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 −0.001%

Price spread now: SunX against Bybit+0.290%46s7-day average +0.238% · you sell dearer than you buy

Net, funding: paid 7d − costs−$361as in the Funding arb table

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

costs, in and out, $10k−$3653.652% of the position

Long on Bybit Short on SunX

What this pair did over the last

the charts below follow

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

Price spread, last 3 days (all we have)+0.024%+$2 · spread now +0.290%, 7d avg +0.238%

Together, before fees+0.062%+$6 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: SunX is 0.051% dearer against Bybit than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of +0.238%. 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	Bybit BILLUSDT	0.01381	0.0100	pay 0.0050% / 4h	3h 38m	$1.3M	$939K	20x
Short	SunX BILL-USDT	0.01385	0.0100	get 0.0050% / 4h	3h 38m	$2K	$1.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against Bybit. 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 BybitbpFee SunXbpOrdersPrice spread, now +0.290%Rate

Funding earned: $0
Price spread: +0.290% → +0.238%: $5.13
Slippage, 4 orders: −$346.15
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee SunX: 4 bp × 2 orders: −$8
Net: −$360.02
Costs to cover: 3.652%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; SunX: live order book, 4 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, 2 min ago	7.22 bp	56.6 bp −$57	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 4 min ago	35.97 bp	132.0 bp −$132	doesn't fit	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	+0.0044%	4h	0.01387	+0.434%	$145K	$19K	20x	as long as short
Aster BILLUSDT	+0.0100%	4h	0.01383	+0.129%	$2K	$4K	5x	as long as short
Bybit BILLUSDTlong	+0.0100%	4h	0.01381	long leg	$1.3M	$939K	20x
OKX BILL-USDT-SWAP	+0.0100%	4h	0.01383	+0.145%	$1.0M	$2.5M	20x	as long as short
Gate BILL_USDT	+0.0100%	4h	0.01384	+0.217%	$280K	$82K	20x	as long as short
Bitget BILLUSDT	+0.0100%	4h	0.01383	+0.145%	$631K	$850K	20x	as long as short
SunX BILL-USDTshort	+0.0100%	4h	0.01385	+0.290%	$2K	$1.1M	20x
Backpack BILL_USDC_PERP	+0.0103%	1h	0.01383	+0.145%	$21K	$926	5x	as long as short
Binance BILLUSDT	+0.0303%	4h	0.01383	+0.145%	$2.5M	$3.6M	20x	as long as short
Extended BILL-USD	+0.0312%	1h	0.01383	+0.121%	$3K	$274K	5x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC BILL_USDT	+0.0312%	4h	0.01383	+0.145%	$987K	$322K	50x	as long as short
BingX BILL-USDT	+0.0318%	4h	0.01382	+0.072%	—	$1.7M	—	as long as short
Coinbase International BILL-PERP-INTX	+0.0632%	1h	0.01386	+0.355%	$47K	$100K	50x	as long as short
HTX BILL-USDT	+0.0827%	4h	0.01390	+0.652%	$17K	$8K	20x	as long as short
KuCoin BILLUSDTM	+0.0946%	4h	0.01385	+0.282%	$445K	$281K	20x	as long as short
Deribit BILL_USDC-PERPETUAL	+0.1775%	1h	0.01385	+0.326%	$108K	$14K	10x	as long as short