Funding arb · Price arb /

S

all S markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0106%/8h= −11.6% APRpaid last 24h −0.026%

Price spread now: gTrade (Gains Network) against Bybit+0.291%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 gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 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

The price spread pays, funding is against you. gTrade (Gains Network) is 0.291% dearer against Bybit than usual: you sell high and buy low (spread +0.291% now, against zero (this spread has no 7-day history yet)): +$29 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 9.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit SUSDT	0.03929	0.0100	pay 0.0050% / 4h	1h 38m	$5.6M	$5.8M	50x
Short	gTrade (Gains Network) S/USD	0.03940	L +0.0001% / S +0.0006%	pay 0.0001% / 1h	38m 14s	$607	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now +0.291%Rate

Funding earned: −$22.28
Price spread: +0.291% → 0.000%: $29.12
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$14.17
Costs to cover: 0.210%
Break-even: from the start

Slippage unknown: Bybit: live order book, 5 min ago; gTrade (Gains Network): 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	2.55 bp	21.4 bp −$21	93.7 bp −$937	doesn't fit	doesn't fit
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

gTrade (Gains Network): 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.

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	−0.1589%	1h	0.03934	+0.132%	$33K	$26K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1576%	1h	0.03826	−2.622%	$47K	$5K	25x	as long as short
Variational Omni S	−0.0886%	4h	0.03930	+0.027%	$611K	$31K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0195% / S +0.0188%	1h	0.03941	+0.318%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03938	+0.230%	$4	—	15x	as long as short
01 Exchange SUSD	−0.0008%	1h	0.03940	+0.280%	$24K	$2K	5x	as long as short
gTrade (Gains Network) S/USDshort	L +0.0001% / S +0.0006%	1h	0.03940	+0.291%	$607	—	150x
Orderly PERP_S_USDC	+0.0024%	4h	0.03939	+0.255%	$100K	$347K	10x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+4.352%	$2K	$37K	12x	as long as short
Aster SUSDT	+0.0064%	4h	0.03939	+0.262%	$43K	$212K	10x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter S	+0.0096%	1h	0.03940	+0.280%	$165K	$222K	5x	as long as short
Hyperliquid S	+0.0100%	1h	0.03940	+0.272%	$989K	$756K	5x	as long as short
Binance SUSDT	+0.0100%	4h	0.03937	+0.201%	$5.4M	$19.8M	75x	as long as short
Bybit SUSDTlong	+0.0100%	4h	0.03929	long leg	$5.6M	$5.8M	50x
OKX S-USDT-SWAP	+0.0100%	4h	0.03933	+0.102%	$981K	$6.2M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.03933	+0.102%	$321K	$265K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03938	+0.229%	$3.6M	$2.3M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03931	+0.051%	$1.8M	$3.0M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03936	+0.178%	$1.2M	$2.7M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03934	+0.127%	—	$6.7M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03940	+0.280%	$25K	$465K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03934	+0.116%	$221K	$881K	10x	as long as short
Backpack S_USDC_PERP	+0.0328%	1h	0.03940	+0.280%	$115K	$300K	5x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03930	+0.025%	$268K	$127K	75x	as long as short
Deribit S_USDC-PERPETUAL	+0.0511%	1h	0.03945	+0.407%	$66K	$10K	10x	as long as short