Funding arb · Price arb /

COST

RWAall COST markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.015%

Price spread now: Bybit against tradeXYZ−0.006%7-day average +0.046% · you buy dearer than you sell

Net, funding: paid 7d − costs−$106as in the Funding arb table

Net, price: spread back to 7d avg − costs−$105as in the Price arb table

costs, in and out, $10k−$1001.002% of the position

Long on tradeXYZ Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.058%−$6 on $10k

Price spread, last 4 days (all we have)+0.045%+$4 · spread now −0.006%, 7d avg +0.046%

Together, before fees−0.014%+ Points / potential airdroptradeXYZ: Active · farm board−$1 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Bybit is 0.051% cheaper against tradeXYZ than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.046%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:COST	899.19	0.0050	pay 0.0006% / 1h	2m 21s	$1.8M	$515K	20x
Short	Bybit COSTUSDT	899.14	0	get 0.0000% / 8h	5h 02m	$491K	$218K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against tradeXYZ. 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 tradeXYZbpFee BybitbpOrdersPrice spread, now −0.006%Rate

Funding earned: −$10.5
Price spread: −0.006% → +0.046%: −$5.13
Slippage, 4 orders: −$71.17
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$115.8
Costs to cover: 1.002%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 5 min ago; Bybit: live order book, 53 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 tradeXYZ live order book, 5 min ago	1.17 bp	15.4 bp −$15	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 53 min ago	8.06 bp	56.8 bp −$57	202.9 bp −$2,029	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	899.28	+0.009%	$45K	$178	20x	as long as short
Bybit COSTUSDTshort	0.0000%	8h	899.14	−0.006%	$491K	$218K	25x
OKX COST-USDT-SWAP	0.0000%	8h	899.95	+0.085%	$447K	$109K	10x	as long as short
Gate COST_USDT	0.0000%	8h	899.58	+0.043%	$521K	$8K	25x	as long as short
Bitget COSTUSDT	0.0000%	8h	899.17	−0.002%	$403K	$77K	25x	as long as short
Variational Omni COST	0.0000%	8h	899.20	+0.001%	$42K	$17K	—	as long as short
SunX COST-USDT	0.0000%	8h	899.00	−0.021%	$1K	$2.9M	10x	as long as short
HTX COST-USDT	0.0000%	8h	901.12	+0.215%	$10K	$42K	10x	as long as short
QFEX COST-USD	+0.0005%	1h	899.28	+0.010%	$1.1M	$2.8M	10x	as long as short
Injective COST/USDC PERP	+0.0033%	1h	891.98	−0.802%	$2K	$28K	12x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended COST-USD	+0.0040%	1h	898.25	−0.105%	—	—	10x	as long as short
Vest COST-USD-PERP	+0.0046%	1h	898.83	−0.040%	—	—	25x	as long as short
tradeXYZ xyz:COSTlong	+0.0050%	1h	899.19	long leg	$1.8M	$515K	20x
Binance COSTUSDT	+0.0077%	8h	899.43	+0.027%	$1.1M	$925K	20x	as long as short
KuCoin COSTUSDTM	+0.0100%	8h	898.80	−0.043%	$47K	$876K	20x	as long as short