DRIFT

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0046%/8h= −5.1% APRnext payment −$0.23 per $10,000 · paid last 24h +0.004%

Price spread now: Binance against BloFin+0.108%61s7-day average −0.007% · you sell dearer than you buy

Net, funding: paid 7d − costs−$137as 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−$1391.392% of the position

Long on BloFin Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.027%+$3 on $10k

Price spread, last 3 days (all we have)+1.064%+$106 · spread now +0.108%, 7d avg −0.007%

Together, before fees+1.091%+$109 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Binance is 0.114% dearer against BloFin than usual: you sell high and buy low (spread +0.108% now, against its 7-day average of −0.007%): +$11 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 8.2 days. The two prices were read 61 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	BloFin DRIFT-USDT	0.01689	0.0146	pay 0.0073% / 4h	1h 54m	$151K	$10K	20x
Short	Binance DRIFTUSDT	0.01691	0.0100	get 0.0050% / 4h	1h 54m	$2.3M	$7.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against BloFin. 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 BloFinbpFee BinancebpOrdersPrice spread, now +0.108%Rate

Funding earned: −$9.75
Price spread: +0.108% → −0.007%: $11.43
Slippage, 4 orders: −$117.24
Fee BloFin: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$137.56
Costs to cover: 1.392%
Break-even: never at this rate

Slippage from BloFin: live order book, 20 min ago; Binance: live order book, 15 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, 20 min ago	8.83 bp	33.5 bp −$34	148.0 bp −$1,480	doesn't fit	doesn't fit
Sell Binance live order book, 15 min ago	2.96 bp	33.3 bp −$33	241.7 bp −$2,417	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	−5.802%	—	$9K	5.5x	as long as short
Binance DRIFTUSDTshort	+0.0100%	4h	0.01691	+0.108%	$2.3M	$7.2M	20x
Bybit DRIFTUSDT	+0.0100%	4h	0.01685	−0.213%	$2.3M	$3.1M	20x	as long as short
Gate DRIFT_USDT	+0.0100%	4h	0.01684	−0.296%	$127K	$279K	10x	as long as short
MEXC DRIFT_USDT	+0.0100%	4h	0.01686	−0.178%	$401K	$179K	20x	as long as short
KuCoin DRIFTUSDTM	+0.0100%	4h	0.01683	−0.355%	$670K	$137K	20x	as long as short
Bitget DRIFTUSDT	+0.0100%	4h	0.01688	−0.059%	$524K	$551K	10x	as long as short
BingX DRIFT-USDT	+0.0100%	4h	0.01689	0.000%	—	$6.7M	—	as long as short
Variational Omni DRIFT	+0.0100%	4h	0.01683	−0.334%	$23K	$6K	—	as long as short
BloFin DRIFT-USDTlong	+0.0146%	4h	0.01689	long leg	$151K	$10K	20x