Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.2212%/8h= −242.2% APRpaid last 24h −2.294%

Price spread now: 01 Exchange against Bybit−0.151%7-day average — · you buy dearer than you sell

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

Long on Bybit Short on 01 Exchange

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

Both sides work against this trade now: funding costs −$66 a day on $10k at the current rate, and 01 Exchange is 0.151% cheaper against Bybit than usual: you would sell low and buy high (−$15 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit SUSDT	0.03986	0.0100	pay 0.0050% / 4h	3h 17m	$5.7M	$4.9M	50x
Short	01 Exchange SUSD	0.03980	−0.2112	pay 0.0264% / 1h	17m 09s	$25K	$2K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now −0.151%Rate

Funding earned: −$464.52
Price spread: −0.151% → 0.000%: −$15.05
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$497.57
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 1 min ago; 01 Exchange: 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, 1 min ago	2.51 bp	26.3 bp −$26	98.2 bp −$982	doesn't fit	doesn't fit
Sell 01 Exchange no order-book sample	—	—	—	—	—

01 Exchange: 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
01 Exchange SUSDshort	−0.2112%	1h	0.03980	−0.151%	$25K	$2K	5x
Kraken Futures PF_SUSD	−0.2027%	1h	0.03986	+0.003%	$34K	$23K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1240%	1h	0.03959	−0.677%	$49K	$5K	25x	as long as short
Variational Omni S	−0.0762%	4h	0.03982	−0.092%	$619K	$31K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.03991	+0.135%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03987	+0.029%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03991	+0.129%	$615	—	150x	as long as short
Orderly PERP_S_USDC	+0.0027%	4h	0.03990	+0.100%	$102K	$331K	10x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+2.860%	$2K	$37K	12x	as long as short
Lighter S	+0.0096%	1h	0.03994	+0.201%	$163K	$192K	5x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid S	+0.0100%	1h	0.03992	+0.146%	$998K	$619K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.03994	+0.189%	$44K	$141K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.03990	+0.107%	$5.5M	$15.7M	75x	as long as short
Bybit SUSDTlong	+0.0100%	4h	0.03986	long leg	$5.7M	$4.9M	50x
OKX S-USDT-SWAP	+0.0100%	4h	0.03990	+0.100%	$982K	$4.5M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.03984	−0.050%	$325K	$218K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03991	+0.125%	$3.7M	$1.9M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03992	+0.151%	$1.8M	$2.9M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03993	+0.176%	$1.2M	$2.4M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03989	+0.075%	—	$6.7M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03990	+0.100%	$26K	$443K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03988	+0.041%	$224K	$1.1M	10x	as long as short
Backpack S_USDC_PERP	+0.0143%	1h	0.03990	+0.100%	$116K	$323K	5x	as long as short
Deribit S_USDC-PERPETUAL	+0.0251%	1h	0.03995	+0.226%	$67K	$10K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03985	−0.025%	$269K	$126K	75x	as long as short