Funding arb · Price arb /

AMZN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0476%/8h= −52.1% APRpaid last 24h −0.064%

Price spread now: Deribit against Bybit−0.108%7-day average −0.069% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$390.395% of the position

Long on Bybit Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.011%−$1 on $10k

Price spread, last 4 days (all we have)+0.241%+$24 · spread now −0.108%, 7d avg −0.069%

Together, before fees+0.231%+$23 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$14 a day on $10k at the current rate, and Deribit is 0.039% cheaper against Bybit than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.069%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 5 days it paid -0.011% in total (about -0.8% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit AMZNUSDT	260.05	0.0476	pay 0.0476% / 8h	7h 29m	$4.1M	$3.4M	100x
Short	Deribit AMZN_USDC-PERPETUAL	259.77	0	get 0.0000% / 1h	29m 11s	$29K	$173K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.108%Rate

Funding earned: −$99.9
Price spread: −0.108% → −0.069%: −$3.88
Slippage, 4 orders: −$21.47
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$143.25
Costs to cover: 0.395%
Break-even: never at this rate

Slippage from Bybit: live order book, 3 min ago; Deribit: 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 Bybit live order book, 3 min ago	2.50 bp	12.2 bp −$12	18.8 bp −$188	doesn't fit	doesn't fit
Sell Deribit live order book, 4 min ago	0.19 bp	3.7 bp −$4	4.3 bp −$43	doesn't fit	doesn't fit

AMZN on 30 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
Aster AMZNUSDT	0.0000%	8h	260.02	−0.010%	$204K	$209K	20x	as long as short
OKX AMZN-USDT-SWAP	0.0000%	8h	259.94	−0.042%	$2.8M	$4.8M	20x	as long as short
Gate AMZN_USDT	0.0000%	8h	259.75	−0.115%	$766K	$2.6M	100x	as long as short
Bitget AMZNUSDT	0.0000%	8h	260.02	−0.012%	$4.9M	$4.1M	100x	as long as short
GRVT AMZN_USDT_Perp	0.0000%	8h	260.06	+0.004%	$10K	$1.8M	10x	as long as short
Deribit AMZN_USDC-PERPETUALshort	0.0000%	1h	259.77	−0.108%	$29K	$173K	10x
Variational Omni AMZN	+0.0005%	8h	260.03	−0.008%	$1.8M	$1.1M	—	as long as short
Binance AMZNUSDT	+0.0029%	8h	259.95	−0.038%	$16.2M	$30.0M	20x	as long as short
Lighter RH AMZN	+0.0032%	1h	259.92	−0.050%	$718K	$1.6M	10x	as long as short
Extended AMZN_24_5-USD	+0.0032%	1h	259.90	−0.056%	$501K	$3.0M	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus AMZN-USD	+0.0040%	1h	259.79	−0.100%	$197K	$233K	10x	as long as short
Vest AMZN-USD-PERP	+0.0046%	1h	259.85	−0.077%	—	$104K	25x	as long as short
tradeXYZ xyz:AMZN	+0.0050%	1h	259.80	−0.096%	$29.9M	$11.3M	20x	as long as short
Polymarket Perps AMZN-USD	+0.0050%	1h	259.76	−0.112%	$321K	$282K	10x	as long as short
SoDEX AMZN-USD	+0.0050%	1h	259.86	−0.073%	$693	$5K	10x	as long as short
Ondo Perps AMZN-USD.P	+0.0050%	1h	259.68	−0.142%	$1.3M	$1.1M	10x	as long as short
QFEX AMZN-USD	+0.0052%	1h	259.96	−0.035%	$1.4M	$3.5M	10x	as long as short
Coinbase International AMZN-PERP-INTX	+0.0088%	1h	259.74	−0.119%	$916K	$2.3M	10x	as long as short
KuCoin AMZNUSDTM	+0.0100%	8h	259.81	−0.092%	$1.5M	$417K	20x	as long as short
ApeX Omni AMZNUSDT	+0.0100%	1h	259.86	−0.073%	$93K	$130K	50x	as long as short
Orderly PERP_AMZN_USDC_mythos	+0.0100%	8h	259.95	−0.038%	$1K	$331	10x	as long as short
Aevo AMZN-PERP	+0.0104%	1h	259.93	−0.048%	$14K	$510	10x	as long as short
BloFin AMZN-USDT	+0.0115%	8h	259.95	−0.038%	$179K	$304K	20x	as long as short
Nado AMZN-PERP	+0.0146%	1h	259.83	−0.086%	$414K	$114K	20x	as long as short
Hotstuff AMZN-PERP	+0.0152%	1h	259.85	−0.077%	$33K	—	20x	as long as short
Lighter AMZN	+0.0176%	1h	259.91	−0.055%	$740K	$1.3M	20x	as long as short
Injective AMZN/USDC PERP	+0.0220%	1h	260.10	+0.019%	$75K	$27K	30x	as long as short
Phoenix AMZN	+0.0246%	1h	260.02	−0.012%	$5K	$78K	20x	as long as short
edgeX AMZNUSDC	+0.0373%	4h	260.01	−0.017%	$28K	$250K	10x	as long as short
Bybit AMZNUSDTlong	+0.0476%	8h	260.05	long leg	$4.1M	$3.4M	100x