BNC: Bybit → Bitget

Long on the venue with the lower rate, short on the venue with the higher one. Income comes from the rate difference; price exposure cancels out.

Spread

-166%

APR right now

Price gap

+0.242%

between legs

Average spread

-10%

over 24h from our own samples

Over 7 days

-10%

samples: 118

BybitLONG

Bid / ask6.312 / 6.319

Mark price6.324

Volume 24h$1.99M

Open interest$577.64K

Rate-0.0648%

APR-71%

Interval / next payout8h / 5h 41m

Bybit

BitgetSHORT

Bid / ask6.3343 / 6.3426

Mark price6.3315

Volume 24h$3.26M

Open interest$1.08M

Rate-0.2166%

APR-237%

Interval / next payout8h / 5h 41m

Bitget

Spread from our samples

spread over the period: from -201% to 0% APR, 118 samples

The rate can flip at any moment, and then the position starts costing money. Size is limited by the weaker leg, and entry and exit both pay fees on two venues. Not financial advice.