Funding arb · Price arb /

FIL

all FIL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0158%/8h= −17.3% APRpaid last 24h −0.008%

Price spread now: Bybit against gTrade (Gains Network)+0.028%52s7-day average — · you sell dearer than you buy

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

Long on gTrade (Gains Network)Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 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

The price spread pays, funding is against you. Bybit is 0.028% dearer against gTrade (Gains Network) than usual: you sell high and buy low (spread +0.028% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 14 hours. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) FIL/USD	0.9762	L −0.0004% / S +0.0006%	get 0.0001% / 1h	32m 38s	$24K	—	150x
Short	Bybit FILUSDT	0.9765	−0.0162	pay 0.0162% / 8h	3h 32m	$15.8M	$16.9M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee BybitbpOrdersPrice spread, now +0.028%Rate

Funding earned: −$33.08
Price spread: +0.028% → 0.000%: $2.76
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$51.33
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: gTrade (Gains Network): no order-book sample; Bybit: live order book, 1 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell Bybit live order book, 1 min ago	0.51 bp	8.3 bp −$8	32.2 bp −$322	319.9 bp −$32.0K	doesn't fit

gTrade (Gains Network): 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.

FIL 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 FIL_USDC-PERPETUAL	−0.0773%	1h	0.9764	+0.017%	$168K	$22K	25x	as long as short
Coinbase International FIL-PERP-INTX	−0.0352%	1h	0.9759	−0.034%	$324K	$1.9M	50x	as long as short
Injective FIL/USDC PERP	−0.0196%	1h	0.9658	−1.068%	$2K	$118K	12x	as long as short
Bybit FILUSDTshort	−0.0162%	8h	0.9765	+0.028%	$15.8M	$16.9M	25x
Variational Omni FIL	−0.0114%	8h	0.9744	−0.191%	$428K	$271K	—	as long as short
Lighter FIL	−0.0056%	1h	0.9762	−0.002%	$156K	$359K	5x	as long as short
gTrade (Gains Network) FIL/USDlong	L −0.0004% / S +0.0006%	1h	0.9762	long leg	$24K	—	150x
dYdX FIL-USD	0.0000%	1h	0.9778	+0.158%	$57K	$2K	10x	as long as short
Bitget FILUSDT	+0.0005%	8h	0.9761	−0.013%	$10.7M	$22.7M	75x	as long as short
OKX FIL-USDT-SWAP	+0.0039%	8h	0.9769	+0.069%	$18.0M	$98.7M	50x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin FILUSDTM	+0.0066%	8h	0.9774	+0.120%	$7.3M	$7.3M	50x	as long as short
Hyperliquid FIL	+0.0100%	1h	0.9767	+0.052%	$8.6M	$9.3M	5x	as long as short
Aster FILUSDT	+0.0100%	8h	0.9775	+0.129%	$484K	$554K	20x	as long as short
Binance FILUSDT	+0.0100%	8h	0.9762	−0.003%	$55.9M	$178.9M	75x	as long as short
Gate FIL_USDT	+0.0100%	8h	0.9767	+0.048%	$7.8M	$16.9M	50x	as long as short
MEXC FIL_USDC	+0.0100%	8h	0.9767	+0.048%	$249K	$104K	50x	as long as short
BingX FIL-USDC	+0.0100%	8h	0.9766	+0.038%	—	$6.5M	—	as long as short
edgeX FILUSDC	+0.0100%	4h	0.9742	−0.205%	$45K	$293K	10x	as long as short
GRVT FIL_USDT_Perp	+0.0100%	8h	0.9748	−0.151%	$282K	$772K	10x	as long as short
ApeX Omni FILUSDT	+0.0100%	1h	0.9750	−0.126%	$42K	$197K	50x	as long as short
Orderly PERP_FIL_USDC_mythos	+0.0100%	4h	0.9771	+0.086%	$5K	—	10x	as long as short
SunX FIL-USDT	+0.0100%	8h	0.9760	−0.024%	$2K	$1.1M	20x	as long as short
SoDEX FIL-USD	+0.0100%	1h	0.9755	−0.075%	$469	$11K	5x	as long as short
HTX FIL-USDT	+0.0100%	8h	0.9772	+0.099%	$620K	$5.7M	75x	as long as short
Phemex FILUSDT	+0.0100%	8h	0.9770	+0.079%	$1.1M	$2.2M	50x	as long as short
Extended FIL-USD	+0.0104%	1h	0.9765	+0.026%	$682K	$2.4M	10x	as long as short
Kraken Futures PF_FILUSD	+0.0136%	1h	0.9762	−0.003%	$1.4M	$2.3M	50x	as long as short
BloFin FIL-USDT	+0.0220%	8h	0.9754	−0.085%	$2.6M	$587K	75x	as long as short
GMX FIL/USD [WBTC.b-USDC]	L +0.0605% / S −0.0671%	1h	0.9762	−0.001%	$170K	—	100x	as long as short