Funding arb · Price arb /

ARB

all ARB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0432%/8h= +47.3% APRpaid last 24h +0.106%

Price spread now: Coinbase International against Bybit+0.468%54s7-day average +0.203% · you sell dearer than you buy

Net, funding: paid 7d − costs−$18as 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−$550.549% of the position

Long on Bybit Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.370%+$37 on $10k

Price spread, last 3 days (all we have)+0.187%+$19 · spread now +0.468%, 7d avg +0.203%

Together, before fees+0.557%+$56 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$13 a day on $10k at the current rate, and Coinbase International is 0.265% dearer against Bybit than usual: you sell high and buy low: +$27 more if the spread goes back to its 7-day average of +0.203%. The two prices were read 54 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	Bybit ARBUSDT	0.2243	−0.0200	get 0.0200% / 8h	7h 35m	$57.9M	$126.5M	50x
Short	Coinbase International ARB-PERP-INTX	0.2253	0.0232	get 0.0029% / 1h	35m 25s	$507K	$2.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.468%Rate

Funding earned: $90.65
Price spread: +0.468% → +0.203%: $26.54
Slippage, 4 orders: −$33.92
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $62.27
Costs to cover: 0.549%
Break-even: 2.2 days

Slippage from Bybit: live order book, 4 min ago; Coinbase International: live order book, 3 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, 4 min ago	0.22 bp	8.6 bp −$9	16.7 bp −$167	51.8 bp −$5,180	doesn't fit
Sell Coinbase International live order book, 3 min ago	6.66 bp	15.4 bp −$15	40.6 bp −$406	doesn't fit	doesn't fit

ARB on 36 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
Injective ARB/USDC PERP	−0.1666%	1h	0.2233	−0.424%	$40K	$372K	12x	as long as short
Variational Omni ARB	−0.0212%	8h	0.2242	−0.027%	$1.9M	$2.8M	—	as long as short
Bybit ARBUSDTlong	−0.0200%	8h	0.2243	long leg	$57.9M	$126.5M	50x
01 Exchange ARBUSD	−0.0144%	1h	0.2241	−0.054%	$7K	$2K	10x	as long as short
Kraken Futures PF_ARBUSD	−0.0139%	1h	0.2245	+0.133%	$1.1M	$4.9M	50x	as long as short
OKX ARB-USDT-SWAP	−0.0119%	8h	0.2243	+0.018%	$22.5M	$156.2M	50x	as long as short
MEXC ARB_USDT	−0.0118%	8h	0.2240	−0.111%	$38.3M	$59.0M	200x	as long as short
SoDEX ARB-USD	−0.0074%	1h	0.2243	+0.013%	$4K	$2.5M	5x	as long as short
Orderly PERP_ARB_USDC	−0.0045%	8h	0.2244	+0.067%	$12K	$386K	10x	as long as short
Deribit ARB_USDC-PERPETUAL	−0.0017%	1h	0.2244	+0.049%	$25K	$34K	25x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ARBUSDT	−0.0009%	8h	0.2244	+0.062%	$66.1M	$310.5M	75x	as long as short
Extended ARB-USD	−0.0008%	1h	0.2242	−0.026%	$359K	$3.3M	25x	as long as short
dYdX ARB-USD	0.0000%	1h	0.2242	−0.015%	$66K	$4K	10x	as long as short
gTrade (Gains Network) ARB/USD	L +0.0005% / S −0.0005%	1h	0.2245	+0.097%	$55K	—	150x	as long as short
Phemex ARBUSDT	+0.0015%	8h	0.2243	+0.022%	$5.1M	$13.0M	50x	as long as short
BingX ARB-USDC	+0.0059%	8h	0.2242	−0.027%	—	$6.5M	—	as long as short
Bitget ARBUSDT	+0.0066%	8h	0.2244	+0.067%	$21.3M	$35.8M	50x	as long as short
Aevo ARB-PERP	+0.0080%	1h	0.2244	+0.079%	$142K	$7K	3x	as long as short
Gate ARB_USDT	+0.0093%	8h	0.2244	+0.076%	$5.4M	$19.8M	60x	as long as short
Lighter ARB	+0.0096%	1h	0.2243	+0.031%	$1.4M	$7.3M	15x	as long as short
Hyperliquid ARB	+0.0100%	1h	0.2243	+0.031%	$40.5M	$47.3M	10x	as long as short
Aster ARBUSDT	+0.0100%	8h	0.2244	+0.049%	$697K	$1.6M	20x	as long as short
Pacifica ARB	+0.0100%	1h	0.2243	+0.013%	$44K	$186K	10x	as long as short
KuCoin ARBUSDTM	+0.0100%	8h	0.2242	−0.040%	$19.5M	$15.9M	75x	as long as short
edgeX ARBUSDC	+0.0100%	4h	0.2249	+0.284%	$40K	$461K	20x	as long as short
GRVT ARB_USDT_Perp	+0.0100%	8h	0.2250	+0.334%	$482K	$3.5M	10x	as long as short
ApeX Omni ARBUSDT	+0.0100%	1h	0.2248	+0.245%	$121K	$296K	50x	as long as short
Polymarket Perps ARB-USD	+0.0100%	1h	0.2241	−0.058%	$65K	$2.0M	10x	as long as short
SunX ARB-USDT	+0.0100%	8h	0.2243	+0.022%	$1K	$1.1M	30x	as long as short
HTX ARB-USDT	+0.0100%	8h	0.2246	+0.178%	$292K	$1.0M	50x	as long as short
BloFin ARB-USDT	+0.0110%	8h	0.2243	+0.031%	$3.1M	$2.8M	75x	as long as short
Coinbase International ARB-PERP-INTXshort	+0.0232%	1h	0.2253	+0.468%	$507K	$2.2M	50x
GMX ARB/USD [ARB-USDC]	L +0.0288% / S −0.0177%	1h	0.2245	+0.107%	$894K	—	150x	as long as short
Reya ARBRUSDPERP	+0.0290%	1h	0.2240	−0.103%	$2K	$695	20x	as long as short
RISEx ARB/USDC	+0.0384%	1h	0.2243	+0.043%	$513K	$2.7M	10x	as long as short
Backpack ARB_USDC_PERP	+0.0464%	1h	0.2246	+0.152%	$1.0M	$2.8M	20x	as long as short