Funding arb · Price arb /

BE

RWAall BE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.030%

Price spread now: Coinbase International against SunX−0.368%7-day average −0.308% · you buy dearer than you sell

Net, funding: paid 7d − costs−$251as in the Funding arb table

Net, price: spread back to 7d avg − costs−$279as in the Price arb table

costs, in and out, $10k−$2732.729% of the position

Long on SunX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.219%+$22 on $10k

Price spread, last 4 days (all we have)+0.173%+$17 · spread now −0.368%, 7d avg −0.308%

Together, before fees+0.392%+$39 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.060% cheaper against SunX than usual: you would sell low and buy high (spread −0.368% now, against its 7-day average of −0.308%). If the spread goes back, that is −$6 on $10k: about 6.3 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.219% in total) that is about 46 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX BE-USDT	271.59	0	get 0.0000% / 8h	40m 59s	$1K	$2.3M	10x
Short	Coinbase International BE-PERP-INTX	270.59	0.0032	get 0.0004% / 1h	40m 59s	$473K	$114K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against SunX. 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 SunXbpFee Coinbase InternationalbpOrdersPrice spread, now −0.368%Rate

Funding earned: $6.72
Price spread: −0.368% → −0.308%: −$6.05
Slippage, 4 orders: −$254.88
Fee SunX: 4 bp × 2 orders: −$8
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$272.21
Costs to cover: 2.729%
Break-even: 290.6 days

Slippage from SunX: live order book, 5 min ago; Coinbase International: live order book, 62 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 SunX live order book, 5 min ago	45.14 bp	125.2 bp −$125	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 62 min ago	3.69 bp	8.7 bp −$9	16.6 bp −$166	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
Gate BE_USDT	−0.0388%	8h	271.40	−0.070%	$1.4M	$3.3M	50x	as long as short
Bitget BEUSDT	−0.0081%	8h	271.43	−0.059%	$1.6M	$2.6M	20x	as long as short
Aster BEUSDT	0.0000%	8h	271.39	−0.073%	$343K	$128K	20x	as long as short
Extended BE-USD	0.0000%	1h	271.47	−0.045%	$46K	$381K	10x	as long as short
Binance BEUSDT	0.0000%	8h	271.67	+0.028%	$8.2M	$37.1M	25x	as long as short
OKX BE-USDT-SWAP	0.0000%	8h	271.48	−0.041%	$2.6M	$6.9M	25x	as long as short
GRVT BE_USDT_Perp	0.0000%	8h	271.32	−0.099%	$7K	$155K	10x	as long as short
SunX BE-USDTlong	0.0000%	8h	271.59	long leg	$1K	$2.3M	10x
HTX BE-USDT	0.0000%	8h	271.61	+0.007%	$12K	$35K	20x	as long as short
QFEX BE-USD	+0.0017%	1h	271.53	−0.022%	$1.3M	$2.2M	10x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter BE	+0.0032%	1h	271.25	−0.125%	—	—	10x	as long as short
Lighter RH BE	+0.0032%	1h	271.49	−0.037%	$242K	$305K	10x	as long as short
Coinbase International BE-PERP-INTXshort	+0.0032%	1h	270.59	−0.368%	$473K	$114K	10x
Arcus BE-USD	+0.0040%	1h	271.33	−0.096%	$113K	$96K	10x	as long as short
Vest BE-USD-PERP	+0.0046%	1h	271.51	−0.029%	—	—	10x	as long as short
Bybit BEUSDT	+0.0068%	8h	271.43	−0.059%	$2.0M	$1.1M	25x	as long as short
KuCoin BEUSDTM	+0.0100%	8h	271.44	−0.055%	$367K	$18K	20x	as long as short
Aevo BE-PERP	+0.0104%	1h	271.51	−0.029%	—	—	10x	as long as short
BloFin BE-USDT	+0.0120%	8h	271.59	0.000%	$45K	$145K	20x	as long as short
tradeXYZ xyz:BE	+0.0131%	1h	271.51	−0.029%	$5.9M	$2.8M	10x	as long as short
Deribit BE_USDC-PERPETUAL	+0.0487%	1h	271.47	−0.044%	$6K	$4K	10x	as long as short