Funding arb · Price arb /

SKL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.116%

Price spread now: Bybit against Bitget0.000%7-day average +0.045% · you sell dearer than you buy

Net, funding: paid 7d − costs−$165as in the Funding arb table

Net, price: spread back to 7d avg − costs−$220as in the Price arb table

costs, in and out, $10k−$2162.155% of the position

Long on Bitget Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.509%+$51 on $10k

Price spread, last 4 days (all we have)+0.029%+$3 · spread now 0.000%, 7d avg +0.045%

Together, before fees+0.538%+$54 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.045% cheaper against Bitget than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.045%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget SKLUSDT	0.004532	0.0100	pay 0.0050% / 4h	1h 43m	$486K	$799K	25x
Short	Bybit SKLUSDT	0.004532	0.0100	get 0.0100% / 8h	1h 43m	$856K	$978K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Bitget. 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 BitgetbpFee BybitbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → +0.045%: −$4.5
Slippage, 4 orders: −$192.51
Fee Bitget: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$220.02
Costs to cover: 2.155%
Break-even: never at this rate

Slippage from Bitget: live order book, 33 min ago; Bybit: live order book, 42 min ago.

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 Bitget live order book, 33 min ago	3.30 bp	40.3 bp −$40	138.0 bp −$1,380	doesn't fit	doesn't fit
Sell Bybit live order book, 42 min ago	5.52 bp	64.3 bp −$64	263.1 bp −$2,631	doesn't fit	doesn't fit

SKL on 10 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
Binance SKLUSDT	+0.0100%	4h	0.004530	−0.044%	$2.6M	$8.6M	50x	as long as short
Bybit SKLUSDTshort	+0.0100%	8h	0.004532	0.000%	$856K	$978K	25x
Gate SKL_USDT	+0.0100%	4h	0.004530	−0.044%	$171K	$226K	50x	as long as short
MEXC SKL_USDT	+0.0100%	4h	0.004530	−0.044%	$357K	$190K	20x	as long as short
KuCoin SKLUSDTM	+0.0100%	4h	0.004535	+0.066%	$786K	$341K	30x	as long as short
Bitget SKLUSDTlong	+0.0100%	4h	0.004532	long leg	$486K	$799K	25x
BingX SKL-USDT	+0.0100%	4h	0.004531	−0.022%	—	$2.3M	—	as long as short
Variational Omni SKL	+0.0100%	8h	0.004527	−0.117%	$792	$1K	—	as long as short
BloFin SKL-USDT	+0.0156%	4h	0.004531	−0.022%	$169K	$22K	50x	as long as short
Kraken Futures PF_SKLUSD	+0.2095%	1h	0.004544	+0.266%	$5K	$5K	10x	as long as short