Funding arb · Price arb /

CFX

all CFX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0172%/8h= +18.8% APRpaid last 24h +0.074%

Price spread now: Coinbase International against Bybit−0.019%7-day average +0.184% · you buy dearer than you sell

Net, funding: paid 7d − costs−$95as in the Funding arb table

Net, price: spread back to 7d avg − costs−$141as in the Price arb table

costs, in and out, $10k−$1211.207% 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+0.255%+$26 on $10k

Price spread, last 4 days (all we have)+0.133%+$13 · spread now −0.019%, 7d avg +0.184%

Together, before fees+0.389%+$39 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.203% cheaper against Bybit than usual: you would sell low and buy high (spread −0.019% now, against its 7-day average of +0.184%). If the spread goes back, that is −$20 on $10k: about 3.9 days of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit CFXUSDT	0.05294	0.0100	pay 0.0100% / 8h	22m 26s	$2.5M	$1.4M	25x
Short	Coinbase International CFX-PERP-INTX	0.05293	0.0272	get 0.0034% / 1h	22m 26s	$36K	$110K	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 −0.019%Rate

Funding earned: $36.12
Price spread: −0.019% → +0.184%: −$20.33
Slippage, 4 orders: −$99.71
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$104.92
Costs to cover: 1.207%
Break-even: 27.3 days

Slippage from Bybit: live order book, 10 min ago; Coinbase International: live order book, 15 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, 10 min ago	2.83 bp	25.1 bp −$25	763.5 bp −$7,635	doesn't fit	doesn't fit
Sell Coinbase International live order book, 15 min ago	9.43 bp	19.6 bp −$20	doesn't fit	doesn't fit	doesn't fit

CFX on 16 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
Aster CFXUSDT	+0.0100%	8h	0.05294	−0.001%	$4K	$41K	5x	as long as short
Binance CFXUSDT	+0.0100%	8h	0.05292	−0.032%	$5.3M	$9.5M	75x	as long as short
Bybit CFXUSDTlong	+0.0100%	8h	0.05294	long leg	$2.5M	$1.4M	25x
OKX CFX-USDT-SWAP	+0.0100%	8h	0.05289	−0.094%	$2.5M	$5.4M	20x	as long as short
Gate CFX_USDT	+0.0100%	8h	0.05294	0.000%	$1.1M	$2.3M	50x	as long as short
MEXC CFX_USDT	+0.0100%	8h	0.05292	−0.038%	$3.4M	$1.8M	125x	as long as short
KuCoin CFXUSDTM	+0.0100%	8h	0.05292	−0.038%	$799K	$289K	75x	as long as short
Bitget CFXUSDT	+0.0100%	8h	0.05289	−0.094%	$1.5M	$1.3M	75x	as long as short
BingX CFX-USDT	+0.0100%	8h	0.05292	−0.038%	—	$22.6M	—	as long as short
Variational Omni CFX	+0.0100%	8h	0.05289	−0.094%	$35K	$51K	—	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT CFX_USDT_Perp	+0.0100%	8h	0.05294	−0.009%	$501K	$1.5M	10x	as long as short
Extended CFX-USD	+0.0104%	1h	0.05290	−0.073%	$5K	$258K	10x	as long as short
Coinbase International CFX-PERP-INTXshort	+0.0272%	1h	0.05293	−0.019%	$36K	$110K	50x
Hyperliquid CFX	+0.0552%	1h	0.05302	+0.145%	$3.2M	$394K	5x	as long as short
Kraken Futures PF_CFXUSD	+0.1069%	1h	0.05296	+0.046%	$32K	$10K	20x	as long as short
Deribit CFX_USDC-PERPETUAL	+0.2018%	1h	0.05302	+0.151%	$140	$29	10x	as long as short