Funding arb · Price arb /

BE

RWAall BE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0064%/8h= +7.0% APRpaid last 24h +0.046%

Price spread now: Coinbase International against SunX−0.432%7-day average −0.283% · you buy dearer than you sell

Net, funding: paid 7d − costs−$257as in the Funding arb table

Net, price: spread back to 7d avg − costs−$295as in the Price arb table

costs, in and out, $10k−$2802.798% of the position

Long on SunX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.228%+$23 on $10k

Price spread, last 3 days (all we have)+0.175%+$18 · spread now −0.432%, 7d avg −0.283%

Together, before fees+0.403%+$40 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.149% cheaper against SunX than usual: you would sell low and buy high (spread −0.432% now, against its 7-day average of −0.283%). If the spread goes back, that is −$15 on $10k: about 7.7 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX BE-USDT	273.42	0	get 0.0000% / 8h	1h 04m	$891	$2.6M	10x
Short	Coinbase International BE-PERP-INTX	272.24	0.0064	get 0.0008% / 1h	4m 11s	$467K	$120K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against SunX. 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 SunXbpFee Coinbase InternationalbpOrdersPrice spread, now −0.432%Rate

Funding earned: $13.44
Price spread: −0.432% → −0.283%: −$14.85
Slippage, 4 orders: −$261.8
Fee SunX: 4 bp × 2 orders: −$8
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$281.21
Costs to cover: 2.798%
Break-even: 153.5 days

Slippage from SunX: live order book, 2 min ago; Coinbase International: live order book, 14 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 SunX live order book, 2 min ago	45.90 bp	125.9 bp −$126	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 14 min ago	5.86 bp	10.9 bp −$11	18.5 bp −$185	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	273.11	−0.114%	$343K	$117K	20x	as long as short
Extended BE-USD	0.0000%	1h	273.40	−0.008%	$46K	$270K	10x	as long as short
Binance BEUSDT	0.0000%	8h	273.46	+0.016%	$8.5M	$37.2M	25x	as long as short
Bybit BEUSDT	0.0000%	8h	273.36	−0.022%	$2.0M	$1.2M	25x	as long as short
Gate BE_USDT	0.0000%	8h	273.10	−0.117%	$1.5M	$3.8M	50x	as long as short
Bitget BEUSDT	0.0000%	8h	273.26	−0.059%	$1.7M	$2.6M	20x	as long as short
GRVT BE_USDT_Perp	0.0000%	8h	273.42	+0.001%	$7K	$189K	10x	as long as short
SunX BE-USDTlong	0.0000%	8h	273.42	long leg	$891	$2.6M	10x
HTX BE-USDT	0.0000%	8h	273.44	+0.007%	$12K	$33K	20x	as long as short
Lighter BE	+0.0032%	1h	273.00	−0.154%	—	—	10x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH BE	+0.0032%	1h	273.26	−0.059%	$249K	$424K	10x	as long as short
QFEX BE-USD	+0.0035%	1h	273.36	−0.022%	$1.3M	$3.8M	10x	as long as short
Arcus BE-USD	+0.0040%	1h	273.09	−0.121%	$114K	$134K	10x	as long as short
Vest BE-USD-PERP	+0.0046%	1h	273.25	−0.062%	—	—	10x	as long as short
Coinbase International BE-PERP-INTXshort	+0.0064%	1h	272.24	−0.432%	$467K	$120K	10x
KuCoin BEUSDTM	+0.0100%	8h	273.27	−0.055%	$369K	$23K	20x	as long as short
Aevo BE-PERP	+0.0104%	1h	273.33	−0.034%	—	—	10x	as long as short
BloFin BE-USDT	+0.0120%	8h	273.36	−0.022%	$45K	$140K	20x	as long as short
tradeXYZ xyz:BE	+0.0135%	1h	273.13	−0.106%	$5.9M	$2.9M	10x	as long as short
OKX BE-USDT-SWAP	+0.0155%	8h	273.60	+0.066%	$2.6M	$6.8M	25x	as long as short
Deribit BE_USDC-PERPETUAL	+0.1069%	1h	273.39	−0.011%	$7K	$4K	10x	as long as short