Funding arb · Price arb /

GWEI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0203%/8h= −22.2% APRpaid last 24h −0.062%

Price spread now: Bybit against Extended+0.237%7-day average +0.094% · you sell dearer than you buy

Net, funding: paid 7d − costs−$711as in the Funding arb table

Net, price: spread back to 7d avg − costs−$684as in the Price arb table

costs, in and out, $10k−$6986.979% of the position

Long on Extended Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.135%−$13 on $10k

Price spread, last 4 days (all we have)−0.100%−$10 · spread now +0.237%, 7d avg +0.094%

Together, before fees−0.234%+ Points / potential airdropExtended: Active · farm board−$23 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.143% dearer against Extended than usual: you sell high and buy low (spread +0.237% now, against its 7-day average of +0.094%): +$14 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 2.4 days. At the pace of the last 7 days (−0.135% in total) that is about 7.4 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.135% in total (about -7.0% 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	Extended GWEI-USD	0.02388	0.0304	pay 0.0038% / 1h	30m 12s	$6K	$126K	5x
Short	Bybit GWEIUSDT	0.02394	0.0101	get 0.0051% / 4h	30m 12s	$400K	$184K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Extended. 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 ExtendedbpFee BybitbpOrdersPrice spread, now +0.237%Rate

Funding earned: −$42.62
Price spread: +0.237% → +0.094%: $14.33
Slippage, 4 orders: −$681.9
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$726.2
Costs to cover: 6.979%
Break-even: never at this rate

Slippage from Extended: live order book, 25 min ago; Bybit: live order book, 19 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 Extended live order book, 25 min ago	12.24 bp	45.1 bp −$45	538.2 bp −$5,382	doesn't fit	doesn't fit
Sell Bybit live order book, 19 min ago	2.11 bp	220.4 bp −$220	doesn't fit	doesn't fit	doesn't fit

GWEI on 11 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
Variational Omni GWEI	+0.0100%	4h	0.02377	−0.492%	$4K	$55	—	as long as short
Bybit GWEIUSDTshort	+0.0101%	4h	0.02394	+0.237%	$400K	$184K	25x
KuCoin GWEIUSDTM	+0.0104%	4h	0.02381	−0.294%	$468K	$26K	20x	as long as short
Bitget GWEIUSDT	+0.0236%	4h	0.02390	+0.070%	$1.9M	$319K	20x	as long as short
BloFin GWEI-USDT	+0.0287%	4h	0.02385	−0.139%	$184K	$35K	50x	as long as short
MEXC GWEI_USDT	+0.0290%	4h	0.02391	+0.112%	$118K	$87K	20x	as long as short
BingX GWEI-USDT	+0.0296%	4h	0.02392	+0.154%	—	$1.6M	—	as long as short
Binance GWEIUSDT	+0.0303%	4h	0.02392	+0.167%	$2.6M	$3.3M	50x	as long as short
Extended GWEI-USDlong	+0.0304%	1h	0.02388	long leg	$6K	$126K	5x
Gate GWEI_USDT	+0.1236%	4h	0.02392	+0.158%	$401K	$452K	10x	as long as short

Show all 11 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster GWEIUSDT	+0.1434%	4h	0.02379	−0.408%	$18K	$22K	10x	as long as short