Funding arb · Price arb /

SHAZ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0215%/8h= +23.6% APRpaid last 24h −0.258%

Price spread now: tradeXYZ against Bitget−0.107%7-day average −0.134% · you buy dearer than you sell

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

Long on Bitget Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.102%+$10 on $10k

Price spread, last 4 days (all we have)−0.156%−$16 · spread now −0.107%, 7d avg −0.134%

Together, before fees−0.055%+ Points / potential airdroptradeXYZ: Active · farm board−$5 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and tradeXYZ is 0.027% dearer against Bitget than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.134%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.102% in total (about 5.3% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget SHAZUSDT	59.630	0	get 0.0000% / 8h	5h 02m	$196K	$158K	20x
Short	tradeXYZ xyz:SHAZ	59.566	0.0215	get 0.0027% / 1h	2m 07s	$1.3M	$303K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ against Bitget. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 BitgetbpFee tradeXYZbpOrdersPrice spread, now −0.107%Rate

Funding earned: $45.18
Price spread: −0.107% → −0.134%: $2.66
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: $17.84
Costs to cover: 0.300%
Break-even: 4.2 days

Slippage unknown: Bitget: live order book, 35 min ago; tradeXYZ: live order book, 8 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 Bitget live order book, 35 min ago	20.21 bp	121.4 bp −$121	127.5 bp −$1,275	193.7 bp −$19.4K	doesn't fit
Sell tradeXYZ live order book, 8 min ago	2.44 bp	45.3 bp −$45	103.5 bp −$1,035	doesn't fit	doesn't fit

SHAZ on 11 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
OKX SHAZ-USDT-SWAP	0.0000%	8h	59.520	−0.184%	$446K	$264K	10x	as long as short
Gate SHAZ_USDT	0.0000%	8h	59.540	−0.151%	$183K	$41K	20x	as long as short
Bitget SHAZUSDTlong	0.0000%	8h	59.630	long leg	$196K	$158K	20x
HTX SHAZ-USDT	0.0000%	8h	59.504	−0.211%	$6K	$39K	10x	as long as short
QFEX SHAZ-USD	+0.0008%	1h	59.440	−0.319%	$1.1M	$1.9M	10x	as long as short
Variational Omni SHAZ	+0.0052%	8h	59.614	−0.026%	$42K	$59K	—	as long as short
Binance SHAZUSDT	+0.0203%	8h	59.590	−0.067%	$480K	$2.1M	10x	as long as short
tradeXYZ xyz:SHAZshort	+0.0215%	1h	59.566	−0.107%	$1.3M	$303K	10x
edgeX SHAZUSDC	+0.0742%	4h	59.597	−0.055%	$17K	$292K	10x	as long as short
KuCoin SHAZUSDTM	+0.0877%	8h	59.780	+0.252%	$78K	$565K	20x	as long as short

Show all 11 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit SHAZUSDT	+0.0973%	8h	59.570	−0.101%	$153K	$475K	25x	as long as short