Funding you earn now, next payment 04:00 UTC+0.0219%/8h= +23.9% APRnext payment +$1.09 per $10,000 · paid last 24h +0.045%
Price spread now: Binance against Gate+0.051%7-day average +0.132% · you sell dearer than you buy
Net, funding: paid 7d − costs−$1,166as in the Funding arb table
Net, price: spread back to 7d avg − costs−$1,181as in the Price arb table
costs, in and out, $10k−$1,17211.724% of the position
Funding, last 7 days+0.067%+$7 on $10k
+Price spread, last 4 days (all we have)−0.023%−$2 · spread now +0.051%, 7d avg +0.132%
=Funding pays, the price is against you. Binance is 0.082% cheaper against Gate than usual: you would sell low and buy high (spread +0.051% now, against its 7-day average of +0.132%). If the spread goes back, that is −$8 on $10k: about 30 hours of funding at the current rate (+$7 a day). At the pace of the last 7 days (+0.067% in total) that is about 8.6 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.067% in total (about 3.5% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.09 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 | Gate BILL_USDT | 0.01386 | 0.0100 | pay 0.0050% / 4h | 3h 43m | $280K | $82K | 20x |
| Short | Binance BILLUSDT | 0.01387 | 0.0319 | get 0.0159% / 4h | 3h 43m | $2.5M | $3.6M | 20x |
Gate BILL_USDT
Binance BILLUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Gate. 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
- $45.92
- Price spread: +0.051% → +0.132%
- −$8.15
- Slippage, 4 orders
- −$1,147.35
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$1,134.58
- Costs to cover
- 11.724%
- Break-even
- 179.9 days
Slippage from Gate: live order book, 23 min ago; Binance: live order book, 8 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 Gate live order book, 23 min ago | 7.21 bp | 826.6 bp −$827 | 80682.2 bp −$806.8K | doesn't fit | doesn't fit |
| Sell Binance live order book, 8 min ago | 3.60 bp | 28.1 bp −$28 | 136.4 bp −$1,364 | doesn't fit | doesn't fit |
BILL on 16 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 BILLUSDT | +0.0100% | 4h | 0.01386 | +0.020% | $2K | $4K | 5x | as long as short |
| Bybit BILLUSDT | +0.0100% | 4h | 0.01386 | 0.000% | $1.3M | $937K | 20x | as long as short |
| OKX BILL-USDT-SWAP | +0.0100% | 4h | 0.01387 | +0.072% | $1.0M | $2.5M | 20x | as long as short |
| Gate BILL_USDTlong | +0.0100% | 4h | 0.01386 | long leg | $280K | $82K | 20x | |
| Bitget BILLUSDT | +0.0100% | 4h | 0.01386 | 0.000% | $631K | $847K | 20x | as long as short |
| SunX BILL-USDT | +0.0100% | 4h | 0.01389 | +0.216% | $2K | $1.1M | 20x | as long as short |
| BloFin BILL-USDT | +0.0109% | 4h | 0.01389 | +0.216% | $145K | $19K | 20x | as long as short |
| Backpack BILL_USDC_PERP | +0.0230% | 1h | 0.01386 | 0.000% | $22K | $926 | 5x | as long as short |
| MEXC BILL_USDT | +0.0318% | 4h | 0.01387 | +0.072% | $1.0M | $320K | 50x | as long as short |
| Binance BILLUSDTshort | +0.0319% | 4h | 0.01387 | +0.051% | $2.5M | $3.6M | 20x |
Aster BILLUSDT
Bybit BILLUSDT
OKX BILL-USDT-SWAP
Bitget BILLUSDT
SunX BILL-USDT
BloFin BILL-USDT
Backpack BILL_USDC_PERP
MEXC BILL_USDTShow all 16 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Extended BILL-USD | +0.0320% | 1h | 0.01386 | +0.018% | $2K | $235K | 5x | as long as short |
| BingX BILL-USDT | +0.0322% | 4h | 0.01388 | +0.144% | — | $1.7M | — | as long as short |
| Coinbase International BILL-PERP-INTX | +0.0632% | 1h | 0.01386 | −0.007% | $47K | $100K | 50x | as long as short |
| HTX BILL-USDT | +0.0710% | 4h | 0.01391 | +0.361% | $17K | $8K | 20x | as long as short |
| KuCoin BILLUSDTM | +0.0978% | 4h | 0.01388 | +0.108% | $443K | $278K | 20x | as long as short |
| Deribit BILL_USDC-PERPETUAL | +0.2062% | 1h | 0.01387 | +0.101% | $108K | $14K | 10x | as long as short |
Extended BILL-USD
BingX BILL-USDT
Coinbase International BILL-PERP-INTX
HTX BILL-USDT
KuCoin BILLUSDTM
Deribit BILL_USDC-PERPETUAL