Funding you earn now, next payment 08:00 UTC−0.0636%/8h= −69.6% APRnext payment −$3.18 per $10,000 · paid last 24h −0.245%
Price spread now: Bybit against Binance−0.034%7-day average −0.084% · you buy dearer than you sell
Net, funding: paid 7d − costs−$241as in the Funding arb table
Net, price: spread back to 7d avg − costs−$162as in the Price arb table
costs, in and out, $10k−$1671.668% of the position
Funding, last 7 days−0.738%−$74 on $10k
+Price spread, last 4 days (all we have)−0.085%−$8 · spread now −0.034%, 7d avg −0.084%
=The price spread pays, funding is against you. Bybit is 0.051% dearer against Binance than usual: you sell high and buy low (spread −0.034% now, against its 7-day average of −0.084%): +$5 on $10k if it goes back. Holding the pair costs −$19 a day in funding at the current rate, which eats that in about 6 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance BTWUSDT | 0.8265 | 0.0989 | pay 0.0495% / 4h | 3h 33m | $115.3M | $180.8M | 10x |
| Short | Bybit BTWUSDT | 0.8262 | 0.0353 | get 0.0177% / 4h | 3h 33m | $16.1M | $41.3M | 10x |
Binance BTWUSDT
Bybit BTWUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Binance. 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
- −$133.53
- Price spread: −0.034% → −0.084%
- $5.05
- Slippage, 4 orders
- −$145.84
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$295.32
- Costs to cover
- 1.668%
- Break-even
- never at this rate
Slippage from Binance: live order book, 10 min ago; Bybit: live order book, 1 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 Binance live order book, 10 min ago | 2.42 bp | 24.2 bp −$24 | 174.7 bp −$1,747 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 1 min ago | 2.66 bp | 52.6 bp −$53 | doesn't fit | doesn't fit | doesn't fit |
BTW on 11 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 | |
|---|---|---|---|---|---|---|---|---|
| KuCoin BTWUSDTM | +0.0100% | 4h | 0.8258 | −0.091% | $7.4M | $4.9M | 10x | as long as short |
| HTX BTW-USDT | +0.0100% | 4h | 0.8323 | +0.702% | $214K | $793K | 10x | as long as short |
| Bybit BTWUSDTshort | +0.0353% | 4h | 0.8262 | −0.034% | $16.1M | $41.3M | 10x | |
| Bitget BTWUSDT | +0.0640% | 4h | 0.8273 | +0.090% | $26.0M | $15.2M | 5x | as long as short |
| Aster BTWUSDT | +0.0661% | 4h | 0.8266 | +0.016% | $2.3M | $3.2M | 5x | as long as short |
| BingX BTW-USDT | +0.0934% | 4h | 0.8265 | −0.002% | — | $4.3M | — | as long as short |
| edgeX BTWUSDC | +0.0982% | 4h | 0.8246 | −0.227% | $340K | $506K | 10x | as long as short |
| MEXC BTW_USDT | +0.0986% | 4h | 0.8262 | −0.039% | $9.5M | $6.5M | 20x | as long as short |
| Binance BTWUSDTlong | +0.0989% | 4h | 0.8265 | long leg | $115.3M | $180.8M | 10x | |
| Extended BTW-USD | +0.0992% | 1h | 0.8263 | −0.030% | $35K | $15K | 5x | as long as short |
KuCoin BTWUSDTM
HTX BTW-USDT
Bitget BTWUSDT
Aster BTWUSDT
BingX BTW-USDT
edgeX BTWUSDC
MEXC BTW_USDT
Extended BTW-USDShow all 11 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate BTW_USDT | +0.1392% | 4h | 0.8262 | −0.041% | $3.4M | $17.9M | 10x | as long as short |
Gate BTW_USDT