Funding you earn now, next payment 00:00 UTC−0.0438%/8h= −48.0% APRnext payment −$2.19 per $10,000 · paid last 24h −0.031%
Price spread now: Binance against Bybit−0.024%7-day average −0.109% · you buy dearer than you sell
Net, funding: paid 7d − costs−$188as in the Funding arb table
Net, price: spread back to 7d avg − costs−$176as in the Price arb table
costs, in and out, $10k−$1851.847% of the position
Funding, last 7 days−0.033%−$3 on $10k
+Price spread, last 7 days−0.111%−$11 · spread now −0.024%, 7d avg −0.109%
=The price spread pays, funding is against you. Binance is 0.085% dearer against Bybit than usual: you sell high and buy low (spread −0.024% now, against its 7-day average of −0.109%): +$9 on $10k if it goes back. Holding the pair costs −$13 a day in funding at the current rate, which eats that in about 16 hours. At the pace of the last 7 days (−0.033% in total) that is about 18 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.033% in total (about -1.7% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.19 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 FORMUSDT | 0.3615 | 0.0538 | pay 0.0269% / 4h | 1h 21m | $2.3M | $11.5M | 20x |
| Short | Binance FORMUSDT | 0.3614 | 0.0100 | get 0.0050% / 4h | 1h 21m | $19.2M | $135.6M | 50x |
Bybit FORMUSDT
Binance FORMUSDTFunding 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
- −$91.97
- Price spread: −0.024% → −0.109%
- $8.52
- Slippage, 4 orders
- −$163.65
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$268.1
- Costs to cover
- 1.847%
- Break-even
- never at this rate
Slippage from Bybit: live order book, 2 min ago; Binance: live order book, 7 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, 2 min ago | 4.15 bp | 87.0 bp −$87 | 622.9 bp −$6,229 | doesn't fit | doesn't fit |
| Sell Binance live order book, 7 min ago | 1.38 bp | 10.1 bp −$10 | 25.8 bp −$258 | 357.6 bp −$35.8K | doesn't fit |
FORM 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 | |
|---|---|---|---|---|---|---|---|---|
| gTrade (Gains Network) FORM/USD | L −0.0007% / S +0.0008% | 1h | 0.3612 | −0.080% | — | — | — | as long as short |
| BingX FORM-USDT | +0.0070% | 4h | 0.3615 | −0.006% | — | $3.5M | — | as long as short |
| Aster FORMUSDT | +0.0100% | 4h | 0.3616 | +0.031% | $49K | $646K | 5x | as long as short |
| Binance FORMUSDTshort | +0.0100% | 4h | 0.3614 | −0.024% | $19.2M | $135.6M | 50x | |
| Gate FORM_USDT | +0.0100% | 4h | 0.3615 | −0.006% | $827K | $4.1M | 50x | as long as short |
| MEXC FORM_USDT | +0.0100% | 4h | 0.3613 | −0.061% | $1.8M | $8.3M | 100x | as long as short |
| KuCoin FORMUSDTM | +0.0100% | 4h | 0.3618 | +0.077% | $378K | $849K | 30x | as long as short |
| Bitget FORMUSDT | +0.0100% | 4h | 0.3612 | −0.089% | $1.1M | $7.8M | 50x | as long as short |
| BloFin FORM-USDT | +0.0147% | 4h | 0.3614 | −0.033% | $1.0M | $358K | 50x | as long as short |
| Bybit FORMUSDTlong | +0.0538% | 4h | 0.3615 | long leg | $2.3M | $11.5M | 20x |
gTrade (Gains Network) FORM/USD
BingX FORM-USDT
Aster FORMUSDT
Gate FORM_USDT
MEXC FORM_USDT
KuCoin FORMUSDTM
Bitget FORMUSDT
BloFin FORM-USDT