Funding arb · Price arb /

IWM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bybit against SunX−0.056%7-day average −0.020% · you buy dearer than you sell

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

Long on SunX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.025%−$2 on $10k

Price spread, last 4 days (all we have)+0.077%+$8 · spread now −0.056%, 7d avg −0.020%

Together, before fees+0.052%+$5 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 0.036% cheaper against SunX than usual: you would sell low and buy high, −$4 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	SunX IWM-USDT	285.64	0	get 0.0000% / 8h	7h 14m	$971	$465K	10x
Short	Bybit IWMUSDT	285.48	0	get 0.0000% / 8h	7h 14m	$565K	$74K	25x

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 −0.056%Rate

Funding earned: $0
Price spread: −0.056% → −0.020%: −$3.58
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$22.58
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 27 min ago; Bybit: live order book, 11 min ago. 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 SunX live order book, 27 min ago	500.18 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 11 min ago	2.11 bp	22.7 bp −$23	doesn't fit	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	285.44	−0.070%	$2K	$221	20x	as long as short
Bybit IWMUSDTshort	0.0000%	8h	285.48	−0.056%	$565K	$74K	25x
OKX IWM-USDT-SWAP	0.0000%	8h	285.77	+0.046%	$438K	$158K	20x	as long as short
Gate IWM_USDT	0.0000%	8h	285.44	−0.070%	$602K	$167K	20x	as long as short
Bitget IWMUSDT	0.0000%	8h	285.46	−0.063%	$441K	$16K	20x	as long as short
Variational Omni IWM	0.0000%	8h	285.71	+0.026%	$170K	$217K	—	as long as short
SunX IWM-USDTlong	0.0000%	8h	285.64	long leg	$971	$465K	10x
HTX IWM-USDT	0.0000%	8h	285.62	−0.007%	$628	$38K	20x	as long as short
Phemex IWMUSDT	0.0000%	8h	285.63	−0.004%	$766K	$86K	10x	as long as short
GRVT IWM_USDT_Perp	+0.0029%	8h	285.18	−0.160%	$659	$101K	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter IWM	+0.0032%	1h	285.90	+0.091%	$75K	$19K	10x	as long as short
Markets by Kinetiq mkts:SMALL2000	+0.0046%	1h	285.37	−0.095%	$565K	$360K	20x	as long as short
Vest IWM-USD-PERP	+0.0046%	1h	285.44	−0.070%	—	$1K	25x	as long as short
MEXC IWM_USDT	+0.0066%	8h	285.63	−0.004%	$882K	$85K	50x	as long as short
Binance IWMUSDT	+0.0070%	8h	285.78	+0.047%	$1.1M	$1.2M	20x	as long as short
BloFin IWM-USDT	+0.0091%	8h	285.62	−0.007%	$67K	$34K	20x	as long as short
KuCoin IWMUSDTM	+0.0100%	8h	285.44	−0.070%	$139K	$944K	20x	as long as short