Funding arb · Price arb /

WAL

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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 −0.063%

Price spread now: Bybit against Bitget−0.057%7-day average −0.005% · you buy dearer than you sell

Net, funding: paid 7d − costs−$172as in the Funding arb table

Net, price: spread back to 7d avg − costs−$166as in the Price arb table

costs, in and out, $10k−$1601.603% of the position

Long on Bitget Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.116%−$12 on $10k

Price spread, last 4 days (all we have)+0.057%+$6 · spread now −0.057%, 7d avg −0.005%

Together, before fees−0.059%−$6 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 0.052% cheaper against Bitget than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.005%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget WALUSDT	0.03513	0.0100	pay 0.0050% / 4h	57m 18s	$607K	$926K	20x
Short	Bybit WALUSDT	0.03511	0.0100	get 0.0050% / 4h	57m 18s	$1.4M	$1.7M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Bitget. 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 BitgetbpFee BybitbpOrdersPrice spread, now −0.057%Rate

Funding earned: $0
Price spread: −0.057% → −0.005%: −$5.22
Slippage, 4 orders: −$137.31
Fee Bitget: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$165.53
Costs to cover: 1.603%
Break-even: never at this rate

Slippage from Bitget: live order book, 63 min ago; Bybit: live order book, 4 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 Bitget live order book, 63 min ago	2.89 bp	27.9 bp −$28	173.6 bp −$1,736	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	5.71 bp	54.2 bp −$54	400.1 bp −$4,001	doesn't fit	doesn't fit

WAL 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
Bluefin WAL-PERP	−0.3958%	1h	0.03508	−0.142%	$32K	$798K	20x	as long as short
Binance WALUSDT	+0.0100%	4h	0.03504	−0.252%	$2.4M	$6.8M	75x	as long as short
Bybit WALUSDTshort	+0.0100%	4h	0.03511	−0.057%	$1.4M	$1.7M	25x
OKX WAL-USDT-SWAP	+0.0100%	4h	0.03508	−0.142%	$216K	$1.0M	10x	as long as short
Gate WAL_USDT	+0.0100%	4h	0.03496	−0.484%	$295K	$523K	50x	as long as short
MEXC WAL_USDT	+0.0100%	4h	0.03510	−0.085%	$622K	$292K	20x	as long as short
KuCoin WALUSDTM	+0.0100%	4h	0.03506	−0.199%	$345K	$66K	30x	as long as short
Bitget WALUSDTlong	+0.0100%	4h	0.03513	long leg	$607K	$926K	20x
BingX WAL-USDT	+0.0100%	4h	0.03505	−0.228%	—	$6.6M	—	as long as short
Variational Omni WAL	+0.0100%	4h	0.03503	−0.277%	$23K	$9K	—	as long as short