Settings8H · net · $10k
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Funding arb · Price arb / Crypto

VIRTUAL

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LegExchangePriceFund. /8hEach paymentNext inOIVol 24hLev
LONG
Bybit SpotVIRTUALUSDT
0.5571spotno funding——$1.4M1xBuy Bybit Spot
SHORT
BybitVIRTUALUSDT
0.5567−0.0475pay 0.0237% / 4h3h 48m$8.8M$7.2M50xShort Bybit
Price gap−0.072%
Funding gap−0.0475% /8h

Both sides work against this pair now: funding costs $14 a day on $10k and the gap is 0.029% under its 7d average. Spot cannot be shorted here, so there is no reverse.

If you open now and hold

on $10k a leg · figures of the last 7D, not a forecast
Funding+$5−0.0475% /8h now · paid +0.051% over the last 7D
Price−$3spread −0.072% now, avg −0.043% → −0.029% if it goes back
Costs−$690.691% of $10k · taker + slippage, in and out
Result−$67−0.67%no points

The current funding rate is far below what this pair has been paying: over the last 7 days it paid +0.051% in total, about +0.0024%/8h on average.

Price and funding

1h · history
PRICE SPREAD · 7D
Now−0.072%
Average—
Range—
Wider than now—
FUNDING SPREAD · 7D
Average /8h—
Highest—
Lowest—
Paid you—

Where the spread has been, last 7D

share of time at each level

Funding on every exchange

/8h

VIRTUAL on 33 exchanges

lowest funding first

Before you open

1 ok · 3 to watch
  • Watch: Thin at this size23.9 / 12.4 bp
    At $10k entering Bybit Spot costs 23.9 bp, fee and slippage, 1.9× Bybit’s.
  • Note: Spot in full, margin on the short$10,000 + $200
    The spot leg is bought with the whole $10k; Bybit runs at up to 50x. Only the short can be liquidated, when the price rises, while the spot leg's gain is not yet realised: keep about 2× the margin on Bybit.
  • OK: Only the short pays funding— / 4h
    The spot leg pays no funding; Bybit settles every 4h.
    Next 24h at the current rates, on $10k a leg: −$14.25Long Bybit Spot: 0 payments, $0.00; short Bybit: 6 payments, −$14.25.
  • Watch: Gap narrower than usual−0.072% vs −0.043%
    Less room for the price leg to pay you. If it goes back to average, the short loses.
  • Note: Spot has no open interest$8.8M OI
    Only Bybit reports one; the spot book's depth is in the cost check above.
  • Note: No points program—
    Neither exchange runs points right now.
  • Watch: KYCBybit Spot Yes · Bybit Yes
    Standard verification is mandatory for every product.

Profit calculator

both legs, in and out
Position, each leg
Hold for
Orders
Price spread
Funding rate
Funding earned+0.0024%/8h × 21 periods+$5.12
Price spread−0.072% → −0.043% (7d avg)−$2.86
Slippage, 4 orderslive order books−$38.14
Fee Bybit Spot bp × 2 orders−$20.00
Fee Bybit bp × 2 orders−$11.00
Net · 7 days · $10k−$66.88
Costs to cover0.691%Break-even98.4 days
Slippage: Bybit Spot: live order book, 12 min ago; Bybit: live order book, 3 min ago

Cost to enter

taker + slippage from mid, one side
BUY · LONGBybit Spot1.8023.9 bp−$24doesn’t fitdoesn’t fitdoesn’t fit
SELL · SHORTBybit0.9012.4 bp−$1228.0 bp−$280doesn’t fitdoesn’t fit

Closing costs about the same again.

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