Funding arb · Price arb /

BYD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0091%/8h= −10.0% APRpaid last 24h 0.000%

Price spread now: SunX against Gate−0.520%7-day average −0.294% · you buy dearer than you sell

Net, funding: paid 7d − costs−$564as in the Funding arb table

Net, price: spread back to 7d avg − costs−$575as in the Price arb table

costs, in and out, $10k−$5525.521% of the position

Long on Gate Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.124%−$12 on $10k

Price spread, last 4 days (all we have)+0.354%+$35 · spread now −0.520%, 7d avg −0.294%

Together, before fees+0.230%+$23 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and SunX is 0.226% cheaper against Gate than usual: you would sell low and buy high (−$23 if the spread goes back to its 7-day average of −0.294%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate BYD_USDT	10.384	0.0091	pay 0.0091% / 8h	2h 11m	$155K	$53K	20x
Short	SunX BYD-USDT	10.330	0	get 0.0000% / 4h	2h 11m	—	$2.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against Gate. 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 GatebpFee SunXbpOrdersPrice spread, now −0.520%Rate

Funding earned: −$19.11
Price spread: −0.520% → −0.294%: −$22.62
Slippage, 4 orders: −$529.1
Fee Gate: 7.5 bp × 2 orders: −$15
Fee SunX: 4 bp × 2 orders: −$8
Net: −$593.82
Costs to cover: 5.521%
Break-even: never at this rate

Slippage from Gate: live order book, 29 min ago; SunX: 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 Gate live order book, 29 min ago	5.77 bp	167.8 bp −$168	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 4 min ago	53.22 bp	116.4 bp −$116	doesn't fit	doesn't fit	doesn't fit

BYD on 8 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
SunX BYD-USDTshort	0.0000%	4h	10.330	−0.520%	—	$2.1M	10x
HTX BYD-USDT	0.0000%	4h	10.340	−0.424%	$9K	$266K	20x	as long as short
Gate BYD_USDTlong	+0.0091%	8h	10.384	long leg	$155K	$53K	20x
KuCoin BYDUSDTM	+0.0100%	8h	10.346	−0.366%	$13K	$1.7M	20x	as long as short
Bybit BYDUSDT	+0.0122%	8h	10.350	−0.327%	$78K	$13K	25x	as long as short
edgeX BYDUSDC	+0.0832%	4h	10.333	−0.487%	$43K	$432K	10x	as long as short
Bitget BYDUSDT	+0.1443%	8h	10.332	−0.501%	$150K	$234K	20x	as long as short
Binance BYDUSDT	+0.1898%	4h	10.330	−0.520%	$1.5M	$876K	20x	as long as short