Funding arb · Price arb /

S

all S markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.1564%/8h= +171.3% APRpaid last 24h +0.605%

Price spread now: Bybit against Coinbase International+0.796%7-day average — · you sell dearer than you buy

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

Long on Coinbase International Short on Bybit

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 +$47 a day on $10k at the current rate, and Bybit is 0.796% dearer against Coinbase International than usual: you sell high and buy low: +$80 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	Coinbase International S-PERP-INTX	0.04022	−0.1464	get 0.0183% / 1h	33m 01s	$48K	$16K	25x
Short	Bybit SUSDT	0.04054	0.0100	get 0.0050% / 4h	2h 33m	$5.8M	$4.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Coinbase International. 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 Coinbase InternationalbpFee BybitbpOrdersPrice spread, now +0.796%Rate

Funding earned: $328.44
Price spread: +0.796% → 0.000%: $79.56
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $387
Costs to cover: 0.210%
Break-even: from the start

Slippage unknown: Coinbase International: no order-book sample; Bybit: live order book, 5 min ago. 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 Coinbase International no order-book sample	—	—	—	—	—
Sell Bybit live order book, 5 min ago	2.47 bp	25.1 bp −$25	115.3 bp −$1,153	doesn't fit	doesn't fit

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.

S on 24 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 SUSD	−0.7408%	1h	0.03940	−2.039%	$24K	$2K	5x	as long as short
Coinbase International S-PERP-INTXlong	−0.1464%	1h	0.04022	long leg	$48K	$16K	25x
Kraken Futures PF_SUSD	−0.1250%	1h	0.04054	+0.807%	$34K	$23K	10x	as long as short
Variational Omni S	−0.0509%	4h	0.04066	+1.091%	$632K	$30K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.04063	+1.027%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.04058	+0.905%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04062	+0.993%	$2K	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+1.939%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0041%	4h	0.04060	+0.945%	$102K	$337K	10x	as long as short
Lighter S	+0.0096%	1h	0.04064	+1.044%	$168K	$165K	5x	as long as short

Show all 24 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid S	+0.0100%	1h	0.04061	+0.965%	$1.0M	$572K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04058	+0.901%	$44K	$137K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.04061	+0.964%	$5.6M	$15.4M	75x	as long as short
Bybit SUSDTshort	+0.0100%	4h	0.04054	+0.796%	$5.8M	$4.9M	50x
OKX S-USDT-SWAP	+0.0100%	4h	0.04060	+0.945%	$1.0M	$4.5M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.04056	+0.845%	$336K	$203K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.04061	+0.970%	$3.9M	$1.8M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.04057	+0.870%	$1.9M	$2.9M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.04060	+0.945%	$1.2M	$2.4M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.04058	+0.895%	—	$6.7M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.04060	+0.945%	$26K	$452K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.04058	+0.899%	$230K	$1.1M	10x	as long as short
Deribit S_USDC-PERPETUAL	+0.0734%	1h	0.04067	+1.119%	$68K	$10K	10x	as long as short
Backpack S_USDC_PERP	+0.1067%	1h	0.04070	+1.193%	$122K	$345K	5x	as long as short