Funding you earn now, next payment 08:00 UTC+0.0070%/8h= +7.7% APRnext payment +$0.35 per $10,000 · paid last 24h +0.005%
Price spread now: Bybit against Gate+0.215%7-day average +0.097% · you sell dearer than you buy
Net, funding: paid 7d − costs−$168as in the Funding arb table
Net, price: spread back to 7d avg − costs−$173as in the Price arb table
costs, in and out, $10k−$1851.853% of the position
Funding, last 7 days+0.175%+$18 on $10k
+Price spread, last 4 days (all we have)−0.212%−$21 · spread now +0.215%, 7d avg +0.097%
=Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Bybit is 0.118% dearer against Gate than usual: you sell high and buy low: +$12 more if the spread 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 | Gate COW_USDT | 0.1582 | 0.0100 | pay 0.0050% / 4h | 2h 40m | $117K | $55K | 50x |
| Short | Bybit COWUSDT | 0.1585 | 0.0170 | get 0.0085% / 4h | 2h 40m | $943K | $456K | 25x |
Gate COW_USDT
Bybit COWUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Gate. 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
- $14.72
- Price spread: +0.215% → +0.097%
- $11.8
- Slippage, 4 orders
- −$159.26
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$158.74
- Costs to cover
- 1.853%
- Break-even
- 82.5 days
Slippage from Gate: live order book, 65 min ago; Bybit: live order book, 5 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 Gate live order book, 65 min ago | 12.64 bp | 38.2 bp −$38 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bybit live order book, 5 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 | 0.1583 | +0.075% | $29K | $13K | 5x | as long as short |
| Binance COWUSDT | +0.0100% | 4h | 0.1584 | +0.101% | $2.0M | $2.6M | 50x | as long as short |
| Gate COW_USDTlong | +0.0100% | 4h | 0.1582 | long leg | $117K | $55K | 50x | |
| MEXC COW_USDT | +0.0100% | 4h | 0.1581 | −0.063% | $578K | $179K | 20x | as long as short |
| KuCoin COWUSDTM | +0.0100% | 4h | 0.1582 | 0.000% | $238K | $38K | 20x | as long as short |
| Bitget COWUSDT | +0.0100% | 4h | 0.1582 | 0.000% | $379K | $188K | 50x | as long as short |
| Variational Omni COW | +0.0100% | 4h | 0.1587 | +0.319% | $6K | $692 | — | as long as short |
| BloFin COW-USDT | +0.0146% | 4h | 0.1583 | +0.063% | $132K | $29K | 75x | as long as short |
| Bybit COWUSDTshort | +0.0170% | 4h | 0.1585 | +0.215% | $943K | $456K | 25x | |
| BingX COW-USDT | +0.0298% | 4h | 0.1582 | 0.000% | — | $6.6M | — | as long as short |
Aster COWUSDT
Binance COWUSDT
MEXC COW_USDT
KuCoin COWUSDTM
Bitget COWUSDT
Variational Omni COW
BloFin COW-USDT
BingX COW-USDTShow all 11 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_COWUSD | +0.0749% | 1h | 0.1585 | +0.209% | $4K | $212 | 10x | as long as short |
Kraken Futures PF_COWUSD