Settings8H · net · $10k
Funding arb · Price arb /

BTW

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SwapBacktest
Alert: funding
Alert: spread
Funding you earn now, next payment 08:00 UTC+0.0038%/8h= +4.2% APRnext payment +$0.19 per $10,000 · paid last 24h +0.246%
Price spread now: edgeX against Bybit+0.220%101s7-day average +0.092% · you sell dearer than you buy
Net, funding: paid 7d − costs−$105as in the Funding arb table
Net, price: spread back to 7d avg − costsprices read too far apart to compare
costs, in and out, $10k−$1791.789% of the position
What this pair did over the last
the charts below follow
Funding, last 7 days+0.740%+$74 on $10k
Price spread, last 4 days (all we have)−0.065%−$6 · spread now +0.220%, 7d avg +0.092%
Together, before fees+0.675%+ Points / potential airdropedgeX: Active · farm board+$68 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and edgeX is 0.128% dearer against Bybit than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of +0.092%. The two prices were read 101 seconds apart, so part of this spread may be the market moving, not a spread.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBybit BTWUSDT0.79850.0955pay 0.0477% / 4h1h 55m$15.2M$42.2M10x
ShortedgeX BTWUSDC0.80030.0993get 0.0497% / 4h1h 55m$348K$520K10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

edgeX 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

Funding earned
$8.05
Price spread: +0.220% → +0.092%
$12.81
Slippage, 4 orders
−$158.9
Fee Bybit: 5.5 bp × 2 orders
−$11
Fee edgeX: 4.5 bp × 2 orders
−$9
Net
−$158.04
Costs to cover
1.789%
Break-even
144.4 days
Slippage from Bybit: live order book, 3 min ago; edgeX: live order book, 28 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Bybit live order book, 3 min ago4.83 bp75.1 bp −$75doesn't fitdoesn't fitdoesn't fit
Sell edgeX live order book, 28 min ago3.64 bp11.6 bp −$12doesn't fitdoesn't fitdoesn't fit

BTW on 11 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
HTX BTW-USDT+0.0100%4h0.7986+0.010%$206K$784K10xas long as short
KuCoin BTWUSDTM+0.0210%4h0.7972−0.159%$7.1M$5.0M10xas long as short
Aster BTWUSDT+0.0710%4h0.7989+0.045%$2.2M$3.3M5xas long as short
Bitget BTWUSDT+0.0724%4h0.7995+0.123%$25.1M$15.5M5xas long as short
BingX BTW-USDT+0.0944%4h0.7998+0.160%$4.3Mas long as short
Bybit BTWUSDTlong+0.0955%4h0.7985long leg$15.2M$42.2M10x
Extended BTW-USD+0.0968%1h0.7983−0.027%$34K$15K5xas long as short
MEXC BTW_USDT+0.0968%4h0.7984−0.015%$8.8M$6.5M20xas long as short
Binance BTWUSDT+0.0968%4h0.7990+0.064%$111.0M$183.5M10xas long as short
edgeX BTWUSDCshort+0.0993%4h0.8003+0.220%$348K$520K10x
Show all 11 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Gate BTW_USDT+0.1128%4h0.7944−0.514%$3.3M$17.7M10xas long as short