Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.005%
Price spread now: Gate against Bybit−0.188%7-day average −0.097% · you buy dearer than you sell
Net, funding: paid 7d − costs−$323as in the Funding arb table
Net, price: spread back to 7d avg − costs−$314as in the Price arb table
costs, in and out, $10k−$3053.052% of the position
Funding, last 7 days−0.175%−$18 on $10k
+Price spread, last 4 days (all we have)+0.227%+$23 · spread now −0.188%, 7d avg −0.097%
=Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Gate is 0.091% cheaper against Bybit than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of −0.097%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit COWUSDT | 0.1594 | 0.0100 | pay 0.0050% / 4h | 2h 21m | $971K | $497K | 25x |
| Short | Gate COW_USDT | 0.1591 | 0.0100 | get 0.0050% / 4h | 2h 21m | $121K | $76K | 50x |
Bybit COWUSDT
Gate COW_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Gate 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
- $0
- Price spread: −0.188% → −0.097%
- −$9.1
- Slippage, 4 orders
- −$279.21
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Net
- −$314.31
- Costs to cover
- 3.052%
- Break-even
- never at this rate
Slippage from Bybit: live order book, 26 min ago; Gate: live order book, 24 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, 26 min ago | 7.54 bp | 134.1 bp −$134 | doesn't fit | doesn't fit | doesn't fit |
| Sell Gate live order book, 24 min ago | 12.56 bp | 43.8 bp −$44 | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| Aster COWUSDT | +0.0100% | 4h | 0.1592 | −0.114% | $30K | $13K | 5x | as long as short |
| Binance COWUSDT | +0.0100% | 4h | 0.1593 | −0.059% | $2.1M | $3.2M | 50x | as long as short |
| Bybit COWUSDTlong | +0.0100% | 4h | 0.1594 | long leg | $971K | $497K | 25x | |
| Gate COW_USDTshort | +0.0100% | 4h | 0.1591 | −0.188% | $121K | $76K | 50x | |
| MEXC COW_USDT | +0.0100% | 4h | 0.1593 | −0.063% | $563K | $205K | 20x | as long as short |
| KuCoin COWUSDTM | +0.0100% | 4h | 0.1591 | −0.188% | $217K | $42K | 20x | as long as short |
| Bitget COWUSDT | +0.0100% | 4h | 0.1592 | −0.125% | $372K | $231K | 50x | as long as short |
| BingX COW-USDT | +0.0100% | 4h | 0.1592 | −0.125% | — | $6.6M | — | as long as short |
| Variational Omni COW | +0.0100% | 4h | 0.1590 | −0.224% | $8K | $3K | — | as long as short |
| BloFin COW-USDT | +0.0102% | 4h | 0.1590 | −0.251% | $134K | $31K | 75x | as long as short |
Aster COWUSDT
Binance COWUSDT
MEXC COW_USDT
KuCoin COWUSDTM
Bitget COWUSDT
BingX COW-USDT
Variational Omni COW
BloFin COW-USDTShow all 11 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_COWUSD | +0.0664% | 1h | 0.1592 | −0.122% | $5K | $199 | 10x | as long as short |
Kraken Futures PF_COWUSD