Funding arb · Price arb /

ARB

all ARB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0445%/8h= −48.8% APRpaid last 24h −0.081%

Price spread now: Bybit against Coinbase International−0.894%7-day average −0.198% · you buy dearer than you sell

Net, funding: paid 7d − costs−$100as in the Funding arb table

Net, price: spread back to 7d avg − costs−$136as in the Price arb table

costs, in and out, $10k−$660.661% of the position

Long on Coinbase International Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.337%−$34 on $10k

Price spread, last 3 days (all we have)−0.618%−$62 · spread now −0.894%, 7d avg −0.198%

Together, before fees−0.956%−$96 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$13 a day on $10k at the current rate, and Bybit is 0.696% cheaper against Coinbase International than usual: you would sell low and buy high (−$70 if the spread goes back to its 7-day average of −0.198%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International ARB-PERP-INTX	0.2249	0.0288	pay 0.0036% / 1h	15m 56s	$504K	$2.5M	50x
Short	Bybit ARBUSDT	0.2229	−0.0157	pay 0.0157% / 8h	2h 15m	$56.0M	$135.9M	50x

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 −0.894%Rate

Funding earned: −$93.51
Price spread: −0.894% → −0.198%: −$69.57
Slippage, 4 orders: −$45.1
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$229.18
Costs to cover: 0.661%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 3 min ago; Bybit: live order book, 3 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 Coinbase International live order book, 3 min ago	11.14 bp	25.3 bp −$25	49.3 bp −$493	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	0.22 bp	10.5 bp −$10	19.7 bp −$197	46.7 bp −$4,674	doesn't fit

ARB on 36 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
Injective ARB/USDC PERP	−0.1675%	1h	0.2231	−0.800%	$40K	$197K	12x	as long as short
01 Exchange ARBUSD	−0.0272%	1h	0.2234	−0.685%	$7K	$2K	10x	as long as short
Variational Omni ARB	−0.0161%	8h	0.2240	−0.395%	$1.9M	$2.8M	—	as long as short
Bybit ARBUSDTshort	−0.0157%	8h	0.2229	−0.894%	$56.0M	$135.9M	50x
SoDEX ARB-USD	−0.0113%	1h	0.2232	−0.743%	$4K	$2.9M	5x	as long as short
Deribit ARB_USDC-PERPETUAL	−0.0108%	1h	0.2234	−0.676%	$38K	$20K	25x	as long as short
OKX ARB-USDT-SWAP	−0.0103%	8h	0.2228	−0.956%	$22.2M	$164.1M	50x	as long as short
MEXC ARB_USDT	−0.0103%	8h	0.2228	−0.912%	$37.1M	$63.8M	200x	as long as short
Kraken Futures PF_ARBUSD	−0.0053%	1h	0.2234	−0.648%	$1.1M	$5.2M	50x	as long as short
Polymarket Perps ARB-USD	−0.0039%	1h	0.2234	−0.676%	$77K	$2.2M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_ARB_USDC	−0.0018%	8h	0.2233	−0.711%	$11K	$388K	10x	as long as short
Binance ARBUSDT	−0.0010%	8h	0.2229	−0.894%	$63.4M	$324.6M	75x	as long as short
Extended ARB-USD	−0.0008%	1h	0.2228	−0.921%	$355K	$2.4M	25x	as long as short
dYdX ARB-USD	0.0000%	1h	0.2236	−0.597%	$66K	$4K	10x	as long as short
gTrade (Gains Network) ARB/USD	L +0.0005% / S −0.0005%	1h	0.2235	−0.635%	$56K	—	150x	as long as short
Gate ARB_USDT	+0.0007%	8h	0.2233	−0.729%	$5.5M	$21.6M	60x	as long as short
Aevo ARB-PERP	+0.0080%	1h	0.2234	−0.656%	$146K	$12K	3x	as long as short
Bitget ARBUSDT	+0.0088%	8h	0.2229	−0.889%	$20.9M	$38.3M	50x	as long as short
BingX ARB-USDT	+0.0088%	8h	0.2232	−0.756%	—	$54.0M	—	as long as short
Lighter ARB	+0.0096%	1h	0.2234	−0.658%	$1.3M	$7.7M	15x	as long as short
Hyperliquid ARB	+0.0100%	1h	0.2235	−0.645%	$39.9M	$52.9M	10x	as long as short
Aster ARBUSDT	+0.0100%	8h	0.2235	−0.617%	$695K	$1.8M	20x	as long as short
Pacifica ARB	+0.0100%	1h	0.2235	−0.605%	$47K	$199K	10x	as long as short
KuCoin ARBUSDTM	+0.0100%	8h	0.2230	−0.827%	$20.5M	$17.0M	75x	as long as short
edgeX ARBUSDC	+0.0100%	4h	0.2244	−0.230%	$40K	$456K	20x	as long as short
GRVT ARB_USDT_Perp	+0.0100%	8h	0.2244	−0.234%	$483K	$4.1M	10x	as long as short
ApeX Omni ARBUSDT	+0.0100%	1h	0.2242	−0.311%	$121K	$297K	50x	as long as short
SunX ARB-USDT	+0.0100%	8h	0.2234	−0.667%	$1K	$1.1M	30x	as long as short
HTX ARB-USDT	+0.0100%	8h	0.2234	−0.685%	$275K	$1.2M	50x	as long as short
Phemex ARBUSDT	+0.0100%	8h	0.2235	−0.622%	$5.2M	$13.7M	50x	as long as short
BloFin ARB-USDT	+0.0110%	8h	0.2239	−0.445%	$3.0M	$3.3M	75x	as long as short
GMX ARB/USD [ARB-USDC]	L +0.0154% / S −0.0018%	1h	0.2234	−0.647%	$847K	—	150x	as long as short
Coinbase International ARB-PERP-INTXlong	+0.0288%	1h	0.2249	long leg	$504K	$2.5M	50x
Reya ARBRUSDPERP	+0.0291%	1h	0.2233	−0.692%	$2K	$695	20x	as long as short
RISEx ARB/USDC	+0.0546%	1h	0.2236	−0.562%	$496K	$2.8M	10x	as long as short
Backpack ARB_USDC_PERP	+0.0567%	1h	0.2236	−0.574%	$1.1M	$2.7M	20x	as long as short