Funding arb · Price arb /

BE

RWAall BE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.029%

Price spread now: Bybit against Coinbase International+0.314%7-day average +0.283% · you sell dearer than you buy

Net, funding: paid 7d − costs−$115as in the Funding arb table

Net, price: spread back to 7d avg − costs−$93as in the Price arb table

costs, in and out, $10k−$960.964% of the position

Long on Coinbase International Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.182%−$18 on $10k

Price spread, last 4 days (all we have)−0.265%−$26 · spread now +0.314%, 7d avg +0.283%

Together, before fees−0.446%−$45 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.031% dearer against Coinbase International than usual: you sell high and buy low (spread +0.314% now, against its 7-day average of +0.283%): +$3 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 2.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International BE-PERP-INTX	270.59	0.0056	pay 0.0007% / 1h	22m 38s	$473K	$134K	10x
Short	Bybit BEUSDT	271.44	0.0006	get 0.0006% / 8h	2h 22m	$2.0M	$1.1M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Coinbase International. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Coinbase InternationalbpFee BybitbpOrdersPrice spread, now +0.314%Rate

Funding earned: −$10.55
Price spread: +0.314% → +0.283%: $3.06
Slippage, 4 orders: −$75.38
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$103.86
Costs to cover: 0.964%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 25 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 Coinbase International live order book, 25 min ago	7.53 bp	13.9 bp −$14	22.0 bp −$220	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	3.32 bp	50.7 bp −$51	165.7 bp −$1,657	doesn't fit	doesn't fit

BE on 21 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
Bitget BEUSDT	−0.0133%	8h	271.38	+0.292%	$1.6M	$2.6M	20x	as long as short
Aster BEUSDT	0.0000%	8h	271.58	+0.367%	$341K	$121K	20x	as long as short
Extended BE-USD	0.0000%	1h	271.20	+0.224%	$46K	$258K	10x	as long as short
Binance BEUSDT	0.0000%	8h	271.38	+0.292%	$8.2M	$37.2M	25x	as long as short
OKX BE-USDT-SWAP	0.0000%	8h	271.28	+0.255%	$2.6M	$6.9M	25x	as long as short
Gate BE_USDT	0.0000%	8h	271.30	+0.262%	$1.4M	$3.3M	50x	as long as short
GRVT BE_USDT_Perp	0.0000%	8h	271.00	+0.150%	$6K	$158K	10x	as long as short
SunX BE-USDT	0.0000%	8h	270.96	+0.137%	$1K	$2.3M	10x	as long as short
HTX BE-USDT	0.0000%	8h	270.88	+0.107%	$12K	$35K	20x	as long as short
Bybit BEUSDTshort	+0.0006%	8h	271.44	+0.314%	$2.0M	$1.1M	25x

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX BE-USD	+0.0024%	1h	271.31	+0.266%	$1.3M	$2.5M	10x	as long as short
Lighter BE	+0.0032%	1h	271.19	+0.222%	—	—	10x	as long as short
Lighter RH BE	+0.0032%	1h	271.20	+0.225%	$242K	$299K	10x	as long as short
Arcus BE-USD	+0.0040%	1h	270.79	+0.074%	$113K	$109K	10x	as long as short
Vest BE-USD-PERP	+0.0046%	1h	270.97	+0.140%	—	—	10x	as long as short
tradeXYZ xyz:BE	+0.0050%	1h	271.23	+0.237%	$5.9M	$2.7M	10x	as long as short
Coinbase International BE-PERP-INTXlong	+0.0056%	1h	270.59	long leg	$473K	$134K	10x
KuCoin BEUSDTM	+0.0100%	8h	271.16	+0.211%	$366K	$18K	20x	as long as short
Aevo BE-PERP	+0.0104%	1h	270.97	+0.140%	—	—	10x	as long as short
BloFin BE-USDT	+0.0120%	8h	271.11	+0.192%	$45K	$145K	20x	as long as short
Deribit BE_USDC-PERPETUAL	+0.0304%	1h	271.13	+0.200%	$6K	$4K	10x	as long as short