Funding arb · Price arb /

NIGHT

all NIGHT markets

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 Binance0.000%7-day average +0.045% · you sell dearer than you buy

Net, funding: paid 7d − costs−$191as in the Funding arb table

Net, price: spread back to 7d avg − costs−$194as in the Price arb table

costs, in and out, $10k−$1901.897% of the position

Long on Binance Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.011%−$1 on $10k

Price spread, last 7 days−0.009%−$1 · spread now 0.000%, 7d avg +0.045%

Together, before fees−0.019%−$2 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 0.045% cheaper against Binance than usual: you would sell low and buy high, −$4 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	Binance NIGHTUSDT	0.02426	0.0100	pay 0.0050% / 4h	1h 55m	$5.4M	$6.8M	50x
Short	Bybit NIGHTUSDT	0.02426	0.0100	get 0.0050% / 4h	1h 55m	$2.0M	$1.0M	50x

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 0.000%Rate

Funding earned: $0
Price spread: 0.000% → +0.045%: −$4.46
Slippage, 4 orders: −$168.7
Fee Binance: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$194.16
Costs to cover: 1.897%
Break-even: never at this rate

Slippage from Binance: live order book, 13 min ago; Bybit: live order book, 1 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, 13 min ago	2.06 bp	23.6 bp −$24	163.2 bp −$1,632	doesn't fit	doesn't fit
Sell Bybit live order book, 1 min ago	6.19 bp	70.8 bp −$71	473.2 bp −$4,732	doesn't fit	doesn't fit

NIGHT on 15 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
Coinbase International NIGHT-PERP-INTX	−2.3328%	1h	0.02180	−10.132%	$1K	—	50x	as long as short
Injective NIGHT/USDC PERP	+0.0087%	1h	0.02429	+0.124%	$1K	$49K	5.5x	as long as short
Aster NIGHTUSDT	+0.0100%	4h	0.02425	−0.035%	$27K	$34K	10x	as long as short
Binance NIGHTUSDTlong	+0.0100%	4h	0.02426	long leg	$5.4M	$6.8M	50x
Bybit NIGHTUSDTshort	+0.0100%	4h	0.02426	0.000%	$2.0M	$1.0M	50x
OKX NIGHT-USDT-SWAP	+0.0100%	4h	0.02424	−0.074%	$1.6M	$1.8M	20x	as long as short
Gate NIGHT_USDT	+0.0100%	8h	0.02423	−0.124%	$225K	$282K	20x	as long as short
KuCoin NIGHTUSDTM	+0.0100%	4h	0.02427	+0.040%	$1.4M	$5.1M	50x	as long as short
Bitget NIGHTUSDT	+0.0100%	4h	0.02427	+0.041%	$649K	$416K	25x	as long as short
SunX NIGHT-USDT	+0.0100%	4h	0.02425	−0.041%	$2K	$2.0M	20x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin NIGHT-USDT	+0.0130%	4h	0.02421	−0.206%	$291K	$50K	50x	as long as short
BingX NIGHT-USDT	+0.0131%	4h	0.02425	−0.041%	—	$6.6M	—	as long as short
MEXC NIGHT_USDT	+0.0238%	4h	0.02425	−0.041%	$864K	$450K	100x	as long as short
Deribit NIGHT_USDC-PERPETUAL	+0.0533%	1h	0.02429	+0.132%	—	—	10x	as long as short
Kraken Futures PF_NIGHTUSD	+2.4803%	1h	0.02450	+1.000%	$67K	$61K	25x	as long as short