Funding arb · Price arb /

RED

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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 −0.006%

Price spread now: Bybit against SunX−2.255%7-day average −2.281% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on SunX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.170%−$17 on $10k

Price spread, last 3 days (all we have)−0.156%−$16 · spread now −2.255%, 7d avg −2.281%

Together, before fees−0.326%−$33 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% dearer against SunX than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −2.281%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX RED-USDT	0.1552	0.0100	pay 0.0050% / 4h	50m 46s	$2K	$670K	20x
Short	Bybit REDUSDT	0.1517	0.0100	get 0.0050% / 4h	50m 46s	$2.2M	$1.7M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against SunX. 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 SunXbpFee BybitbpOrdersPrice spread, now −2.255%Rate

Funding earned: $0
Price spread: −2.255% → −2.281%: $2.59
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$16.41
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 11 min ago; Bybit: live order book, 1 min ago. Net counts fees only.

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 SunX live order book, 11 min ago	244.69 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 1 min ago	2.31 bp	54.2 bp −$54	doesn't fit	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	0.1518	−2.214%	$24K	$37K	5x	as long as short
Binance REDUSDT	+0.0100%	4h	0.1517	−2.258%	$2.4M	$3.9M	50x	as long as short
Bybit REDUSDTshort	+0.0100%	4h	0.1517	−2.255%	$2.2M	$1.7M	25x
Gate RED_USDT	+0.0100%	4h	0.1517	−2.255%	$349K	$151K	25x	as long as short
Bitget REDUSDT	+0.0100%	4h	0.1517	−2.255%	$726K	$293K	20x	as long as short
Variational Omni RED	+0.0100%	4h	0.1522	−1.963%	$25K	$3K	—	as long as short
SunX RED-USDTlong	+0.0100%	4h	0.1552	long leg	$2K	$670K	20x
Extended RED-USD	+0.0104%	1h	0.1517	−2.272%	$30	—	5x	as long as short
BloFin RED-USDT	+0.0124%	4h	0.1516	−2.326%	$224K	$5K	25x	as long as short
MEXC RED_USDT	+0.0386%	4h	0.1517	−2.255%	$562K	$173K	20x	as long as short