Funding arb · Price arb /

ARB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0069%/8h= −7.5% APRpaid last 24h +0.048%

Price spread now: Bybit against SoDEX+0.080%46s7-day average −0.035% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$320.321% of the position

Long on SoDEX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.073%+$7 on $10k

Price spread, last 3 days (all we have)−0.889%−$89 · spread now +0.080%, 7d avg −0.035%

Together, before fees−0.816%−$82 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.116% dearer against SoDEX than usual: you sell high and buy low (spread +0.080% now, against its 7-day average of −0.035%): +$12 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 5.6 days. Mind the row above: over the last 3 days funding on this pair paid +0.073%, so the current rate has only just turned against you. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX ARB-USD	0.2240	−0.0069	get 0.0009% / 1h	38m 34s	$4K	$2.8M	5x
Short	Bybit ARBUSDT	0.2242	−0.0138	pay 0.0138% / 8h	1h 38m	$57.7M	$135.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against SoDEX. 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 SoDEXbpFee BybitbpOrdersPrice spread, now +0.080%Rate

Funding earned: −$14.46
Price spread: +0.080% → −0.035%: $11.58
Slippage, 4 orders: −$13.06
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$34.94
Costs to cover: 0.321%
Break-even: never at this rate

Slippage from SoDEX: live order book, just now; Bybit: live order book, 5 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 SoDEX live order book, just now	1.34 bp	6.6 bp −$7	21.2 bp −$212	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	0.22 bp	9.4 bp −$9	18.8 bp −$188	48.6 bp −$4,855	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	−0.1770%	1h	0.2226	−0.616%	$40K	$283K	12x	as long as short
01 Exchange ARBUSD	−0.0224%	1h	0.2242	+0.112%	$7K	$2K	10x	as long as short
Variational Omni ARB	−0.0162%	8h	0.2236	−0.152%	$1.9M	$2.8M	—	as long as short
Bybit ARBUSDTshort	−0.0138%	8h	0.2242	+0.080%	$57.7M	$135.7M	50x
OKX ARB-USDT-SWAP	−0.0100%	8h	0.2243	+0.125%	$22.4M	$163.8M	50x	as long as short
MEXC ARB_USDT	−0.0099%	8h	0.2241	+0.058%	$37.4M	$62.4M	200x	as long as short
SoDEX ARB-USDlong	−0.0069%	1h	0.2240	long leg	$4K	$2.8M	5x
Polymarket Perps ARB-USD	−0.0064%	1h	0.2237	−0.112%	$76K	$2.2M	10x	as long as short
Orderly PERP_ARB_USDC	−0.0027%	8h	0.2238	−0.080%	$10K	$394K	10x	as long as short
Binance ARBUSDT	−0.0009%	8h	0.2242	+0.112%	$64.0M	$322.5M	75x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended ARB-USD	−0.0008%	1h	0.2242	+0.078%	$356K	$2.4M	25x	as long as short
dYdX ARB-USD	0.0000%	1h	0.2241	+0.057%	$66K	$4K	10x	as long as short
Deribit ARB_USDC-PERPETUAL	0.0000%	1h	0.2239	−0.031%	$26K	$32K	25x	as long as short
gTrade (Gains Network) ARB/USD	L +0.0005% / S −0.0005%	1h	0.2239	−0.046%	$56K	—	150x	as long as short
Gate ARB_USDT	+0.0029%	8h	0.2243	+0.121%	$5.5M	$20.7M	60x	as long as short
Aevo ARB-PERP	+0.0080%	1h	0.2239	−0.040%	$146K	$12K	3x	as long as short
BingX ARB-USDC	+0.0081%	8h	0.2241	+0.049%	—	$6.5M	—	as long as short
Bitget ARBUSDT	+0.0083%	8h	0.2242	+0.098%	$21.0M	$38.0M	50x	as long as short
Kraken Futures PF_ARBUSD	+0.0085%	1h	0.2242	+0.087%	$1.1M	$5.2M	50x	as long as short
Lighter ARB	+0.0096%	1h	0.2242	+0.107%	$1.3M	$7.4M	15x	as long as short
Hyperliquid ARB	+0.0100%	1h	0.2242	+0.116%	$40.0M	$50.9M	10x	as long as short
Aster ARBUSDT	+0.0100%	8h	0.2240	+0.008%	$696K	$1.7M	20x	as long as short
Pacifica ARB	+0.0100%	1h	0.2242	+0.085%	$45K	$197K	10x	as long as short
KuCoin ARBUSDTM	+0.0100%	8h	0.2241	+0.063%	$20.6M	$16.8M	75x	as long as short
edgeX ARBUSDC	+0.0100%	4h	0.2235	−0.221%	$40K	$460K	20x	as long as short
GRVT ARB_USDT_Perp	+0.0100%	8h	0.2235	−0.193%	$481K	$4.0M	10x	as long as short
ApeX Omni ARBUSDT	+0.0100%	1h	0.2235	−0.214%	$121K	$294K	50x	as long as short
SunX ARB-USDT	+0.0100%	8h	0.2240	+0.009%	$2K	$1.1M	30x	as long as short
HTX ARB-USDT	+0.0100%	8h	0.2239	−0.036%	$276K	$1.2M	50x	as long as short
Phemex ARBUSDT	+0.0100%	8h	0.2238	−0.080%	$5.2M	$13.5M	50x	as long as short
BloFin ARB-USDT	+0.0109%	8h	0.2240	+0.013%	$3.0M	$3.3M	75x	as long as short
Coinbase International ARB-PERP-INTX	+0.0264%	1h	0.2243	+0.138%	$509K	$2.4M	50x	as long as short
GMX ARB/USD [ARB-USDC]	L +0.0274% / S −0.0157%	1h	0.2239	−0.029%	$837K	—	150x	as long as short
Reya ARBRUSDPERP	+0.0291%	1h	0.2238	−0.102%	$2K	$695	20x	as long as short
RISEx ARB/USDC	+0.0363%	1h	0.2244	+0.203%	$495K	$2.7M	10x	as long as short
Backpack ARB_USDC_PERP	+0.0624%	1h	0.2244	+0.183%	$1.1M	$2.7M	20x	as long as short