Funding arb · Price arb /

ALT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0093%/8h= −10.2% APRpaid last 24h —

Price spread now: Bybit against Deribit−0.134%7-day average — · you buy dearer than you sell

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

Long on Deribit Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 6 hours (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 −$3 a day on $10k at the current rate, and Bybit is 0.134% cheaper against Deribit than usual: you would sell low and buy high (−$13 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	Deribit ALT_USDC-PERPETUAL	0.007488	−0.0017	get 0.0002% / 1h	54m 46s	—	$0	25x
Short	Bybit ALTUSDT	0.007478	−0.0110	pay 0.0055% / 4h	1h 54m	$1.2M	$1.6M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Deribit. 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 DeribitbpFee BybitbpOrdersPrice spread, now −0.134%Rate

Funding earned: −$19.55
Price spread: −0.134% → 0.000%: −$13.35
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$50.91
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Deribit: 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 Deribit no order-book sample	—	—	—	—	—
Sell Bybit live order book, 1 min ago	4.01 bp	31.5 bp −$31	138.4 bp −$1,384	doesn't fit	doesn't fit

Deribit: 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
Variational Omni ALT	−0.0277%	4h	0.007479	−0.122%	$4K	$12K	—	as long as short
Bybit ALTUSDTshort	−0.0110%	4h	0.007478	−0.134%	$1.2M	$1.6M	25x
Deribit ALT_USDC-PERPETUALlong	−0.0017%	1h	0.007488	long leg	—	$0	25x
Injective ALT/USDC PERP	+0.0033%	1h	0.007381	−1.429%	$815	$4K	5.5x	as long as short
BloFin ALT-USDT	+0.0047%	4h	0.007489	+0.013%	$172K	$9K	50x	as long as short
Hyperliquid ALT	+0.0100%	1h	0.007485	−0.040%	$1.1M	$185K	3x	as long as short
Binance ALTUSDT	+0.0100%	4h	0.007487	−0.014%	$2.6M	$3.5M	50x	as long as short
Gate ALT_USDT	+0.0100%	8h	0.007478	−0.134%	$50K	$410K	25x	as long as short
MEXC ALT_USDT	+0.0100%	4h	0.007486	−0.027%	$387K	$187K	50x	as long as short
KuCoin ALTUSDTM	+0.0100%	4h	0.007482	−0.080%	$149K	$21K	30x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ALTUSDT	+0.0100%	4h	0.007474	−0.187%	$614K	$99K	50x	as long as short
BingX ALT-USDT	+0.0100%	4h	0.007484	−0.053%	—	$1.3M	—	as long as short
Kraken Futures PF_ALTUSD	+0.0348%	1h	0.007496	+0.106%	$44K	$8K	10x	as long as short
Coinbase International ALT-PERP-INTX	+0.0448%	1h	0.007496	+0.107%	$14K	$3K	50x	as long as short