Tools › Funding arbitrage

Funding arbitrage calculator

Short the venue paying the most, long the venue paying the least, hold both and collect the difference. Opens on BCH, the widest live spread across the venues covered here.

Spread captured

56.76%

annualised · both legs on their own interval

If both settled 8-hourly

-20.83%

the side-by-side reading

Gross over 30 days

$233.27

on $5,000 per leg

Gross per year

$2,838.17

at the current rate, before costs

These two venues settle on different intervals (8h and 1h). Differencing the quoted rates gives -20.83% where the real spread is 56.76% — a gap of $318.90 on this position over 30 days.

The two legs

Leg	Venue	Quoted	Interval	Annualised	You
Short	Bybit	-0.0002915	8h	-31.92%	pay
Long	Hyperliquid	-0.0001012	1h	-88.68%	receive
unused	Binance	-0.000531	8h	-58.15%	—

What this number is not

It is a gross carry at the current rate. It does not deduct taker fees on four fills (two to open, two to close), borrowing or margin costs, or slippage — on a spread of a few per cent a year, fees alone can exceed the entire edge.

It also assumes the spread persists. Funding is reset every settlement and the two venues can converge, invert, or gap apart within hours; the position is delta-neutral on price but emphatically not on funding. And both legs must stay solvent — a move against the short leg can liquidate it while the long leg is fine, leaving you directional at the worst moment. See where the levels sit for a contract →

Capital is split evenly across the legs here. Anything else changes the delta and this stops being an arbitrage.

BCH funding detail → · All contracts by spread →