Funding arb · Price arb /

NIGHT

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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 SunX+0.125%7-day average +0.026% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on SunX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.021%−$2 on $10k

Price spread, last 3 days (all we have)−0.217%−$22 · spread now +0.125%, 7d avg +0.026%

Together, before fees−0.238%−$24 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 0.099% dearer against SunX than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of +0.026%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX NIGHT-USDT	0.02404	0.0100	pay 0.0050% / 4h	2h 55m	$1K	$1.9M	20x
Short	Bybit NIGHTUSDT	0.02407	0.0100	get 0.0050% / 4h	2h 55m	$2.0M	$1.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against SunX. 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 SunXbpFee BybitbpOrdersPrice spread, now +0.125%Rate

Funding earned: $0
Price spread: +0.125% → +0.026%: $9.89
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$9.11
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 1 min ago; Bybit: live order book, 1 min ago. Net counts fees only.

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 SunX live order book, 1 min ago	500.52 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 1 min ago	6.24 bp	67.5 bp −$67	431.3 bp −$4,313	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	−9.309%	$1K	—	50x	as long as short
Kraken Futures PF_NIGHTUSD	−0.1295%	1h	0.02419	+0.637%	$63K	$61K	25x	as long as short
Injective NIGHT/USDC PERP	+0.0033%	1h	0.02435	+1.290%	$1K	$58K	5.5x	as long as short
BloFin NIGHT-USDT	+0.0066%	4h	0.02406	+0.083%	$285K	$42K	50x	as long as short
Aster NIGHTUSDT	+0.0100%	4h	0.02405	+0.053%	$27K	$35K	10x	as long as short
Binance NIGHTUSDT	+0.0100%	4h	0.02406	+0.083%	$5.3M	$6.6M	50x	as long as short
Bybit NIGHTUSDTshort	+0.0100%	4h	0.02407	+0.125%	$2.0M	$1.0M	50x
OKX NIGHT-USDT-SWAP	+0.0100%	4h	0.02406	+0.067%	$1.6M	$1.8M	20x	as long as short
Gate NIGHT_USDT	+0.0100%	8h	0.02405	+0.042%	$222K	$200K	20x	as long as short
KuCoin NIGHTUSDTM	+0.0100%	4h	0.02409	+0.196%	$1.4M	$5.2M	50x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget NIGHTUSDT	+0.0100%	4h	0.02409	+0.208%	$643K	$398K	25x	as long as short
SunX NIGHT-USDTlong	+0.0100%	4h	0.02404	long leg	$1K	$1.9M	20x
BingX NIGHT-USDT	+0.0120%	4h	0.02405	+0.042%	—	$6.6M	—	as long as short
MEXC NIGHT_USDT	+0.0238%	4h	0.02406	+0.083%	$860K	$456K	100x	as long as short
Deribit NIGHT_USDC-PERPETUAL	+0.0997%	1h	0.02410	+0.237%	$99	$99	10x	as long as short