Funding arb · Price arb /

INIT

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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 Bitget−0.049%7-day average −0.098% · you buy dearer than you sell

Net, funding: paid 7d − costs−$204as in the Funding arb table

Net, price: spread back to 7d avg − costs−$195as in the Price arb table

costs, in and out, $10k−$2001.997% of the position

Long on Bitget Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.046%−$5 on $10k

Price spread, last 4 days (all we have)+0.023%+$2 · spread now −0.049%, 7d avg −0.098%

Together, before fees−0.024%−$2 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 0.049% dearer against Bitget than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.098%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget INITUSDT	0.08160	0.0100	pay 0.0050% / 4h	2h 58m	$426K	$312K	25x
Short	Bybit INITUSDT	0.08156	0.0100	get 0.0050% / 4h	2h 58m	$1.4M	$1.5M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Bitget. 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 BitgetbpFee BybitbpOrdersPrice spread, now −0.049%Rate

Funding earned: $0
Price spread: −0.049% → −0.098%: $4.89
Slippage, 4 orders: −$176.73
Fee Bitget: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$194.84
Costs to cover: 1.997%
Break-even: never at this rate

Slippage from Bitget: live order book, 26 min ago; Bybit: 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 Bitget live order book, 26 min ago	7.91 bp	49.3 bp −$49	258.9 bp −$2,589	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	6.74 bp	50.0 bp −$50	180.3 bp −$1,803	doesn't fit	doesn't fit

INIT 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
Hyperliquid INIT	+0.0100%	1h	0.08156	−0.047%	$296K	$238K	3x	as long as short
Aster INITUSDT	+0.0100%	4h	0.08162	+0.029%	$27K	$36K	5x	as long as short
Binance INITUSDT	+0.0100%	4h	0.08159	−0.012%	$3.4M	$3.6M	25x	as long as short
Bybit INITUSDTshort	+0.0100%	4h	0.08156	−0.049%	$1.4M	$1.5M	25x
OKX INIT-USDT-SWAP	+0.0100%	4h	0.08164	+0.049%	$132K	$631K	10x	as long as short
Gate INIT_USDT	+0.0100%	8h	0.08154	−0.074%	$83K	$56K	25x	as long as short
MEXC INIT_USDT	+0.0100%	4h	0.08159	−0.012%	$443K	$214K	20x	as long as short
KuCoin INITUSDTM	+0.0100%	4h	0.08171	+0.135%	$325K	$56K	25x	as long as short
Bitget INITUSDTlong	+0.0100%	4h	0.08160	long leg	$426K	$312K	25x
BingX INIT-USDT	+0.0100%	4h	0.08160	0.000%	—	$6.6M	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni INIT	+0.0100%	4h	0.08163	+0.038%	$26K	$23K	—	as long as short
BloFin INIT-USDT	+0.0118%	4h	0.08165	+0.061%	$156K	$110K	25x	as long as short
Kraken Futures PF_INITUSD	+0.0536%	1h	0.08162	+0.026%	$6K	$18K	10x	as long as short