Funding arb · Price arb /

CAP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0301%/8h= −33.0% APRpaid last 24h −0.051%

Price spread now: Bybit against gTrade (Gains Network)−0.115%7-day average — · you buy dearer than you sell

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

Long on gTrade (Gains Network)Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 1 day (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and Bybit is 0.115% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (−$11 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) CAP/USD	0.04585	L 0.0000% / S 0.0000%	pay 0.0000% / 1h	33m 34s	$497	—	150x
Short	Bybit CAPUSDT	0.04580	−0.0301	pay 0.0150% / 4h	33m 34s	$4.5M	$4.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee BybitbpOrdersPrice spread, now −0.115%Rate

Funding earned: −$63.27
Price spread: −0.115% → 0.000%: −$11.47
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$97.74
Costs to cover: 0.230%
Break-even: never at this rate

Slippage unknown: gTrade (Gains Network): no order-book sample; Bybit: live order book, 4 min ago. 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell Bybit live order book, 4 min ago	1.09 bp	33.7 bp −$34	335.0 bp −$3,350	doesn't fit	doesn't fit

gTrade (Gains Network): 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.

CAP on 14 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
KuCoin CAPUSDTM	−0.0564%	4h	0.04575	−0.224%	$4.4M	$1.4M	10x	as long as short
OKX CAP-USDT-SWAP	−0.0359%	4h	0.04576	−0.202%	$2.2M	$7.4M	10x	as long as short
Bybit CAPUSDTshort	−0.0301%	4h	0.04580	−0.115%	$4.5M	$4.1M	10x
Variational Omni CAP	−0.0006%	4h	0.04577	−0.181%	$8K	$8K	—	as long as short
gTrade (Gains Network) CAP/USDlong	L 0.0000% / S 0.0000%	1h	0.04585	long leg	$497	—	150x
BloFin CAP-USDT	+0.0061%	4h	0.04582	−0.071%	$376K	$58K	10x	as long as short
Lighter CAP	+0.0096%	1h	0.04576	−0.193%	$19K	$2K	3x	as long as short
Aster CAPUSDT	+0.0100%	4h	0.04581	−0.084%	$27K	$71K	5x	as long as short
Binance CAPUSDT	+0.0100%	4h	0.04581	−0.095%	$9.0M	$9.0M	10x	as long as short
Gate CAP_USDT	+0.0100%	4h	0.04581	−0.093%	$336K	$1.1M	20x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC CAP_USDT	+0.0100%	4h	0.04581	−0.093%	$527K	$228K	20x	as long as short
Bitget CAPUSDT	+0.0100%	4h	0.04579	−0.137%	$1.0M	$558K	10x	as long as short
BingX CAP-USDT	+0.0100%	4h	0.04578	−0.158%	—	$1.6M	—	as long as short
Orderly PERP_CAP_USDC_mythos	+0.0100%	4h	0.04578	−0.158%	$5K	$582	10x	as long as short