Funding arb · Price arb /

NOT

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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 −0.013%

Price spread now: Bybit against Binance−0.047%7-day average −0.096% · you buy dearer than you sell

Net, funding: paid 7d − costs−$84as in the Funding arb table

Net, price: spread back to 7d avg − costs−$80as in the Price arb table

costs, in and out, $10k−$850.853% of the position

Long on Binance Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.015%+$2 on $10k

Price spread, last 7 days+0.040%+$4 · spread now −0.047%, 7d avg −0.096%

Together, before fees+0.055%+$6 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 0.049% dearer against Binance than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.096%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance NOTUSDT	0.0005067	0.0100	pay 0.0050% / 4h	34m 53s	$2.1M	$3.1M	50x
Short	Bybit NOTUSDT	0.0005065	0.0100	get 0.0050% / 4h	34m 53s	$2.1M	$824K	25x

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 −0.047%Rate

Funding earned: $0
Price spread: −0.047% → −0.096%: $4.89
Slippage, 4 orders: −$64.32
Fee Binance: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$80.43
Costs to cover: 0.853%
Break-even: never at this rate

Slippage from Binance: live order book, 16 min ago; Bybit: live order book, 2 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	1.96 bp	18.4 bp −$18	108.4 bp −$1,084	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	0.99 bp	28.4 bp −$28	146.0 bp −$1,460	doesn't fit	doesn't fit

NOT on 16 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
Variational Omni NOT	−0.0102%	4h	0.0005065	−0.049%	$71K	$39K	—	as long as short
Injective NOT/USDC PERP	+0.0033%	1h	0.0004874	−3.817%	$1K	$13K	5.5x	as long as short
BloFin NOT-USDT	+0.0081%	4h	0.0005068	+0.012%	$111K	$17K	50x	as long as short
Lighter 1000NOT	+0.0096%	1h	0.0005080	+0.245%	$11K	$5K	3x	as long as short
Hyperliquid NOT	+0.0100%	1h	0.0005070	+0.051%	$371K	$50K	3x	as long as short
Aster NOTUSDT	+0.0100%	4h	0.0005071	+0.073%	$14K	$9K	5x	as long as short
Binance NOTUSDTlong	+0.0100%	4h	0.0005067	long leg	$2.1M	$3.1M	50x
Bybit NOTUSDTshort	+0.0100%	4h	0.0005065	−0.047%	$2.1M	$824K	25x
OKX NOT-USDT-SWAP	+0.0100%	4h	0.0005069	+0.032%	$625K	$604K	20x	as long as short
Gate NOT_USDT	+0.0100%	4h	0.0005080	+0.249%	$141K	$78K	50x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC NOT_USDT	+0.0100%	4h	0.0005068	+0.012%	$1.4M	$460K	200x	as long as short
KuCoin NOTUSDTM	+0.0100%	4h	0.0005065	−0.047%	$463K	$137K	50x	as long as short
Bitget NOTUSDT	+0.0100%	4h	0.0005072	+0.091%	$666K	$382K	50x	as long as short
BingX NOT-USDT	+0.0100%	4h	0.0005067	−0.008%	—	$7.5M	—	as long as short
Extended kNOT-USD	+0.0104%	1h	0.0005069	+0.032%	$4K	$1K	5x	as long as short
Kraken Futures PF_NOTUSD	+0.4207%	1h	0.0005070	+0.055%	$49K	$10K	10x	as long as short