Funding arb · Price arb /

BX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0423%/8h= +46.3% APRpaid last 24h +0.039%

Price spread now: tradeXYZ against Bybit−0.205%7-day average −0.076% · you buy dearer than you sell

Net, funding: paid 7d − costs−$217as in the Funding arb table

Net, price: spread back to 7d avg − costs−$243as in the Price arb table

costs, in and out, $10k−$2302.303% of the position

Long on Bybit Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.133%+$13 on $10k

Price spread, last 4 days (all we have)+0.133%+$13 · spread now −0.205%, 7d avg −0.076%

Together, before fees+0.266%+ Points / potential airdroptradeXYZ: Active · farm board+$27 on $10k · with fees, hour by hour

Funding pays, the price is against you. tradeXYZ is 0.129% cheaper against Bybit than usual: you would sell low and buy high (spread −0.205% now, against its 7-day average of −0.076%). If the spread goes back, that is −$13 on $10k: about 24 hours of funding at the current rate (+$13 a day). At the pace of the last 7 days (+0.133% in total) that is about 6.8 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.133% in total (about 6.9% 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 BXUSDT	126.62	0	get 0.0000% / 8h	40m 18s	$496K	$859K	25x
Short	tradeXYZ xyz:BX	126.36	0.0423	get 0.0053% / 1h	40m 18s	$663K	$181K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.205%Rate

Funding earned: $88.88
Price spread: −0.205% → −0.076%: −$12.95
Slippage, 4 orders: −$201.31
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$154.38
Costs to cover: 2.303%
Break-even: 19.2 days

Slippage from Bybit: live order book, 35 min ago; tradeXYZ: live order book, 26 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, 35 min ago	4.74 bp	103.1 bp −$103	214.8 bp −$2,148	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 26 min ago	3.56 bp	23.8 bp −$24	doesn't fit	doesn't fit	doesn't fit

BX on 14 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 BXUSDT	0.0000%	8h	126.27	−0.277%	$5K	$2K	20x	as long as short
Bybit BXUSDTlong	0.0000%	8h	126.62	long leg	$496K	$859K	25x
QFEX BX-USD	0.0000%	1h	131.04	+3.491%	$1.1M	$1.3M	10x	as long as short
Gate BX_USDT	0.0000%	8h	126.75	+0.103%	$426K	$20K	20x	as long as short
Bitget BXUSDT	0.0000%	8h	126.72	+0.079%	$904K	$44K	20x	as long as short
SunX BX-USDT	0.0000%	8h	126.51	−0.087%	$702	$303K	10x	as long as short
HTX BX-USDT	0.0000%	8h	126.64	+0.016%	$7K	$3K	20x	as long as short
Injective BX/USDC PERP	+0.0220%	1h	138.57	+9.438%	$4K	$32K	12x	as long as short
OKX BX-USDT-SWAP	+0.0261%	8h	126.46	−0.126%	$163K	$109K	20x	as long as short
tradeXYZ xyz:BXshort	+0.0423%	1h	126.36	−0.205%	$663K	$181K	10x

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin BXUSDTM	+0.1063%	8h	126.47	−0.118%	$112K	$1.1M	20x	as long as short
Variational Omni BX	+0.1101%	8h	126.53	−0.072%	$31K	$127	—	as long as short
Binance BXUSDT	+0.1437%	8h	126.51	−0.089%	$802K	$459K	20x	as long as short
GRVT BX_USDT_Perp	+0.2200%	8h	126.62	−0.003%	$612	$122K	10x	as long as short