Funding arb · Price arb /

S

all S markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0099%/8h= +10.9% APRpaid last 24h +0.024%

Price spread now: Bybit against gTrade (Gains Network)−0.305%7-day average — · you buy dearer than you sell

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

Long on gTrade (Gains Network)Short on Bybit

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

Funding pays, the price is against you. Bybit is 0.305% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.305% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$31 on $10k: about 10 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) S/USD	0.03930	L +0.0001% / S +0.0006%	pay 0.0000% / 1h	45m 09s	$606	—	150x
Short	Bybit SUSDT	0.03918	0.0100	get 0.0050% / 4h	2h 45m	$5.6M	$6.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee BybitbpOrdersPrice spread, now −0.305%Rate

Funding earned: $20.88
Price spread: −0.305% → 0.000%: −$30.53
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$30.65
Costs to cover: 0.210%
Break-even: 17.3 days

Slippage unknown: gTrade (Gains Network): no order-book sample; Bybit: live order book, 3 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell Bybit live order book, 3 min ago	2.55 bp	34.5 bp −$35	89.2 bp −$892	doesn't fit	doesn't fit

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	−0.1453%	1h	0.03927	−0.082%	$33K	$33K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1264%	1h	0.03826	−2.646%	$47K	$5K	25x	as long as short
Variational Omni S	−0.1174%	4h	0.03921	−0.241%	$610K	$34K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0173% / S +0.0169%	1h	0.03930	+0.003%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03924	−0.163%	$4	—	15x	as long as short
Aster SUSDT	−0.0033%	4h	0.03931	+0.017%	$43K	$212K	10x	as long as short
01 Exchange SUSD	−0.0032%	1h	0.03920	−0.254%	$24K	$3K	5x	as long as short
Orderly PERP_S_USDC	−0.0018%	4h	0.03929	−0.025%	$101K	$340K	10x	as long as short
gTrade (Gains Network) S/USDlong	L +0.0001% / S +0.0006%	1h	0.03930	long leg	$606	—	150x
Deribit S_USDC-PERPETUAL	+0.0004%	1h	0.03933	+0.076%	$66K	$10K	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	+4.326%	$2K	$37K	12x	as long as short
OKX S-USDT-SWAP	+0.0080%	4h	0.03923	−0.178%	$977K	$7.7M	20x	as long as short
Lighter S	+0.0096%	1h	0.03929	−0.025%	$165K	$240K	5x	as long as short
Hyperliquid S	+0.0100%	1h	0.03925	−0.120%	$990K	$929K	5x	as long as short
Binance SUSDT	+0.0100%	4h	0.03926	−0.101%	$5.4M	$24.3M	75x	as long as short
Bybit SUSDTshort	+0.0100%	4h	0.03918	−0.305%	$5.6M	$6.5M	50x
Gate S_USDT	+0.0100%	4h	0.03920	−0.254%	$320K	$291K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03925	−0.127%	$3.5M	$2.5M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03925	−0.127%	$1.8M	$3.1M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03930	0.000%	$1.2M	$3.0M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03925	−0.127%	—	$6.8M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03930	0.000%	$23K	$474K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03923	−0.169%	$221K	$883K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03926	−0.102%	$273K	$178K	75x	as long as short
Backpack S_USDC_PERP	+0.0358%	1h	0.03930	0.000%	$114K	$285K	5x	as long as short