BASED

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0184%/8h= −20.1% APRnext payment −$0.92 per $10,000 · paid last 24h −0.036%

Price spread now: Bybit against Orderly−0.161%50s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Orderly Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Bybit is 0.161% cheaper against Orderly than usual: you would sell low and buy high (−$16 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_BASED_USDC	0.06818	0.0284	pay 0.0142% / 4h	6m 30s	$3K	$664	10x
Short	Bybit BASEDUSDT	0.06807	0.0100	get 0.0050% / 4h	6m 30s	$2.1M	$706K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Orderly. 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 OrderlybpFee BybitbpOrdersPrice spread, now −0.161%Rate

Funding earned: −$38.56
Price spread: −0.161% → 0.000%: −$16.13
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$71.7
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Bybit: live order book, just now. Net counts fees only.

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 Orderly no order-book sample	—	—	—	—	—
Sell Bybit live order book, just now	5.14 bp	66.7 bp −$67	976.1 bp −$9,761	doesn't fit	doesn't fit

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

BASED on 15 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 BASEDUSDT	+0.0100%	4h	0.06821	+0.037%	$29K	$6K	5x	as long as short
Binance BASEDUSDT	+0.0100%	4h	0.06819	+0.015%	$4.2M	$3.1M	25x	as long as short
Bybit BASEDUSDTshort	+0.0100%	4h	0.06807	−0.161%	$2.1M	$706K	25x
OKX BASED-USDT-SWAP	+0.0100%	4h	0.06814	−0.059%	$2.7M	$3.8M	20x	as long as short
Gate BASED_USDT	+0.0100%	4h	0.06815	−0.044%	$534K	$599K	50x	as long as short
MEXC BASED_USDT	+0.0100%	4h	0.06822	+0.059%	$4.9M	$596K	50x	as long as short
KuCoin BASEDUSDTM	+0.0100%	4h	0.06816	−0.029%	$578K	$72K	20x	as long as short
Bitget BASEDUSDT	+0.0100%	4h	0.06824	+0.088%	$1.3M	$369K	25x	as long as short
BingX BASED-USDT	+0.0100%	4h	0.06815	−0.044%	—	$1.7M	—	as long as short
Variational Omni BASED	+0.0100%	4h	0.06810	−0.114%	$94K	$15K	—	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT BASED_USDT_Perp	+0.0100%	4h	0.06782	−0.535%	$95K	$382K	10x	as long as short
SunX BASED-USDT	+0.0100%	4h	0.06820	+0.029%	$1K	$901K	20x	as long as short
Extended BASED-USD	+0.0104%	1h	0.06817	−0.013%	$2K	$201K	5x	as long as short
BloFin BASED-USDT	+0.0133%	4h	0.06827	+0.132%	$258K	$47K	25x	as long as short
Orderly PERP_BASED_USDClong	+0.0284%	4h	0.06818	long leg	$3K	$664	10x