Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.2372%/8h= +259.7% APRpaid last 24h +2.294%

Price spread now: Bybit against 01 Exchange−0.100%7-day average — · you buy dearer than you sell

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

Long on 01 Exchange 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 0.100% cheaper against 01 Exchange than usual: you would sell low and buy high (spread −0.100% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$10 on $10k: about 3 hours of funding at the current rate (+$71 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange SUSD	0.03990	−0.2272	get 0.0284% / 1h	20m 40s	$25K	$2K	5x
Short	Bybit SUSDT	0.03986	0.0100	get 0.0050% / 4h	3h 20m	$5.7M	$4.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against 01 Exchange. 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 01 ExchangebpFee BybitbpOrdersPrice spread, now −0.100%Rate

Funding earned: $498.12
Price spread: −0.100% → 0.000%: −$10.03
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $470.09
Costs to cover: 0.180%
Break-even: 0.4 days

Slippage unknown: 01 Exchange: no order-book sample; Bybit: live order book, 2 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 01 Exchange no order-book sample	—	—	—	—	—
Sell Bybit live order book, 2 min ago	3.76 bp	28.2 bp −$28	114.1 bp −$1,141	doesn't fit	doesn't fit

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 SUSDlong	−0.2272%	1h	0.03990	long leg	$25K	$2K	5x
Kraken Futures PF_SUSD	−0.2027%	1h	0.03986	−0.109%	$34K	$23K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1240%	1h	0.03959	−0.777%	$49K	$5K	25x	as long as short
Variational Omni S	−0.0762%	4h	0.03982	−0.192%	$619K	$31K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.03988	−0.050%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03984	−0.141%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03988	−0.046%	$615	—	150x	as long as short
Orderly PERP_S_USDC	+0.0026%	4h	0.03986	−0.100%	$102K	$331K	10x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+2.757%	$2K	$37K	12x	as long as short
Lighter S	+0.0096%	1h	0.03994	+0.100%	$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	+0.045%	$998K	$618K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.03987	−0.078%	$44K	$141K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.03992	+0.051%	$5.5M	$15.8M	75x	as long as short
Bybit SUSDTshort	+0.0100%	4h	0.03986	−0.100%	$5.7M	$4.9M	50x
OKX S-USDT-SWAP	+0.0100%	4h	0.03987	−0.075%	$982K	$4.6M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.03983	−0.175%	$325K	$218K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03991	+0.025%	$3.7M	$1.9M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03991	+0.025%	$1.8M	$2.9M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03993	+0.075%	$1.2M	$2.4M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03992	+0.050%	—	$6.7M	—	as long as short
Backpack S_USDC_PERP	+0.0100%	1h	0.03990	0.000%	$116K	$324K	5x	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03990	0.000%	$26K	$445K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03991	+0.033%	$224K	$1.2M	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03987	−0.075%	$270K	$126K	75x	as long as short
Deribit S_USDC-PERPETUAL	+0.0753%	1h	0.03992	+0.050%	$67K	$10K	10x	as long as short