Funding you earn now, next payment 00:00 UTC−0.0601%/8h= −65.8% APRnext payment −$3.01 per $10,000 · paid last 24h −0.060%
Price spread now: Bybit against Binance+0.220%7-day average +0.063% · you sell dearer than you buy
Net, funding: paid 7d − costs−$805as in the Funding arb table
Net, price: spread back to 7d avg − costs−$780as in the Price arb table
costs, in and out, $10k−$7957.954% of the position
Funding, last 7 days−0.101%−$10 on $10k
+Price spread, last 4 days (all we have)−0.105%−$10 · spread now +0.220%, 7d avg +0.063%
=The price spread pays, funding is against you. Bybit is 0.157% dearer against Binance than usual: you sell high and buy low (spread +0.220% now, against its 7-day average of +0.063%): +$16 on $10k if it goes back. Holding the pair costs −$18 a day in funding at the current rate, which eats that in about 21 hours. At the pace of the last 7 days (−0.101% in total) that is about 11 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.101% in total (about -5.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$3.01 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 | Binance GWEIUSDT | 0.02272 | 0.0701 | pay 0.0351% / 4h | 2h 39m | $2.3M | $2.5M | 50x |
| Short | Bybit GWEIUSDT | 0.02277 | 0.0100 | get 0.0050% / 4h | 2h 39m | $370K | $114K | 25x |
Binance GWEIUSDT
Bybit GWEIUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Binance. 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
- −$126.24
- Price spread: +0.220% → +0.063%
- $15.74
- Slippage, 4 orders
- −$774.42
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$905.92
- Costs to cover
- 7.954%
- Break-even
- never at this rate
Slippage from Binance: live order book, 11 min ago; Bybit: live order book, 44 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, 11 min ago | 2.20 bp | 31.9 bp −$32 | 214.4 bp −$2,144 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 44 min ago | 4.39 bp | 317.2 bp −$317 | doesn't fit | doesn't fit | doesn't fit |
GWEI 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 GWEIUSDTshort | +0.0100% | 4h | 0.02277 | +0.220% | $370K | $114K | 25x | |
| KuCoin GWEIUSDTM | +0.0100% | 4h | 0.02267 | −0.211% | $450K | $16K | 20x | as long as short |
| Variational Omni GWEI | +0.0100% | 4h | 0.02278 | +0.243% | $4K | $55 | — | as long as short |
| Gate GWEI_USDT | +0.0422% | 4h | 0.02271 | −0.022% | $374K | $385K | 10x | as long as short |
| Bitget GWEIUSDT | +0.0516% | 4h | 0.02271 | −0.044% | $1.9M | $200K | 20x | as long as short |
| BloFin GWEI-USDT | +0.0669% | 4h | 0.02275 | +0.132% | $170K | $28K | 50x | as long as short |
| BingX GWEI-USDT | +0.0696% | 4h | 0.02273 | +0.044% | — | $1.6M | — | as long as short |
| MEXC GWEI_USDT | +0.0700% | 4h | 0.02272 | 0.000% | $100K | $86K | 20x | as long as short |
| Binance GWEIUSDTlong | +0.0701% | 4h | 0.02272 | long leg | $2.3M | $2.5M | 50x | |
| Extended GWEI-USD | +0.0704% | 1h | 0.02272 | −0.014% | $3K | $142K | 5x | as long as short |
KuCoin GWEIUSDTM
Variational Omni GWEI
Gate GWEI_USDT
Bitget GWEIUSDT
BloFin GWEI-USDT
BingX GWEI-USDT
MEXC GWEI_USDT
Extended GWEI-USDShow all 11 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster GWEIUSDT | +0.1645% | 4h | 0.02271 | −0.051% | $19K | $8K | 10x | as long as short |
Aster GWEIUSDT