Funding arb · Price arb /

S

all S markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.8244%/8h= −902.7% APRpaid last 24h −2.198%

Price spread now: 01 Exchange against Bybit−4.419%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 01 Exchange

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 −$247 a day on $10k at the current rate, and 01 Exchange is 4.419% cheaper against Bybit than usual: you would sell low and buy high (−$442 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	0.04028	0.0100	pay 0.0050% / 4h	2h 45m	$5.8M	$4.9M	50x
Short	01 Exchange SUSD	0.03850	−0.8144	pay 0.1018% / 1h	45m 34s	$24K	$2K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now −4.419%Rate

Funding earned: −$1,731.24
Price spread: −4.419% → 0.000%: −$441.91
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: −$2,191.15
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 2 min ago; 01 Exchange: 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	1.25 bp	26.0 bp −$26	69.8 bp −$698	doesn't fit	doesn't fit
Sell 01 Exchange no order-book sample	—	—	—	—	—

01 Exchange: 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 SUSDshort	−0.8144%	1h	0.03850	−4.419%	$24K	$2K	5x
Coinbase International S-PERP-INTX	−0.1464%	1h	0.03946	−2.036%	$49K	$5K	25x	as long as short
Kraken Futures PF_SUSD	−0.1260%	1h	0.04022	−0.137%	$34K	$23K	10x	as long as short
Variational Omni S	−0.0553%	4h	0.04015	−0.313%	$624K	$30K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.04022	−0.159%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.04019	−0.214%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04023	−0.124%	$2K	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+1.787%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0039%	4h	0.04021	−0.174%	$101K	$329K	10x	as long as short
Lighter S	+0.0096%	1h	0.04029	+0.025%	$166K	$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	0.04026	−0.042%	$1.0M	$611K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04028	+0.004%	$44K	$137K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.04029	+0.014%	$5.5M	$15.4M	75x	as long as short
Bybit SUSDTlong	+0.0100%	4h	0.04028	long leg	$5.8M	$4.9M	50x
OKX S-USDT-SWAP	+0.0100%	4h	0.04031	+0.074%	$1.0M	$4.5M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.04027	−0.025%	$332K	$199K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.04029	+0.025%	$3.7M	$1.8M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.04027	−0.025%	$1.9M	$2.9M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.04033	+0.124%	$1.2M	$2.4M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.04032	+0.099%	—	$6.7M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.04020	−0.199%	$26K	$448K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.04029	+0.024%	$226K	$1.1M	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.04024	−0.099%	$272K	$122K	75x	as long as short
Deribit S_USDC-PERPETUAL	+0.0993%	1h	0.04029	+0.025%	$68K	$10K	10x	as long as short
Backpack S_USDC_PERP	+0.1026%	1h	0.04040	+0.298%	$117K	$333K	5x	as long as short