Funding arb · Price arb /

BILL

all BILL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bitget against Bybit+0.145%7-day average +0.063% · you sell dearer than you buy

Net, funding: paid 7d − costs−$175as in the Funding arb table

Net, price: spread back to 7d avg − costs−$171as in the Price arb table

costs, in and out, $10k−$1791.792% of the position

Long on Bybit Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.038%+$4 on $10k

Price spread, last 7 days−0.121%−$12 · spread now +0.145%, 7d avg +0.063%

Together, before fees−0.083%−$8 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bitget is 0.081% dearer against Bybit than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of +0.063%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit BILLUSDT	0.01384	0.0100	pay 0.0050% / 4h	1h 17m	$1.3M	$959K	20x
Short	Bitget BILLUSDT	0.01386	0.0100	get 0.0050% / 4h	1h 17m	$639K	$1.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.145%Rate

Funding earned: $0
Price spread: +0.145% → +0.063%: $8.13
Slippage, 4 orders: −$156.19
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$171.06
Costs to cover: 1.792%
Break-even: never at this rate

Slippage from Bybit: live order book, 3 min ago; Bitget: 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 Bybit live order book, 3 min ago	7.22 bp	70.9 bp −$71	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 3 min ago	10.81 bp	24.7 bp −$25	117.5 bp −$1,175	doesn't fit	doesn't fit

BILL on 16 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 BILL-USDT	+0.0048%	4h	0.01384	0.000%	$146K	$19K	20x	as long as short
Bybit BILLUSDTlong	+0.0100%	4h	0.01384	long leg	$1.3M	$959K	20x
Gate BILL_USDT	+0.0100%	4h	0.01386	+0.145%	$279K	$84K	20x	as long as short
Bitget BILLUSDTshort	+0.0100%	4h	0.01386	+0.145%	$639K	$1.1M	20x
Backpack BILL_USDC_PERP	+0.0100%	1h	0.01383	−0.072%	$21K	$939	5x	as long as short
SunX BILL-USDT	+0.0100%	4h	0.01388	+0.289%	$2K	$1.1M	20x	as long as short
HTX BILL-USDT	+0.0100%	4h	0.01387	+0.217%	$11K	$38K	20x	as long as short
OKX BILL-USDT-SWAP	+0.0202%	4h	0.01386	+0.145%	$1.1M	$2.7M	20x	as long as short
Aster BILLUSDT	+0.0261%	4h	0.01386	+0.120%	$2K	$4K	5x	as long as short
BingX BILL-USDT	+0.0446%	4h	0.01387	+0.217%	—	$1.7M	—	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended BILL-USD	+0.0464%	1h	0.01385	+0.045%	$1K	$222K	5x	as long as short
MEXC BILL_USDT	+0.0464%	4h	0.01385	+0.072%	$1.1M	$338K	50x	as long as short
Binance BILLUSDT	+0.0465%	4h	0.01385	+0.072%	$2.5M	$3.8M	20x	as long as short
Coinbase International BILL-PERP-INTX	+0.0688%	1h	0.01379	−0.347%	$46K	$51K	50x	as long as short
KuCoin BILLUSDTM	+0.1896%	4h	0.01387	+0.181%	$461K	$307K	20x	as long as short
Deribit BILL_USDC-PERPETUAL	+0.2209%	1h	0.01386	+0.166%	$108K	$14K	10x	as long as short