Funding you earn now, next payment 08:00 UTC−0.0097%/8h= −10.7% APRnext payment −$0.49 per $10,000 · paid last 24h −0.001%
Price spread now: Bybit against Gate−0.115%7-day average −0.009% · you buy dearer than you sell
Net, funding: paid 7d − costs−$89as in the Funding arb table
Net, price: spread back to 7d avg − costs−$100as in the Price arb table
costs, in and out, $10k−$900.897% of the position
Funding, last 7 days+0.010%+$1 on $10k
+Price spread, last 7 days+0.093%+$9 · spread now −0.115%, 7d avg −0.009%
=Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Bybit is 0.105% cheaper against Gate than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of −0.009%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Gate ETHFI_USDT | 0.6971 | 0.0100 | pay 0.0050% / 4h | 43m 34s | $1.7M | $2.0M | 75x |
| Short | Bybit ETHFIUSDT | 0.6963 | 0.0003 | get 0.0001% / 4h | 43m 34s | $17.2M | $13.1M | 25x |
Gate ETHFI_USDT
Bybit ETHFIUSDTFunding 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
- −$20.43
- Price spread: −0.115% → −0.009%
- −$10.53
- Slippage, 4 orders
- −$63.68
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$120.64
- Costs to cover
- 0.897%
- Break-even
- never at this rate
Slippage from Gate: live order book, 4 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, 4 min ago | 2.15 bp | 24.0 bp −$24 | 249.1 bp −$2,491 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 5 min ago | 0.72 bp | 14.2 bp −$14 | 41.6 bp −$416 | doesn't fit | doesn't fit |
ETHFI on 24 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 | |
|---|---|---|---|---|---|---|---|---|
| HTX ETHFI-USDT | −0.0424% | 4h | 0.6954 | −0.244% | $83K | $168K | 20x | as long as short |
| Deribit ETHFI_USDC-PERPETUAL | −0.0323% | 1h | 0.6971 | 0.000% | $41K | $11K | 10x | as long as short |
| Orderly PERP_ETHFI_USDC | −0.0290% | 4h | 0.6965 | −0.086% | $16K | $1K | 10x | as long as short |
| Variational Omni ETHFI | −0.0126% | 4h | 0.6961 | −0.141% | $917K | $785K | — | as long as short |
| Paradex ETHFI-USD-PERP | −0.0058% | 8h | 0.6966 | −0.079% | $6K | — | 5x | as long as short |
| Extended ETHFI-USD | −0.0032% | 1h | 0.6963 | −0.114% | $95K | $503K | 10x | as long as short |
| Binance ETHFIUSDT | −0.0030% | 4h | 0.6964 | −0.098% | $24.2M | $36.0M | 75x | as long as short |
| MEXC ETHFI_USDT | −0.0028% | 4h | 0.6964 | −0.100% | $15.8M | $4.2M | 125x | as long as short |
| Bybit ETHFIUSDTshort | +0.0003% | 4h | 0.6963 | −0.115% | $17.2M | $13.1M | 25x | |
| Injective ETHFI/USDC PERP | +0.0033% | 1h | 0.7240 | +3.859% | $321 | $51K | 5.5x | as long as short |
HTX ETHFI-USDT
Deribit ETHFI_USDC-PERPETUAL
Orderly PERP_ETHFI_USDC
Variational Omni ETHFI
Paradex ETHFI-USD-PERP
Extended ETHFI-USD
Binance ETHFIUSDT
MEXC ETHFI_USDT
Injective ETHFI/USDC PERPShow all 24 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aevo ETHFI-PERP | +0.0072% | 1h | 0.6965 | −0.086% | $8K | — | 3x | as long as short |
| Lighter ETHFI | +0.0096% | 1h | 0.6970 | −0.014% | $1.1M | $828K | 5x | as long as short |
| Hyperliquid ETHFI | +0.0100% | 1h | 0.6965 | −0.090% | $16.7M | $8.7M | 5x | as long as short |
| Aster ETHFIUSDT | +0.0100% | 4h | 0.6972 | +0.014% | $178K | $263K | 10x | as long as short |
| OKX ETHFI-USDT-SWAP | +0.0100% | 4h | 0.6970 | −0.014% | $5.1M | $12.6M | 20x | as long as short |
| Gate ETHFI_USDTlong | +0.0100% | 4h | 0.6971 | long leg | $1.7M | $2.0M | 75x | |
| KuCoin ETHFIUSDTM | +0.0100% | 4h | 0.6965 | −0.086% | $1.2M | $223K | 50x | as long as short |
| Bitget ETHFIUSDT | +0.0100% | 4h | 0.6964 | −0.100% | $6.1M | $4.8M | 75x | as long as short |
| BingX ETHFI-USDC | +0.0100% | 4h | 0.6968 | −0.043% | — | $1.2M | — | as long as short |
| Polymarket Perps ETHFI-USD | +0.0100% | 1h | 0.6969 | −0.026% | $52K | $149K | 5x | as long as short |
| SunX ETHFI-USDT | +0.0100% | 4h | 0.6957 | −0.201% | $1K | $1.1M | 20x | as long as short |
| BloFin ETHFI-USDT | +0.0215% | 4h | 0.6955 | −0.230% | $1.2M | $240K | 75x | as long as short |
| Coinbase International ETHFI-PERP-INTX | +0.0272% | 1h | 0.6990 | +0.273% | $32K | $6K | 50x | as long as short |
| Kraken Futures PF_ETHFIUSD | +0.0819% | 1h | 0.6977 | +0.085% | $291K | $285K | 20x | as long as short |
Aevo ETHFI-PERP
Lighter ETHFI
Hyperliquid ETHFI
Aster ETHFIUSDT
OKX ETHFI-USDT-SWAP
KuCoin ETHFIUSDTM
Bitget ETHFIUSDT
BingX ETHFI-USDC
Polymarket Perps ETHFI-USD
SunX ETHFI-USDT
BloFin ETHFI-USDT
Coinbase International ETHFI-PERP-INTX
Kraken Futures PF_ETHFIUSD