Funding arb · Price arb /

ALICE

all ALICE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0654%/8h= −71.6% APRpaid last 24h −0.050%

Price spread now: BloFin against Bybit−0.034%7-day average −0.117% · you buy dearer than you sell

Net, funding: paid 7d − costs−$282as in the Funding arb table

Net, price: spread back to 7d avg − costs−$269as in the Price arb table

costs, in and out, $10k−$2772.773% of the position

Long on Bybit Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.051%−$5 on $10k

Price spread, last 4 days (all we have)−0.039%−$4 · spread now −0.034%, 7d avg −0.117%

Together, before fees−0.089%−$9 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BloFin is 0.083% dearer against Bybit than usual: you sell high and buy low (spread −0.034% now, against its 7-day average of −0.117%): +$8 on $10k if it goes back. Holding the pair costs −$20 a day in funding at the current rate, which eats that in about 10 hours. At the pace of the last 7 days (−0.051% in total) that is about 11 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.051% in total (about -2.6% 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	0.1452	0.0713	pay 0.0713% / 8h	4h 24m	$647K	$179K	25x
Short	BloFin ALICE-USDT	0.1452	0.0059	get 0.0029% / 4h	24m 54s	$158K	$13K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.034%Rate

Funding earned: −$137.36
Price spread: −0.034% → −0.117%: $8.27
Slippage, 4 orders: −$254.28
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$406.37
Costs to cover: 2.773%
Break-even: never at this rate

Slippage from Bybit: live order book, 25 min ago; BloFin: live order book, 67 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, 25 min ago	8.00 bp	118.4 bp −$118	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 67 min ago	3.47 bp	25.7 bp −$26	75.6 bp −$756	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-USDTshort	+0.0059%	4h	0.1452	−0.034%	$158K	$13K	50x
Aster ALICEUSDT	+0.0100%	4h	0.1451	−0.132%	$9K	$537	5x	as long as short
Binance ALICEUSDT	+0.0100%	4h	0.1450	−0.172%	$2.4M	$2.6M	50x	as long as short
MEXC ALICE_USDT	+0.0100%	4h	0.1450	−0.172%	$541K	$116K	50x	as long as short
KuCoin ALICEUSDTM	+0.0100%	4h	0.1452	−0.034%	$420K	$48K	30x	as long as short
Bitget ALICEUSDT	+0.0100%	4h	0.1449	−0.241%	$999K	$130K	50x	as long as short
BingX ALICE-USDT	+0.0100%	4h	0.1451	−0.103%	—	$1.3M	—	as long as short
Variational Omni ALICE	+0.0242%	8h	0.1451	−0.094%	$477	$478	—	as long as short
Gate ALICE_USDT	+0.0450%	8h	0.1453	+0.034%	$91K	$89K	25x	as long as short
Bybit ALICEUSDTlong	+0.0713%	8h	0.1452	long leg	$647K	$179K	25x

Show all 11 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_ALICEUSD	+0.1299%	1h	0.1457	+0.280%	$33K	$4K	10x	as long as short