Funding arb · Price arb /

ATH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0107%/8h= +11.7% APRpaid last 24h +0.015%

Price spread now: Bybit against dYdX−0.202%7-day average — · you buy dearer than you sell

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

Long on dYdX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 5 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 0.202% cheaper against dYdX than usual: you would sell low and buy high (spread −0.202% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$20 on $10k: about 6.3 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX ATH-USD	0.005560	−0.0007	get 0.0001% / 1h	18m 30s	$11K	$16	5x
Short	Bybit ATHUSDT	0.005549	0.0100	get 0.0050% / 4h	1h 18m	$4.5M	$2.2M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against dYdX. 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 dYdXbpFee BybitbpOrdersPrice spread, now −0.202%Rate

Funding earned: $22.41
Price spread: −0.202% → 0.000%: −$20.18
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$18.77
Costs to cover: 0.210%
Break-even: 12.9 days

Slippage unknown: dYdX: 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 dYdX no order-book sample	—	—	—	—	—
Sell Bybit live order book, 4 min ago	3.61 bp	30.6 bp −$31	121.3 bp −$1,213	doesn't fit	doesn't fit

dYdX: 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.

ATH on 13 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_ATHUSD	−0.4648%	1h	0.005552	−0.141%	$19K	$106K	10x	as long as short
dYdX ATH-USDlong	−0.0007%	1h	0.005560	long leg	$11K	$16	5x
Variational Omni ATH	+0.0053%	4h	0.005545	−0.268%	$186K	$94K	—	as long as short
OKX ATH-USDT-SWAP	+0.0085%	4h	0.005545	−0.274%	$705K	$1.2M	20x	as long as short
Aster ATHUSDT	+0.0100%	4h	0.005558	−0.042%	$4K	$37K	5x	as long as short
Binance ATHUSDT	+0.0100%	4h	0.005558	−0.044%	$3.4M	$3.8M	50x	as long as short
Bybit ATHUSDTshort	+0.0100%	4h	0.005549	−0.202%	$4.5M	$2.2M	25x
Gate ATH_USDT	+0.0100%	4h	0.005547	−0.238%	$792K	$522K	30x	as long as short
MEXC ATH_USDT	+0.0100%	4h	0.005557	−0.058%	$8.9M	$659K	50x	as long as short
KuCoin ATHUSDTM	+0.0100%	4h	0.005551	−0.166%	$568K	$77K	30x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget ATHUSDT	+0.0100%	4h	0.005556	−0.076%	$1.6M	$794K	25x	as long as short
BingX ATH-USDT	+0.0100%	4h	0.005550	−0.184%	—	$21.9M	—	as long as short
BloFin ATH-USDT	+0.0108%	4h	0.005562	+0.032%	$172K	$60K	75x	as long as short