Funding arb · Price arb /

CXMT

RWAall CXMT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.2722%/8h= +298.0% APRpaid last 24h +0.083%

Price spread now: SoDEX against Bybit−0.041%7-day average −0.082% · 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−$82as in the Price arb table

costs, in and out, $10k−$860.860% of the position

Long on Bybit Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.079%+$8 on $10k

Price spread, last 4 days (all we have)−0.066%−$7 · spread now −0.041%, 7d avg −0.082%

Together, before fees+0.012%+$1 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$82 a day on $10k at the current rate, and SoDEX is 0.041% dearer against Bybit than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.082%.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.079% in total (about 8.6% 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 CXMTUSDT	8.6330	−0.4321	get 0.4321% / 8h	3h 40m	$1.0M	$1.1M	20x
Short	SoDEX CXMT-USD	8.6295	−0.1599	pay 0.0200% / 1h	40m 15s	$229K	$9K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.041%Rate

Funding earned: $571.6
Price spread: −0.041% → −0.082%: $4.13
Slippage, 4 orders: −$66.96
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee SoDEX: 4 bp × 2 orders: −$8
Net: $489.77
Costs to cover: 0.860%
Break-even: 1.0 days

Slippage from Bybit: live order book, 5 min ago; SoDEX: live order book, 13 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, 5 min ago	2.32 bp	17.5 bp −$18	191.9 bp −$1,919	doesn't fit	doesn't fit
Sell SoDEX live order book, 13 min ago	1.56 bp	28.3 bp −$28	doesn't fit	doesn't fit	doesn't fit

CXMT 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
Binance CXMTUSDT	−0.4467%	4h	8.6364	+0.039%	$4.5M	$8.8M	20x	as long as short
Bybit CXMTUSDTlong	−0.4321%	8h	8.6330	long leg	$1.0M	$1.1M	20x
Ondo Perps CXMT-USD.P	−0.3460%	1h	8.6384	+0.063%	$29K	$33K	10x	as long as short
OKX CXMT-USDT-SWAP	−0.2793%	8h	8.6300	−0.035%	$1.4M	$5.2M	20x	as long as short
tradeXYZ xyz:CXMT	−0.2535%	1h	8.6244	−0.100%	$56.3M	$9.1M	10x	as long as short
Bitget CXMTUSDT	−0.2493%	8h	8.6330	0.000%	$602K	$823K	20x	as long as short
Gate CXMT_USDT	−0.2416%	1h	8.6240	−0.104%	$5.8M	$13.2M	50x	as long as short
Polymarket Perps CXMT-USD	−0.2409%	1h	8.6262	−0.079%	$10K	$47K	10x	as long as short
Aster CXMTUSDT	−0.2052%	8h	8.6659	+0.381%	$139K	$100K	20x	as long as short
SoDEX CXMT-USDshort	−0.1599%	1h	8.6295	−0.041%	$229K	$9K	5x

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter CXMT	−0.1072%	1h	8.6353	+0.027%	$102K	$18K	5x	as long as short
ApeX Omni CXMTUSDT	−0.0448%	1h	8.6700	+0.429%	$8K	$249K	50x	as long as short
Popdex CXMTUSDT	−0.0240%	1h	8.6380	+0.058%	$1K	$115K	20x	as long as short
edgeX CXMTUSDC	−0.0014%	4h	8.6263	−0.078%	$436K	$241K	10x	as long as short
SunX CXMT-USDT	0.0000%	4h	8.6421	+0.105%	$85	$2.4M	10x	as long as short
HTX CXMT-USDT	0.0000%	4h	8.6981	+0.754%	$32K	$37K	10x	as long as short