Funding you earn now, next payment 08:00 UTC+0.0095%/8h= +10.4% APRnext payment +$0.47 per $10,000 · paid last 24h +0.005%
Price spread now: Bybit against BloFin+0.043%7-day average +0.070% · you sell dearer than you buy
Net, funding: paid 7d − costs−$144as in the Funding arb table
Net, price: spread back to 7d avg − costs−$147as in the Price arb table
costs, in and out, $10k−$1441.439% of the position
Funding, last 7 days0.000%$0 on $10k
+Price spread, last 4 days (all we have)+0.054%+$5 · spread now +0.043%, 7d avg +0.070%
=Funding pays, the price is against you. Bybit is 0.027% cheaper against BloFin than usual: you would sell low and buy high (spread +0.043% now, against its 7-day average of +0.070%). If the spread goes back, that is −$3 on $10k: about 23 hours of funding at the current rate (+$3 a day). At the pace of the last 7 days (0.000% in total) that is about years.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | BloFin COW-USDT | 0.1610 | 0.0065 | pay 0.0033% / 4h | 1h 58m | $133K | $30K | 75x |
| Short | Bybit COWUSDT | 0.1611 | 0.0160 | get 0.0080% / 4h | 1h 58m | $956K | $463K | 25x |
BloFin COW-USDT
Bybit COWUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against BloFin. 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
- $19.92
- Price spread: +0.043% → +0.070%
- −$2.7
- Slippage, 4 orders
- −$120.9
- Fee BloFin: 6 bp × 2 orders
- −$12
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$126.68
- Costs to cover
- 1.439%
- Break-even
- 51.5 days
Slippage from BloFin: live order book, 8 min ago; Bybit: live order book, 46 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 BloFin live order book, 8 min ago | 3.11 bp | 17.6 bp −$18 | 75.3 bp −$753 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 46 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 | |
|---|---|---|---|---|---|---|---|---|
| BloFin COW-USDTlong | +0.0065% | 4h | 0.1610 | long leg | $133K | $30K | 75x | |
| Aster COWUSDT | +0.0100% | 4h | 0.1610 | +0.031% | $30K | $12K | 5x | as long as short |
| Binance COWUSDT | +0.0100% | 4h | 0.1611 | +0.062% | $2.1M | $2.8M | 50x | as long as short |
| Gate COW_USDT | +0.0100% | 4h | 0.1608 | −0.124% | $119K | $58K | 50x | as long as short |
| MEXC COW_USDT | +0.0100% | 4h | 0.1609 | −0.062% | $582K | $186K | 20x | as long as short |
| KuCoin COWUSDTM | +0.0100% | 4h | 0.1608 | −0.124% | $237K | $39K | 20x | as long as short |
| Bitget COWUSDT | +0.0100% | 4h | 0.1609 | −0.062% | $384K | $194K | 50x | as long as short |
| Variational Omni COW | +0.0100% | 4h | 0.1611 | +0.050% | $6K | $592 | — | as long as short |
| Bybit COWUSDTshort | +0.0160% | 4h | 0.1611 | +0.043% | $956K | $463K | 25x | |
| BingX COW-USDT | +0.0198% | 4h | 0.1609 | −0.062% | — | $6.6M | — | as long as short |
Aster COWUSDT
Binance COWUSDT
Gate COW_USDT
MEXC COW_USDT
KuCoin COWUSDTM
Bitget COWUSDT
Variational Omni COW
BingX COW-USDTShow all 11 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_COWUSD | +0.0943% | 1h | 0.1610 | −0.013% | $5K | $212 | 10x | as long as short |
Kraken Futures PF_COWUSD