Funding arb · Price arb /

TOWNS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.1036%/8h= −113.4% APRpaid last 24h +0.676%

Price spread now: Coinbase International against Bybit+7.239%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Bybit Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+5.683%+$568 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Coinbase International is 7.239% dearer against Bybit than usual: you sell high and buy low (spread +7.239% now, against zero (this spread has no 7-day history yet)): +$724 on $10k if it goes back. Holding the pair costs −$31 a day in funding at the current rate, which eats that in about 23 days. Mind the row above: over the last 7 days funding on this pair paid +5.683%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit TOWNSUSDT	0.002072	0.0100	pay 0.0050% / 4h	2h 21m	$381K	$119K	5x
Short	Coinbase International TOWNS-PERP-INTX	0.002222	−0.0936	pay 0.0117% / 1h	21m 44s	$83K	$4K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Bybit. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Coinbase InternationalbpOrdersPrice spread, now +7.239%Rate

Funding earned: −$217.56
Price spread: +7.239% → 0.000%: $723.94
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $485.38
Costs to cover: 0.210%
Break-even: from the start

Slippage unknown: Bybit: live order book, 18 min ago; Coinbase International: no order-book sample. Net counts fees only.

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, 18 min ago	7.23 bp	707.2 bp −$707	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International no order-book sample	—	—	—	—	—

Coinbase International: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

TOWNS on 12 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
Coinbase International TOWNS-PERP-INTXshort	−0.0936%	1h	0.002222	+7.239%	$83K	$4K	25x
BloFin TOWNS-USDT	+0.0051%	4h	0.002072	0.000%	$131K	$4K	10x	as long as short
Aster TOWNSUSDT	+0.0100%	4h	0.002073	+0.032%	$10K	$6K	5x	as long as short
Binance TOWNSUSDT	+0.0100%	4h	0.002076	+0.217%	$2.0M	$1.3M	10x	as long as short
Bybit TOWNSUSDTlong	+0.0100%	4h	0.002072	long leg	$381K	$119K	5x
Gate TOWNS_USDT	+0.0100%	4h	0.002076	+0.193%	$69K	$15K	10x	as long as short
MEXC TOWNS_USDT	+0.0100%	4h	0.002075	+0.145%	$419K	$138K	100x	as long as short
KuCoin TOWNSUSDTM	+0.0100%	4h	0.002073	+0.048%	$247K	$31K	10x	as long as short
Bitget TOWNSUSDT	+0.0100%	4h	0.002072	0.000%	$340K	$42K	5x	as long as short
BingX TOWNS-USDT	+0.0100%	4h	0.002074	+0.097%	—	$2.3M	—	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni TOWNS	+0.0100%	4h	0.002066	−0.306%	$194	$549	—	as long as short
Deribit TOWNS_USDC-PERPETUAL	+0.2643%	1h	0.002080	+0.386%	—	—	25x	as long as short