Funding arb · Price arb /

NET

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bybit against HTX+0.011%7-day average −0.038% · you sell dearer than you buy

Net, funding: paid 7d − costs−$827as in the Funding arb table

Net, price: spread back to 7d avg − costs−$822as in the Price arb table

costs, in and out, $10k−$8278.269% of the position

Long on HTX 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 3 days (all we have)−0.114%−$11 · spread now +0.011%, 7d avg −0.038%

Together, before fees−0.114%−$11 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 0.050% dearer against HTX than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.038%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX NET-USDT	353.38	0	get 0.0000% / 8h	6h 20m	$9K	$345K	20x
Short	Bybit NETUSDT	353.42	0	get 0.0000% / 8h	6h 20m	$384K	$108K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against HTX. 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 HTXbpFee BybitbpOrdersPrice spread, now +0.011%Rate

Funding earned: $0
Price spread: +0.011% → −0.038%: $4.95
Slippage, 4 orders: −$803.89
Fee HTX: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$821.93
Costs to cover: 8.269%
Break-even: never at this rate

Slippage from HTX: live order book, 47 min ago; Bybit: live order book, 39 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 HTX live order book, 47 min ago	40.33 bp	292.4 bp −$292	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 39 min ago	2.41 bp	45.8 bp −$46	doesn't fit	doesn't fit	doesn't fit

NET on 10 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
Paragon para:NET	−0.0049%	1h	352.23	−0.325%	$175K	$38K	10x	as long as short
Binance NETUSDT	0.0000%	8h	353.35	−0.009%	$368K	$765K	20x	as long as short
Bybit NETUSDTshort	0.0000%	8h	353.42	+0.011%	$384K	$108K	25x
OKX NET-USDT-SWAP	0.0000%	8h	353.10	−0.079%	$177K	$101K	20x	as long as short
Gate NET_USDT	0.0000%	8h	352.90	−0.136%	$40K	$6K	20x	as long as short
Bitget NETUSDT	0.0000%	8h	353.30	−0.023%	$185K	$567K	20x	as long as short
HTX NET-USDTlong	0.0000%	8h	353.38	long leg	$9K	$345K	20x
tradeXYZ xyz:NET	+0.0050%	1h	353.53	+0.042%	$372K	$185K	10x	as long as short
Phoenix NET	+0.0317%	1h	353.26	−0.034%	$167	$85K	10x	as long as short
edgeX NETUSDC	+0.0674%	4h	353.45	+0.021%	$37K	$325K	10x	as long as short