Funding arb · Price arb /

SNXX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.2031%/8h= +222.4% APRpaid last 24h −0.029%

Price spread now: Bybit against tradeXYZ−0.011%7-day average −0.056% · you buy dearer than you sell

Net, funding: paid 7d − costs−$69as in the Funding arb table

Net, price: spread back to 7d avg − costs−$66as in the Price arb table

costs, in and out, $10k−$700.701% of the position

Long on tradeXYZ Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.012%+$1 on $10k

Price spread, last 4 days (all we have)+0.125%+$13 · spread now −0.011%, 7d avg −0.056%

Together, before fees+0.138%+ Points / potential airdroptradeXYZ: Active · farm board+$14 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$61 a day on $10k at the current rate, and Bybit is 0.045% dearer against tradeXYZ than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.056%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.012% in total (about 0.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:SNXX	17.892	0.0915	pay 0.0114% / 1h	57m 35s	$142K	$853K	10x
Short	Bybit SNXXUSDT	17.890	0.2946	get 0.2946% / 8h	6h 57m	$3.3M	$18.4M	50x

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 −0.011%Rate

Funding earned: $426.52
Price spread: −0.011% → −0.056%: $4.5
Slippage, 4 orders: −$41.05
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $360.97
Costs to cover: 0.701%
Break-even: 1.1 days

Slippage from tradeXYZ: live order book, 40 min ago; Bybit: live order book, 1 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 tradeXYZ live order book, 40 min ago	2.52 bp	22.0 bp −$22	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 1 min ago	2.80 bp	10.0 bp −$10	20.9 bp −$209	doesn't fit	doesn't fit

SNXX on 15 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
edgeX SNXXUSDC	−0.0327%	4h	17.900	+0.047%	$55K	$403K	10x	as long as short
SunX SNXX-USDT	0.0000%	8h	17.890	−0.011%	—	$4.8M	10x	as long as short
Phemex SNXXUSDT	0.0000%	8h	17.870	−0.123%	$1.6M	$1.5M	20x	as long as short
Orderly PERP_SNXX_USDC_mythos	+0.0100%	8h	17.910	+0.101%	$1K	$2K	10x	as long as short
KuCoin SNXXUSDTM	+0.0145%	8h	17.900	+0.045%	$212K	$306K	20x	as long as short
Gate SNXX_USDT	+0.0240%	8h	17.886	−0.034%	$4.4M	$17.6M	50x	as long as short
OKX SNXX-USDT-SWAP	+0.0309%	8h	17.880	−0.067%	$5.2M	$61.7M	25x	as long as short
Bitget SNXXUSDT	+0.0582%	8h	17.884	−0.045%	$4.1M	$41.4M	20x	as long as short
Aster SNXXUSDT	+0.0656%	8h	17.900	+0.042%	$53K	$573K	20x	as long as short
Binance SNXXUSDT	+0.0862%	8h	17.882	−0.053%	$33.5M	$467.9M	25x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC SNXX_USDT	+0.0866%	8h	17.880	−0.067%	$7.7M	$7.5M	50x	as long as short
BloFin SNXX-USDT	+0.0896%	8h	17.890	−0.011%	$289K	$284K	25x	as long as short
tradeXYZ xyz:SNXXlong	+0.0915%	1h	17.892	long leg	$142K	$853K	10x
HTX SNXX-USDT	+0.1985%	8h	17.900	+0.045%	$10K	$5K	10x	as long as short
Bybit SNXXUSDTshort	+0.2946%	8h	17.890	−0.011%	$3.3M	$18.4M	50x