Funding arb · Price arb /

ALICE

all ALICE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0482%/8h= −52.8% APRpaid last 24h −0.045%

Price spread now: Binance against Bybit−0.019%7-day average −0.116% · you buy dearer than you sell

Net, funding: paid 7d − costs−$310as in the Funding arb table

Net, price: spread back to 7d avg − costs−$297as in the Price arb table

costs, in and out, $10k−$3063.065% of the position

Long on Bybit Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.039%−$4 on $10k

Price spread, last 4 days (all we have)−0.077%−$8 · spread now −0.019%, 7d avg −0.116%

Together, before fees−0.116%−$12 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Binance is 0.097% dearer against Bybit than usual: you sell high and buy low (spread −0.019% now, against its 7-day average of −0.116%): +$10 on $10k if it goes back. Holding the pair costs −$14 a day in funding at the current rate, which eats that in about 16 hours. At the pace of the last 7 days (−0.039% in total) that is about 17 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.039% in total (about -2.0% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ALICEUSDT	0.1439	0.0582	pay 0.0582% / 8h	2h 38m	$652K	$187K	25x
Short	Binance ALICEUSDT	0.1439	0.0100	get 0.0050% / 4h	2h 38m	$2.3M	$2.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Bybit. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 BinancebpOrdersPrice spread, now −0.019%Rate

Funding earned: −$101.29
Price spread: −0.019% → −0.116%: $9.68
Slippage, 4 orders: −$285.49
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Binance: 5 bp × 2 orders: −$10
Net: −$398.09
Costs to cover: 3.065%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; Binance: live order book, 12 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, 2 min ago	11.11 bp	133.2 bp −$133	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 12 min ago	3.45 bp	19.8 bp −$20	97.4 bp −$974	doesn't fit	doesn't fit

ALICE on 11 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
BloFin ALICE-USDT	+0.0069%	4h	0.1437	−0.139%	$157K	$13K	50x	as long as short
Aster ALICEUSDT	+0.0100%	4h	0.1438	−0.057%	$9K	$537	5x	as long as short
Binance ALICEUSDTshort	+0.0100%	4h	0.1439	−0.019%	$2.3M	$2.8M	50x
MEXC ALICE_USDT	+0.0100%	4h	0.1438	−0.069%	$554K	$120K	50x	as long as short
KuCoin ALICEUSDTM	+0.0100%	4h	0.1438	−0.069%	$421K	$44K	30x	as long as short
Bitget ALICEUSDT	+0.0100%	4h	0.1438	−0.069%	$985K	$118K	50x	as long as short
BingX ALICE-USDT	+0.0100%	4h	0.1438	−0.069%	—	$1.3M	—	as long as short
Variational Omni ALICE	+0.0148%	8h	0.1443	+0.269%	$476	$477	—	as long as short
Gate ALICE_USDT	+0.0328%	8h	0.1439	0.000%	$91K	$94K	25x	as long as short
Bybit ALICEUSDTlong	+0.0582%	8h	0.1439	long leg	$652K	$187K	25x

Show all 11 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_ALICEUSD	+0.0832%	1h	0.1442	+0.204%	$33K	$4K	10x	as long as short