Funding arb · Price arb /

DOT

all DOT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0532%/8h= −58.3% APRpaid last 24h −0.087%

Price spread now: Coinbase International against Bybit+0.151%7-day average +0.057% · you sell dearer than you buy

Net, funding: paid 7d − costs−$83as in the Funding arb table

Net, price: spread back to 7d avg − costs−$47as in the Price arb table

costs, in and out, $10k−$570.567% 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−0.268%−$27 on $10k

Price spread, last 4 days (all we have)−0.136%−$14 · spread now +0.151%, 7d avg +0.057%

Together, before fees−0.404%−$40 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 0.093% dearer against Bybit than usual: you sell high and buy low (spread +0.151% now, against its 7-day average of +0.057%): +$9 on $10k if it goes back. Holding the pair costs −$16 a day in funding at the current rate, which eats that in about 14 hours. At the pace of the last 7 days (−0.268% in total) that is about 2.4 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.268% in total (about -14.0% 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	Bybit DOTUSDT	1.1942	0.0100	pay 0.0100% / 8h	3h 49m	$24.5M	$18.8M	75x
Short	Coinbase International DOT-PERP-INTX	1.1960	−0.0432	pay 0.0054% / 1h	49m 59s	$197K	$1.9M	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 +0.151%Rate

Funding earned: −$111.72
Price spread: +0.151% → +0.057%: $9.35
Slippage, 4 orders: −$35.69
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$159.06
Costs to cover: 0.567%
Break-even: never at this rate

Slippage from Bybit: live order book, 4 min ago; Coinbase International: live order book, 4 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, 4 min ago	0.42 bp	10.6 bp −$11	20.4 bp −$204	72.9 bp −$7,290	doesn't fit
Sell Coinbase International live order book, 4 min ago	8.35 bp	13.3 bp −$13	18.0 bp −$180	doesn't fit	doesn't fit

DOT on 29 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
Deribit DOT_USDC-PERPETUAL	−0.2338%	1h	1.1948	+0.050%	$227K	$121K	50x	as long as short
Coinbase International DOT-PERP-INTXshort	−0.0432%	1h	1.1960	+0.151%	$197K	$1.9M	50x
Reya DOTRUSDPERP	−0.0166%	1h	1.1946	+0.030%	$259	—	—	as long as short
dYdX DOT-USD	0.0000%	1h	1.1958	+0.131%	$144K	$6K	10x	as long as short
gTrade (Gains Network) DOT/USD	L 0.0000% / S +0.0004%	1h	1.1948	+0.050%	$3K	—	150x	as long as short
Injective DOT/USDC PERP	+0.0033%	1h	1.2020	+0.653%	$328	$121K	12x	as long as short
Kraken Futures PF_DOTUSD	+0.0057%	1h	1.1948	+0.053%	$4.4M	$1.4M	50x	as long as short
Lighter DOT	+0.0096%	1h	1.1954	+0.105%	$270K	$626K	10x	as long as short
Hyperliquid DOT	+0.0100%	1h	1.1951	+0.079%	$5.4M	$3.3M	10x	as long as short
Aster DOTUSDT	+0.0100%	8h	1.1948	+0.053%	$852K	$593K	50x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance DOTUSDT	+0.0100%	8h	1.1944	+0.017%	$44.0M	$84.9M	75x	as long as short
Bybit DOTUSDTlong	+0.0100%	8h	1.1942	long leg	$24.5M	$18.8M	75x
OKX DOT-USDT-SWAP	+0.0100%	8h	1.1940	−0.017%	$9.5M	$24.4M	50x	as long as short
Gate DOT_USDT	+0.0100%	8h	1.1950	+0.067%	$6.7M	$11.9M	75x	as long as short
MEXC DOT_USDT	+0.0100%	8h	1.1945	+0.025%	$32.0M	$54.1M	300x	as long as short
KuCoin DOTUSDTM	+0.0100%	8h	1.1950	+0.067%	$6.5M	$9.2M	75x	as long as short
Bitget DOTUSDT	+0.0100%	8h	1.1940	−0.017%	$22.8M	$14.6M	75x	as long as short
BingX DOT-USDT	+0.0100%	8h	1.1946	+0.033%	—	$29.6M	—	as long as short
Backpack DOT_USDC_PERP	+0.0100%	1h	1.1942	0.000%	$93K	$130K	10x	as long as short
Variational Omni DOT	+0.0100%	8h	1.1985	+0.363%	$545K	$58K	—	as long as short
edgeX DOTUSDC	+0.0100%	4h	1.1978	+0.304%	$35K	$335K	20x	as long as short
GRVT DOT_USDT_Perp	+0.0100%	8h	1.1980	+0.321%	$238K	$407K	10x	as long as short
Orderly PERP_DOT_USDC	+0.0100%	8h	1.1940	−0.017%	$8K	$21K	10x	as long as short
SunX DOT-USDT	+0.0100%	8h	1.1960	+0.151%	$1K	$1.3M	20x	as long as short
HTX DOT-USDT	+0.0100%	8h	1.1972	+0.251%	$260K	$254K	75x	as long as short
Extended DOT-USD	+0.0104%	1h	1.1937	−0.044%	$14K	$305K	25x	as long as short
Phemex DOTUSDT	+0.0115%	8h	1.1960	+0.151%	$2.4M	$2.2M	50x	as long as short
BloFin DOT-USDT	+0.0220%	8h	1.1989	+0.394%	$2.2M	$898K	75x	as long as short
GMX DOT/USD [WBTC.b-USDC]	L +0.0303% / S −0.1012%	1h	1.1950	+0.068%	$22K	—	100x	as long as short