Funding arb · Price arb /

RUNE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0580%/8h= +63.5% APRpaid last 24h +0.066%

Price spread now: Coinbase International against Bybit+1.155%7-day average — · you sell dearer than you buy

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

Long on Bybit Short on Coinbase International

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

Both sides work for this trade now. Funding pays +$17 a day on $10k at the current rate, and Coinbase International is 1.155% dearer against Bybit than usual: you sell high and buy low: +$115 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit RUNEUSDT	0.6322	0.0100	pay 0.0100% / 8h	3h 22m	$2.8M	$2.8M	75x
Short	Coinbase International RUNE-PERP-INTX	0.6395	0.0680	get 0.0085% / 1h	22m 08s	$38K	$30K	25x

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 +1.155%Rate

Funding earned: $121.8
Price spread: +1.155% → 0.000%: $115.47
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $216.27
Costs to cover: 0.210%
Break-even: from the start

Slippage unknown: Bybit: live order book, 5 min ago; Coinbase International: no order-book sample. 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 Bybit live order book, 5 min ago	3.16 bp	35.1 bp −$35	71.8 bp −$718	doesn't fit	doesn't fit
Sell Coinbase International no order-book sample	—	—	—	—	—

Coinbase International: 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.

RUNE 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
Deribit RUNE_USDC-PERPETUAL	0.0000%	1h	0.6326	+0.063%	—	—	10x	as long as short
Injective RUNE/USDC PERP	+0.0033%	1h	0.6155	−2.642%	$7	$14	12x	as long as short
BloFin RUNE-USDT	+0.0082%	8h	0.6333	+0.174%	$438K	$195K	75x	as long as short
Binance RUNEUSDT	+0.0100%	8h	0.6321	−0.016%	$4.8M	$15.9M	75x	as long as short
Bybit RUNEUSDTlong	+0.0100%	8h	0.6322	long leg	$2.8M	$2.8M	75x
Gate RUNE_USDT	+0.0100%	8h	0.6327	+0.079%	$627K	$369K	50x	as long as short
MEXC RUNE_USDT	+0.0100%	8h	0.6322	0.000%	$3.4M	$3.5M	125x	as long as short
KuCoin RUNEUSDTM	+0.0100%	8h	0.6328	+0.095%	$976K	$360K	50x	as long as short
Bitget RUNEUSDT	+0.0100%	8h	0.6322	0.000%	$1.5M	$776K	50x	as long as short
BingX RUNE-USDT	+0.0100%	8h	0.6319	−0.047%	—	$58.9M	—	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni RUNE	+0.0100%	8h	0.6331	+0.140%	$186K	$67K	—	as long as short
Extended RUNE-USD	+0.0104%	1h	0.6319	−0.043%	$4K	$169K	10x	as long as short
dYdX RUNE-USD	+0.0369%	1h	0.6324	+0.038%	$27K	$32K	5x	as long as short
Coinbase International RUNE-PERP-INTXshort	+0.0680%	1h	0.6395	+1.155%	$38K	$30K	25x
Kraken Futures PF_RUNEUSD	+0.0955%	1h	0.6325	+0.049%	$165K	$310K	20x	as long as short
Hyperliquid RUNE	+0.1613%	1h	0.6328	+0.093%	$1.8M	$1.1M	5x	as long as short