Funding arb · Price arb /

NET

RWAall NET markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0483%/8h= −52.9% APRpaid last 24h −0.037%

Price spread now: Bybit against tradeXYZ−0.085%7-day average +0.111% · you buy dearer than you sell

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

Long on tradeXYZ Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.475%−$48 on $10k

Price spread, last 4 days (all we have)+0.154%+$15 · spread now −0.085%, 7d avg +0.111%

Together, before fees−0.321%+ Points / potential airdroptradeXYZ: Active · farm board−$32 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$14 a day on $10k at the current rate, and Bybit is 0.196% cheaper against tradeXYZ than usual: you would sell low and buy high (−$20 if the spread goes back to its 7-day average of +0.111%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:NET	353.34	0.0483	pay 0.0060% / 1h	51m 52s	$372K	$188K	10x
Short	Bybit NETUSDT	353.04	0	get 0.0000% / 8h	7h 51m	$384K	$112K	25x

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 −0.085%Rate

Funding earned: −$101.37
Price spread: −0.085% → +0.111%: −$19.58
Slippage, 4 orders: no order book: not counted
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$149.95
Costs to cover: 0.290%
Break-even: never at this rate

Slippage unknown: tradeXYZ: live order book, 4 min ago; Bybit: live order book, 13 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 tradeXYZ live order book, 4 min ago	7.37 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 13 min ago	7.10 bp	43.9 bp −$44	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	−0.0582%	1h	351.18	−0.611%	$174K	$38K	10x	as long as short
edgeX NETUSDC	−0.0209%	4h	353.16	−0.052%	$37K	$322K	10x	as long as short
Binance NETUSDT	0.0000%	8h	353.52	+0.050%	$370K	$839K	20x	as long as short
Bybit NETUSDTshort	0.0000%	8h	353.04	−0.085%	$384K	$112K	25x
OKX NET-USDT-SWAP	0.0000%	8h	353.79	+0.127%	$178K	$105K	20x	as long as short
Gate NET_USDT	0.0000%	8h	352.90	−0.125%	$40K	$6K	20x	as long as short
Bitget NETUSDT	0.0000%	8h	353.37	+0.008%	$205K	$623K	20x	as long as short
HTX NET-USDT	0.0000%	8h	353.10	−0.068%	$9K	$348K	20x	as long as short
Phoenix NET	+0.0068%	1h	352.98	−0.102%	$167	$85K	10x	as long as short
tradeXYZ xyz:NETlong	+0.0483%	1h	353.34	long leg	$372K	$188K	10x