Funding arb · Price arb /

GBP

RWAall GBP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0464%/8h= +50.8% APRpaid last 24h 0.000%

Price spread now: Bybit against SunX+0.121%7-day average +0.080% · you sell dearer than you buy

Net, funding: paid 7d − costs−$216as in the Funding arb table

Net, price: spread back to 7d avg − costs−$212as in the Price arb table

costs, in and out, $10k−$2162.159% of the position

Long on SunX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)−0.119%−$12 · spread now +0.121%, 7d avg +0.080%

Together, before fees−0.119%−$12 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$14 a day on $10k at the current rate, and Bybit is 0.041% dearer against SunX than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.080%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.000% in total (about 0.0% 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	SunX GBPUSD-USDT	1.3358	0	get 0.0000% / 1h	48m 49s	—	$2.4M	10x
Short	Bybit GBPUSDUSDT	1.3374	0.0464	get 0.0464% / 8h	7h 48m	$270K	$67K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against SunX. 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 SunXbpFee BybitbpOrdersPrice spread, now +0.121%Rate

Funding earned: $97.47
Price spread: +0.121% → +0.080%: $4.09
Slippage, 4 orders: −$196.88
Fee SunX: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$114.32
Costs to cover: 2.159%
Break-even: 15.2 days

Slippage from SunX: live order book, 8 min ago; Bybit: live order book, 31 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 SunX live order book, 8 min ago	80.84 bp	98.6 bp −$99	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 31 min ago	0.04 bp	5.5 bp −$6	28.1 bp −$281	doesn't fit	doesn't fit

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-P	−0.0040%	1h	1.3353	−0.040%	$22K	$45K	20x	as long as short
Lighter GBPUSD	0.0000%	1h	1.3351	−0.055%	$193K	$982K	50x	as long as short
Gate GBPUSD_USDT	0.0000%	8h	1.3388	+0.225%	$223K	$10K	100x	as long as short
Bitget GBPUSDUSDT	0.0000%	8h	1.3356	−0.015%	$12K	$9K	100x	as long as short
SunX GBPUSD-USDTlong	0.0000%	1h	1.3358	long leg	—	$2.4M	10x
Kraken Futures PF_GBPUSD	0.0000%	1h	1.3349	−0.065%	$989	—	20x	as long as short
HTX GBPUSD-USDT	0.0000%	1h	1.3358	0.000%	$5K	$336K	20x	as long as short
Nado GBPUSD-PERP	+0.0020%	1h	1.3358	−0.001%	$16K	$1K	40x	as long as short
Vest GBP-USD-PERP	+0.0039%	1h	1.3346	−0.089%	—	$5K	100x	as long as short
tradeXYZ xyz:GBP	+0.0041%	1h	1.3356	−0.015%	$248K	$351K	50x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC GBP_USDT	+0.0174%	4h	1.3355	−0.022%	$26.0M	$252K	100x	as long as short
Injective GBPUSD/USDC PERP	+0.0220%	1h	1.3504	+1.090%	$11K	$72K	101x	as long as short
Bybit GBPUSDUSDTshort	+0.0464%	8h	1.3374	+0.121%	$270K	$67K	100x