Funding arb · Price arb /

S

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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 Bitget−0.205%7-day average −0.117% · you buy dearer than you sell

Net, funding: paid 7d − costs−$108as in the Funding arb table

Net, price: spread back to 7d avg − costs−$124as in the Price arb table

costs, in and out, $10k−$1151.150% of the position

Long on Bitget Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.067%+$7 on $10k

Price spread, last 7 days−0.015%−$2 · spread now −0.205%, 7d avg −0.117%

Together, before fees+0.052%+$5 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 0.088% cheaper against Bitget than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of −0.117%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget SUSDT	0.03904	0.0100	pay 0.0050% / 4h	2h 32m	$1.2M	$3.0M	50x
Short	Bybit SUSDT	0.03896	0.0100	get 0.0050% / 4h	2h 32m	$5.6M	$6.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Bitget. 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 BitgetbpFee BybitbpOrdersPrice spread, now −0.205%Rate

Funding earned: $0
Price spread: −0.205% → −0.117%: −$8.75
Slippage, 4 orders: −$91.98
Fee Bitget: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$123.74
Costs to cover: 1.150%
Break-even: never at this rate

Slippage from Bitget: live order book, just now; Bybit: live order book, just now.

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 Bitget live order book, just now	6.41 bp	23.6 bp −$24	68.3 bp −$683	doesn't fit	doesn't fit
Sell Bybit live order book, just now	2.57 bp	37.5 bp −$38	98.6 bp −$986	doesn't fit	doesn't fit

S on 25 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_SUSD	−0.1462%	1h	0.03903	−0.034%	$33K	$32K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1264%	1h	0.03826	−1.998%	$47K	$5K	25x	as long as short
Variational Omni S	−0.1122%	4h	0.03894	−0.247%	$606K	$34K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0189% / S +0.0183%	1h	0.03904	+0.003%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03899	−0.119%	$4	—	15x	as long as short
Aster SUSDT	−0.0021%	4h	0.03906	+0.055%	$43K	$212K	10x	as long as short
Orderly PERP_S_USDC	−0.0016%	4h	0.03902	−0.051%	$101K	$338K	10x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03906	+0.040%	$602	—	150x	as long as short
01 Exchange SUSD	+0.0008%	1h	0.03900	−0.102%	$24K	$3K	5x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+5.020%	$2K	$37K	12x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter S	+0.0096%	1h	0.03906	+0.051%	$164K	$240K	5x	as long as short
Hyperliquid S	+0.0100%	1h	0.03902	−0.064%	$984K	$911K	5x	as long as short
Binance SUSDT	+0.0100%	4h	0.03900	−0.097%	$5.3M	$23.8M	75x	as long as short
Bybit SUSDTshort	+0.0100%	4h	0.03896	−0.205%	$5.6M	$6.4M	50x
OKX S-USDT-SWAP	+0.0100%	4h	0.03900	−0.102%	$970K	$7.4M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.03903	−0.026%	$320K	$292K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03901	−0.077%	$3.5M	$2.6M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03901	−0.077%	$1.8M	$3.1M	50x	as long as short
Bitget SUSDTlong	+0.0100%	4h	0.03904	long leg	$1.2M	$3.0M	50x
BingX S-USDT	+0.0100%	4h	0.03903	−0.026%	—	$6.8M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03910	+0.154%	$19K	$471K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03899	−0.120%	$219K	$883K	10x	as long as short
Deribit S_USDC-PERPETUAL	+0.0261%	1h	0.03913	+0.231%	$66K	$10K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03903	−0.026%	$269K	$177K	75x	as long as short
Backpack S_USDC_PERP	+0.0503%	1h	0.03910	+0.154%	$114K	$288K	5x	as long as short