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: Bitget against Bybit−0.022%7-day average −0.047% · you buy dearer than you sell

Net, funding: paid 7d − costs−$233as in the Funding arb table

Net, price: spread back to 7d avg − costs−$180as in the Price arb table

costs, in and out, $10k−$1821.823% of the position

Long on Bybit Short on Bitget

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)+0.082%+$8 · spread now −0.022%, 7d avg −0.047%

Together, before fees−0.426%−$43 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: Bitget is 0.025% dearer against Bybit than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.047%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit SKLUSDT	0.004594	0.0100	pay 0.0100% / 8h	3h 31m	$884K	$954K	25x
Short	Bitget SKLUSDT	0.004593	0.0100	get 0.0050% / 4h	3h 31m	$483K	$814K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.022%Rate

Funding earned: $0
Price spread: −0.022% → −0.047%: $2.51
Slippage, 4 orders: −$159.27
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$179.77
Costs to cover: 1.823%
Break-even: never at this rate

Slippage from Bybit: live order book, 64 min ago; Bitget: live order book, 55 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 Bybit live order book, 64 min ago	2.17 bp	60.0 bp −$60	694.0 bp −$6,940	doesn't fit	doesn't fit
Sell Bitget live order book, 55 min ago	7.56 bp	20.6 bp −$21	94.6 bp −$946	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
BloFin SKL-USDT	+0.0041%	4h	0.004591	−0.065%	$183K	$27K	50x	as long as short
Binance SKLUSDT	+0.0100%	4h	0.004590	−0.083%	$2.8M	$8.4M	50x	as long as short
Bybit SKLUSDTlong	+0.0100%	8h	0.004594	long leg	$884K	$954K	25x
Gate SKL_USDT	+0.0100%	4h	0.004580	−0.305%	$183K	$218K	50x	as long as short
MEXC SKL_USDT	+0.0100%	4h	0.004597	+0.065%	$392K	$190K	20x	as long as short
KuCoin SKLUSDTM	+0.0100%	4h	0.004589	−0.109%	$820K	$341K	30x	as long as short
Bitget SKLUSDTshort	+0.0100%	4h	0.004593	−0.022%	$483K	$814K	25x
BingX SKL-USDT	+0.0100%	4h	0.004587	−0.152%	—	$2.3M	—	as long as short
Variational Omni SKL	+0.0100%	8h	0.004593	−0.028%	$705	$1K	—	as long as short
Kraken Futures PF_SKLUSD	+0.2102%	1h	0.004595	+0.017%	$5K	$5K	10x	as long as short