Funding arb · Price arb /

ALT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0332%/8h= −36.4% APRpaid last 24h −0.111%

Price spread now: Bybit against Coinbase International−1.263%7-day average — · you buy dearer than you sell

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

Long on Coinbase International Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Bybit is 1.263% cheaper against Coinbase International than usual: you would sell low and buy high (−$126 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International ALT-PERP-INTX	0.007598	0.0432	pay 0.0054% / 1h	55m 43s	$14K	$3K	50x
Short	Bybit ALTUSDT	0.007502	0.0100	get 0.0050% / 4h	2h 55m	$1.2M	$1.6M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Coinbase International. 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 Coinbase InternationalbpFee BybitbpOrdersPrice spread, now −1.263%Rate

Funding earned: −$69.72
Price spread: −1.263% → 0.000%: −$126.35
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$217.07
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Coinbase International: no order-book sample; Bybit: live order book, 1 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 Coinbase International no order-book sample	—	—	—	—	—
Sell Bybit live order book, 1 min ago	4.67 bp	25.8 bp −$26	140.6 bp −$1,406	doesn't fit	doesn't fit

Coinbase International: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

ALT on 14 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
Deribit ALT_USDC-PERPETUAL	0.0000%	1h	0.007499	−1.303%	—	$0	25x	as long as short
Variational Omni ALT	+0.0069%	4h	0.007486	−1.470%	$5K	$13K	—	as long as short
BloFin ALT-USDT	+0.0076%	4h	0.007539	−0.777%	$172K	$10K	50x	as long as short
Hyperliquid ALT	+0.0100%	1h	0.007498	−1.316%	$1.1M	$185K	3x	as long as short
Binance ALTUSDT	+0.0100%	4h	0.007503	−1.254%	$2.6M	$3.6M	50x	as long as short
Bybit ALTUSDTshort	+0.0100%	4h	0.007502	−1.263%	$1.2M	$1.6M	25x
Gate ALT_USDT	+0.0100%	8h	0.007500	−1.290%	$50K	$395K	25x	as long as short
MEXC ALT_USDT	+0.0100%	4h	0.007504	−1.237%	$413K	$182K	50x	as long as short
KuCoin ALTUSDTM	+0.0100%	4h	0.007506	−1.211%	$149K	$20K	30x	as long as short
Bitget ALTUSDT	+0.0100%	4h	0.007492	−1.395%	$595K	$113K	50x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX ALT-USDT	+0.0100%	4h	0.007500	−1.290%	—	$1.3M	—	as long as short
Kraken Futures PF_ALTUSD	+0.0210%	1h	0.007504	−1.243%	$44K	$8K	10x	as long as short
Coinbase International ALT-PERP-INTXlong	+0.0432%	1h	0.007598	long leg	$14K	$3K	50x
Injective ALT/USDC PERP	+0.5000%	1h	0.007604	+0.079%	$827	$4K	5.5x	as long as short