Funding arb · Price arb /

XAI

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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 0.000%

Price spread now: Bybit against Binance−0.038%7-day average +0.029% · you buy dearer than you sell

Net, funding: paid 7d − costs−$200as in the Funding arb table

Net, price: spread back to 7d avg − costs−$197as in the Price arb table

costs, in and out, $10k−$1901.899% of the position

Long on Binance Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.104%−$10 on $10k

Price spread, last 4 days (all we have)+0.009%+$1 · spread now −0.038%, 7d avg +0.029%

Together, before fees−0.095%−$9 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 0.067% cheaper against Binance than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of +0.029%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance XAIUSDT	0.007986	0.0100	pay 0.0050% / 4h	1h 42m	$1.6M	$2.1M	25x
Short	Bybit XAIUSDT	0.007983	0.0100	get 0.0050% / 4h	1h 42m	$656K	$420K	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 −0.038%Rate

Funding earned: $0
Price spread: −0.038% → +0.029%: −$6.66
Slippage, 4 orders: −$168.91
Fee Binance: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$196.58
Costs to cover: 1.899%
Break-even: never at this rate

Slippage from Binance: live order book, 7 min ago; Bybit: live order book, 13 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, 7 min ago	3.77 bp	27.5 bp −$27	107.6 bp −$1,076	doesn't fit	doesn't fit
Sell Bybit live order book, 13 min ago	4.39 bp	65.8 bp −$66	299.9 bp −$2,999	doesn't fit	doesn't fit

XAI 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
BloFin XAI-USDT	+0.0086%	4h	0.007970	−0.200%	$161K	$20K	25x	as long as short
Hyperliquid XAI	+0.0100%	1h	0.007990	+0.050%	$409K	$67K	3x	as long as short
Aster XAIUSDT	+0.0100%	4h	0.007978	−0.102%	$5K	$19K	5x	as long as short
Binance XAIUSDTlong	+0.0100%	4h	0.007986	long leg	$1.6M	$2.1M	25x
Bybit XAIUSDTshort	+0.0100%	4h	0.007983	−0.038%	$656K	$420K	25x
Gate XAI_USDT	+0.0100%	4h	0.007979	−0.088%	$81K	$45K	50x	as long as short
MEXC XAI_USDT	+0.0100%	4h	0.007986	0.000%	$2.0M	$441K	50x	as long as short
KuCoin XAIUSDTM	+0.0100%	4h	0.007980	−0.075%	$178K	$46K	25x	as long as short
Bitget XAIUSDT	+0.0100%	4h	0.007980	−0.075%	$444K	$262K	25x	as long as short
BingX XAI-USDT	+0.0100%	4h	0.007983	−0.038%	—	$2.3M	—	as long as short