Funding arb · Price arb /

TTWO

RWAall TTWO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0978%/8h= −107.1% APRpaid last 24h −0.297%

Price spread now: Bybit against Paragon+0.141%53s7-day average +0.059% · you sell dearer than you buy

Net, funding: paid 7d − costs−$355as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1641.637% of the position

Long on Paragon Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−1.910%−$191 on $10k

Price spread, last 7 days+0.099%+$10 · spread now +0.141%, 7d avg +0.059%

Together, before fees−1.810%−$181 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.083% dearer against Paragon than usual: you sell high and buy low (spread +0.141% now, against its 7-day average of +0.059%): +$8 on $10k if it goes back. Holding the pair costs −$29 a day in funding at the current rate, which eats that in about 7 hours. The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paragon para:TTWO	210.37	0.0978	pay 0.0122% / 1h	31m 47s	$1.1M	$156K	10x
Short	Bybit TTWOUSDT	210.67	0	get 0.0000% / 8h	31m 47s	$1.8M	$210K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Paragon. 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 ParagonbpFee BybitbpOrdersPrice spread, now +0.141%Rate

Funding earned: −$205.45
Price spread: +0.141% → +0.059%: $8.26
Slippage, 4 orders: −$142.75
Fee Paragon: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$360.93
Costs to cover: 1.637%
Break-even: never at this rate

Slippage from Paragon: live order book, 5 min ago; Bybit: live order book, 5 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 Paragon live order book, 5 min ago	16.16 bp	21.2 bp −$21	140.1 bp −$1,401	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	5.93 bp	72.4 bp −$72	237.8 bp −$2,378	doesn't fit	doesn't fit

TTWO on 13 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 TTWOUSDT	0.0000%	8h	210.59	+0.102%	$2.3M	$964K	25x	as long as short
Bybit TTWOUSDTshort	0.0000%	8h	210.67	+0.141%	$1.8M	$210K	25x
OKX TTWO-USDT-SWAP	0.0000%	8h	210.80	+0.203%	$326K	$81K	25x	as long as short
Gate TTWO_USDT	0.0000%	8h	210.50	+0.061%	$715K	$12K	20x	as long as short
Bitget TTWOUSDT	0.0000%	8h	210.53	+0.075%	$895K	$94K	20x	as long as short
Variational Omni TTWO	0.0000%	8h	210.55	+0.086%	$81K	$56K	—	as long as short
QFEX TTWO-USD	+0.0024%	1h	210.55	+0.084%	$1.2M	$2.7M	10x	as long as short
Lighter TTWO	+0.0032%	1h	209.66	−0.339%	—	—	5x	as long as short
Extended TTWO-USD	+0.0040%	1h	209.89	−0.229%	$75K	$2K	10x	as long as short
KuCoin TTWOUSDTM	+0.0100%	8h	210.25	−0.058%	$94K	$982K	20x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX TTWO-USDT	+0.0100%	8h	210.60	+0.108%	$3K	$39K	10x	as long as short
Ondo Perps TTWO-USD.P	+0.0294%	1h	210.28	−0.044%	$328K	$207K	10x	as long as short
Paragon para:TTWOlong	+0.0978%	1h	210.37	long leg	$1.1M	$156K	10x