Funding arb · Price arb /

TUT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Binance against Bybit−0.041%7-day average −0.064% · you buy dearer than you sell

Net, funding: paid 7d − costs−$173as in the Funding arb table

Net, price: spread back to 7d avg − costs−$215as in the Price arb table

costs, in and out, $10k−$2182.177% of the position

Long on Bybit Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.445%+$45 on $10k

Price spread, last 7 days+0.004%$0 · spread now −0.041%, 7d avg −0.064%

Together, before fees+0.450%+$45 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 0.023% dearer against Bybit than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of −0.064%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit TUTUSDT	0.02279	0.0100	pay 0.0050% / 4h	3h 32m	$1.5M	$1.1M	5x
Short	Binance TUTUSDT	0.02278	0.0100	get 0.0050% / 4h	3h 32m	$6.7M	$12.3M	10x

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 −0.041%Rate

Funding earned: $0
Price spread: −0.041% → −0.064%: $2.28
Slippage, 4 orders: −$196.75
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Binance: 5 bp × 2 orders: −$10
Net: −$215.46
Costs to cover: 2.177%
Break-even: never at this rate

Slippage from Bybit: live order book, 3 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, 3 min ago	3.72 bp	87.5 bp −$88	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 7 min ago	2.19 bp	21.8 bp −$22	83.5 bp −$835	doesn't fit	doesn't fit

TUT 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 TUTUSDT	−0.0156%	4h	0.02276	−0.111%	$241K	$45K	10x	as long as short
Binance TUTUSDTshort	+0.0100%	4h	0.02278	−0.041%	$6.7M	$12.3M	10x
Bybit TUTUSDTlong	+0.0100%	4h	0.02279	long leg	$1.5M	$1.1M	5x
Gate TUT_USDT	+0.0100%	4h	0.02276	−0.114%	$684K	$731K	10x	as long as short
MEXC TUT_USDT	+0.0100%	4h	0.02275	−0.176%	$2.2M	$581K	100x	as long as short
KuCoin TUTUSDTM	+0.0100%	4h	0.02276	−0.132%	$1.8M	$564K	10x	as long as short
Bitget TUTUSDT	+0.0100%	4h	0.02277	−0.088%	$6.3M	$1.4M	10x	as long as short
BingX TUT-USDT	+0.0100%	4h	0.02277	−0.088%	—	$2.3M	—	as long as short
HTX TUT-USDT	+0.0100%	4h	0.02273	−0.263%	$40K	$224K	10x	as long as short
Extended TUT-USD	+0.0104%	1h	0.02276	−0.123%	$410	—	5x	as long as short