Funding arb · Price arb /

GBP

RWAall GBP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0056%/8h= −6.1% APRpaid last 24h +0.059%

Price spread now: Hibachi against Bybit−0.097%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Bybit Short on Hibachi

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHibachi: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Hibachi is 0.097% cheaper against Bybit than usual: you would sell low and buy high (−$10 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit GBPUSDUSDT	1.3375	0	get 0.0000% / 8h	2m 58s	$246K	$54K	100x
Short	Hibachi GBP/USDT-P	1.3362	−0.0056	pay 0.0007% / 1h	2m 58s	$22K	$45K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hibachi 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 HibachibpOrdersPrice spread, now −0.097%Rate

Funding earned: −$11.76
Price spread: −0.097% → 0.000%: −$9.73
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Hibachi: 4.5 bp × 2 orders: −$9
Net: −$41.49
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 17 min ago; Hibachi: no order-book sample. Net counts fees only.

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, 17 min ago	0.04 bp	12.1 bp −$12	45.9 bp −$459	doesn't fit	doesn't fit
Sell Hibachi no order-book sample	—	—	—	—	—

Hibachi: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

GBP on 13 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 GBP/USDT-Pshort	−0.0056%	1h	1.3362	−0.097%	$22K	$45K	20x
Nado GBPUSD-PERP	−0.0014%	1h	1.3364	−0.083%	$16K	$1K	40x	as long as short
Lighter GBPUSD	0.0000%	1h	1.3359	−0.119%	$181K	$972K	50x	as long as short
Bybit GBPUSDUSDTlong	0.0000%	8h	1.3375	long leg	$246K	$54K	100x
Gate GBPUSD_USDT	0.0000%	8h	1.3387	+0.092%	$222K	$9K	100x	as long as short
Bitget GBPUSDUSDT	0.0000%	8h	1.3362	−0.095%	$12K	$9K	100x	as long as short
SunX GBPUSD-USDT	0.0000%	1h	1.3368	−0.050%	—	$2.4M	10x	as long as short
Kraken Futures PF_GBPUSD	0.0000%	1h	1.3355	−0.145%	$990	—	20x	as long as short
HTX GBPUSD-USDT	0.0000%	1h	1.3368	−0.050%	$5K	$336K	20x	as long as short
Vest GBP-USD-PERP	+0.0039%	1h	1.3353	−0.164%	—	$5K	100x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:GBP	+0.0040%	1h	1.3367	−0.058%	$246K	$349K	50x	as long as short
MEXC GBP_USDT	+0.0172%	4h	1.3363	−0.087%	$26.0M	$271K	100x	as long as short
Injective GBPUSD/USDC PERP	+0.0220%	1h	1.3602	+1.699%	$11K	$72K	101x	as long as short