Funding arb · Price arb /

COTI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0496%/8h= +54.3% APRpaid last 24h −0.024%

Price spread now: Bybit against BloFin−0.767%382s7-day average +0.034% · you buy dearer than you sell

Net, funding: paid 7d − costs−$162as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1681.680% of the position

Long on BloFin Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.061%+$6 on $10k

Price spread, last 3 days (all we have)+0.478%+$48 · spread now −0.767%, 7d avg +0.034%

Together, before fees+0.539%+$54 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bybit is 0.801% cheaper against BloFin than usual: you would sell low and buy high (spread −0.767% now, against its 7-day average of +0.034%). If the spread goes back, that is −$80 on $10k: about 5.4 days of funding at the current rate (+$15 a day). At the pace of the last 7 days (+0.061% in total) that is about 3 months. The two prices were read 382 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.061% in total (about 3.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin COTI-USDT	0.01487	−0.0396	get 0.0198% / 4h	2h 42m	$425K	$533K	50x
Short	Bybit COTIUSDT	0.01476	0.0100	get 0.0100% / 8h	6h 42m	$3.8M	$8.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against BloFin. 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 BloFinbpFee BybitbpOrdersPrice spread, now −0.767%Rate

Funding earned: $104.1
Price spread: −0.767% → +0.034%: −$80.06
Slippage, 4 orders: −$145
Fee BloFin: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$143.96
Costs to cover: 1.680%
Break-even: 16.7 days

Slippage from BloFin: live order book, 23 min ago; Bybit: live order book, 5 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 BloFin live order book, 23 min ago	5.12 bp	18.3 bp −$18	55.9 bp −$559	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	2.02 bp	51.0 bp −$51	144.1 bp −$1,441	doesn't fit	doesn't fit

COTI on 10 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 COTIUSDT	−0.0821%	4h	0.01479	−0.538%	$10K	$300K	5x	as long as short
Binance COTIUSDT	−0.0766%	4h	0.01473	−0.928%	$7.7M	$38.7M	50x	as long as short
MEXC COTI_USDT	−0.0744%	4h	0.01479	−0.511%	$12.4M	$2.1M	50x	as long as short
BloFin COTI-USDTlong	−0.0396%	4h	0.01487	long leg	$425K	$533K	50x
Gate COTI_USDT	+0.0024%	4h	0.01478	−0.605%	$432K	$977K	25x	as long as short
Bybit COTIUSDTshort	+0.0100%	8h	0.01476	−0.767%	$3.8M	$8.6M	50x
KuCoin COTIUSDTM	+0.0100%	4h	0.01482	−0.336%	$1.9M	$2.0M	50x	as long as short
Bitget COTIUSDT	+0.0100%	4h	0.01479	−0.538%	$3.3M	$2.8M	50x	as long as short
BingX COTI-USDT	+0.0100%	4h	0.01473	−0.915%	—	$1.6M	—	as long as short
Variational Omni COTI	+0.0100%	8h	0.01488	+0.055%	$30K	$37K	—	as long as short