Funding arb · Price arb /

IWM

RWAall IWM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0046%/8h= +5.0% APRpaid last 24h +0.009%

Price spread now: Markets by Kinetiq against Bybit−0.039%7-day average +0.022% · you buy dearer than you sell

Net, funding: paid 7d − costs−$66as in the Funding arb table

Net, price: spread back to 7d avg − costs−$92as in the Price arb table

costs, in and out, $10k−$860.856% of the position

Long on Bybit Short on Markets by Kinetiq

What this pair did over the last

the charts below follow

Funding, last 7 days+0.191%+$19 on $10k

Price spread, last 4 days (all we have)+0.086%+$9 · spread now −0.039%, 7d avg +0.022%

Together, before fees+0.277%+$28 on $10k · with fees, hour by hour

Funding pays, the price is against you. Markets by Kinetiq is 0.061% cheaper against Bybit than usual: you would sell low and buy high (spread −0.039% now, against its 7-day average of +0.022%). If the spread goes back, that is −$6 on $10k: about 4.4 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit IWMUSDT	285.07	0	get 0.0000% / 8h	6m 44s	$556K	$61K	25x
Short	Markets by Kinetiq mkts:SMALL2000	284.96	0.0046	get 0.0006% / 1h	6m 44s	$566K	$358K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Markets by Kinetiq 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 Markets by KinetiqbpOrdersPrice spread, now −0.039%Rate

Funding earned: $9.59
Price spread: −0.039% → +0.022%: −$6.07
Slippage, 4 orders: −$72.97
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Markets by Kinetiq: 0.81 bp × 2 orders: −$1.62
Net: −$82.07
Costs to cover: 0.856%
Break-even: 66.9 days

Slippage from Bybit: live order book, 23 min ago; Markets by Kinetiq: live order book, 49 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 Bybit live order book, 23 min ago	3.68 bp	33.3 bp −$33	doesn't fit	doesn't fit	doesn't fit
Sell Markets by Kinetiq live order book, 49 min ago	1.23 bp	3.6 bp −$4	56.6 bp −$566	doesn't fit	doesn't fit

IWM on 17 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 IWMUSDT	0.0000%	8h	285.18	+0.039%	$2K	$221	20x	as long as short
Bybit IWMUSDTlong	0.0000%	8h	285.07	long leg	$556K	$61K	25x
OKX IWM-USDT-SWAP	0.0000%	8h	285.33	+0.091%	$437K	$158K	20x	as long as short
Gate IWM_USDT	0.0000%	8h	285.34	+0.095%	$606K	$160K	20x	as long as short
Bitget IWMUSDT	0.0000%	8h	285.34	+0.095%	$441K	$15K	20x	as long as short
Variational Omni IWM	0.0000%	8h	285.37	+0.105%	$169K	$216K	—	as long as short
SunX IWM-USDT	0.0000%	8h	285.23	+0.056%	$331	$464K	10x	as long as short
HTX IWM-USDT	0.0000%	8h	285.12	+0.018%	$419	$38K	20x	as long as short
Phemex IWMUSDT	0.0000%	8h	285.35	+0.098%	$765K	$82K	10x	as long as short
Lighter IWM	+0.0032%	1h	285.30	+0.081%	$74K	$19K	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Markets by Kinetiq mkts:SMALL2000short	+0.0046%	1h	284.96	−0.039%	$566K	$358K	20x
Vest IWM-USD-PERP	+0.0046%	1h	285.00	−0.025%	—	$1K	25x	as long as short
BloFin IWM-USDT	+0.0051%	8h	285.36	+0.102%	$67K	$33K	20x	as long as short
MEXC IWM_USDT	+0.0068%	8h	285.32	+0.088%	$882K	$85K	50x	as long as short
Binance IWMUSDT	+0.0070%	8h	285.41	+0.120%	$1.1M	$1.2M	20x	as long as short
KuCoin IWMUSDTM	+0.0100%	8h	285.48	+0.144%	$140K	$900K	20x	as long as short
GRVT IWM_USDT_Perp	+0.0439%	8h	285.38	+0.107%	$394	$102K	10x	as long as short