Funding arb · Price arb /

SNX

all SNX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bybit against Gate+0.125%7-day average +0.011% · you sell dearer than you buy

Net, funding: paid 7d − costs−$218as in the Funding arb table

Net, price: spread back to 7d avg − costs−$207as in the Price arb table

costs, in and out, $10k−$2182.185% of the position

Long on Gate Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)−0.705%−$71 · spread now +0.125%, 7d avg +0.011%

Together, before fees−0.705%−$71 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 0.114% dearer against Gate than usual: you sell high and buy low, +$11 on $10k if it goes back to its 7-day average of +0.011%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate SNX_USDT	0.2396	0.0100	pay 0.0100% / 8h	5h 20m	$239K	$94K	25x
Short	Bybit SNXUSDT	0.2399	0.0100	get 0.0100% / 8h	5h 20m	$1.7M	$1.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Gate. 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 GatebpFee BybitbpOrdersPrice spread, now +0.125%Rate

Funding earned: $0
Price spread: +0.125% → +0.011%: $11.4
Slippage, 4 orders: −$192.48
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$207.07
Costs to cover: 2.185%
Break-even: never at this rate

Slippage from Gate: live order book, 36 min ago; Bybit: live order book, 1 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 Gate live order book, 36 min ago	4.14 bp	66.5 bp −$66	283.2 bp −$2,832	doesn't fit	doesn't fit
Sell Bybit live order book, 1 min ago	2.09 bp	31.8 bp −$32	236.7 bp −$2,367	doesn't fit	doesn't fit

SNX on 15 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
Injective SNX/USDC PERP	−0.5000%	1h	0.2253	−5.968%	$23K	$29K	12x	as long as short
Kraken Futures PF_SNXUSD	+0.0081%	1h	0.2400	+0.153%	$144K	$59K	25x	as long as short
Hyperliquid SNX	+0.0100%	1h	0.2401	+0.196%	$442K	$152K	3x	as long as short
Aster SNXUSDT	+0.0100%	8h	0.2401	+0.217%	$4K	$3K	5x	as long as short
Binance SNXUSDT	+0.0100%	8h	0.2398	+0.083%	$2.9M	$4.0M	75x	as long as short
Bybit SNXUSDTshort	+0.0100%	8h	0.2399	+0.125%	$1.7M	$1.3M	75x
OKX SNX-USDT-SWAP	+0.0100%	8h	0.2398	+0.083%	$818K	$1.2M	20x	as long as short
Gate SNX_USDTlong	+0.0100%	8h	0.2396	long leg	$239K	$94K	25x
MEXC SNX_USDT	+0.0100%	8h	0.2399	+0.125%	$1.7M	$698K	100x	as long as short
KuCoin SNXUSDTM	+0.0100%	8h	0.2399	+0.125%	$723K	$2.0M	30x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget SNXUSDT	+0.0100%	8h	0.2397	+0.042%	$1.1M	$390K	50x	as long as short
BingX SNX-USDT	+0.0100%	8h	0.2399	+0.125%	—	$2.3M	—	as long as short
Variational Omni SNX	+0.0100%	8h	0.2399	+0.128%	$12K	$4K	—	as long as short
SunX SNX-USDT	+0.0100%	8h	0.2391	−0.209%	$2K	$1.4M	20x	as long as short
BloFin SNX-USDT	+0.0114%	8h	0.2398	+0.083%	$152K	$69K	75x	as long as short