Funding arb · Price arb /

INIT

all INIT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Binance against Bybit+0.012%7-day average +0.153% · you sell dearer than you buy

Net, funding: paid 7d − costs−$152as in the Funding arb table

Net, price: spread back to 7d avg − costs−$171as in the Price arb table

costs, in and out, $10k−$1561.564% of the position

Long on Bybit Short on Binance

What this pair did over the last

the charts below follow

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

Price spread, last 7 days+0.065%+$7 · spread now +0.012%, 7d avg +0.153%

Together, before fees+0.112%+$11 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: Binance is 0.141% cheaper against Bybit than usual: you would sell low and buy high, −$14 on $10k if it goes back to its 7-day average of +0.153%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit INITUSDT	0.08401	0.0100	pay 0.0050% / 4h	43m 01s	$1.5M	$1.3M	25x
Short	Binance INITUSDT	0.08402	0.0100	get 0.0050% / 4h	43m 01s	$3.5M	$2.9M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.012%Rate

Funding earned: $0
Price spread: +0.012% → +0.153%: −$14.12
Slippage, 4 orders: −$135.39
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Binance: 5 bp × 2 orders: −$10
Net: −$170.51
Costs to cover: 1.564%
Break-even: never at this rate

Slippage from Bybit: live order book, 3 min ago; Binance: live order book, 8 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, 3 min ago	6.54 bp	40.2 bp −$40	86.1 bp −$861	doesn't fit	doesn't fit
Sell Binance live order book, 8 min ago	1.78 bp	36.2 bp −$36	112.2 bp −$1,122	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
Kraken Futures PF_INITUSD	−0.0244%	1h	0.08400	−0.017%	$5K	$17K	10x	as long as short
Hyperliquid INIT	+0.0100%	1h	0.08403	+0.026%	$313K	$146K	3x	as long as short
Aster INITUSDT	+0.0100%	4h	0.08400	−0.013%	$28K	$8K	5x	as long as short
Binance INITUSDTshort	+0.0100%	4h	0.08402	+0.012%	$3.5M	$2.9M	25x
Bybit INITUSDTlong	+0.0100%	4h	0.08401	long leg	$1.5M	$1.3M	25x
OKX INIT-USDT-SWAP	+0.0100%	4h	0.08403	+0.024%	$141K	$559K	10x	as long as short
Gate INIT_USDT	+0.0100%	8h	0.08403	+0.024%	$82K	$21K	25x	as long as short
MEXC INIT_USDT	+0.0100%	4h	0.08406	+0.060%	$447K	$169K	20x	as long as short
KuCoin INITUSDTM	+0.0100%	4h	0.08408	+0.083%	$327K	$50K	25x	as long as short
Bitget INITUSDT	+0.0100%	4h	0.08396	−0.060%	$434K	$260K	25x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX INIT-USDT	+0.0100%	4h	0.08405	+0.048%	—	$6.6M	—	as long as short
Variational Omni INIT	+0.0100%	4h	0.08402	+0.016%	$27K	$11K	—	as long as short
BloFin INIT-USDT	+0.0107%	4h	0.08419	+0.214%	$153K	$63K	25x	as long as short