Funding arb · Price arb /

2Z

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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: Bybit against SunX−0.019%7-day average +0.009% · you buy dearer than you sell

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

Long on SunX Short on Bybit

What this pair did over the last

the charts below follow

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

Price spread, last 3 days (all we have)−0.004%$0 · spread now −0.019%, 7d avg +0.009%

Together, before fees−0.679%−$68 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 0.028% cheaper against SunX than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.009%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX 2Z-USDT	0.05183	0.0100	pay 0.0050% / 4h	2h 08m	$2K	$1.2M	20x
Short	Bybit 2ZUSDT	0.05182	0.0100	get 0.0050% / 4h	2h 08m	$682K	$962K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against SunX. 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 SunXbpFee BybitbpOrdersPrice spread, now −0.019%Rate

Funding earned: $0
Price spread: −0.019% → +0.009%: −$2.82
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$21.82
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 5 min ago; Bybit: live order book, 42 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 SunX live order book, 5 min ago	498.51 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 42 min ago	6.74 bp	22.4 bp −$22	429.4 bp −$4,294	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	−0.0565%	1h	0.05176	−0.135%	$45K	$32K	5x	as long as short
Injective 2Z/USDC PERP	+0.0033%	1h	0.04980	−3.917%	$867	$213	5.5x	as long as short
Lighter 2Z	+0.0096%	1h	0.05186	+0.058%	$16K	$8K	3x	as long as short
Hyperliquid 2Z	+0.0100%	1h	0.05178	−0.104%	$662K	$370K	3x	as long as short
Aster 2ZUSDT	+0.0100%	4h	0.05181	−0.047%	$12K	$57K	5x	as long as short
Pacifica 2Z	+0.0100%	1h	0.05179	−0.075%	$75K	$14K	3x	as long as short
Binance 2ZUSDT	+0.0100%	4h	0.05178	−0.105%	$2.1M	$2.3M	50x	as long as short
Bybit 2ZUSDTshort	+0.0100%	4h	0.05182	−0.019%	$682K	$962K	50x
OKX 2Z-USDT-SWAP	+0.0100%	4h	0.05180	−0.058%	$445K	$704K	20x	as long as short
Gate 2Z_USDT	+0.0100%	4h	0.05175	−0.154%	$90K	$70K	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	0.05182	−0.019%	$293K	$125K	50x	as long as short
KuCoin 2ZUSDTM	+0.0100%	4h	0.05178	−0.089%	$191K	$52K	50x	as long as short
Bitget 2ZUSDT	+0.0100%	4h	0.05179	−0.077%	$145K	$615K	50x	as long as short
BingX 2Z-USDT	+0.0100%	4h	0.05182	−0.019%	—	$6.5M	—	as long as short
Variational Omni 2Z	+0.0100%	4h	0.05185	+0.040%	$33K	$29K	—	as long as short
SunX 2Z-USDTlong	+0.0100%	4h	0.05183	long leg	$2K	$1.2M	20x
Kraken Futures PF_2ZUSD	+0.1050%	1h	0.05198	+0.294%	$6K	$3K	10x	as long as short