Funding arb · Price arb /

S

all S markets

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 +0.001%

Price spread now: Binance against Bybit+0.153%7-day average +0.076% · you sell dearer than you buy

Net, funding: paid 7d − costs−$93as in the Funding arb table

Net, price: spread back to 7d avg − costs−$77as in the Price arb table

costs, in and out, $10k−$850.852% of the position

Long on Bybit Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.079%−$8 on $10k

Price spread, last 7 days−0.071%−$7 · spread now +0.153%, 7d avg +0.076%

Together, before fees−0.150%−$15 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: Binance is 0.077% dearer against Bybit than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of +0.076%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit SUSDT	0.03919	0.0100	pay 0.0050% / 4h	1h 54m	$5.6M	$6.2M	50x
Short	Binance SUSDT	0.03925	0.0100	get 0.0050% / 4h	1h 54m	$5.4M	$22.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.153%Rate

Funding earned: $0
Price spread: +0.153% → +0.076%: $7.69
Slippage, 4 orders: −$64.18
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Binance: 5 bp × 2 orders: −$10
Net: −$77.49
Costs to cover: 0.852%
Break-even: never at this rate

Slippage from Bybit: live order book, 3 min ago; Binance: 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 Bybit live order book, 3 min ago	2.56 bp	22.3 bp −$22	74.9 bp −$749	doesn't fit	doesn't fit
Sell Binance live order book, 1 min ago	2.55 bp	15.9 bp −$16	57.1 bp −$571	doesn't fit	doesn't fit

S on 25 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_SUSD	−0.1593%	1h	0.03923	+0.096%	$33K	$30K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1576%	1h	0.03826	−2.373%	$47K	$5K	25x	as long as short
Variational Omni S	−0.0793%	4h	0.03918	−0.021%	$609K	$34K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0193% / S +0.0186%	1h	0.03930	+0.283%	$1K	—	100x	as long as short
01 Exchange SUSD	−0.0160%	1h	0.03920	+0.026%	$24K	$3K	5x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03923	+0.114%	$4	—	15x	as long as short
Deribit S_USDC-PERPETUAL	−0.0004%	1h	0.03931	+0.306%	$66K	$10K	10x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03930	+0.278%	$606	—	150x	as long as short
Hyperliquid S	+0.0009%	1h	0.03925	+0.151%	$985K	$878K	5x	as long as short
Orderly PERP_S_USDC	+0.0020%	4h	0.03926	+0.179%	$100K	$350K	10x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective S/USDC PERP	+0.0033%	1h	0.04100	+4.619%	$2K	$37K	12x	as long as short
Aster SUSDT	+0.0043%	4h	0.03927	+0.191%	$43K	$212K	10x	as long as short
Lighter S	+0.0096%	1h	0.03929	+0.255%	$165K	$222K	5x	as long as short
Binance SUSDTshort	+0.0100%	4h	0.03925	+0.153%	$5.4M	$22.2M	75x
Bybit SUSDTlong	+0.0100%	4h	0.03919	long leg	$5.6M	$6.2M	50x
OKX S-USDT-SWAP	+0.0100%	4h	0.03924	+0.128%	$979K	$7.0M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.03917	−0.051%	$320K	$265K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03927	+0.204%	$3.5M	$2.3M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03922	+0.077%	$1.8M	$3.1M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03924	+0.128%	$1.2M	$2.8M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03924	+0.128%	—	$6.8M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03920	+0.026%	$23K	$469K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03923	+0.104%	$221K	$883K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03918	−0.026%	$268K	$132K	75x	as long as short
Backpack S_USDC_PERP	+0.0363%	1h	0.03930	+0.281%	$114K	$298K	5x	as long as short