Funding arb · Price arb /

CC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0631%/8h= +69.1% APRpaid last 24h −0.003%

Price spread now: Derive against Bybit+0.049%7-day average — · you sell dearer than you buy

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

Long on Bybit Short on Derive

What this pair did over the last

the charts below follow

Funding, last 4 days (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 for this trade now. Funding pays +$19 a day on $10k at the current rate, and Derive is 0.049% dearer against Bybit than usual: you sell high and buy low: +$5 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit CCUSDT	0.1193	−0.0531	get 0.0266% / 4h	3h 21m	$10.8M	$3.8M	25x
Short	Derive CC-PERP	0.1194	0.0100	get 0.0013% / 1h	21m 01s	$6K	$36K	6.7x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Derive 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 DerivebpOrdersPrice spread, now +0.049%Rate

Funding earned: $132.51
Price spread: +0.049% → 0.000%: $4.9
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Derive: 3 bp × 2 orders: −$6
Net: $120.42
Costs to cover: 0.170%
Break-even: 0.6 days

Slippage unknown: Bybit: live order book, 2 min ago; Derive: 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, 2 min ago	1.67 bp	37.1 bp −$37	347.6 bp −$3,476	doesn't fit	doesn't fit
Sell Derive no order-book sample	—	—	—	—	—

Derive: 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.

CC on 19 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 CC/USDC PERP	−0.4522%	1h	0.1174	−1.601%	$6K	$99	5.5x	as long as short
Bybit CCUSDTlong	−0.0531%	4h	0.1193	long leg	$10.8M	$3.8M	25x
MEXC CC_USDT	−0.0460%	4h	0.1194	+0.050%	$1.7M	$315K	100x	as long as short
Paradex CC-USD-PERP	+0.0098%	8h	0.1194	+0.061%	$1K	—	5x	as long as short
Hyperliquid CC	+0.0100%	1h	0.1196	+0.235%	$5.6M	$1.4M	3x	as long as short
Aster CCUSDT	+0.0100%	4h	0.1195	+0.172%	$35K	$39K	20x	as long as short
Binance CCUSDT	+0.0100%	4h	0.1193	−0.034%	$11.3M	$11.4M	75x	as long as short
OKX CC-USDT-SWAP	+0.0100%	4h	0.1195	+0.159%	$2.6M	$3.6M	20x	as long as short
Gate CC_USDT	+0.0100%	4h	0.1194	+0.075%	$369K	$213K	50x	as long as short
KuCoin CCUSDTM	+0.0100%	4h	0.1196	+0.251%	$501K	$119K	50x	as long as short

Show all 19 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget CCUSDT	+0.0100%	4h	0.1194	+0.084%	$953K	$781K	20x	as long as short
BingX CC-USDT	+0.0100%	4h	0.1194	+0.050%	—	$6.6M	—	as long as short
Backpack CC_USDC_PERP	+0.0100%	1h	0.1194	+0.042%	$16K	$22K	10x	as long as short
Variational Omni CC	+0.0100%	4h	0.1195	+0.118%	$608K	$55K	—	as long as short
GRVT CC_USDT_Perp	+0.0100%	4h	0.1198	+0.409%	$90K	$2.3M	10x	as long as short
Derive CC-PERPshort	+0.0100%	1h	0.1194	+0.049%	$6K	$36K	6.7x
BloFin CC-USDT	+0.0340%	4h	0.1194	+0.084%	$597K	$105K	75x	as long as short
GMX CC/USD [WBTC.b-USDC]	L +0.0451% / S −0.0241%	1h	0.1195	+0.151%	$45K	—	50x	as long as short
Lighter CC	+0.0848%	1h	0.1199	+0.511%	$237K	$154K	5x	as long as short