Funding arb · Price arb /

SQD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bybit against Bitget−0.174%7-day average −0.100% · you buy dearer than you sell

Net, funding: paid 7d − costs−$189as in the Funding arb table

Net, price: spread back to 7d avg − costs−$197as in the Price arb table

costs, in and out, $10k−$1891.893% of the position

Long on Bitget 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)+0.138%+$14 · spread now −0.174%, 7d avg −0.100%

Together, before fees+0.138%+$14 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 0.074% cheaper against Bitget than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of −0.100%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget SQDUSDT	0.02873	0.0100	pay 0.0050% / 4h	1h 45m	$735K	$59K	25x
Short	Bybit SQDUSDT	0.02868	0.0100	get 0.0050% / 4h	1h 45m	$887K	$382K	20x

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 −0.174%Rate

Funding earned: $0
Price spread: −0.174% → −0.100%: −$7.44
Slippage, 4 orders: −$166.28
Fee Bitget: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$196.72
Costs to cover: 1.893%
Break-even: never at this rate

Slippage from Bitget: live order book, 15 min ago; Bybit: live order book, 15 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, 15 min ago	10.41 bp	44.4 bp −$44	330.5 bp −$3,305	doesn't fit	doesn't fit
Sell Bybit live order book, 15 min ago	6.95 bp	57.3 bp −$57	271.7 bp −$2,717	doesn't fit	doesn't fit

SQD 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 SQD-USDT	+0.0066%	4h	0.02882	+0.313%	—	$41K	50x	as long as short
Aster SQDUSDT	+0.0100%	4h	0.02870	−0.096%	$15K	$1K	5x	as long as short
Binance SQDUSDT	+0.0100%	4h	0.02877	+0.143%	$1.2M	$1.3M	50x	as long as short
Bybit SQDUSDTshort	+0.0100%	4h	0.02868	−0.174%	$887K	$382K	20x
Gate SQD_USDT	+0.0100%	4h	0.02869	−0.139%	$605K	$31K	20x	as long as short
MEXC SQD_USDT	+0.0100%	4h	0.02879	+0.209%	$5.8M	$180K	50x	as long as short
KuCoin SQDUSDTM	+0.0100%	4h	0.02869	−0.139%	$397K	$1.3M	50x	as long as short
Bitget SQDUSDTlong	+0.0100%	4h	0.02873	long leg	$735K	$59K	25x
BingX SQD-USDT	+0.0100%	4h	0.02871	−0.070%	—	$2.3M	—	as long as short
Variational Omni SQD	+0.0100%	4h	0.02863	−0.331%	$11K	$52K	—	as long as short