Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0106%/8h= −11.6% APRpaid last 24h −0.026%

Price spread now: gTrade (Gains Network) against Bybit−0.524%7-day average — · you buy dearer than you sell

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

Long on Bybit Short on gTrade (Gains Network)

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

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and gTrade (Gains Network) is 0.524% cheaper against Bybit than usual: you would sell low and buy high (−$52 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit SUSDT	0.04052	0.0100	pay 0.0050% / 4h	2h 41m	$5.8M	$4.9M	50x
Short	gTrade (Gains Network) S/USD	0.04031	L +0.0001% / S +0.0006%	pay 0.0001% / 1h	41m 41s	$2K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now −0.524%Rate

Funding earned: −$22.28
Price spread: −0.524% → 0.000%: −$52.37
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$95.65
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 1 min ago; gTrade (Gains Network): 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	2.49 bp	24.2 bp −$24	94.2 bp −$942	doesn't fit	doesn't fit
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

gTrade (Gains Network): 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 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
01 Exchange SUSD	−0.9264%	1h	0.04050	−0.049%	$25K	$2K	5x	as long as short
Coinbase International S-PERP-INTX	−0.1464%	1h	0.03946	−2.616%	$49K	$5K	25x	as long as short
Kraken Futures PF_SUSD	−0.1258%	1h	0.04028	−0.589%	$34K	$23K	10x	as long as short
Variational Omni S	−0.0553%	4h	0.04015	−0.904%	$624K	$30K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.04029	−0.560%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.04028	−0.601%	$4	—	15x	as long as short
gTrade (Gains Network) S/USDshort	L +0.0001% / S +0.0006%	1h	0.04031	−0.524%	$2K	—	150x
Injective S/USDC PERP	+0.0033%	1h	0.04100	+1.185%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0041%	4h	0.04031	−0.518%	$107K	$330K	10x	as long as short
Lighter S	+0.0096%	1h	0.04058	+0.148%	$167K	$165K	5x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid S	+0.0100%	1h	0.04061	+0.232%	$1.0M	$613K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04057	+0.127%	$44K	$137K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.04061	+0.232%	$5.6M	$15.4M	75x	as long as short
Bybit SUSDTlong	+0.0100%	4h	0.04052	long leg	$5.8M	$4.9M	50x
OKX S-USDT-SWAP	+0.0100%	4h	0.04058	+0.148%	$1.0M	$4.5M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.04060	+0.197%	$336K	$203K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.04056	+0.099%	$3.9M	$1.8M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.04060	+0.197%	$1.9M	$2.9M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.04060	+0.197%	$1.2M	$2.4M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.04059	+0.173%	—	$6.7M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.04020	−0.790%	$26K	$447K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.04057	+0.117%	$230K	$1.1M	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.04024	−0.691%	$272K	$122K	75x	as long as short
Deribit S_USDC-PERPETUAL	+0.0742%	1h	0.04036	−0.395%	$68K	$10K	10x	as long as short
Backpack S_USDC_PERP	+0.0940%	1h	0.04040	−0.296%	$119K	$335K	5x	as long as short