Funding arb · Price arb /

RUNE

all RUNE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0012%/8h= +1.3% APRpaid last 24h +0.060%

Price spread now: Coinbase International against Bybit+0.389%7-day average — · you sell dearer than you buy

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

Long on Bybit Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and Coinbase International is 0.389% dearer against Bybit than usual: you sell high and buy low: +$39 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit RUNEUSDT	0.6429	0.0100	pay 0.0100% / 8h	1h 22m	$2.7M	$1.6M	75x
Short	Coinbase International RUNE-PERP-INTX	0.6454	0.0112	get 0.0014% / 1h	22m 03s	$37K	$18K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Bybit. 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 BybitbpFee Coinbase InternationalbpOrdersPrice spread, now +0.389%Rate

Funding earned: $2.52
Price spread: +0.389% → 0.000%: $38.89
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $20.41
Costs to cover: 0.210%
Break-even: from the start

Slippage unknown: Bybit: live order book, 5 min ago; Coinbase International: no order-book sample. 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 Bybit live order book, 5 min ago	3.89 bp	39.0 bp −$39	70.8 bp −$708	doesn't fit	doesn't fit
Sell Coinbase International no order-book sample	—	—	—	—	—

Coinbase International: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

RUNE 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
Deribit RUNE_USDC-PERPETUAL	−0.0993%	1h	0.6429	0.000%	—	—	10x	as long as short
Injective RUNE/USDC PERP	+0.0033%	1h	0.6155	−4.262%	$7	$24	12x	as long as short
BloFin RUNE-USDT	+0.0087%	8h	0.6432	+0.047%	$458K	$157K	75x	as long as short
Binance RUNEUSDT	+0.0100%	8h	0.6429	+0.003%	$4.8M	$10.5M	75x	as long as short
Bybit RUNEUSDTlong	+0.0100%	8h	0.6429	long leg	$2.7M	$1.6M	75x
Gate RUNE_USDT	+0.0100%	8h	0.6433	+0.062%	$663K	$302K	50x	as long as short
MEXC RUNE_USDT	+0.0100%	8h	0.6430	+0.016%	$3.5M	$1.7M	125x	as long as short
KuCoin RUNEUSDTM	+0.0100%	8h	0.6430	+0.016%	$906K	$201K	50x	as long as short
Bitget RUNEUSDT	+0.0100%	8h	0.6436	+0.109%	$1.6M	$510K	50x	as long as short
BingX RUNE-USDT	+0.0100%	8h	0.6428	−0.016%	—	$59.1M	—	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni RUNE	+0.0100%	8h	0.6424	−0.082%	$127K	$9K	—	as long as short
Extended RUNE-USD	+0.0104%	1h	0.6428	−0.022%	$4K	$170K	10x	as long as short
Coinbase International RUNE-PERP-INTXshort	+0.0112%	1h	0.6454	+0.389%	$37K	$18K	25x
Hyperliquid RUNE	+0.0750%	1h	0.6445	+0.246%	$1.7M	$868K	5x	as long as short
dYdX RUNE-USD	+0.1294%	1h	0.6424	−0.084%	$55K	$4K	5x	as long as short
Kraken Futures PF_RUNEUSD	+0.2125%	1h	0.6449	+0.316%	$188K	$230K	20x	as long as short