Funding arb · Price arb /

BE

RWAall BE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0013%/8h= +1.4% APRpaid last 24h +0.029%

Price spread now: Coinbase International against Bybit−0.684%7-day average −0.286% · you buy dearer than you sell

Net, funding: paid 7d − costs−$48as in the Funding arb table

Net, price: spread back to 7d avg − costs−$106as in the Price arb table

costs, in and out, $10k−$660.664% of the position

Long on Bybit Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.183%+$18 on $10k

Price spread, last 4 days (all we have)+0.660%+$66 · spread now −0.684%, 7d avg −0.286%

Together, before fees+0.843%+$84 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.398% cheaper against Bybit than usual: you would sell low and buy high (spread −0.684% now, against its 7-day average of −0.286%). If the spread goes back, that is −$40 on $10k: about 3 months of funding at the current rate ($0 a day). At the pace of the last 7 days (+0.183% in total) that is about 15 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit BEUSDT	274.96	0.0051	pay 0.0051% / 8h	3h 46m	$2.0M	$1.1M	25x
Short	Coinbase International BE-PERP-INTX	273.08	0.0064	get 0.0008% / 1h	46m 36s	$473K	$128K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.684%Rate

Funding earned: $2.75
Price spread: −0.684% → −0.286%: −$39.76
Slippage, 4 orders: −$45.43
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$103.45
Costs to cover: 0.664%
Break-even: 270.6 days

Slippage from Bybit: live order book, 5 min ago; Coinbase International: live order book, 6 min ago.

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, 5 min ago	3.28 bp	24.8 bp −$25	186.8 bp −$1,868	doesn't fit	doesn't fit
Sell Coinbase International live order book, 6 min ago	4.55 bp	9.6 bp −$10	19.3 bp −$193	doesn't fit	doesn't fit

BE on 21 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
Aster BEUSDT	0.0000%	8h	274.45	−0.184%	$345K	$119K	20x	as long as short
Gate BE_USDT	0.0000%	8h	274.50	−0.167%	$1.5M	$3.3M	50x	as long as short
Bitget BEUSDT	0.0000%	8h	274.99	+0.011%	$1.7M	$2.6M	20x	as long as short
GRVT BE_USDT_Perp	0.0000%	8h	274.27	−0.252%	$7K	$163K	10x	as long as short
SunX BE-USDT	0.0000%	8h	274.19	−0.280%	$910	$2.4M	10x	as long as short
HTX BE-USDT	0.0000%	8h	274.79	−0.062%	$13K	$35K	20x	as long as short
Lighter BE	+0.0032%	1h	274.29	−0.244%	—	—	10x	as long as short
Lighter RH BE	+0.0032%	1h	274.44	−0.189%	$251K	$290K	10x	as long as short
Extended BE-USD	+0.0032%	1h	274.68	−0.101%	$46K	$260K	10x	as long as short
Binance BEUSDT	+0.0035%	8h	274.93	−0.013%	$8.5M	$36.5M	25x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX BE-USD	+0.0036%	1h	274.84	−0.044%	$1.3M	$2.7M	10x	as long as short
Arcus BE-USD	+0.0040%	1h	274.45	−0.185%	$115K	$109K	10x	as long as short
Vest BE-USD-PERP	+0.0046%	1h	274.61	−0.127%	—	—	10x	as long as short
tradeXYZ xyz:BE	+0.0050%	1h	274.49	−0.171%	$5.9M	$2.6M	10x	as long as short
Bybit BEUSDTlong	+0.0051%	8h	274.96	long leg	$2.0M	$1.1M	25x
Coinbase International BE-PERP-INTXshort	+0.0064%	1h	273.08	−0.684%	$473K	$128K	10x
KuCoin BEUSDTM	+0.0100%	8h	274.60	−0.131%	$371K	$19K	20x	as long as short
Aevo BE-PERP	+0.0104%	1h	274.58	−0.139%	—	—	10x	as long as short
OKX BE-USDT-SWAP	+0.0139%	8h	274.90	−0.022%	$2.7M	$6.8M	25x	as long as short
BloFin BE-USDT	+0.0139%	8h	274.79	−0.062%	$45K	$142K	20x	as long as short
Deribit BE_USDC-PERPETUAL	+0.0661%	1h	274.58	−0.138%	$7K	$4K	10x	as long as short