Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bybit against Binance−0.230%7-day average −0.146% · you buy dearer than you sell

Net, funding: paid 7d − costs−$173as in the Funding arb table

Net, price: spread back to 7d avg − costs−$176as in the Price arb table

costs, in and out, $10k−$1681.681% of the position

Long on Binance Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.045%−$4 on $10k

Price spread, last 7 days+0.072%+$7 · spread now −0.230%, 7d avg −0.146%

Together, before fees+0.027%+$3 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.083% cheaper against Binance than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of −0.146%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance BASEDUSDT	0.06728	0.0100	pay 0.0050% / 4h	2h 53m	$4.1M	$2.9M	25x
Short	Bybit BASEDUSDT	0.06713	0.0100	get 0.0050% / 4h	2h 53m	$2.1M	$572K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Binance. 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 BinancebpFee BybitbpOrdersPrice spread, now −0.230%Rate

Funding earned: $0
Price spread: −0.230% → −0.146%: −$8.35
Slippage, 4 orders: −$147.08
Fee Binance: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$176.42
Costs to cover: 1.681%
Break-even: never at this rate

Slippage from Binance: live order book, 14 min ago; Bybit: live order book, 4 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 Binance live order book, 14 min ago	0.74 bp	17.8 bp −$18	103.3 bp −$1,033	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	3.73 bp	72.4 bp −$72	917.2 bp −$9,172	doesn't fit	doesn't fit

BASED on 15 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
BloFin BASED-USDT	+0.0095%	4h	0.06727	−0.021%	$211K	$37K	25x	as long as short
Aster BASEDUSDT	+0.0100%	4h	0.06721	−0.108%	$28K	$6K	5x	as long as short
Binance BASEDUSDTlong	+0.0100%	4h	0.06728	long leg	$4.1M	$2.9M	25x
Bybit BASEDUSDTshort	+0.0100%	4h	0.06713	−0.230%	$2.1M	$572K	25x
OKX BASED-USDT-SWAP	+0.0100%	4h	0.06715	−0.200%	$2.6M	$3.3M	20x	as long as short
Gate BASED_USDT	+0.0100%	4h	0.06721	−0.111%	$534K	$510K	50x	as long as short
MEXC BASED_USDT	+0.0100%	4h	0.06728	−0.007%	$4.8M	$643K	50x	as long as short
KuCoin BASEDUSDTM	+0.0100%	4h	0.06718	−0.155%	$566K	$110K	20x	as long as short
Bitget BASEDUSDT	+0.0100%	4h	0.06721	−0.111%	$1.3M	$357K	25x	as long as short
BingX BASED-USDT	+0.0100%	4h	0.06719	−0.140%	—	$1.6M	—	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni BASED	+0.0100%	4h	0.06708	−0.297%	$92K	$21K	—	as long as short
GRVT BASED_USDT_Perp	+0.0100%	4h	0.06727	−0.016%	$92K	$388K	10x	as long as short
SunX BASED-USDT	+0.0100%	4h	0.06719	−0.140%	$1K	$786K	20x	as long as short
Extended BASED-USD	+0.0104%	1h	0.06728	−0.009%	$5K	$226K	5x	as long as short
Orderly PERP_BASED_USDC	+0.0253%	4h	0.06721	−0.111%	$3K	$652	10x	as long as short