Funding arb · Price arb /

H

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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: Bybit against Binance−0.138%7-day average −0.279% · you buy dearer than you sell

Net, funding: paid 7d − costs−$161as in the Funding arb table

Net, price: spread back to 7d avg − costs−$121as in the Price arb table

costs, in and out, $10k−$1351.350% of the position

Long on Binance Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.262%−$26 on $10k

Price spread, last 7 days−0.156%−$16 · spread now −0.138%, 7d avg −0.279%

Together, before fees−0.418%−$42 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 0.141% dearer against Binance than usual: you sell high and buy low, +$14 on $10k if it goes back to its 7-day average of −0.279%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance HUSDT	0.07079	0.0100	pay 0.0050% / 4h	2h 40m	$15.2M	$10.2M	10x
Short	Bybit HUSDT	0.07069	0.0100	get 0.0050% / 4h	2h 40m	$7.8M	$4.3M	13x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Binance. 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 BinancebpFee BybitbpOrdersPrice spread, now −0.138%Rate

Funding earned: $0
Price spread: −0.138% → −0.279%: $14.07
Slippage, 4 orders: −$113.96
Fee Binance: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$120.9
Costs to cover: 1.350%
Break-even: never at this rate

Slippage from Binance: live order book, 16 min ago; Bybit: live order book, 3 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 Binance live order book, 16 min ago	1.40 bp	26.1 bp −$26	217.6 bp −$2,176	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	4.25 bp	38.5 bp −$38	163.8 bp −$1,638	doesn't fit	doesn't fit

H on 14 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 H/USDC PERP	+0.0033%	1h	0.06250	−11.711%	$1K	$1	5.5x	as long as short
BloFin H-USDT	+0.0092%	4h	0.07074	−0.071%	$604K	$113K	25x	as long as short
Aster HUSDT	+0.0100%	4h	0.07082	+0.043%	$119K	$46K	5x	as long as short
Binance HUSDTlong	+0.0100%	4h	0.07079	long leg	$15.2M	$10.2M	10x
Bybit HUSDTshort	+0.0100%	4h	0.07069	−0.138%	$7.8M	$4.3M	13x
OKX H-USDT-SWAP	+0.0100%	4h	0.07081	+0.028%	$1.7M	$5.7M	10x	as long as short
Gate H_USDT	+0.0100%	4h	0.07068	−0.155%	$2.9M	$1.9M	10x	as long as short
MEXC H_USDT	+0.0100%	4h	0.07080	+0.014%	$6.4M	$1.1M	20x	as long as short
KuCoin HUSDTM	+0.0100%	4h	0.07083	+0.057%	$1.6M	$9.9M	8x	as long as short
Bitget HUSDT	+0.0100%	4h	0.07071	−0.113%	$1.7M	$445K	4x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX H-USDT	+0.0100%	4h	0.07077	−0.028%	—	$2.7M	—	as long as short
Variational Omni H	+0.0100%	4h	0.07064	−0.211%	$8K	$12K	—	as long as short
GRVT H_USDT_Perp	+0.0100%	4h	0.07075	−0.056%	$1.2M	$478K	10x	as long as short
Extended H-USD	+0.0104%	1h	0.07078	−0.013%	$12K	$107K	5x	as long as short