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 Bitget−0.210%7-day average −0.125% · you buy dearer than you sell

Net, funding: paid 7d − costs−$263as in the Funding arb table

Net, price: spread back to 7d avg − costs−$259as in the Price arb table

costs, in and out, $10k−$2502.502% of the position

Long on Bitget Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.125%−$13 on $10k

Price spread, last 7 days−0.072%−$7 · spread now −0.210%, 7d avg −0.125%

Together, before fees−0.197%−$20 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 0.086% 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 −0.125%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget IOUSDT	0.1521	0.0100	pay 0.0050% / 4h	2h 12m	$1.3M	$1.2M	50x
Short	Bybit IOUSDT	0.1518	0.0100	get 0.0050% / 4h	2h 12m	$1.1M	$913K	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

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 BitgetbpFee BybitbpOrdersPrice spread, now −0.210%Rate

Funding earned: $0
Price spread: −0.210% → −0.125%: −$8.55
Slippage, 4 orders: −$227.18
Fee Bitget: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$258.73
Costs to cover: 2.502%
Break-even: never at this rate

Slippage from Bitget: live order book, 4 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 Bitget live order book, 4 min ago	3.29 bp	38.1 bp −$38	263.6 bp −$2,636	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	6.60 bp	84.1 bp −$84	366.1 bp −$3,661	doesn't fit	doesn't fit

IO 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
Hyperliquid IO	+0.0100%	1h	0.1520	−0.059%	$1.0M	$386K	3x	as long as short
Aster IOUSDT	+0.0100%	4h	0.1520	−0.054%	$6K	$32K	5x	as long as short
Binance IOUSDT	+0.0100%	4h	0.1520	−0.066%	$3.0M	$6.6M	50x	as long as short
Bybit IOUSDTshort	+0.0100%	4h	0.1518	−0.210%	$1.1M	$913K	25x
Gate IO_USDT	+0.0100%	4h	0.1518	−0.197%	$235K	$561K	50x	as long as short
MEXC IO_USDT	+0.0100%	4h	0.1518	−0.197%	$1.2M	$231K	125x	as long as short
KuCoin IOUSDTM	+0.0100%	4h	0.1517	−0.263%	$355K	$679K	50x	as long as short
Bitget IOUSDTlong	+0.0100%	4h	0.1521	long leg	$1.3M	$1.2M	50x
BingX IO-USDT	+0.0100%	4h	0.1519	−0.131%	—	$1.3M	—	as long as short
Variational Omni IO	+0.0100%	4h	0.1516	−0.347%	$33K	$13K	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended IO-USD	+0.0104%	1h	0.1520	−0.089%	$3K	$132K	5x	as long as short
Injective IO/USDC PERP	+0.1587%	1h	0.1517	−0.263%	$2K	$202	5.5x	as long as short
Kraken Futures PF_IOUSD	+2.1540%	1h	0.1520	−0.050%	$39K	$18K	10x	as long as short