Funding arb · Price arb /

RUNE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.1060%/8h= +116.1% APRpaid last 24h +0.099%

Price spread now: Coinbase International against Bybit+1.050%7-day average — · you sell dearer than you buy

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

Long on Bybit Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$32 a day on $10k at the current rate, and Coinbase International is 1.050% dearer against Bybit than usual: you sell high and buy low: +$105 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit RUNEUSDT	0.6379	0.0100	pay 0.0100% / 8h	7h 29m	$2.9M	$2.9M	75x
Short	Coinbase International RUNE-PERP-INTX	0.6446	0.1160	get 0.0145% / 1h	29m 50s	$37K	$30K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +1.050%Rate

Funding earned: $222.6
Price spread: +1.050% → 0.000%: $105.03
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $306.63
Costs to cover: 0.210%
Break-even: from the start

Slippage unknown: Bybit: live order book, 2 min ago; Coinbase International: no order-book sample. 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 Bybit live order book, 2 min ago	2.35 bp	34.4 bp −$34	68.1 bp −$681	doesn't fit	doesn't fit
Sell Coinbase International no order-book sample	—	—	—	—	—

Coinbase International: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

RUNE 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
Deribit RUNE_USDC-PERPETUAL	0.0000%	1h	0.6382	+0.047%	—	—	10x	as long as short
Injective RUNE/USDC PERP	+0.0033%	1h	0.6155	−3.512%	$7	$14	12x	as long as short
BloFin RUNE-USDT	+0.0090%	8h	0.6380	+0.016%	$327K	$209K	75x	as long as short
Binance RUNEUSDT	+0.0100%	8h	0.6384	+0.074%	$5.1M	$16.6M	75x	as long as short
Bybit RUNEUSDTlong	+0.0100%	8h	0.6379	long leg	$2.9M	$2.9M	75x
Gate RUNE_USDT	+0.0100%	8h	0.6382	+0.047%	$669K	$381K	50x	as long as short
MEXC RUNE_USDT	+0.0100%	8h	0.6382	+0.047%	$3.8M	$3.8M	125x	as long as short
KuCoin RUNEUSDTM	+0.0100%	8h	0.6380	+0.016%	$989K	$366K	50x	as long as short
Variational Omni RUNE	+0.0100%	8h	0.6378	−0.009%	$184K	$70K	—	as long as short
Extended RUNE-USD	+0.0104%	1h	0.6379	+0.007%	$4K	$209K	10x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget RUNEUSDT	+0.0157%	8h	0.6388	+0.141%	$1.5M	$802K	50x	as long as short
dYdX RUNE-USD	+0.0159%	1h	0.6376	−0.047%	$27K	$32K	5x	as long as short
BingX RUNE-USDT	+0.0162%	8h	0.6384	+0.078%	—	$3.9M	—	as long as short
Coinbase International RUNE-PERP-INTXshort	+0.1160%	1h	0.6446	+1.050%	$37K	$30K	25x
Hyperliquid RUNE	+0.1227%	1h	0.6388	+0.146%	$1.8M	$1.2M	5x	as long as short
Kraken Futures PF_RUNEUSD	+0.1683%	1h	0.6385	+0.089%	$149K	$313K	20x	as long as short