Funding arb · Price arb /

WDC

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0115%/8h= +12.6% APRpaid last 24h −0.011%

Price spread now: tradeXYZ against Bybit−0.047%7-day average −0.069% · you buy dearer than you sell

Net, funding: paid 7d − costs−$72as in the Funding arb table

Net, price: spread back to 7d avg − costs−$68as in the Price arb table

costs, in and out, $10k−$710.706% of the position

Long on Bybit Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days−0.013%−$1 on $10k

Price spread, last 7 days−0.042%−$4 · spread now −0.047%, 7d avg −0.069%

Together, before fees−0.055%+ Points / potential airdroptradeXYZ: Active · farm board−$6 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and tradeXYZ is 0.023% dearer against Bybit than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of −0.069%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit WDCUSDT	449.55	0.0052	pay 0.0052% / 8h	36m 18s	$1.9M	$803K	25x
Short	tradeXYZ xyz:WDC	449.34	0.0167	get 0.0021% / 1h	36m 18s	$2.4M	$2.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ against Bybit. 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 BybitbpFee tradeXYZbpOrdersPrice spread, now −0.047%Rate

Funding earned: $24.21
Price spread: −0.047% → −0.069%: $2.27
Slippage, 4 orders: −$41.57
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$44.09
Costs to cover: 0.706%
Break-even: 19.7 days

Slippage from Bybit: live order book, 5 min ago; tradeXYZ: live order book, 2 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 Bybit live order book, 5 min ago	1.67 bp	21.0 bp −$21	127.4 bp −$1,274	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 2 min ago	0.56 bp	15.4 bp −$15	doesn't fit	doesn't fit	doesn't fit

WDC 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
BloFin WDC-USDT	−0.0012%	8h	449.48	−0.016%	$146K	$93K	20x	as long as short
Aster WDCUSDT	0.0000%	8h	449.39	−0.036%	$20K	$105K	20x	as long as short
Extended WDC-USD	0.0000%	1h	449.31	−0.053%	$6K	$140K	10x	as long as short
Binance WDCUSDT	0.0000%	8h	449.39	−0.036%	$7.7M	$25.5M	20x	as long as short
Gate WDC_USDT	0.0000%	8h	449.30	−0.056%	$2.0M	$2.9M	50x	as long as short
Bitget WDCUSDT	0.0000%	8h	449.48	−0.016%	$1.2M	$1.2M	20x	as long as short
GRVT WDC_USDT_Perp	0.0000%	8h	449.52	−0.007%	$926	$175K	10x	as long as short
Lighter WDC	+0.0032%	1h	449.13	−0.093%	—	—	10x	as long as short
OKX WDC-USDT-SWAP	+0.0047%	8h	449.58	+0.007%	$2.2M	$4.1M	20x	as long as short
Bybit WDCUSDTlong	+0.0052%	8h	449.55	long leg	$1.9M	$803K	25x

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX WDC-USD	+0.0069%	1h	449.38	−0.038%	$1.1M	$3.9M	10x	as long as short
KuCoin WDCUSDTM	+0.0100%	8h	449.20	−0.078%	$299K	$17K	20x	as long as short
Orderly PERP_WDC_USDC_mythos	+0.0100%	8h	449.25	−0.067%	$9K	$2K	10x	as long as short
SunX WDC-USDT	+0.0100%	8h	449.50	−0.011%	—	$2.7M	10x	as long as short
HTX WDC-USDT	+0.0100%	8h	449.59	+0.009%	$33K	$9K	10x	as long as short
tradeXYZ xyz:WDCshort	+0.0167%	1h	449.34	−0.047%	$2.4M	$2.5M	10x
edgeX WDCUSDC	+0.0615%	4h	449.37	−0.041%	$50K	$230K	10x	as long as short