Funding arb · Price arb /

SQD

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Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: Binance against Bybit+0.382%7-day average +0.234% · you sell dearer than you buy

Net, funding: paid 7d − costs−$180as in the Funding arb table

Net, price: spread back to 7d avg − costs−$166as in the Price arb table

costs, in and out, $10k−$1801.803% of the position

Long on Bybit Short on Binance

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)−0.180%−$18 · spread now +0.382%, 7d avg +0.234%

Together, before fees−0.180%−$18 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: Binance is 0.148% dearer against Bybit than usual: you sell high and buy low, +$15 on $10k if it goes back to its 7-day average of +0.234%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit SQDUSDT	0.02879	0.0100	pay 0.0050% / 4h	8m 22s	$897K	$512K	20x
Short	Binance SQDUSDT	0.02890	0.0100	get 0.0050% / 4h	8m 22s	$1.2M	$1.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.382%Rate

Funding earned: $0
Price spread: +0.382% → +0.234%: $14.77
Slippage, 4 orders: −$159.3
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Binance: 5 bp × 2 orders: −$10
Net: −$165.53
Costs to cover: 1.803%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; Binance: live order book, 9 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, 2 min ago	10.42 bp	52.7 bp −$53	845.5 bp −$8,455	doesn't fit	doesn't fit
Sell Binance live order book, 9 min ago	1.74 bp	32.9 bp −$33	126.9 bp −$1,269	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
Aster SQDUSDT	+0.0100%	4h	0.02882	+0.098%	$15K	$1K	5x	as long as short
Binance SQDUSDTshort	+0.0100%	4h	0.02890	+0.382%	$1.2M	$1.3M	50x
Bybit SQDUSDTlong	+0.0100%	4h	0.02879	long leg	$897K	$512K	20x
Gate SQD_USDT	+0.0100%	4h	0.02881	+0.069%	$607K	$45K	20x	as long as short
MEXC SQD_USDT	+0.0100%	4h	0.02891	+0.417%	$5.9M	$175K	50x	as long as short
KuCoin SQDUSDTM	+0.0100%	4h	0.02890	+0.382%	$402K	$1.3M	50x	as long as short
Bitget SQDUSDT	+0.0100%	4h	0.02882	+0.104%	$738K	$80K	25x	as long as short
BingX SQD-USDT	+0.0100%	4h	0.02886	+0.243%	—	$2.3M	—	as long as short
Variational Omni SQD	+0.0100%	4h	0.02874	−0.171%	$11K	$52K	—	as long as short
BloFin SQD-USDT	+0.0108%	4h	0.02888	+0.313%	$81K	$41K	50x	as long as short