Funding arb · Price arb /

NOT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.013%

Price spread now: Bybit against Binance−0.123%7-day average −0.097% · you buy dearer than you sell

Net, funding: paid 7d − costs−$82as in the Funding arb table

Net, price: spread back to 7d avg − costs−$87as in the Price arb table

costs, in and out, $10k−$840.839% of the position

Long on Binance Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.015%+$2 on $10k

Price spread, last 7 days+0.112%+$11 · spread now −0.123%, 7d avg −0.097%

Together, before fees+0.127%+$13 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 0.026% cheaper against Binance than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.097%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance NOTUSDT	0.0005129	0.0100	pay 0.0050% / 4h	3h 10m	$2.1M	$3.1M	50x
Short	Bybit NOTUSDT	0.0005123	0.0100	get 0.0050% / 4h	3h 10m	$2.2M	$826K	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 −0.123%Rate

Funding earned: $0
Price spread: −0.123% → −0.097%: −$2.58
Slippage, 4 orders: −$62.93
Fee Binance: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$86.51
Costs to cover: 0.839%
Break-even: never at this rate

Slippage from Binance: live order book, 10 min ago; Bybit: live order book, 1 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, 10 min ago	1.96 bp	19.4 bp −$19	118.6 bp −$1,186	doesn't fit	doesn't fit
Sell Bybit live order book, 1 min ago	2.93 bp	21.7 bp −$22	92.5 bp −$925	doesn't fit	doesn't fit

NOT on 16 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_NOTUSD	−0.0331%	1h	0.0005119	−0.197%	$50K	$10K	10x	as long as short
Variational Omni NOT	−0.0124%	4h	0.0005117	−0.247%	$72K	$39K	—	as long as short
Injective NOT/USDC PERP	+0.0033%	1h	0.0004874	−4.977%	$1K	$13K	5.5x	as long as short
BloFin NOT-USDT	+0.0072%	4h	0.0005124	−0.103%	$112K	$17K	50x	as long as short
Lighter 1000NOT	+0.0096%	1h	0.0005125	−0.082%	$12K	$5K	3x	as long as short
Hyperliquid NOT	+0.0100%	1h	0.0005130	+0.014%	$375K	$51K	3x	as long as short
Aster NOTUSDT	+0.0100%	4h	0.0005129	−0.012%	$14K	$9K	5x	as long as short
Binance NOTUSDTlong	+0.0100%	4h	0.0005129	long leg	$2.1M	$3.1M	50x
Bybit NOTUSDTshort	+0.0100%	4h	0.0005123	−0.123%	$2.2M	$826K	25x
OKX NOT-USDT-SWAP	+0.0100%	4h	0.0005121	−0.162%	$637K	$615K	20x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate NOT_USDT	+0.0100%	4h	0.0005124	−0.103%	$143K	$79K	50x	as long as short
MEXC NOT_USDT	+0.0100%	4h	0.0005130	+0.014%	$1.4M	$466K	200x	as long as short
KuCoin NOTUSDTM	+0.0100%	4h	0.0005119	−0.201%	$468K	$135K	50x	as long as short
Bitget NOTUSDT	+0.0100%	4h	0.0005126	−0.064%	$673K	$395K	50x	as long as short
BingX NOT-USDT	+0.0100%	4h	0.0005124	−0.103%	—	$8.9M	—	as long as short
Extended kNOT-USD	+0.0104%	1h	0.0005128	−0.022%	$4K	$491	5x	as long as short