Funding arb · Price arb /

PIXEL

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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+0.018%7-day average +0.043% · you sell dearer than you buy

Net, funding: paid 7d − costs−$225as in the Funding arb table

Net, price: spread back to 7d avg − costs−$227as in the Price arb table

costs, in and out, $10k−$2252.249% of the position

Long on Bitget Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)+0.050%+$5 · spread now +0.018%, 7d avg +0.043%

Together, before fees+0.050%+$5 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 0.024% cheaper against Bitget than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of +0.043%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget PIXELUSDT	0.005469	0.0100	pay 0.0050% / 4h	2h 12m	$586K	$422K	25x
Short	Bybit PIXELUSDT	0.005470	0.0100	get 0.0050% / 4h	2h 12m	$528K	$201K	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 +0.018%Rate

Funding earned: $0
Price spread: +0.018% → +0.043%: −$2.43
Slippage, 4 orders: −$201.93
Fee Bitget: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$227.36
Costs to cover: 2.249%
Break-even: never at this rate

Slippage from Bitget: live order book, 53 min ago; Bybit: live order book, 47 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, 53 min ago	9.06 bp	25.8 bp −$26	213.2 bp −$2,132	49600.0 bp −$4.96M	doesn't fit
Sell Bybit live order book, 47 min ago	5.48 bp	89.1 bp −$89	doesn't fit	doesn't fit	doesn't fit

PIXEL on 10 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
Kraken Futures PF_PIXELUSD	−0.0655%	1h	0.005520	+0.926%	$5K	$2K	10x	as long as short
Aster PIXELUSDT	+0.0100%	4h	0.005470	+0.025%	$4K	$4K	5x	as long as short
Binance PIXELUSDT	+0.0100%	4h	0.005467	−0.036%	$1.8M	$1.7M	25x	as long as short
Bybit PIXELUSDTshort	+0.0100%	4h	0.005470	+0.018%	$528K	$201K	25x
Gate PIXEL_USDT	+0.0100%	4h	0.005471	+0.037%	$150K	$39K	50x	as long as short
MEXC PIXEL_USDT	+0.0100%	4h	0.005468	−0.018%	$904K	$206K	20x	as long as short
KuCoin PIXELUSDTM	+0.0100%	4h	0.005469	0.000%	$359K	$75K	25x	as long as short
Bitget PIXELUSDTlong	+0.0100%	4h	0.005469	long leg	$586K	$422K	25x
BingX PIXEL-USDT	+0.0100%	4h	0.005468	−0.018%	—	$1.3M	—	as long as short
Variational Omni PIXEL	+0.0100%	4h	0.005474	+0.100%	$1K	$254	—	as long as short