Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.005%
Price spread now: Bybit against Binance+0.192%7-day average +0.066% · you sell dearer than you buy
Net, funding: paid 7d − costs−$157as in the Funding arb table
Net, price: spread back to 7d avg − costs−$144as in the Price arb table
costs, in and out, $10k−$1561.565% of the position
Funding, last 7 days−0.006%−$1 on $10k
+Price spread, last 4 days (all we have)−0.144%−$14 · spread now +0.192%, 7d avg +0.066%
=Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.125% dearer against Binance than usual: you sell high and buy low, +$13 on $10k if it goes back to its 7-day average of +0.066%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance COWUSDT | 0.1590 | 0.0100 | pay 0.0050% / 4h | 1h 42m | $2.1M | $2.8M | 50x |
| Short | Bybit COWUSDT | 0.1593 | 0.0100 | get 0.0050% / 4h | 1h 42m | $943K | $466K | 25x |
Binance COWUSDT
Bybit COWUSDTFunding 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
- $0
- Price spread: +0.192% → +0.066%
- $12.54
- Slippage, 4 orders
- −$135.49
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$143.95
- Costs to cover
- 1.565%
- Break-even
- never at this rate
Slippage from Binance: live order book, 8 min ago; Bybit: live order book, 63 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, 8 min ago | 3.13 bp | 25.0 bp −$25 | 116.9 bp −$1,169 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 63 min ago | 7.23 bp | 53.7 bp −$54 | 221.1 bp −$2,211 | doesn't fit | doesn't fit |
COW 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 | |
|---|---|---|---|---|---|---|---|---|
| Aster COWUSDT | +0.0100% | 4h | 0.1594 | +0.211% | $29K | $12K | 5x | as long as short |
| Binance COWUSDTlong | +0.0100% | 4h | 0.1590 | long leg | $2.1M | $2.8M | 50x | |
| Bybit COWUSDTshort | +0.0100% | 4h | 0.1593 | +0.192% | $943K | $466K | 25x | |
| Gate COW_USDT | +0.0100% | 4h | 0.1591 | +0.035% | $117K | $60K | 50x | as long as short |
| MEXC COW_USDT | +0.0100% | 4h | 0.1590 | −0.028% | $569K | $189K | 20x | as long as short |
| KuCoin COWUSDTM | +0.0100% | 4h | 0.1591 | +0.035% | $226K | $41K | 20x | as long as short |
| Bitget COWUSDT | +0.0100% | 4h | 0.1591 | +0.035% | $379K | $195K | 50x | as long as short |
| BingX COW-USDT | +0.0100% | 4h | 0.1593 | +0.160% | — | $6.6M | — | as long as short |
| Variational Omni COW | +0.0100% | 4h | 0.1592 | +0.118% | $6K | $592 | — | as long as short |
| BloFin COW-USDT | +0.0129% | 4h | 0.1591 | +0.035% | $134K | $30K | 75x | as long as short |
Aster COWUSDT
Gate COW_USDT
MEXC COW_USDT
KuCoin COWUSDTM
Bitget COWUSDT
BingX COW-USDT
Variational Omni COW
BloFin COW-USDTShow all 11 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_COWUSD | +0.0955% | 1h | 0.1591 | +0.004% | $5K | $212 | 10x | as long as short |
Kraken Futures PF_COWUSD