Funding arb · Price arb /

BTC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0018%/8h= +2.0% APRpaid last 24h 0.000%

Price spread now: Vest against Bybit+0.101%7-day average +0.005% · you sell dearer than you buy

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

Long on Bybit Short on Vest

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.019%−$2 on $10k

Price spread, last 7 days−0.093%−$9 · spread now +0.101%, 7d avg +0.005%

Together, before fees−0.112%+ Points / potential airdropVest: Active · farm board−$11 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Vest is 0.096% dearer against Bybit than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of +0.005%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit BTCUSDT	86,587.9	0.0082	pay 0.0082% / 8h	2h 30m	$5.27B	$9.67B	150x
Short	Vest BTC-PERP	86,675.1	0.0100	get 0.0013% / 1h	30m 20s	—	$11.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Vest 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 VestbpOrdersPrice spread, now +0.101%Rate

Funding earned: $3.76
Price spread: +0.101% → +0.005%: $9.59
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Vest: 1 bp × 2 orders: −$2
Net: $0.35
Costs to cover: 0.130%
Break-even: 6.3 days

Slippage unknown: Bybit: live order book, 4 min ago; Vest: no order-book sample. 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 Bybit live order book, 4 min ago	0.01 bp	5.5 bp −$6	5.5 bp −$55	6.7 bp −$673	8.0 bp −$4,020
Sell Vest no order-book sample	—	—	—	—	—

Vest: 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.

BTC on 56 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
Aftermath Perps BTCUSD	−0.0234%	1h	86,607.4	+0.023%	$85K	$188K	20x	as long as short
Perpl BTC	−0.0223%	43m	86,633.4	+0.053%	$428K	$24.9M	6.7x	as long as short
Phoenix BTC	−0.0103%	1h	86,590	+0.002%	$2.2M	$12.4M	40x	as long as short
dYdX BTC-USD	−0.0080%	1h	86,626.4	+0.045%	$17.6M	$20.5M	50x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,574	−0.016%	$9K	$3K	50x	as long as short
01 Exchange BTCUSD	0.0000%	1h	86,646.2	+0.067%	$362K	$2.4M	50x	as long as short
Deribit BTC-PERPETUAL	0.0000%	1h	86,621.9	+0.039%	$935.1M	$1.44B	50x	as long as short
KuCoin XBTUSDTM	+0.0002%	8h	86,608.3	+0.024%	$843.7M	$704.8M	125x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	86,628.7	+0.047%	$37.0M	—	200x	as long as short
Aster BTCUSDT	+0.0008%	8h	86,595.9	+0.009%	$505.8M	$1.16B	200x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya BTCRUSDPERP	+0.0021%	1h	86,611.5	+0.027%	$6.7M	$144.3M	40x	as long as short
BingX BTC-USDT	+0.0023%	8h	86,603.8	+0.018%	—	$1.59B	—	as long as short
Phemex BTCUSDT	+0.0026%	8h	86,590.2	+0.003%	$149.7M	$471.4M	150x	as long as short
Bitget BTCUSDT	+0.0031%	8h	86,591.7	+0.004%	$2.95B	$5.07B	150x	as long as short
Injective BTC/USDC PERP	+0.0049%	1h	86,639	+0.059%	$315K	$26.8M	52x	as long as short
MEXC BTC_USDT	+0.0053%	8h	86,617.4	+0.034%	$5.19B	$5.67B	500x	as long as short
Binance BTCUSDT	+0.0053%	8h	86,594.9	+0.008%	$9.44B	$24.31B	150x	as long as short
Aevo BTC-PERP	+0.0056%	1h	86,595.7	+0.009%	$2.4M	$1.3M	20x	as long as short
RISEx BTC/USDC	+0.0063%	1h	86,630.6	+0.049%	$9.2M	$42.0M	25x	as long as short
OKX BTC-USDT-SWAP	+0.0074%	8h	86,600	+0.014%	$2.56B	$12.70B	100x	as long as short
Gate BTC_USDT	+0.0075%	8h	86,608.5	+0.024%	$5.86B	$10.64B	200x	as long as short
Bybit BTCUSDTlong	+0.0082%	8h	86,587.9	long leg	$5.27B	$9.67B	150x
Variational Omni BTC	+0.0095%	8h	86,614.5	+0.031%	$160.3M	$564.8M	—	as long as short
Lighter BTC	+0.0096%	1h	86,603	+0.017%	$172.0M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,608.8	+0.024%	$24.0M	$153.5M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,620	+0.037%	$8.5M	$52.3M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,610	+0.026%	$193K	$6.8M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,667.4	+0.092%	$4.8M	$8.2M	50x	as long as short
Nado BTC-PERP	+0.0100%	1h	86,616.5	+0.033%	$21.7M	$235.4M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	86,693.5	+0.122%	$3.82B	$5.13B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,650.2	+0.072%	$41.3M	$490.3M	50x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,627	+0.045%	$3.9M	$18.5M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,690.1	+0.118%	$7.5M	$93.7M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,577.9	−0.012%	$571.8M	$22.4M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,624.7	+0.043%	$38.1M	$148.4M	75x	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,620.6	+0.038%	$279.9M	$950.7M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,619.4	+0.036%	$217.4M	$187.8M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,627.4	+0.046%	$141.4M	$322.8M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,601.6	+0.016%	$30.8M	$205.5M	40x	as long as short
Vest BTC-PERPshort	+0.0100%	1h	86,675.1	+0.101%	—	$11.6M	50x
Polymarket Perps BTC-USD	+0.0100%	1h	86,620	+0.037%	$11.1M	$13.7M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,605	+0.020%	$194K	$3.4M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,610	+0.026%	$2.5M	$8.5M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	86,625.8	+0.044%	$141K	$619K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,600.1	+0.014%	$30.0M	$61.6M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,612.9	+0.029%	$3.4M	$5.5M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	86,591	+0.004%	$60.5M	$336.4M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,598.6	+0.012%	$2.30B	$957.1M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,579.6	−0.009%	$46.4M	$227.9M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,638.6	+0.059%	—	$98.4M	500x	as long as short
Kraken Futures PF_XBTUSD	+0.0117%	1h	86,619.4	+0.036%	$188.7M	$930.9M	100x	as long as short
Coinbase International BTC-PERP-INTX	+0.0120%	1h	86,634.6	+0.054%	$132.0M	$5.86B	50x	as long as short
Kalshi KXBTCPERP	+0.0124%	8h	86,640	+0.060%	$8.9M	$723.8M	6.4x	as long as short
BloFin BTC-USDT	+0.0173%	8h	86,599.6	+0.014%	$416.9M	$652.8M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0178% / S −0.0185%	1h	86,620.6	+0.038%	$14.9M	—	200x	as long as short
Hibachi BTC/USDT-P	+0.0224%	1h	86,641.4	+0.062%	$614K	$7.1M	30x	as long as short