Funding arb · Price arb /

COST

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0249%/8h= +27.3% APRpaid last 24h +0.015%

Price spread now: tradeXYZ against Bybit+0.018%7-day average −0.045% · you sell dearer than you buy

Net, funding: paid 7d − costs−$68as in the Funding arb table

Net, price: spread back to 7d avg − costs−$67as in the Price arb table

costs, in and out, $10k−$730.732% of the position

Long on Bybit Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.056%+$6 on $10k

Price spread, last 4 days (all we have)−0.057%−$6 · spread now +0.018%, 7d avg −0.045%

Together, before fees−0.001%+ Points / potential airdroptradeXYZ: Active · farm board$0 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and tradeXYZ is 0.062% dearer against Bybit than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.045%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.056% in total (about 2.9% 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 COSTUSDT	902.55	0	get 0.0000% / 8h	6h 55m	$490K	$93K	25x
Short	tradeXYZ xyz:COST	902.71	0.0249	get 0.0031% / 1h	55m 12s	$1.8M	$512K	20x

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 +0.018%Rate

Funding earned: $52.31
Price spread: +0.018% → −0.045%: $6.25
Slippage, 4 orders: −$44.2
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$14.65
Costs to cover: 0.732%
Break-even: 9.0 days

Slippage from Bybit: live order book, 30 min ago; tradeXYZ: live order book, 2 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, 30 min ago	8.15 bp	15.7 bp −$16	63.1 bp −$631	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 2 min ago	0.05 bp	10.3 bp −$10	doesn't fit	doesn't fit	doesn't fit

COST on 15 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 COSTUSDT	0.0000%	8h	902.80	+0.027%	$45K	$133	20x	as long as short
Binance COSTUSDT	0.0000%	8h	903.04	+0.054%	$1.1M	$1.0M	20x	as long as short
Bybit COSTUSDTlong	0.0000%	8h	902.55	long leg	$490K	$93K	25x
OKX COST-USDT-SWAP	0.0000%	8h	902.69	+0.016%	$441K	$121K	10x	as long as short
Gate COST_USDT	0.0000%	8h	903.24	+0.076%	$523K	$8K	25x	as long as short
Bitget COSTUSDT	0.0000%	8h	902.94	+0.043%	$411K	$79K	25x	as long as short
Variational Omni COST	0.0000%	8h	902.92	+0.041%	$40K	$14K	—	as long as short
SunX COST-USDT	0.0000%	8h	902.50	−0.006%	$2K	$2.7M	10x	as long as short
HTX COST-USDT	0.0000%	8h	904.23	+0.186%	$10K	$42K	10x	as long as short
QFEX COST-USD	+0.0001%	1h	902.69	+0.016%	$1.1M	$2.4M	10x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective COST/USDC PERP	+0.0033%	1h	891.98	−1.171%	$2K	$28K	12x	as long as short
Extended COST-USD	+0.0040%	1h	901.56	−0.109%	—	—	10x	as long as short
Vest COST-USD-PERP	+0.0046%	1h	901.54	−0.112%	—	—	25x	as long as short
KuCoin COSTUSDTM	+0.0100%	8h	902.20	−0.039%	$48K	$971K	20x	as long as short
tradeXYZ xyz:COSTshort	+0.0249%	1h	902.71	+0.018%	$1.8M	$512K	20x