Funding arb · Price arb /

AMZN

RWAall AMZN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0198%/8h= −21.7% APRpaid last 24h −0.057%

Price spread now: Deribit against Bybit−0.139%7-day average −0.065% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$49as in the Price arb table

costs, in and out, $10k−$420.417% of the position

Long on Bybit Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.011%+$1 on $10k

Price spread, last 3 days (all we have)+0.128%+$13 · spread now −0.139%, 7d avg −0.065%

Together, before fees+0.139%+$14 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Deribit is 0.074% cheaper against Bybit than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.065%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 5 days it paid 0.011% in total (about 0.8% 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 AMZNUSDT	259.43	0.0198	pay 0.0198% / 8h	7h 21m	$3.7M	$3.2M	100x
Short	Deribit AMZN_USDC-PERPETUAL	259.07	0	get 0.0000% / 1h	21m 46s	$27K	$173K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.139%Rate

Funding earned: −$41.66
Price spread: −0.139% → −0.065%: −$7.36
Slippage, 4 orders: −$23.67
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$90.69
Costs to cover: 0.417%
Break-even: never at this rate

Slippage from Bybit: live order book, 6 min ago; Deribit: live order book, 52 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, 6 min ago	2.89 bp	13.6 bp −$14	20.9 bp −$209	doesn't fit	doesn't fit
Sell Deribit live order book, 52 min ago	0.19 bp	3.7 bp −$4	7.0 bp −$70	doesn't fit	doesn't fit

AMZN on 30 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 AMZNUSDT	0.0000%	8h	259.14	−0.113%	$203K	$211K	20x	as long as short
Gate AMZN_USDT	0.0000%	8h	259.10	−0.127%	$766K	$2.6M	100x	as long as short
Deribit AMZN_USDC-PERPETUALshort	0.0000%	1h	259.07	−0.139%	$27K	$173K	10x
Lighter RH AMZN	+0.0032%	1h	259.34	−0.035%	$720K	$1.5M	10x	as long as short
Vest AMZN-USD-PERP	+0.0046%	1h	259.08	−0.135%	—	$104K	25x	as long as short
Polymarket Perps AMZN-USD	+0.0050%	1h	259.11	−0.123%	$309K	$289K	10x	as long as short
SoDEX AMZN-USD	+0.0050%	1h	259.23	−0.077%	$620	$5K	10x	as long as short
Ondo Perps AMZN-USD.P	+0.0050%	1h	259.01	−0.162%	$1.3M	$1.2M	10x	as long as short
QFEX AMZN-USD	+0.0055%	1h	259.26	−0.066%	$1.4M	$4.3M	10x	as long as short
Coinbase International AMZN-PERP-INTX	+0.0072%	1h	259.24	−0.073%	$939K	$2.4M	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT AMZN_USDT_Perp	+0.0077%	8h	259.42	−0.004%	$12K	$1.8M	10x	as long as short
KuCoin AMZNUSDTM	+0.0100%	8h	259.20	−0.089%	$1.5M	$605K	20x	as long as short
ApeX Omni AMZNUSDT	+0.0100%	1h	259.27	−0.062%	$93K	$129K	50x	as long as short
Orderly PERP_AMZN_USDC_mythos	+0.0100%	8h	259.28	−0.058%	$1K	$320	10x	as long as short
Hotstuff AMZN-PERP	+0.0104%	1h	259.21	−0.085%	$33K	—	20x	as long as short
Aevo AMZN-PERP	+0.0104%	1h	259.20	−0.087%	$14K	$510	10x	as long as short
edgeX AMZNUSDC	+0.0113%	4h	259.35	−0.031%	$28K	$247K	10x	as long as short
OKX AMZN-USDT-SWAP	+0.0124%	8h	259.31	−0.046%	$2.9M	$4.5M	20x	as long as short
tradeXYZ xyz:AMZN	+0.0129%	1h	259.20	−0.089%	$28.6M	$10.6M	20x	as long as short
Nado AMZN-PERP	+0.0196%	1h	259.12	−0.121%	$414K	$122K	20x	as long as short
Bybit AMZNUSDTlong	+0.0198%	8h	259.43	long leg	$3.7M	$3.2M	100x
Injective AMZN/USDC PERP	+0.0220%	1h	259.14	−0.112%	$75K	$27K	30x	as long as short
Lighter AMZN	+0.0224%	1h	259.35	−0.031%	$826K	$1.1M	20x	as long as short
Bitget AMZNUSDT	+0.0235%	8h	259.35	−0.031%	$4.8M	$3.8M	100x	as long as short
Arcus AMZN-USD	+0.0254%	1h	259.24	−0.073%	$197K	$241K	10x	as long as short
Variational Omni AMZN	+0.0269%	8h	259.43	−0.002%	$1.8M	$1.1M	—	as long as short
Binance AMZNUSDT	+0.0270%	8h	259.34	−0.036%	$16.1M	$29.8M	20x	as long as short
Extended AMZN_24_5-USD	+0.0272%	1h	259.23	−0.078%	$498K	$2.9M	10x	as long as short
Phoenix AMZN	+0.0339%	1h	259.38	−0.019%	$5K	$98K	20x	as long as short
BloFin AMZN-USDT	+0.0391%	8h	259.28	−0.058%	$177K	$215K	20x	as long as short