Funding arb · Price arb /

TTWO

RWAall TTWO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.7001%/8h= +766.7% APRpaid last 24h +0.138%

Price spread now: Paragon against Bybit+0.095%7-day average −0.050% · you sell dearer than you buy

Net, funding: paid 7d − costs−$29as in the Funding arb table

Net, price: spread back to 7d avg − costs−$187as in the Price arb table

costs, in and out, $10k−$2012.012% of the position

Long on Bybit Short on Paragon

What this pair did over the last

the charts below follow

Funding, last 7 days+1.722%+$172 on $10k

Price spread, last 7 days−0.037%−$4 · spread now +0.095%, 7d avg −0.050%

Together, before fees+1.685%+$169 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$210 a day on $10k at the current rate, and Paragon is 0.146% dearer against Bybit than usual: you sell high and buy low: +$15 more if the spread goes back to its 7-day average of −0.050%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 1.722% in total (about 89.8% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit TTWOUSDT	210.16	0	get 0.0000% / 8h	4h 10m	$1.8M	$214K	25x
Short	Paragon para:TTWO	210.36	0.7001	get 0.0875% / 1h	10m 47s	$1.1M	$149K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paragon 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 ParagonbpOrdersPrice spread, now +0.095%Rate

Funding earned: $1,470.31
Price spread: +0.095% → −0.050%: $14.56
Slippage, 4 orders: −$180.24
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Paragon: 5 bp × 2 orders: −$10
Net: $1,283.64
Costs to cover: 2.012%
Break-even: 0.9 days

Slippage from Bybit: live order book, 6 min ago; Paragon: live order book, 5 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, 6 min ago	5.23 bp	28.0 bp −$28	81.4 bp −$814	doesn't fit	doesn't fit
Sell Paragon live order book, 5 min ago	42.57 bp	47.8 bp −$48	185.8 bp −$1,858	doesn't fit	doesn't fit

TTWO on 13 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
Bybit TTWOUSDTlong	0.0000%	8h	210.16	long leg	$1.8M	$214K	25x
OKX TTWO-USDT-SWAP	0.0000%	8h	210.21	+0.024%	$326K	$90K	25x	as long as short
Gate TTWO_USDT	0.0000%	8h	210.20	+0.019%	$714K	$13K	20x	as long as short
Bitget TTWOUSDT	0.0000%	8h	209.98	−0.086%	$892K	$90K	20x	as long as short
QFEX TTWO-USD	+0.0024%	1h	210.05	−0.052%	$1.2M	$3.0M	10x	as long as short
Lighter TTWO	+0.0032%	1h	209.66	−0.238%	—	—	5x	as long as short
Extended TTWO-USD	+0.0040%	1h	209.89	−0.128%	$75K	$2K	10x	as long as short
Variational Omni TTWO	+0.0040%	8h	210.06	−0.048%	$80K	$55K	—	as long as short
Ondo Perps TTWO-USD.P	+0.0050%	1h	209.99	−0.081%	$332K	$204K	10x	as long as short
KuCoin TTWOUSDTM	+0.0100%	8h	209.74	−0.200%	$94K	$1.0M	20x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX TTWO-USDT	+0.0100%	8h	210.10	−0.029%	$3K	$38K	10x	as long as short
Binance TTWOUSDT	+0.0126%	8h	210.07	−0.043%	$2.3M	$904K	25x	as long as short
Paragon para:TTWOshort	+0.7001%	1h	210.36	+0.095%	$1.1M	$149K	10x