Funding arb · Price arb /

EUR

RWAall EUR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0169%/8h= −18.5% APRpaid last 24h −0.052%

Price spread now: Bybit against tradeXYZ+0.007%7-day average −0.036% · you sell dearer than you buy

Net, funding: paid 7d − costs−$91as in the Funding arb table

Net, price: spread back to 7d avg − costs−$51as in the Price arb table

costs, in and out, $10k−$560.556% of the position

Long on tradeXYZ Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.357%−$36 on $10k

Price spread, last 4 days (all we have)+0.011%+$1 · spread now +0.007%, 7d avg −0.036%

Together, before fees−0.346%+ Points / potential airdroptradeXYZ: Active · farm board−$35 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.043% dearer against tradeXYZ than usual: you sell high and buy low (spread +0.007% now, against its 7-day average of −0.036%): +$4 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 20 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:EUR	1.1481	0.0169	pay 0.0021% / 1h	13m 31s	$23.3M	$1.6M	50x
Short	Bybit EURUSDUSDT	1.1482	0	get 0.0000% / 8h	3h 13m	$585K	$223K	100x

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 +0.007%Rate

Funding earned: −$35.55
Price spread: +0.007% → −0.036%: $4.32
Slippage, 4 orders: −$26.62
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$86.84
Costs to cover: 0.556%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 5 min ago; Bybit: live order book, 32 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	1.31 bp	12.0 bp −$12	17.7 bp −$177	doesn't fit	doesn't fit
Sell Bybit live order book, 32 min ago	3.92 bp	13.0 bp −$13	34.9 bp −$349	doesn't fit	doesn't fit

EUR on 18 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
Hibachi EUR/USDT-P	−0.0240%	1h	1.1473	−0.071%	$175K	$8.3M	30x	as long as short
Kraken Futures PF_EURUSD	−0.0179%	1h	1.1474	−0.062%	$3K	—	50x	as long as short
MEXC EUR_USDT	−0.0172%	4h	1.1479	−0.017%	$6.8M	$134K	100x	as long as short
Lighter EURUSD	0.0000%	1h	1.1486	+0.045%	$2.1M	$415K	50x	as long as short
Bybit EURUSDUSDTshort	0.0000%	8h	1.1482	+0.007%	$585K	$223K	100x
Gate EURUSD_USDT	0.0000%	8h	1.1480	−0.009%	$144K	$5K	100x	as long as short
Bitget EURUSDUSDT	0.0000%	8h	1.1479	−0.017%	$253K	$21K	100x	as long as short
Orderly PERP_EURUSD_USDC	0.0000%	8h	1.1476	−0.044%	$198K	$73K	50x	as long as short
SunX EURUSD-USDT	0.0000%	1h	1.1482	+0.009%	—	$2.4M	10x	as long as short
HTX EURUSD-USDT	0.0000%	1h	1.1482	+0.009%	$13K	$264K	20x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado EURUSD-PERP	+0.0009%	1h	1.1480	−0.012%	$467K	$153K	40x	as long as short
Extended EUR-USD	+0.0032%	1h	1.1477	−0.039%	$6.7M	$1.2M	100x	as long as short
Injective EURUSD/USDC PERP	+0.0033%	1h	1.1466	−0.127%	$9K	$78K	101x	as long as short
Vest EUR-USD-PERP	+0.0046%	1h	1.1508	+0.238%	—	$265K	100x	as long as short
Pacifica EURUSD	+0.0100%	1h	1.1477	−0.034%	$191K	$63K	50x	as long as short
Aevo EURUSD-PERP	+0.0104%	1h	1.1483	+0.014%	$12K	—	10x	as long as short
Hotstuff EURUSD-PERP	+0.0120%	1h	1.1481	0.000%	$33K	—	50x	as long as short
tradeXYZ xyz:EURlong	+0.0169%	1h	1.1481	long leg	$23.3M	$1.6M	50x