Funding arb · Price arb /

STABLE

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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: Bybit against Binance+0.040%7-day average +0.117% · you sell dearer than you buy

Net, funding: paid 7d − costs−$140as in the Funding arb table

Net, price: spread back to 7d avg − costs−$122as in the Price arb table

costs, in and out, $10k−$1141.140% of the position

Long on Binance Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.258%−$26 on $10k

Price spread, last 7 days+0.031%+$3 · spread now +0.040%, 7d avg +0.117%

Together, before fees−0.227%−$23 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 0.077% cheaper against Binance than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of +0.117%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance STABLEUSDT	0.02486	0.0100	pay 0.0050% / 4h	3h 29m	$2.4M	$2.7M	75x
Short	Bybit STABLEUSDT	0.02487	0.0100	get 0.0050% / 4h	3h 29m	$1.5M	$816K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Binance. 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 BinancebpFee BybitbpOrdersPrice spread, now +0.040%Rate

Funding earned: $0
Price spread: +0.040% → +0.117%: −$7.7
Slippage, 4 orders: −$92.98
Fee Binance: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$121.68
Costs to cover: 1.140%
Break-even: never at this rate

Slippage from Binance: live order book, 12 min ago; Bybit: live order book, 2 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 Binance live order book, 12 min ago	4.04 bp	24.3 bp −$24	105.0 bp −$1,050	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	4.02 bp	33.8 bp −$34	272.7 bp −$2,727	doesn't fit	doesn't fit

STABLE 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
Aster STABLEUSDT	−0.0047%	4h	0.02485	−0.040%	$19K	$7K	20x	as long as short
BloFin STABLE-USDT	+0.0082%	4h	0.02489	+0.121%	$115K	$8K	75x	as long as short
Lighter STABLE	+0.0096%	1h	0.02498	+0.467%	$115K	$3K	3x	as long as short
Hyperliquid STABLE	+0.0100%	1h	0.02486	+0.004%	$878K	$236K	3x	as long as short
Binance STABLEUSDTlong	+0.0100%	4h	0.02486	long leg	$2.4M	$2.7M	75x
Bybit STABLEUSDTshort	+0.0100%	4h	0.02487	+0.040%	$1.5M	$816K	25x
OKX STABLE-USDT-SWAP	+0.0100%	4h	0.02488	+0.080%	$205K	$421K	20x	as long as short
Gate STABLE_USDT	+0.0100%	4h	0.02486	0.000%	$172K	$88K	50x	as long as short
MEXC STABLE_USDT	+0.0100%	4h	0.02484	−0.080%	$663K	$150K	20x	as long as short
KuCoin STABLEUSDTM	+0.0100%	4h	0.02489	+0.121%	$175K	$27K	30x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget STABLEUSDT	+0.0100%	4h	0.02486	0.000%	$291K	$122K	25x	as long as short
BingX STABLE-USDT	+0.0100%	4h	0.02485	−0.040%	—	$6.6M	—	as long as short
Variational Omni STABLE	+0.0100%	4h	0.02489	+0.139%	$146K	$51K	—	as long as short
SunX STABLE-USDT	+0.0100%	4h	0.02488	+0.068%	$2K	$636K	20x	as long as short
Extended STABLE-USD	+0.0104%	1h	0.02486	−0.015%	$12K	$175K	10x	as long as short