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: Bitget against Bybit+0.244%7-day average +0.102% · you sell dearer than you buy

Net, funding: paid 7d − costs−$183as in the Funding arb table

Net, price: spread back to 7d avg − costs−$169as in the Price arb table

costs, in and out, $10k−$1831.833% of the position

Long on Bybit Short on Bitget

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)−0.152%−$15 · spread now +0.244%, 7d avg +0.102%

Together, before fees−0.152%−$15 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 0.142% dearer against Bybit than usual: you sell high and buy low, +$14 on $10k if it goes back to its 7-day average of +0.102%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit SQDUSDT	0.02870	0.0100	pay 0.0050% / 4h	3h 19m	$892K	$424K	20x
Short	Bitget SQDUSDT	0.02877	0.0100	get 0.0050% / 4h	3h 19m	$736K	$69K	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 +0.244%Rate

Funding earned: $0
Price spread: +0.244% → +0.102%: $14.23
Slippage, 4 orders: −$160.29
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$169.06
Costs to cover: 1.833%
Break-even: never at this rate

Slippage from Bybit: live order book, 50 min ago; Bitget: live order book, 51 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, 50 min ago	10.42 bp	52.7 bp −$53	845.5 bp −$8,455	doesn't fit	doesn't fit
Sell Bitget live order book, 51 min ago	13.86 bp	43.2 bp −$43	139.6 bp −$1,396	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	0.02870	−0.002%	$15K	$1K	5x	as long as short
Binance SQDUSDT	+0.0100%	4h	0.02880	+0.348%	$1.2M	$1.3M	50x	as long as short
Bybit SQDUSDTlong	+0.0100%	4h	0.02870	long leg	$892K	$424K	20x
Gate SQD_USDT	+0.0100%	4h	0.02868	−0.070%	$605K	$42K	20x	as long as short
MEXC SQD_USDT	+0.0100%	4h	0.02880	+0.348%	$5.9M	$175K	50x	as long as short
KuCoin SQDUSDTM	+0.0100%	4h	0.02874	+0.139%	$400K	$1.3M	50x	as long as short
Bitget SQDUSDTshort	+0.0100%	4h	0.02877	+0.244%	$736K	$69K	25x
BingX SQD-USDT	+0.0100%	4h	0.02875	+0.174%	—	$2.3M	—	as long as short
Variational Omni SQD	+0.0100%	4h	0.02871	+0.036%	$11K	$52K	—	as long as short
BloFin SQD-USDT	+0.0124%	4h	0.02888	+0.627%	$81K	$41K	50x	as long as short