Funding arb · Price arb /

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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: Bybit against SunX−4.602%46s7-day average −0.513% · you buy dearer than you sell

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

Long on SunX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.010%−$1 on $10k

Price spread, last 4 days (all we have)+4.150%+$415 · spread now −4.602%, 7d avg −0.513%

Together, before fees+4.140%+$414 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: Bybit is 4.089% cheaper against SunX than usual: you would sell low and buy high, −$409 on $10k if it goes back to its 7-day average of −0.513%. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX EDGE-USDT	0.6237	0.0100	pay 0.0050% / 4h	1h 19m	$4K	$621K	10x
Short	Bybit EDGEUSDT	0.5950	0.0100	get 0.0050% / 4h	1h 19m	$7.1M	$3.3M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against SunX. 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 SunXbpFee BybitbpOrdersPrice spread, now −4.602%Rate

Funding earned: $0
Price spread: −4.602% → −0.513%: −$408.9
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$427.9
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 12 min ago; 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 SunX live order book, 12 min ago	501.05 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	4.19 bp	103.7 bp −$104	361.2 bp −$3,612	doesn't fit	doesn't fit

EDGE on 17 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
Lighter EDGE	+0.0096%	1h	0.5949	−4.618%	$43K	$19K	3x	as long as short
Bybit EDGEUSDTshort	+0.0100%	4h	0.5950	−4.602%	$7.1M	$3.3M	25x
KuCoin EDGEUSDTM	+0.0100%	4h	0.5958	−4.473%	$2.1M	$2.2M	50x	as long as short
Bitget EDGEUSDT	+0.0100%	4h	0.5953	−4.553%	$4.7M	$1.1M	20x	as long as short
Backpack EDGE_USDC_PERP	+0.0100%	1h	0.5961	−4.422%	$60K	$105K	3.3x	as long as short
Variational Omni EDGE	+0.0100%	4h	0.5959	−4.451%	$190K	$135K	—	as long as short
GRVT EDGE_USDT_Perp	+0.0100%	4h	0.5970	−4.281%	$2K	$2.1M	10x	as long as short
ApeX Omni EDGEUSDT	+0.0100%	1h	0.5969	−4.297%	$9K	$306K	50x	as long as short
SunX EDGE-USDTlong	+0.0100%	4h	0.6237	long leg	$4K	$621K	10x
Binance EDGEUSDT	+0.0481%	4h	0.5958	−4.470%	$10.2M	$10.3M	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC EDGE_USDT	+0.0486%	4h	0.5957	−4.489%	$1.2M	$901K	50x	as long as short
Extended EDGE-USD	+0.0488%	1h	0.5955	−4.522%	$27K	$194K	5x	as long as short
BloFin EDGE-USDT	+0.0512%	4h	0.5969	−4.297%	$655K	$102K	50x	as long as short
Aster EDGEUSDT	+0.0530%	4h	0.5963	−4.393%	$69K	$129K	5x	as long as short
OKX EDGE-USDT-SWAP	+0.0555%	4h	0.5961	−4.425%	$3.7M	$5.8M	20x	as long as short
edgeX EDGEUSDC	+0.0558%	4h	0.5981	−4.101%	$14.3M	$3.6M	30x	as long as short
Orderly PERP_EDGE_USDC	+0.0662%	4h	0.5966	−4.345%	$3K	—	10x	as long as short