Funding arb · Price arb /

ALT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0244%/8h= +26.7% APRpaid last 24h +0.051%

Price spread now: Bybit against Deribit−0.092%7-day average — · you buy dearer than you sell

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

Long on Deribit Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 2 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Bybit is 0.092% cheaper against Deribit than usual: you would sell low and buy high (spread −0.092% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$9 on $10k: about 30 hours of funding at the current rate (+$7 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit ALT_USDC-PERPETUAL	0.007619	−0.0144	get 0.0018% / 1h	52m 04s	—	$0	25x
Short	Bybit ALTUSDT	0.007612	0.0100	get 0.0050% / 4h	2h 52m	$1.2M	$1.8M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Deribit. 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 DeribitbpFee BybitbpOrdersPrice spread, now −0.092%Rate

Funding earned: $51.16
Price spread: −0.092% → 0.000%: −$9.19
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $23.97
Costs to cover: 0.180%
Break-even: 3.7 days

Slippage unknown: Deribit: no order-book sample; Bybit: live order book, 4 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 Deribit no order-book sample	—	—	—	—	—
Sell Bybit live order book, 4 min ago	3.95 bp	28.4 bp −$28	130.0 bp −$1,300	doesn't fit	doesn't fit

Deribit: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

ALT on 14 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
Kraken Futures PF_ALTUSD	−0.0469%	1h	0.007619	+0.001%	$45K	$8K	10x	as long as short
Deribit ALT_USDC-PERPETUALlong	−0.0144%	1h	0.007619	long leg	—	$0	25x
Injective ALT/USDC PERP	+0.0033%	1h	0.007691	+0.945%	$837	$4K	5.5x	as long as short
BloFin ALT-USDT	+0.0097%	4h	0.007608	−0.144%	$172K	$9K	50x	as long as short
Variational Omni ALT	+0.0100%	4h	0.007598	−0.273%	$4K	$16K	—	as long as short
Hyperliquid ALT	+0.0100%	1h	0.007610	−0.118%	$1.1M	$137K	3x	as long as short
Binance ALTUSDT	+0.0100%	4h	0.007616	−0.035%	$2.6M	$3.5M	50x	as long as short
Bybit ALTUSDTshort	+0.0100%	4h	0.007612	−0.092%	$1.2M	$1.8M	25x
Gate ALT_USDT	+0.0100%	8h	0.007611	−0.105%	$50K	$370K	25x	as long as short
MEXC ALT_USDT	+0.0100%	4h	0.007616	−0.039%	$380K	$170K	50x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ALTUSDTM	+0.0100%	4h	0.007617	−0.026%	$146K	$22K	30x	as long as short
Bitget ALTUSDT	+0.0100%	4h	0.007612	−0.092%	$614K	$127K	50x	as long as short
BingX ALT-USDT	+0.0100%	4h	0.007617	−0.026%	—	$1.3M	—	as long as short
Coinbase International ALT-PERP-INTX	+0.0408%	1h	0.007691	+0.945%	$14K	$3K	50x	as long as short