Funding arb · Price arb /

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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: Bitget against Bybit+0.179%7-day average +0.060% · you sell dearer than you buy

Net, funding: paid 7d − costs−$109as in the Funding arb table

Net, price: spread back to 7d avg − costs−$105as in the Price arb table

costs, in and out, $10k−$1171.171% of the position

Long on Bybit Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.077%+$8 on $10k

Price spread, last 7 days+0.049%+$5 · spread now +0.179%, 7d avg +0.060%

Together, before fees+0.125%+$13 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 0.119% dearer against Bybit than usual: you sell high and buy low, +$12 on $10k if it goes back to its 7-day average of +0.060%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit WUSDT	0.01172	0.0100	pay 0.0050% / 4h	2h 40m	$4.1M	$2.1M	50x
Short	Bitget WUSDT	0.01174	0.0100	get 0.0050% / 4h	2h 40m	$1.3M	$563K	50x

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 +0.179%Rate

Funding earned: $0
Price spread: +0.179% → +0.060%: $11.94
Slippage, 4 orders: −$94.09
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$105.15
Costs to cover: 1.171%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; Bitget: live order book, just now.

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	1.71 bp	30.4 bp −$30	186.5 bp −$1,865	doesn't fit	doesn't fit
Sell Bitget live order book, just now	4.26 bp	25.1 bp −$25	81.5 bp −$815	doesn't fit	doesn't fit

W on 17 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
Deribit W_USDC-PERPETUAL	−0.1111%	1h	0.01174	+0.145%	$17K	$1K	10x	as long as short
OKX W-USDT-SWAP	+0.0002%	4h	0.01172	+0.026%	$1.3M	$2.2M	20x	as long as short
Injective W/USDC PERP	+0.0033%	1h	0.01209	+3.166%	$1K	$1K	12x	as long as short
Hyperliquid W	+0.0100%	1h	0.01174	+0.179%	$2.0M	$467K	5x	as long as short
Binance WUSDT	+0.0100%	4h	0.01173	+0.102%	$2.9M	$7.7M	50x	as long as short
Bybit WUSDTlong	+0.0100%	4h	0.01172	long leg	$4.1M	$2.1M	50x
Gate W_USDT	+0.0100%	4h	0.01171	−0.085%	$443K	$301K	75x	as long as short
MEXC W_USDT	+0.0100%	4h	0.01173	+0.094%	$12.8M	$1.7M	50x	as long as short
KuCoin WUSDTM	+0.0100%	4h	0.01171	−0.077%	$420K	$219K	50x	as long as short
Bitget WUSDTshort	+0.0100%	4h	0.01174	+0.179%	$1.3M	$563K	50x

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX W-USDT	+0.0100%	4h	0.01173	+0.060%	—	$6.9M	—	as long as short
Backpack W_USDC_PERP	+0.0100%	1h	0.01175	+0.256%	$44K	$47K	15x	as long as short
Variational Omni W	+0.0100%	4h	0.01172	+0.013%	$71K	$42K	—	as long as short
GRVT W_USDT_Perp	+0.0100%	4h	0.01173	+0.094%	$123K	$409K	10x	as long as short
Extended W-USD	+0.0104%	1h	0.01173	+0.070%	$59K	$276K	5x	as long as short
Coinbase International W-PERP-INTX	+0.0296%	1h	0.01179	+0.572%	$14K	$18K	50x	as long as short
Kraken Futures PF_WUSD	+0.0619%	1h	0.01175	+0.300%	$146K	$186K	20x	as long as short