Funding arb · Price arb /

ERA

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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 Bitget−0.132%7-day average −0.045% · you buy dearer than you sell

Net, funding: paid 7d − costs−$214as in the Funding arb table

Net, price: spread back to 7d avg − costs−$223as in the Price arb table

costs, in and out, $10k−$2142.142% of the position

Long on Bitget Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.003%$0 on $10k

Price spread, last 4 days (all we have)+0.365%+$36 · spread now −0.132%, 7d avg −0.045%

Together, before fees+0.362%+$36 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 0.087% cheaper against Bitget than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of −0.045%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget ERAUSDT	0.06806	0.0100	pay 0.0050% / 4h	1h 22m	$822K	$237K	25x
Short	Bybit ERAUSDT	0.06797	0.0100	get 0.0050% / 4h	1h 22m	$771K	$817K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Bitget. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 BitgetbpFee BybitbpOrdersPrice spread, now −0.132%Rate

Funding earned: $0
Price spread: −0.132% → −0.045%: −$8.69
Slippage, 4 orders: −$191.23
Fee Bitget: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$222.92
Costs to cover: 2.142%
Break-even: never at this rate

Slippage from Bitget: live order book, 38 min ago; Bybit: live order book, 38 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 Bitget live order book, 38 min ago	8.12 bp	35.9 bp −$36	378.1 bp −$3,781	doesn't fit	doesn't fit
Sell Bybit live order book, 38 min ago	5.90 bp	67.7 bp −$68	doesn't fit	doesn't fit	doesn't fit

ERA on 9 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
Aster ERAUSDT	+0.0100%	4h	0.06789	−0.242%	$5K	$12K	5x	as long as short
Binance ERAUSDT	+0.0100%	4h	0.06796	−0.147%	$2.1M	$4.5M	25x	as long as short
Bybit ERAUSDTshort	+0.0100%	4h	0.06797	−0.132%	$771K	$817K	25x
Gate ERA_USDT	+0.0100%	4h	0.06787	−0.279%	$149K	$688K	25x	as long as short
MEXC ERA_USDT	+0.0100%	4h	0.06789	−0.250%	$535K	$151K	20x	as long as short
KuCoin ERAUSDTM	+0.0100%	4h	0.06784	−0.323%	$138K	$65K	25x	as long as short
Bitget ERAUSDTlong	+0.0100%	4h	0.06806	long leg	$822K	$237K	25x
BingX ERA-USDT	+0.0100%	4h	0.06793	−0.191%	—	$6.5M	—	as long as short
Variational Omni ERA	+0.0100%	4h	0.06785	−0.307%	$10K	$594	—	as long as short