Funding arb · Price arb /

GBP

RWAall GBP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0031%/8h= −3.4% APRpaid last 24h −0.001%

Price spread now: Bybit against tradeXYZ+0.053%7-day average +0.071% · you sell dearer than you buy

Net, funding: paid 7d − costs−$33as in the Funding arb table

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$410.408% of the position

Long on tradeXYZ Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.083%+$8 on $10k

Price spread, last 4 days (all we have)−0.038%−$4 · spread now +0.053%, 7d avg +0.071%

Together, before fees+0.045%+ Points / potential airdroptradeXYZ: Active · farm board+$4 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.071%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.083%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:GBP	1.3367	0.0031	pay 0.0004% / 1h	8m 32s	$246K	$349K	50x
Short	Bybit GBPUSDUSDT	1.3374	0	get 0.0000% / 8h	8m 32s	$246K	$54K	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 +0.053%Rate

Funding earned: −$6.55
Price spread: +0.053% → +0.071%: −$1.81
Slippage, 4 orders: −$11.85
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$49.21
Costs to cover: 0.408%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 48 min ago; Bybit: live order book, 12 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, 48 min ago	0.37 bp	11.3 bp −$11	12.3 bp −$123	doesn't fit	doesn't fit
Sell Bybit live order book, 12 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	−0.0072%	1h	1.3363	−0.032%	$22K	$45K	20x	as long as short
Nado GBPUSD-PERP	−0.0014%	1h	1.3365	−0.014%	$16K	$1K	40x	as long as short
Lighter GBPUSD	0.0000%	1h	1.3361	−0.046%	$181K	$972K	50x	as long as short
Bybit GBPUSDUSDTshort	0.0000%	8h	1.3374	+0.053%	$246K	$54K	100x
Gate GBPUSD_USDT	0.0000%	8h	1.3386	+0.142%	$222K	$9K	100x	as long as short
Bitget GBPUSDUSDT	0.0000%	8h	1.3364	−0.022%	$12K	$9K	100x	as long as short
SunX GBPUSD-USDT	0.0000%	1h	1.3369	+0.015%	—	$2.4M	10x	as long as short
Kraken Futures PF_GBPUSD	0.0000%	1h	1.3358	−0.065%	$990	—	20x	as long as short
HTX GBPUSD-USDT	0.0000%	1h	1.3367	0.000%	$5K	$336K	20x	as long as short
tradeXYZ xyz:GBPlong	+0.0031%	1h	1.3367	long leg	$246K	$349K	50x

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest GBP-USD-PERP	+0.0039%	1h	1.3355	−0.091%	—	$5K	100x	as long as short
MEXC GBP_USDT	+0.0188%	4h	1.3365	−0.015%	$26.0M	$270K	100x	as long as short
Injective GBPUSD/USDC PERP	+0.0220%	1h	1.3602	+1.757%	$11K	$72K	101x	as long as short