Funding arb · Price arb /

RUNE

all RUNE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.1408%/8h= +154.2% APRpaid last 24h +0.036%

Price spread now: Bybit against Deribit−0.156%7-day average — · you buy dearer than you sell

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

Long on Deribit Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 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

Funding pays, the price is against you. Bybit is 0.156% cheaper against Deribit than usual: you would sell low and buy high (spread −0.156% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$16 on $10k: about 9 hours of funding at the current rate (+$42 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit RUNE_USDC-PERPETUAL	0.6407	−0.1308	get 0.0164% / 1h	20m 04s	—	—	10x
Short	Bybit RUNEUSDT	0.6397	0.0100	get 0.0100% / 8h	1h 20m	$2.7M	$1.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Deribit. 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 DeribitbpFee BybitbpOrdersPrice spread, now −0.156%Rate

Funding earned: $295.72
Price spread: −0.156% → 0.000%: −$15.61
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $262.11
Costs to cover: 0.180%
Break-even: 0.8 days

Slippage unknown: Deribit: no order-book sample; Bybit: live order book, 2 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 Deribit no order-book sample	—	—	—	—	—
Sell Bybit live order book, 2 min ago	4.67 bp	35.9 bp −$36	66.6 bp −$666	doesn't fit	doesn't fit

Deribit: 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-PERPETUALlong	−0.1308%	1h	0.6407	long leg	—	—	10x
Injective RUNE/USDC PERP	+0.0033%	1h	0.6155	−3.933%	$7	$24	12x	as long as short
BloFin RUNE-USDT	+0.0078%	8h	0.6416	+0.140%	$457K	$157K	75x	as long as short
Binance RUNEUSDT	+0.0100%	8h	0.6403	−0.069%	$4.8M	$10.5M	75x	as long as short
Bybit RUNEUSDTshort	+0.0100%	8h	0.6397	−0.156%	$2.7M	$1.6M	75x
Gate RUNE_USDT	+0.0100%	8h	0.6408	+0.016%	$661K	$302K	50x	as long as short
MEXC RUNE_USDT	+0.0100%	8h	0.6401	−0.094%	$3.5M	$1.7M	125x	as long as short
KuCoin RUNEUSDTM	+0.0100%	8h	0.6404	−0.047%	$903K	$201K	50x	as long as short
Bitget RUNEUSDT	+0.0100%	8h	0.6408	+0.016%	$1.6M	$510K	50x	as long as short
BingX RUNE-USDT	+0.0100%	8h	0.6398	−0.140%	—	$59.1M	—	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni RUNE	+0.0100%	8h	0.6408	+0.019%	$127K	$9K	—	as long as short
Extended RUNE-USD	+0.0104%	1h	0.6410	+0.041%	$4K	$170K	10x	as long as short
Coinbase International RUNE-PERP-INTX	+0.0112%	1h	0.6410	+0.047%	$37K	$18K	25x	as long as short
Hyperliquid RUNE	+0.0740%	1h	0.6420	+0.208%	$1.7M	$868K	5x	as long as short
dYdX RUNE-USD	+0.1320%	1h	0.6418	+0.173%	$55K	$4K	5x	as long as short
Kraken Futures PF_RUNEUSD	+0.2136%	1h	0.6415	+0.122%	$188K	$230K	20x	as long as short