DRIFT

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0051%/8h= +5.6% APRnext payment +$0.25 per $10,000 · paid last 24h 0.000%

Price spread now: BloFin against Binance−0.042%7-day average +0.007% · you buy dearer than you sell

Net, funding: paid 7d − costs−$138as in the Funding arb table

Net, price: spread back to 7d avg − costs−$140as in the Price arb table

costs, in and out, $10k−$1361.356% of the position

Long on Binance Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.024%−$2 on $10k

Price spread, last 4 days (all we have)−1.130%−$113 · spread now −0.042%, 7d avg +0.007%

Together, before fees−1.154%−$115 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.048% cheaper against Binance than usual: you would sell low and buy high (spread −0.042% now, against its 7-day average of +0.007%). If the spread goes back, that is −$5 on $10k: about 3.2 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance DRIFTUSDT	0.01788	0.0100	pay 0.0050% / 4h	29m 05s	$2.4M	$6.6M	20x
Short	BloFin DRIFT-USDT	0.01787	0.0151	get 0.0075% / 4h	29m 05s	$159K	$10K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Binance. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BinancebpFee BloFinbpOrdersPrice spread, now −0.042%Rate

Funding earned: $10.66
Price spread: −0.042% → +0.007%: −$4.83
Slippage, 4 orders: −$113.56
Fee Binance: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$129.73
Costs to cover: 1.356%
Break-even: 92.2 days

Slippage from Binance: live order book, 10 min ago; BloFin: live order book, 68 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, 10 min ago	2.80 bp	43.5 bp −$44	457.5 bp −$4,575	doesn't fit	doesn't fit
Sell BloFin live order book, 68 min ago	11.51 bp	33.8 bp −$34	140.4 bp −$1,404	doesn't fit	doesn't fit

DRIFT on 10 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
Injective DRIFT/USDC PERP	+0.0033%	1h	0.01591	−11.005%	—	$9K	5.5x	as long as short
Binance DRIFTUSDTlong	+0.0100%	4h	0.01788	long leg	$2.4M	$6.6M	20x
Bybit DRIFTUSDT	+0.0100%	4h	0.01787	−0.036%	$2.4M	$2.8M	20x	as long as short
Gate DRIFT_USDT	+0.0100%	4h	0.01786	−0.097%	$126K	$237K	10x	as long as short
MEXC DRIFT_USDT	+0.0100%	4h	0.01788	+0.014%	$424K	$167K	20x	as long as short
KuCoin DRIFTUSDTM	+0.0100%	4h	0.01784	−0.209%	$693K	$122K	20x	as long as short
Bitget DRIFTUSDT	+0.0100%	4h	0.01788	+0.014%	$551K	$363K	10x	as long as short
BingX DRIFT-USDT	+0.0100%	4h	0.01787	−0.042%	—	$6.6M	—	as long as short
Variational Omni DRIFT	+0.0100%	4h	0.01770	−1.010%	$24K	$6K	—	as long as short
BloFin DRIFT-USDTshort	+0.0151%	4h	0.01787	−0.042%	$159K	$10K	20x