Funding arb · Price arb /

ARB

all ARB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0423%/8h= +46.3% APRpaid last 24h +0.112%

Price spread now: Coinbase International against Bybit+0.059%7-day average +0.201% · you sell dearer than you buy

Net, funding: paid 7d − costs−$20as in the Funding arb table

Net, price: spread back to 7d avg − costs−$73as in the Price arb table

costs, in and out, $10k−$590.586% of the position

Long on Bybit Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.390%+$39 on $10k

Price spread, last 4 days (all we have)+2.569%+$257 · spread now +0.059%, 7d avg +0.201%

Together, before fees+2.959%+$296 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.142% cheaper against Bybit than usual: you would sell low and buy high (spread +0.059% now, against its 7-day average of +0.201%). If the spread goes back, that is −$14 on $10k: about 27 hours of funding at the current rate (+$13 a day). At the pace of the last 7 days (+0.390% in total) that is about 2.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ARBUSDT	0.2194	−0.0087	get 0.0087% / 8h	7h 26m	$53.5M	$125.7M	50x
Short	Coinbase International ARB-PERP-INTX	0.2195	0.0336	get 0.0042% / 1h	26m 40s	$526K	$1.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.059%Rate

Funding earned: $88.78
Price spread: +0.059% → +0.201%: −$14.18
Slippage, 4 orders: −$37.56
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $16.05
Costs to cover: 0.586%
Break-even: 5.7 days

Slippage from Bybit: live order book, 2 min ago; Coinbase International: 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, 2 min ago	0.23 bp	9.5 bp −$10	19.8 bp −$198	47.2 bp −$4,719	doesn't fit
Sell Coinbase International live order book, 2 min ago	6.83 bp	22.4 bp −$22	41.8 bp −$418	doesn't fit	doesn't fit

ARB on 36 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
Injective ARB/USDC PERP	−0.1605%	1h	0.2179	−0.666%	$39K	$372K	12x	as long as short
SoDEX ARB-USD	−0.0221%	1h	0.2193	−0.005%	$9K	$2.3M	5x	as long as short
Kraken Futures PF_ARBUSD	−0.0168%	1h	0.2195	+0.049%	$1.1M	$4.2M	50x	as long as short
Deribit ARB_USDC-PERPETUAL	−0.0160%	1h	0.2195	+0.055%	$28K	$38K	25x	as long as short
Gate ARB_USDT	−0.0159%	8h	0.2193	−0.018%	$5.4M	$18.1M	60x	as long as short
Phemex ARBUSDT	−0.0117%	8h	0.2194	+0.018%	$4.8M	$12.8M	50x	as long as short
OKX ARB-USDT-SWAP	−0.0095%	8h	0.2194	0.000%	$22.2M	$145.5M	50x	as long as short
MEXC ARB_USDT	−0.0094%	8h	0.2194	0.000%	$43.5M	$63.1M	200x	as long as short
Bybit ARBUSDTlong	−0.0087%	8h	0.2194	long leg	$53.5M	$125.7M	50x
01 Exchange ARBUSD	−0.0056%	1h	0.2193	−0.027%	$7K	$209	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_ARB_USDC	−0.0037%	8h	0.2194	+0.018%	$16K	$414K	10x	as long as short
dYdX ARB-USD	0.0000%	1h	0.2196	+0.093%	$65K	$4K	10x	as long as short
gTrade (Gains Network) ARB/USD	L +0.0005% / S −0.0006%	1h	0.2192	−0.052%	$73K	—	150x	as long as short
Extended ARB-USD	+0.0016%	1h	0.2192	−0.079%	$361K	$3.0M	25x	as long as short
Binance ARBUSDT	+0.0018%	8h	0.2194	+0.009%	$63.4M	$298.1M	75x	as long as short
Variational Omni ARB	+0.0026%	8h	0.2189	−0.187%	$1.8M	$3.0M	—	as long as short
Bitget ARBUSDT	+0.0062%	8h	0.2192	−0.073%	$21.0M	$34.6M	50x	as long as short
BloFin ARB-USDT	+0.0063%	8h	0.2193	−0.009%	$3.0M	$2.3M	75x	as long as short
BingX ARB-USDT	+0.0065%	8h	0.2193	−0.023%	—	$32.8M	—	as long as short
Aevo ARB-PERP	+0.0088%	1h	0.2195	+0.064%	$139K	$7K	3x	as long as short
Lighter ARB	+0.0096%	1h	0.2195	+0.073%	$1.3M	$5.5M	15x	as long as short
Hyperliquid ARB	+0.0100%	1h	0.2196	+0.109%	$37.0M	$50.3M	10x	as long as short
Aster ARBUSDT	+0.0100%	8h	0.2196	+0.117%	$629K	$1.7M	20x	as long as short
Pacifica ARB	+0.0100%	1h	0.2196	+0.119%	$43K	$148K	10x	as long as short
KuCoin ARBUSDTM	+0.0100%	8h	0.2195	+0.059%	$19.5M	$13.7M	75x	as long as short
edgeX ARBUSDC	+0.0100%	4h	0.2187	−0.287%	$40K	$468K	20x	as long as short
GRVT ARB_USDT_Perp	+0.0100%	8h	0.2190	−0.168%	$466K	$3.6M	10x	as long as short
ApeX Omni ARBUSDT	+0.0100%	1h	0.2189	−0.210%	$118K	$267K	50x	as long as short
Polymarket Perps ARB-USD	+0.0100%	1h	0.2195	+0.087%	$74K	$2.0M	10x	as long as short
SunX ARB-USDT	+0.0100%	8h	0.2195	+0.064%	$2K	$1.1M	30x	as long as short
HTX ARB-USDT	+0.0100%	8h	0.2196	+0.114%	$294K	$835K	50x	as long as short
RISEx ARB/USDC	+0.0123%	1h	0.2194	+0.008%	$528K	$2.7M	10x	as long as short
Backpack ARB_USDC_PERP	+0.0182%	1h	0.2197	+0.141%	$981K	$2.8M	20x	as long as short
GMX ARB/USD [ARB-USDC]	L +0.0276% / S −0.0158%	1h	0.2195	+0.085%	$828K	—	150x	as long as short
Reya ARBRUSDPERP	+0.0288%	1h	0.2193	−0.029%	$2K	$695	20x	as long as short
Coinbase International ARB-PERP-INTXshort	+0.0336%	1h	0.2195	+0.059%	$526K	$1.5M	50x