Funding arb · Price arb /

IWM

RWAall IWM markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0006%/8h= −0.6% APRpaid last 24h −0.008%

Price spread now: Bybit against Markets by Kinetiq+0.094%7-day average −0.020% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$470.470% of the position

Long on Markets by Kinetiq Short on Bybit

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)−0.155%−$16 · spread now +0.094%, 7d avg −0.020%

Together, before fees−0.347%−$35 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.114% dearer against Markets by Kinetiq than usual: you sell high and buy low, +$11 on $10k if it goes back to its 7-day average of −0.020%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Markets by Kinetiq mkts:SMALL2000	286.93	0.0006	pay 0.0001% / 1h	45m 09s	$528K	$378K	20x
Short	Bybit IWMUSDT	287.20	0	get 0.0000% / 8h	5h 45m	$569K	$76K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Markets by Kinetiq. 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 Markets by KinetiqbpFee BybitbpOrdersPrice spread, now +0.094%Rate

Funding earned: −$1.18
Price spread: +0.094% → −0.020%: $11.42
Slippage, 4 orders: −$34.33
Fee Markets by Kinetiq: 0.81 bp × 2 orders: −$1.62
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$36.72
Costs to cover: 0.470%
Break-even: never at this rate

Slippage from Markets by Kinetiq: live order book, 57 min ago; Bybit: live order book, 62 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 Markets by Kinetiq live order book, 57 min ago	1.75 bp	7.2 bp −$7	44.2 bp −$442	doesn't fit	doesn't fit
Sell Bybit live order book, 62 min ago	2.80 bp	18.2 bp −$18	doesn't fit	doesn't fit	doesn't fit

IWM on 17 exchanges

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	287.28	+0.121%	$2K	$221	20x	as long as short
Bybit IWMUSDTshort	0.0000%	8h	287.20	+0.094%	$569K	$76K	25x
OKX IWM-USDT-SWAP	0.0000%	8h	287.09	+0.056%	$402K	$212K	20x	as long as short
Gate IWM_USDT	0.0000%	8h	287.11	+0.063%	$604K	$158K	20x	as long as short
Bitget IWMUSDT	0.0000%	8h	287.34	+0.143%	$446K	$18K	20x	as long as short
Variational Omni IWM	0.0000%	8h	287.32	+0.137%	$171K	$216K	—	as long as short
SunX IWM-USDT	0.0000%	8h	287.40	+0.164%	$739	$466K	10x	as long as short
HTX IWM-USDT	0.0000%	8h	287.75	+0.286%	$532	$38K	20x	as long as short
Phemex IWMUSDT	0.0000%	8h	287.35	+0.146%	$772K	$88K	10x	as long as short
Markets by Kinetiq mkts:SMALL2000long	+0.0006%	1h	286.93	long leg	$528K	$378K	20x

Show all 17 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter IWM	+0.0032%	1h	287.38	+0.157%	$75K	$3K	10x	as long as short
Vest IWM-USD-PERP	+0.0046%	1h	287.03	+0.035%	—	$1K	25x	as long as short
Binance IWMUSDT	+0.0053%	8h	287.34	+0.143%	$1.1M	$1.3M	20x	as long as short
MEXC IWM_USDT	+0.0053%	8h	287.25	+0.112%	$888K	$83K	50x	as long as short
BloFin IWM-USDT	+0.0074%	8h	287.32	+0.136%	$66K	$36K	20x	as long as short
KuCoin IWMUSDTM	+0.0100%	8h	287.30	+0.129%	$138K	$1.1M	20x	as long as short
GRVT IWM_USDT_Perp	+0.0107%	8h	287.39	+0.160%	$638	$106K	10x	as long as short