Funding arb · Price arb /

S

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.1900%/8h= +208.0% APRpaid last 24h +2.294%

Price spread now: Bybit against 01 Exchange−0.249%7-day average — · you buy dearer than you sell

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

Long on 01 Exchange 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 0.249% cheaper against 01 Exchange than usual: you would sell low and buy high (spread −0.249% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$25 on $10k: about 11 hours of funding at the current rate (+$57 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange SUSD	0.04010	−0.1800	get 0.0225% / 1h	10m 06s	$25K	$2K	5x
Short	Bybit SUSDT	0.04000	0.0100	get 0.0050% / 4h	3h 10m	$5.7M	$4.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against 01 Exchange. 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 01 ExchangebpFee BybitbpOrdersPrice spread, now −0.249%Rate

Funding earned: $399
Price spread: −0.249% → 0.000%: −$24.94
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $356.06
Costs to cover: 0.180%
Break-even: 0.8 days

Slippage unknown: 01 Exchange: no order-book sample; Bybit: live order book, 3 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 01 Exchange no order-book sample	—	—	—	—	—
Sell Bybit live order book, 3 min ago	1.25 bp	24.0 bp −$24	72.6 bp −$726	doesn't fit	doesn't fit

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
Kraken Futures PF_SUSD	−0.2019%	1h	0.04001	−0.222%	$34K	$23K	10x	as long as short
01 Exchange SUSDlong	−0.1800%	1h	0.04010	long leg	$25K	$2K	5x
Coinbase International S-PERP-INTX	−0.1240%	1h	0.03959	−1.272%	$49K	$5K	25x	as long as short
Variational Omni S	−0.0682%	4h	0.03997	−0.328%	$621K	$31K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.04007	−0.062%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.04006	−0.102%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.04007	−0.078%	$618	—	150x	as long as short
Orderly PERP_S_USDC	+0.0026%	4h	0.04006	−0.100%	$102K	$331K	10x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+2.244%	$2K	$37K	12x	as long as short
Lighter S	+0.0096%	1h	0.04008	−0.050%	$164K	$192K	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	0.04004	−0.137%	$1.0M	$623K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.04006	−0.092%	$44K	$141K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.04006	−0.107%	$5.5M	$15.7M	75x	as long as short
Bybit SUSDTshort	+0.0100%	4h	0.04000	−0.249%	$5.7M	$4.9M	50x
OKX S-USDT-SWAP	+0.0100%	4h	0.04002	−0.200%	$983K	$4.5M	20x	as long as short
Gate S_USDT	+0.0100%	4h	0.04002	−0.200%	$327K	$218K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.04007	−0.075%	$3.6M	$1.9M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.04007	−0.075%	$1.9M	$2.9M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.04008	−0.050%	$1.2M	$2.4M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.04003	−0.175%	—	$6.7M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.04000	−0.249%	$26K	$445K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.04004	−0.141%	$224K	$1.1M	10x	as long as short
Backpack S_USDC_PERP	+0.0259%	1h	0.04010	0.000%	$117K	$325K	5x	as long as short
BloFin S-USDT	+0.0340%	4h	0.04004	−0.150%	$270K	$127K	75x	as long as short
Deribit S_USDC-PERPETUAL	+0.0748%	1h	0.04012	+0.050%	$67K	$10K	10x	as long as short