Funding arb · Price arb /

COIN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.022%

Price spread now: Bybit against SoDEX+0.126%7-day average — · you sell dearer than you buy

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

Long on SoDEX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 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 0.126% dearer against SoDEX than usual: you sell high and buy low (spread +0.126% now, against zero (this spread has no 7-day history yet)): +$13 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 8.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX COIN-USD	198.55	0.0050	pay 0.0006% / 1h	4m 40s	$91	$3K	10x
Short	Bybit COINUSDT	198.80	0	get 0.0000% / 8h	6h 04m	$4.7M	$5.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against SoDEX. 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 SoDEXbpFee BybitbpOrdersPrice spread, now +0.126%Rate

Funding earned: −$10.5
Price spread: +0.126% → 0.000%: $12.59
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$16.91
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: SoDEX: 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 SoDEX no order-book sample	—	—	—	—	—
Sell Bybit live order book, 1 min ago	2.26 bp	16.2 bp −$16	40.0 bp −$400	174.5 bp −$17.4K	doesn't fit

SoDEX: 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.

COIN on 26 exchanges

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
Injective COIN/USDC PERP	−0.0440%	1h	197.52	−0.519%	$17K	$224K	30x	as long as short
Aster COINUSDT	0.0000%	8h	198.50	−0.027%	$346K	$868K	20x	as long as short
Extended COIN_24_5-USD	0.0000%	1h	198.63	+0.039%	$105K	$851K	10x	as long as short
Binance COINUSDT	0.0000%	8h	198.78	+0.116%	$14.6M	$76.2M	20x	as long as short
Bybit COINUSDTshort	0.0000%	8h	198.80	+0.126%	$4.7M	$5.5M	50x
OKX COIN-USDT-SWAP	0.0000%	8h	198.80	+0.126%	$3.1M	$4.4M	20x	as long as short
Gate COIN_USDT	0.0000%	8h	198.67	+0.060%	$1.2M	$6.7M	50x	as long as short
Bitget COINUSDT	0.0000%	8h	198.82	+0.136%	$6.4M	$9.8M	20x	as long as short
Variational Omni COIN	0.0000%	8h	198.78	+0.115%	$769K	$921K	—	as long as short
GRVT COIN_USDT_Perp	0.0000%	8h	198.24	−0.154%	$12K	$3.2M	10x	as long as short

Show all 26 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter COIN	+0.0032%	1h	198.72	+0.083%	$347K	$2.0M	10x	as long as short
Lighter RH COIN	+0.0032%	1h	198.74	+0.096%	$483K	$1.2M	10x	as long as short
QFEX COIN-USD	+0.0036%	1h	198.87	+0.161%	$1.3M	$2.6M	10x	as long as short
Arcus COIN-USD	+0.0040%	1h	198.84	+0.146%	$17K	$28K	5x	as long as short
Vest COIN-USD-PERP	+0.0046%	1h	198.64	+0.045%	—	$293K	25x	as long as short
tradeXYZ xyz:COIN	+0.0050%	1h	198.69	+0.071%	$14.8M	$11.6M	10x	as long as short
Polymarket Perps COIN-USD	+0.0050%	1h	198.72	+0.086%	$136K	$1.3M	10x	as long as short
SoDEX COIN-USDlong	+0.0050%	1h	198.55	long leg	$91	$3K	10x
Ondo Perps COIN-USD.P	+0.0050%	1h	198.51	−0.020%	$343K	$2.1M	10x	as long as short
KuCoin COINUSDTM	+0.0100%	8h	198.58	+0.015%	$936K	$238K	20x	as long as short
ApeX Omni COINUSDT	+0.0100%	1h	198.47	−0.040%	$89K	$272K	50x	as long as short
Orderly PERP_COIN_USDC_mythos	+0.0100%	8h	198.65	+0.050%	$574	$4K	10x	as long as short
Aevo COIN-PERP	+0.0104%	1h	198.65	+0.050%	$117	—	10x	as long as short
BloFin COIN-USDT	+0.0120%	8h	198.57	+0.010%	$194K	$491K	20x	as long as short
Phoenix COIN	+0.0121%	1h	198.71	+0.081%	$5K	$257K	10x	as long as short
edgeX COINUSDC	+0.0796%	4h	198.12	−0.216%	$51K	$294K	10x	as long as short