Funding arb · Price arb /

NIGHT

all NIGHT markets

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−0.123%7-day average +0.016% · you buy dearer than you sell

Net, funding: paid 7d − costs−$209as in the Funding arb table

Net, price: spread back to 7d avg − costs−$223as in the Price arb table

costs, in and out, $10k−$2092.091% of the position

Long on Bitget Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.002%$0 on $10k

Price spread, last 4 days (all we have)+0.039%+$4 · spread now −0.123%, 7d avg +0.016%

Together, before fees+0.037%+$4 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 0.139% cheaper against Bitget than usual: you would sell low and buy high, −$14 on $10k if it goes back to its 7-day average of +0.016%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget NIGHTUSDT	0.02440	0.0100	pay 0.0050% / 4h	1h 20m	$653K	$399K	25x
Short	Bybit NIGHTUSDT	0.02437	0.0100	get 0.0050% / 4h	1h 20m	$2.0M	$1.0M	50x

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 −0.123%Rate

Funding earned: $0
Price spread: −0.123% → +0.016%: −$13.87
Slippage, 4 orders: −$186.08
Fee Bitget: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$222.95
Costs to cover: 2.091%
Break-even: never at this rate

Slippage from Bitget: live order book, 40 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 Bitget live order book, 40 min ago	6.20 bp	35.6 bp −$36	306.0 bp −$3,060	doesn't fit	doesn't fit
Sell Bybit live order book, 1 min ago	6.14 bp	71.7 bp −$72	507.5 bp −$5,075	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	−10.648%	$1K	—	50x	as long as short
Injective NIGHT/USDC PERP	+0.0033%	1h	0.02435	−0.205%	$1K	$58K	5.5x	as long as short
Aster NIGHTUSDT	+0.0100%	4h	0.02442	+0.066%	$27K	$35K	10x	as long as short
Binance NIGHTUSDT	+0.0100%	4h	0.02438	−0.093%	$5.4M	$6.5M	50x	as long as short
Bybit NIGHTUSDTshort	+0.0100%	4h	0.02437	−0.123%	$2.0M	$1.0M	50x
OKX NIGHT-USDT-SWAP	+0.0100%	4h	0.02436	−0.168%	$1.6M	$1.9M	20x	as long as short
Gate NIGHT_USDT	+0.0100%	8h	0.02439	−0.041%	$224K	$203K	20x	as long as short
KuCoin NIGHTUSDTM	+0.0100%	4h	0.02445	+0.215%	$1.4M	$5.2M	50x	as long as short
Bitget NIGHTUSDTlong	+0.0100%	4h	0.02440	long leg	$653K	$399K	25x
SunX NIGHT-USDT	+0.0100%	4h	0.02442	+0.082%	$2K	$1.9M	20x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX NIGHT-USDT	+0.0126%	4h	0.02437	−0.123%	—	$6.6M	—	as long as short
BloFin NIGHT-USDT	+0.0129%	4h	0.02434	−0.246%	$286K	$42K	50x	as long as short
MEXC NIGHT_USDT	+0.0250%	4h	0.02438	−0.082%	$811K	$458K	100x	as long as short
Deribit NIGHT_USDC-PERPETUAL	+0.0897%	1h	0.02443	+0.135%	$100	$99	10x	as long as short
Kraken Futures PF_NIGHTUSD	+0.5532%	1h	0.02458	+0.722%	$64K	$60K	25x	as long as short