Funding arb · Price arb /

IO

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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: Bitget against Bybit+0.204%7-day average +0.124% · you sell dearer than you buy

Net, funding: paid 7d − costs−$225as in the Funding arb table

Net, price: spread back to 7d avg − costs−$229as in the Price arb table

costs, in and out, $10k−$2372.374% of the position

Long on Bybit Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.125%+$13 on $10k

Price spread, last 7 days−0.103%−$10 · spread now +0.204%, 7d avg +0.124%

Together, before fees+0.022%+$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: Bitget is 0.080% dearer against Bybit than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of +0.124%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit IOUSDT	0.1517	0.0100	pay 0.0050% / 4h	1h 33m	$1.1M	$877K	25x
Short	Bitget IOUSDT	0.1520	0.0100	get 0.0050% / 4h	1h 33m	$1.3M	$1.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.204%Rate

Funding earned: $0
Price spread: +0.204% → +0.124%: $8
Slippage, 4 orders: −$214.44
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$229.44
Costs to cover: 2.374%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; Bitget: 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, 2 min ago	6.60 bp	95.3 bp −$95	393.0 bp −$3,930	doesn't fit	doesn't fit
Sell Bitget live order book, 3 min ago	3.30 bp	29.8 bp −$30	126.6 bp −$1,266	doesn't fit	doesn't fit

IO on 14 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_IOUSD	−0.0636%	1h	0.1522	+0.353%	$39K	$21K	10x	as long as short
Hyperliquid IO	+0.0100%	1h	0.1518	+0.073%	$1.0M	$387K	3x	as long as short
Aster IOUSDT	+0.0100%	4h	0.1517	+0.028%	$6K	$32K	5x	as long as short
Binance IOUSDT	+0.0100%	4h	0.1520	+0.206%	$3.0M	$6.5M	50x	as long as short
Bybit IOUSDTlong	+0.0100%	4h	0.1517	long leg	$1.1M	$877K	25x
Gate IO_USDT	+0.0100%	4h	0.1516	−0.066%	$235K	$529K	50x	as long as short
MEXC IO_USDT	+0.0100%	4h	0.1517	+0.007%	$1.2M	$228K	125x	as long as short
KuCoin IOUSDTM	+0.0100%	4h	0.1517	+0.007%	$407K	$656K	50x	as long as short
Bitget IOUSDTshort	+0.0100%	4h	0.1520	+0.204%	$1.3M	$1.2M	50x
BingX IO-USDT	+0.0100%	4h	0.1520	+0.204%	—	$1.3M	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni IO	+0.0100%	4h	0.1514	−0.170%	$30K	$5K	—	as long as short
Extended IO-USD	+0.0104%	1h	0.1519	+0.168%	$5K	$171K	5x	as long as short
BloFin IO-USDT	+0.0140%	4h	0.1519	+0.138%	$193K	$30K	50x	as long as short
Injective IO/USDC PERP	+0.0163%	1h	0.1518	+0.073%	$2K	$103	5.5x	as long as short