Funding arb · Price arb /

S

all S markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0405%/8h= −44.4% APRpaid last 24h +0.030%

Price spread now: Deribit against Bybit+0.843%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 Deribit

What this pair did over the last

the charts below follow

Funding, last 4 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

The price spread pays, funding is against you. Deribit is 0.843% dearer against Bybit than usual: you sell high and buy low (spread +0.843% now, against zero (this spread has no 7-day history yet)): +$84 on $10k if it goes back. Holding the pair costs −$12 a day in funding at the current rate, which eats that in about 6.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit SUSDT	0.04508	−0.0004	get 0.0002% / 4h	49m 36s	$6.4M	$6.9M	50x
Short	Deribit S_USDC-PERPETUAL	0.04546	−0.0409	pay 0.0051% / 1h	49m 36s	$76K	$623	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.843%Rate

Funding earned: −$85.09
Price spread: +0.843% → 0.000%: $84.29
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$18.8
Costs to cover: 0.180%
Break-even: from the start

Slippage unknown: Bybit: live order book, 1 min ago; Deribit: 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, 1 min ago	2.20 bp	26.6 bp −$27	72.6 bp −$726	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

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.

S on 25 exchanges

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
01 Exchange SUSD	−0.7376%	1h	0.04400	−2.396%	$27K	$3K	5x	as long as short
Kraken Futures PF_SUSD	−0.3592%	1h	0.04534	+0.579%	$38K	$28K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1880%	1h	0.04510	+0.044%	$55K	$21K	25x	as long as short
Variational Omni S	−0.1375%	4h	0.04558	+1.116%	$732K	$52K	—	as long as short
Deribit S_USDC-PERPETUALshort	−0.0409%	1h	0.04546	+0.843%	$76K	$623	10x
GMX S/USD [WBTC.b-USDC]	L −0.0254% / S +0.0167%	1h	0.04550	+0.921%	$2K	—	100x	as long as short
Orderly PERP_S_USDC	−0.0147%	4h	0.04542	+0.754%	$112K	$632K	10x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.04543	+0.766%	$5	—	15x	as long as short
OKX S-USDT-SWAP	−0.0100%	4h	0.04515	+0.155%	$1.4M	$7.8M	20x	as long as short
Hyperliquid S	−0.0048%	1h	0.04524	+0.350%	$1.2M	$1.1M	5x	as long as short

Show all 25 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit SUSDTlong	−0.0004%	4h	0.04508	long leg	$6.4M	$6.9M	50x
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04546	+0.848%	$701	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04600	+2.041%	$2K	$2	12x	as long as short
Lighter S	+0.0096%	1h	0.04518	+0.222%	$158K	$154K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04521	+0.289%	$48K	$188K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.04516	+0.177%	$6.8M	$26.8M	75x	as long as short
Gate S_USDT	+0.0100%	4h	0.04516	+0.177%	$381K	$385K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.04530	+0.488%	$4.0M	$3.7M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.04517	+0.200%	$2.1M	$3.0M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.04522	+0.311%	$1.3M	$3.6M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.04520	+0.266%	—	$7.1M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.04540	+0.710%	$25K	$536K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.04516	+0.188%	$257K	$1.3M	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.04555	+1.043%	$341K	$243K	75x	as long as short
Backpack S_USDC_PERP	+0.0390%	1h	0.04550	+0.932%	$103K	$454K	5x	as long as short