Funding arb · Price arb /

RED

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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 +0.006%

Price spread now: Bitget against Bybit−0.250%7-day average −0.005% · you buy dearer than you sell

Net, funding: paid 7d − costs−$286as in the Funding arb table

Net, price: spread back to 7d avg − costs−$314as in the Price arb table

costs, in and out, $10k−$2892.890% of the position

Long on Bybit Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.032%+$3 on $10k

Price spread, last 4 days (all we have)+0.288%+$29 · spread now −0.250%, 7d avg −0.005%

Together, before fees+0.320%+$32 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 0.245% cheaper against Bybit than usual: you would sell low and buy high, −$25 on $10k if it goes back to its 7-day average of −0.005%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit REDUSDT	0.1557	0.0100	pay 0.0050% / 4h	2h 55m	$2.0M	$1.9M	25x
Short	Bitget REDUSDT	0.1553	0.0100	get 0.0050% / 4h	2h 55m	$747K	$284K	20x

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 −0.250%Rate

Funding earned: $0
Price spread: −0.250% → −0.005%: −$24.54
Slippage, 4 orders: −$265.99
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$313.53
Costs to cover: 2.890%
Break-even: never at this rate

Slippage from Bybit: live order book, 1 min ago; Bitget: live order book, 55 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, 1 min ago	6.75 bp	165.8 bp −$166	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 55 min ago	6.43 bp	38.2 bp −$38	131.5 bp −$1,315	doesn't fit	doesn't fit

RED on 10 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
Aster REDUSDT	+0.0100%	4h	0.1553	−0.245%	$28K	$37K	5x	as long as short
Binance REDUSDT	+0.0100%	4h	0.1553	−0.279%	$2.3M	$4.2M	50x	as long as short
Bybit REDUSDTlong	+0.0100%	4h	0.1557	long leg	$2.0M	$1.9M	25x
Gate RED_USDT	+0.0100%	4h	0.1551	−0.379%	$355K	$94K	25x	as long as short
Bitget REDUSDTshort	+0.0100%	4h	0.1553	−0.250%	$747K	$284K	20x
Variational Omni RED	+0.0100%	4h	0.1556	−0.046%	$26K	$3K	—	as long as short
SunX RED-USDT	+0.0100%	4h	0.1591	+2.190%	$2K	$810K	20x	as long as short
Extended RED-USD	+0.0104%	1h	0.1553	−0.272%	$31	—	5x	as long as short
BloFin RED-USDT	+0.0160%	4h	0.1556	−0.058%	$221K	$5K	25x	as long as short
MEXC RED_USDT	+0.0486%	4h	0.1553	−0.250%	$521K	$160K	20x	as long as short