 2Z	+0.0100%	1h	0.05228	−0.048%	$667K	$368K	3x	as long as short
Aster 2ZUSDT	+0.0100%	4h	0.05232	+0.019%	$12K	$57K	5x	as long as short
Pacifica 2Z	+0.0100%	1h	0.05232	+0.011%	$75K	$14K	3x	as long as short
Binance 2ZUSDT	+0.0100%	4h	0.05226	−0.103%	$2.1M	$2.3M	50x	as long as short
Bybit 2ZUSDTlong	+0.0100%	4h	0.05231	long leg	$685K	$959K	50x
OKX 2Z-USDT-SWAP	+0.0100%	4h	0.05231	0.000%	$452K	$709K	20x	as long as short
Gate 2Z_USDT	+0.0100%	4h	0.05229	−0.038%	$91K	$68K	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	0.05230	−0.019%	$296K	$125K	50x	as long as short
KuCoin 2ZUSDTM	+0.0100%	4h	0.05230	−0.019%	$193K	$52K	50x	as long as short
Bitget 2ZUSDTshort	+0.0100%	4h	0.05232	+0.019%	$157K	$632K	50x
BingX 2Z-USDT	+0.0100%	4h	0.05231	0.000%	—	$6.5M	—	as long as short
Variational Omni 2Z	+0.0100%	4h	0.05241	+0.182%	$33K	$29K	—	as long as short
SunX 2Z-USDT	+0.0100%	4h	0.05233	+0.038%	$2K	$1.2M	20x	as long as short
Kraken Futures PF_2ZUSD	+0.2481%	1h	0.05236	+0.096%	$6K	$3K	10x	as long as short