Funding you earn now, next payment 12:00 UTC−0.0011%/8h= −1.2% APRnext payment −$0.05 per $10,000 · paid last 24h −0.003%
Price spread now: BloFin against Bybit+0.075%112s7-day average −0.073% · you sell dearer than you buy
Net, funding: paid 7d − costs−$140as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$1401.397% of the position
Funding, last 7 days+0.002%$0 on $10k
+Price spread, last 4 days (all we have)−0.173%−$17 · spread now +0.075%, 7d avg −0.073%
=The price spread pays, funding is against you. BloFin is 0.148% dearer against Bybit than usual: you sell high and buy low (spread +0.075% now, against its 7-day average of −0.073%): +$15 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 46 days. The two prices were read 112 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit COWUSDT | 0.1598 | 0.0100 | pay 0.0050% / 4h | 11m 21s | $970K | $456K | 25x |
| Short | BloFin COW-USDT | 0.1599 | 0.0089 | get 0.0045% / 4h | 11m 21s | $136K | $31K | 75x |
Bybit COWUSDT
BloFin COW-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BloFin 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
- −$2.24
- Price spread: +0.075% → −0.073%
- $14.82
- Slippage, 4 orders
- −$116.69
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee BloFin: 6 bp × 2 orders
- −$12
- Net
- −$127.11
- Costs to cover
- 1.397%
- Break-even
- never at this rate
Slippage from Bybit: live order book, 27 min ago; BloFin: live order book, 13 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, 27 min ago | 7.47 bp | 35.3 bp −$35 | 194.2 bp −$1,942 | doesn't fit | doesn't fit |
| Sell BloFin live order book, 13 min ago | 9.37 bp | 33.8 bp −$34 | 66.4 bp −$664 | doesn't fit | doesn't fit |
COW on 11 exchanges
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 | |
|---|---|---|---|---|---|---|---|---|
| BingX COW-USDT | +0.0070% | 4h | 0.1597 | −0.050% | — | $6.6M | — | as long as short |
| BloFin COW-USDTshort | +0.0089% | 4h | 0.1599 | +0.075% | $136K | $31K | 75x | |
| Aster COWUSDT | +0.0100% | 4h | 0.1597 | −0.020% | $30K | $8K | 5x | as long as short |
| Binance COWUSDT | +0.0100% | 4h | 0.1597 | −0.050% | $2.1M | $2.8M | 50x | as long as short |
| Bybit COWUSDTlong | +0.0100% | 4h | 0.1598 | long leg | $970K | $456K | 25x | |
| Gate COW_USDT | +0.0100% | 4h | 0.1599 | +0.075% | $121K | $66K | 50x | as long as short |
| MEXC COW_USDT | +0.0100% | 4h | 0.1597 | −0.050% | $559K | $192K | 20x | as long as short |
| KuCoin COWUSDTM | +0.0100% | 4h | 0.1596 | −0.113% | $215K | $36K | 20x | as long as short |
| Bitget COWUSDT | +0.0100% | 4h | 0.1598 | +0.013% | $379K | $200K | 50x | as long as short |
| Variational Omni COW | +0.0100% | 4h | 0.1601 | +0.231% | $8K | $3K | — | as long as short |
BingX COW-USDT
Aster COWUSDT
Binance COWUSDT
Gate COW_USDT
MEXC COW_USDT
KuCoin COWUSDTM
Bitget COWUSDT
Variational Omni COWShow all 11 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_COWUSD | +0.0251% | 1h | 0.1596 | −0.113% | $5K | $95 | 10x | as long as short |
Kraken Futures PF_COWUSD