Funding arb · Price arb /

FOGO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Binance against Bybit+0.015%7-day average +0.084% · you sell dearer than you buy

Net, funding: paid 7d − costs−$200as in the Funding arb table

Net, price: spread back to 7d avg − costs−$209as in the Price arb table

costs, in and out, $10k−$2022.023% of the position

Long on Bybit Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.024%+$2 on $10k

Price spread, last 4 days (all we have)−0.023%−$2 · spread now +0.015%, 7d avg +0.084%

Together, before fees+0.002%$0 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: Binance is 0.069% cheaper against Bybit than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of +0.084%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit FOGOUSDT	0.006872	0.0100	pay 0.0050% / 4h	56m 55s	$764K	$174K	50x
Short	Binance FOGOUSDT	0.006873	0.0100	get 0.0050% / 4h	56m 55s	$1.9M	$2.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.015%Rate

Funding earned: $0
Price spread: +0.015% → +0.084%: −$6.94
Slippage, 4 orders: −$181.33
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Binance: 5 bp × 2 orders: −$10
Net: −$209.27
Costs to cover: 2.023%
Break-even: never at this rate

Slippage from Bybit: live order book, 18 min ago; Binance: live order book, 7 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, 18 min ago	6.65 bp	75.5 bp −$75	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 7 min ago	2.21 bp	26.7 bp −$27	105.1 bp −$1,051	doesn't fit	doesn't fit

FOGO on 13 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 FOGO	+0.0096%	1h	0.006882	+0.146%	$11K	$11K	3x	as long as short
Hyperliquid FOGO	+0.0100%	1h	0.006870	−0.029%	$722K	$300K	3x	as long as short
Binance FOGOUSDTshort	+0.0100%	4h	0.006873	+0.015%	$1.9M	$2.0M	50x
Bybit FOGOUSDTlong	+0.0100%	4h	0.006872	long leg	$764K	$174K	50x
OKX FOGO-USDT-SWAP	+0.0100%	4h	0.006866	−0.087%	$515K	$795K	10x	as long as short
Gate FOGO_USDT	+0.0100%	4h	0.006850	−0.320%	$109K	$47K	50x	as long as short
MEXC FOGO_USDT	+0.0100%	4h	0.006872	0.000%	$332K	$120K	50x	as long as short
KuCoin FOGOUSDTM	+0.0100%	4h	0.006850	−0.320%	$284K	$93K	50x	as long as short
Bitget FOGOUSDT	+0.0100%	4h	0.006860	−0.175%	$128K	$99K	25x	as long as short
BingX FOGO-USDT	+0.0100%	4h	0.006871	−0.015%	—	$1.3M	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni FOGO	+0.0100%	4h	0.006802	−1.025%	$95K	$2K	—	as long as short
SunX FOGO-USDT	+0.0100%	4h	0.006860	−0.175%	$2K	$1.1M	20x	as long as short
Aster FOGOUSDT	+0.0120%	4h	0.006856	−0.231%	$12K	$13K	5x	as long as short