Funding arb · Price arb /

DRIFT

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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 0.000%

Price spread now: Bitget against Bybit+0.057%7-day average +0.280% · you sell dearer than you buy

Net, funding: paid 7d − costs−$445as in the Funding arb table

Net, price: spread back to 7d avg − costs−$467as in the Price arb table

costs, in and out, $10k−$4454.451% of the position

Long on Bybit Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.002%$0 on $10k

Price spread, last 7 days+0.343%+$34 · spread now +0.057%, 7d avg +0.280%

Together, before fees+0.345%+$34 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: Bitget is 0.223% cheaper against Bybit than usual: you would sell low and buy high, −$22 on $10k if it goes back to its 7-day average of +0.280%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit DRIFTUSDT	0.01763	0.0100	pay 0.0050% / 4h	1h 20m	$2.4M	$2.8M	20x
Short	Bitget DRIFTUSDT	0.01764	0.0100	get 0.0050% / 4h	1h 20m	$543K	$359K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.057%Rate

Funding earned: $0
Price spread: +0.057% → +0.280%: −$22.29
Slippage, 4 orders: −$422.12
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$467.41
Costs to cover: 4.451%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; Bitget: live order book, 39 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	2.85 bp	48.3 bp −$48	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 39 min ago	2.88 bp	176.8 bp −$177	doesn't fit	doesn't fit	doesn't fit

DRIFT on 10 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 DRIFT/USDC PERP	+0.0033%	1h	0.01591	−9.756%	—	$9K	5.5x	as long as short
BloFin DRIFT-USDT	+0.0055%	4h	0.01760	−0.170%	$155K	$10K	20x	as long as short
Binance DRIFTUSDT	+0.0100%	4h	0.01768	+0.266%	$2.4M	$6.6M	20x	as long as short
Bybit DRIFTUSDTlong	+0.0100%	4h	0.01763	long leg	$2.4M	$2.8M	20x
Gate DRIFT_USDT	+0.0100%	4h	0.01762	−0.057%	$124K	$235K	10x	as long as short
MEXC DRIFT_USDT	+0.0100%	4h	0.01760	−0.170%	$417K	$168K	20x	as long as short
KuCoin DRIFTUSDTM	+0.0100%	4h	0.01759	−0.227%	$692K	$118K	20x	as long as short
Bitget DRIFTUSDTshort	+0.0100%	4h	0.01764	+0.057%	$543K	$359K	10x
BingX DRIFT-USDT	+0.0100%	4h	0.01766	+0.170%	—	$6.6M	—	as long as short
Variational Omni DRIFT	+0.0100%	4h	0.01760	−0.189%	$24K	$6K	—	as long as short