Funding you earn now, next payment 04:00 UTC+0.0247%/8h= +27.1% APRnext payment +$1.24 per $10,000 · paid last 24h +0.045%
Price spread now: Binance against Bybit+0.072%7-day average +0.151% · you sell dearer than you buy
Net, funding: paid 7d − costs−$172as in the Funding arb table
Net, price: spread back to 7d avg − costs−$190as in the Price arb table
costs, in and out, $10k−$1821.825% of the position
Funding, last 7 days+0.105%+$10 on $10k
+Price spread, last 7 days+0.081%+$8 · spread now +0.072%, 7d avg +0.151%
=Funding pays, the price is against you. Binance is 0.079% cheaper against Bybit than usual: you would sell low and buy high (spread +0.072% now, against its 7-day average of +0.151%). If the spread goes back, that is −$8 on $10k: about 26 hours of funding at the current rate (+$7 a day). At the pace of the last 7 days (+0.105% in total) that is about 5.3 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.105% in total (about 5.5% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.24 per $10,000. 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 BILLUSDT | 0.01383 | 0.0100 | pay 0.0050% / 4h | 2h 07m | $1.3M | $959K | 20x |
| Short | Binance BILLUSDT | 0.01384 | 0.0347 | get 0.0174% / 4h | 2h 07m | $2.5M | $3.8M | 20x |
Bybit BILLUSDT
Binance BILLUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Bybit. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $51.88
- Price spread: +0.072% → +0.151%
- −$7.89
- Slippage, 4 orders
- −$161.49
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$138.5
- Costs to cover
- 1.825%
- Break-even
- 25.7 days
Slippage from Bybit: live order book, 4 min ago; Binance: 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 Bybit live order book, 4 min ago | 7.27 bp | 68.0 bp −$68 | doesn't fit | doesn't fit | doesn't fit |
| Sell Binance live order book, 14 min ago | 7.26 bp | 21.4 bp −$21 | 140.4 bp −$1,404 | doesn't fit | doesn't fit |
BILL 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 | |
|---|---|---|---|---|---|---|---|---|
| Bybit BILLUSDTlong | +0.0100% | 4h | 0.01383 | long leg | $1.3M | $959K | 20x | |
| OKX BILL-USDT-SWAP | +0.0100% | 4h | 0.01384 | +0.072% | $1.0M | $2.7M | 20x | as long as short |
| Gate BILL_USDT | +0.0100% | 4h | 0.01382 | −0.072% | $280K | $83K | 20x | as long as short |
| Bitget BILLUSDT | +0.0100% | 4h | 0.01383 | 0.000% | $637K | $1.0M | 20x | as long as short |
| SunX BILL-USDT | +0.0100% | 4h | 0.01383 | 0.000% | $2K | $1.1M | 20x | as long as short |
| Aster BILLUSDT | +0.0132% | 4h | 0.01381 | −0.114% | $2K | $4K | 5x | as long as short |
| Backpack BILL_USDC_PERP | +0.0314% | 1h | 0.01382 | −0.072% | $21K | $939 | 5x | as long as short |
| MEXC BILL_USDT | +0.0338% | 4h | 0.01381 | −0.145% | $1.0M | $336K | 50x | as long as short |
| BingX BILL-USDT | +0.0340% | 4h | 0.01381 | −0.145% | — | $1.7M | — | as long as short |
| Extended BILL-USD | +0.0344% | 1h | 0.01382 | −0.063% | $1K | $225K | 5x | as long as short |
OKX BILL-USDT-SWAP
Gate BILL_USDT
Bitget BILLUSDT
SunX BILL-USDT
Aster BILLUSDT
Backpack BILL_USDC_PERP
MEXC BILL_USDT
BingX BILL-USDT
Extended BILL-USDShow all 15 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance BILLUSDTshort | +0.0347% | 4h | 0.01384 | +0.072% | $2.5M | $3.8M | 20x | |
| HTX BILL-USDT | +0.0510% | 4h | 0.01378 | −0.362% | $13K | $22K | 20x | as long as short |
| Coinbase International BILL-PERP-INTX | +0.0632% | 1h | 0.01375 | −0.578% | $46K | $51K | 50x | as long as short |
| KuCoin BILLUSDTM | +0.1460% | 4h | 0.01383 | −0.022% | $454K | $298K | 20x | as long as short |
| Deribit BILL_USDC-PERPETUAL | +0.1996% | 1h | 0.01384 | +0.036% | $108K | $14K | 10x | as long as short |
HTX BILL-USDT
Coinbase International BILL-PERP-INTX
KuCoin BILLUSDTM
Deribit BILL_USDC-PERPETUAL