Funding arb · Price arb /

S

all S markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.001%

Price spread now: Binance against Bybit+0.212%7-day average +0.076% · you sell dearer than you buy

Net, funding: paid 7d − costs−$97as in the Funding arb table

Net, price: spread back to 7d avg − costs−$75as in the Price arb table

costs, in and out, $10k−$890.887% of the position

Long on Bybit Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.079%−$8 on $10k

Price spread, last 7 days−0.130%−$13 · spread now +0.212%, 7d avg +0.076%

Together, before fees−0.209%−$21 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Binance is 0.135% dearer against Bybit than usual: you sell high and buy low, +$14 on $10k if it goes back to its 7-day average of +0.076%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit SUSDT	0.03899	0.0100	pay 0.0050% / 4h	1h 19m	$5.6M	$5.5M	50x
Short	Binance SUSDT	0.03907	0.0100	get 0.0050% / 4h	1h 19m	$5.3M	$18.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.212%Rate

Funding earned: $0
Price spread: +0.212% → +0.076%: $13.52
Slippage, 4 orders: −$67.69
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Binance: 5 bp × 2 orders: −$10
Net: −$75.17
Costs to cover: 0.887%
Break-even: never at this rate

Slippage from Bybit: live order book, 4 min ago; Binance: live order book, 7 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	2.56 bp	24.3 bp −$24	79.6 bp −$796	doesn't fit	doesn't fit
Sell Binance live order book, 7 min ago	2.56 bp	17.2 bp −$17	56.0 bp −$560	doesn't fit	doesn't fit

S on 25 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
Kraken Futures PF_SUSD	−0.1600%	1h	0.03906	+0.187%	$33K	$26K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1576%	1h	0.03826	−1.872%	$47K	$5K	25x	as long as short
Variational Omni S	−0.0870%	4h	0.03900	+0.026%	$607K	$31K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0197% / S +0.0190%	1h	0.03912	+0.326%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03908	+0.224%	$4	—	15x	as long as short
01 Exchange SUSD	−0.0056%	1h	0.03840	−1.513%	$23K	$2K	5x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03910	+0.276%	$603	—	150x	as long as short
Orderly PERP_S_USDC	+0.0029%	4h	0.03906	+0.180%	$99K	$344K	10x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+5.155%	$2K	$37K	12x	as long as short
Lighter S	+0.0096%	1h	0.03913	+0.359%	$164K	$223K	5x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid S	+0.0100%	1h	0.03909	+0.256%	$981K	$716K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.03913	+0.367%	$43K	$212K	10x	as long as short
Binance SUSDTshort	+0.0100%	4h	0.03907	+0.212%	$5.3M	$18.5M	75x
Bybit SUSDTlong	+0.0100%	4h	0.03899	long leg	$5.6M	$5.5M	50x
OKX S-USDT-SWAP	+0.0100%	4h	0.03905	+0.154%	$978K	$5.6M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.03903	+0.103%	$319K	$265K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03909	+0.256%	$3.5M	$2.3M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03906	+0.180%	$1.8M	$3.0M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03909	+0.256%	$1.2M	$2.6M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03907	+0.205%	—	$6.8M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03910	+0.282%	$25K	$460K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03907	+0.211%	$219K	$877K	10x	as long as short
Deribit S_USDC-PERPETUAL	+0.0262%	1h	0.03911	+0.308%	$66K	$10K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03906	+0.180%	$267K	$126K	75x	as long as short
Backpack S_USDC_PERP	+0.0484%	1h	0.03920	+0.539%	$114K	$301K	5x	as long as short