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: SunX against Bybit−0.038%46s7-day average −0.008% · you buy dearer than you sell

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

Long on Bybit Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.675%+$67 on $10k

Price spread, last 4 days (all we have)+0.069%+$7 · spread now −0.038%, 7d avg −0.008%

Together, before fees+0.744%+$74 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 0.031% cheaper against Bybit than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.008%. The two prices were read 46 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	Bybit 2ZUSDT	0.05233	0.0100	pay 0.0050% / 4h	26m 37s	$690K	$978K	50x
Short	SunX 2Z-USDT	0.05231	0.0100	get 0.0050% / 4h	26m 37s	$1K	$1.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.038%Rate

Funding earned: $0
Price spread: −0.038% → −0.008%: −$3.07
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee SunX: 4 bp × 2 orders: −$8
Net: −$22.07
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 14 min ago; SunX: live order book, 7 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 Bybit live order book, 14 min ago	4.80 bp	26.2 bp −$26	1636.5 bp −$16.4K	doesn't fit	doesn't fit
Sell SunX live order book, 7 min ago	501.15 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	−0.0674%	1h	0.05228	−0.096%	$46K	$29K	5x	as long as short
Injective 2Z/USDC PERP	+0.0033%	1h	0.04980	−4.835%	$867	$213	5.5x	as long as short
Lighter 2Z	+0.0096%	1h	0.05238	+0.096%	$17K	$8K	3x	as long as short
Hyperliquid 2Z	+0.0100%	1h	0.05238	+0.097%	$676K	$367K	3x	as long as short
Aster 2ZUSDT	+0.0100%	4h	0.05236	+0.058%	$12K	$57K	5x	as long as short
Pacifica 2Z	+0.0100%	1h	0.05234	+0.025%	$75K	$14K	3x	as long as short
Binance 2ZUSDT	+0.0100%	4h	0.05230	−0.055%	$2.1M	$2.2M	50x	as long as short
Bybit 2ZUSDTlong	+0.0100%	4h	0.05233	long leg	$690K	$978K	50x
OKX 2Z-USDT-SWAP	+0.0100%	4h	0.05234	+0.019%	$450K	$723K	20x	as long as short
Gate 2Z_USDT	+0.0100%	4h	0.05230	−0.057%	$91K	$65K	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	0.05234	+0.019%	$293K	$126K	50x	as long as short
KuCoin 2ZUSDTM	+0.0100%	4h	0.05232	−0.027%	$193K	$53K	50x	as long as short
Bitget 2ZUSDT	+0.0100%	4h	0.05232	−0.019%	$157K	$634K	50x	as long as short
BingX 2Z-USDT	+0.0100%	4h	0.05233	0.000%	—	$6.5M	—	as long as short
Variational Omni 2Z	+0.0100%	4h	0.05225	−0.151%	$33K	$29K	—	as long as short
SunX 2Z-USDTshort	+0.0100%	4h	0.05231	−0.038%	$1K	$1.2M	20x
Kraken Futures PF_2ZUSD	+0.0797%	1h	0.05239	+0.115%	$5K	$3K	10x	as long as short