Funding arb · Price arb /

DOT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0540%/8h= −59.1% APRpaid last 24h −0.091%

Price spread now: Coinbase International against Bybit+0.172%7-day average +0.054% · you sell dearer than you buy

Net, funding: paid 7d − costs−$82as in the Funding arb table

Net, price: spread back to 7d avg − costs−$41as in the Price arb table

costs, in and out, $10k−$530.528% of the position

Long on Bybit Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.293%−$29 on $10k

Price spread, last 4 days (all we have)−0.158%−$16 · spread now +0.172%, 7d avg +0.054%

Together, before fees−0.451%−$45 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 0.118% dearer against Bybit than usual: you sell high and buy low (spread +0.172% now, against its 7-day average of +0.054%): +$12 on $10k if it goes back. Holding the pair costs −$16 a day in funding at the current rate, which eats that in about 17 hours. At the pace of the last 7 days (−0.293% in total) that is about 2.8 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.293% in total (about -15.3% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit DOTUSDT	1.1630	0.0100	pay 0.0100% / 8h	1h 04m	$23.6M	$20.2M	75x
Short	Coinbase International DOT-PERP-INTX	1.1650	−0.0440	pay 0.0055% / 1h	4m 06s	$170K	$2.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.172%Rate

Funding earned: −$113.4
Price spread: +0.172% → +0.054%: $11.8
Slippage, 4 orders: −$31.83
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$154.43
Costs to cover: 0.528%
Break-even: never at this rate

Slippage from Bybit: live order book, 5 min ago; Coinbase International: live order book, 5 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, 5 min ago	0.43 bp	10.9 bp −$11	21.1 bp −$211	125.0 bp −$12.5K	doesn't fit
Sell Coinbase International live order book, 5 min ago	4.29 bp	15.4 bp −$15	17.6 bp −$176	doesn't fit	doesn't fit

DOT on 29 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
Deribit DOT_USDC-PERPETUAL	−0.3857%	1h	1.1638	+0.069%	$246K	$152K	50x	as long as short
Coinbase International DOT-PERP-INTXshort	−0.0440%	1h	1.1650	+0.172%	$170K	$2.0M	50x
Reya DOTRUSDPERP	−0.0166%	1h	1.1632	+0.018%	$252	—	—	as long as short
dYdX DOT-USD	0.0000%	1h	1.1638	+0.067%	$140K	$6K	10x	as long as short
gTrade (Gains Network) DOT/USD	L 0.0000% / S +0.0004%	1h	1.1635	+0.040%	$3K	—	150x	as long as short
Injective DOT/USDC PERP	+0.0033%	1h	1.2020	+3.353%	$328	$121K	12x	as long as short
Lighter DOT	+0.0096%	1h	1.1633	+0.028%	$246K	$677K	10x	as long as short
Hyperliquid DOT	+0.0100%	1h	1.1634	+0.036%	$5.6M	$4.6M	10x	as long as short
Aster DOTUSDT	+0.0100%	8h	1.1644	+0.122%	$839K	$607K	50x	as long as short
Binance DOTUSDT	+0.0100%	8h	1.1636	+0.051%	$42.4M	$88.8M	75x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit DOTUSDTlong	+0.0100%	8h	1.1630	long leg	$23.6M	$20.2M	75x
OKX DOT-USDT-SWAP	+0.0100%	8h	1.1632	+0.017%	$9.0M	$25.3M	50x	as long as short
Gate DOT_USDT	+0.0100%	8h	1.1630	0.000%	$6.7M	$12.9M	75x	as long as short
MEXC DOT_USDT	+0.0100%	8h	1.1632	+0.017%	$35.2M	$61.9M	300x	as long as short
KuCoin DOTUSDTM	+0.0100%	8h	1.1631	+0.009%	$6.1M	$9.4M	75x	as long as short
Bitget DOTUSDT	+0.0100%	8h	1.1630	0.000%	$22.3M	$14.8M	75x	as long as short
BingX DOT-USDC	+0.0100%	8h	1.1632	+0.017%	—	$1.3M	—	as long as short
Backpack DOT_USDC_PERP	+0.0100%	1h	1.1634	+0.034%	$90K	$130K	10x	as long as short
Variational Omni DOT	+0.0100%	8h	1.1650	+0.176%	$530K	$51K	—	as long as short
edgeX DOTUSDC	+0.0100%	4h	1.1655	+0.214%	$34K	$335K	20x	as long as short
GRVT DOT_USDT_Perp	+0.0100%	8h	1.1654	+0.209%	$223K	$432K	10x	as long as short
Orderly PERP_DOT_USDC	+0.0100%	8h	1.1640	+0.086%	$8K	$19K	10x	as long as short
SunX DOT-USDT	+0.0100%	8h	1.1657	+0.232%	$2K	$1.3M	20x	as long as short
HTX DOT-USDT	+0.0100%	8h	1.1643	+0.112%	$262K	$281K	75x	as long as short
Extended DOT-USD	+0.0104%	1h	1.1624	−0.050%	$15K	$255K	25x	as long as short
Phemex DOTUSDT	+0.0198%	8h	1.1650	+0.172%	$2.4M	$2.2M	50x	as long as short
BloFin DOT-USDT	+0.0220%	8h	1.1645	+0.129%	$1.9M	$901K	75x	as long as short
GMX DOT/USD [WBTC.b-USDC]	L +0.0290% / S −0.0937%	1h	1.1634	+0.033%	$20K	—	100x	as long as short
Kraken Futures PF_DOTUSD	+0.0328%	1h	1.1637	+0.056%	$4.3M	$1.5M	50x	as long as short