Funding you earn now, next payment 00:00 UTC+0.0295%/8h= +32.3% APRnext payment +$1.47 per $10,000 · paid last 24h +0.026%
Price spread now: Binance against Bybit−0.014%7-day average +0.037% · you buy dearer than you sell
Net, funding: paid 7d − costs−$105as in the Funding arb table
Net, price: spread back to 7d avg − costs−$126as in the Price arb table
costs, in and out, $10k−$1211.210% of the position
Funding, last 7 days+0.162%+$16 on $10k
+Price spread, last 7 days+0.007%+$1 · spread now −0.014%, 7d avg +0.037%
=Funding pays, the price is against you. Binance is 0.051% cheaper against Bybit than usual: you would sell low and buy high (spread −0.014% now, against its 7-day average of +0.037%). If the spread goes back, that is −$5 on $10k: about 14 hours of funding at the current rate (+$9 a day). At the pace of the last 7 days (+0.162% in total) that is about 2.2 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.162% in total (about 8.4% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.47 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit ENSOUSDT | 1.0185 | −0.0195 | get 0.0097% / 4h | 7m 26s | $1.8M | $2.4M | 25x |
| Short | Binance ENSOUSDT | 1.0184 | 0.0100 | get 0.0050% / 4h | 7m 26s | $5.6M | $12.0M | 50x |
Bybit ENSOUSDT
Binance ENSOUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance 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
- $61.88
- Price spread: −0.014% → +0.037%
- −$5.05
- Slippage, 4 orders
- −$100.02
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$64.19
- Costs to cover
- 1.210%
- Break-even
- 14.3 days
Slippage from Bybit: live order book, 4 min ago; Binance: live order book, 3 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, 4 min ago | 4.42 bp | 42.8 bp −$43 | doesn't fit | doesn't fit | doesn't fit |
| Sell Binance live order book, 3 min ago | 0.98 bp | 20.9 bp −$21 | 78.0 bp −$780 | doesn't fit | doesn't fit |
ENSO 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 | |
|---|---|---|---|---|---|---|---|---|
| Bybit ENSOUSDTlong | −0.0195% | 4h | 1.0185 | long leg | $1.8M | $2.4M | 25x | |
| Variational Omni ENSO | −0.0171% | 4h | 1.0169 | −0.157% | $29K | $31K | — | as long as short |
| OKX ENSO-USDT-SWAP | −0.0088% | 4h | 1.0167 | −0.177% | $1.0M | $4.3M | 50x | as long as short |
| BloFin ENSO-USDT | +0.0065% | 4h | 1.0180 | −0.049% | $278K | $9K | 50x | as long as short |
| Aster ENSOUSDT | +0.0100% | 4h | 1.0195 | +0.100% | $65K | $4K | 5x | as long as short |
| Binance ENSOUSDTshort | +0.0100% | 4h | 1.0184 | −0.014% | $5.6M | $12.0M | 50x | |
| Gate ENSO_USDT | +0.0100% | 4h | 1.0186 | +0.010% | $324K | $190K | 25x | as long as short |
| MEXC ENSO_USDT | +0.0100% | 4h | 1.0185 | 0.000% | $679K | $248K | 20x | as long as short |
| KuCoin ENSOUSDTM | +0.0100% | 4h | 1.0196 | +0.108% | $954K | $93K | 30x | as long as short |
| Bitget ENSOUSDT | +0.0100% | 4h | 1.0200 | +0.147% | $867K | $1.2M | 25x | as long as short |
Variational Omni ENSO
OKX ENSO-USDT-SWAP
BloFin ENSO-USDT
Aster ENSOUSDT
Gate ENSO_USDT
MEXC ENSO_USDT
KuCoin ENSOUSDTM
Bitget ENSOUSDTShow all 11 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX ENSO-USDT | +0.0100% | 4h | 1.0182 | −0.029% | — | $6.7M | — | as long as short |
BingX ENSO-USDT