Funding you earn now, next payment 04:00 UTC−0.1328%/8h= −145.5% APRnext payment −$6.64 per $10,000 · paid last 24h −0.013%
Price spread now: Binance against Bybit−0.021%7-day average −0.071% · you buy dearer than you sell
Net, funding: paid 7d − costs−$169as in the Funding arb table
Net, price: spread back to 7d avg − costs−$209as in the Price arb table
costs, in and out, $10k−$2142.139% of the position
Funding, last 7 days+0.449%+$45 on $10k
+Price spread, last 4 days (all we have)−0.005%−$1 · spread now −0.021%, 7d avg −0.071%
=The price spread pays, funding is against you. Binance is 0.050% dearer against Bybit than usual: you sell high and buy low (spread −0.021% now, against its 7-day average of −0.071%): +$5 on $10k if it goes back. Holding the pair costs −$40 a day in funding at the current rate, which eats that in about 3 hours. Mind the row above: over the last 7 days funding on this pair paid +0.449%, so the current rate has only just turned against you.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.449% in total (about 23.4% a year). A funding rate is set anew for every payment; at this rate the next one is about −$6.64 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 INXUSDT | 0.006177 | 0.2083 | pay 0.1041% / 4h | 2h 56m | $787K | $360K | 13x |
| Short | Binance INXUSDT | 0.006176 | 0.0754 | get 0.0377% / 4h | 2h 56m | $2.0M | $1.4M | 25x |
Bybit INXUSDT
Binance INXUSDTFunding 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
- −$278.98
- Price spread: −0.021% → −0.071%
- $5
- Slippage, 4 orders
- −$192.88
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$487.86
- Costs to cover
- 2.139%
- Break-even
- never at this rate
Slippage from Bybit: live order book, 8 min ago; Binance: live order book, 8 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, 8 min ago | 4.01 bp | 70.5 bp −$70 | doesn't fit | doesn't fit | doesn't fit |
| Sell Binance live order book, 8 min ago | 3.21 bp | 37.1 bp −$37 | 231.1 bp −$2,311 | doesn't fit | doesn't fit |
INX 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 | |
|---|---|---|---|---|---|---|---|---|
| Coinbase International INX-PERP-INTX | −0.1776% | 1h | 0.006083 | −1.522% | $5K | $6K | 50x | as long as short |
| Bitget INXUSDT | +0.0100% | 4h | 0.006172 | −0.081% | $387K | $86K | 25x | as long as short |
| Gate INX_USDT | +0.0404% | 4h | 0.006170 | −0.113% | $1.6M | $67K | 25x | as long as short |
| Deribit INX_USDC-PERPETUAL | +0.0561% | 1h | 0.006170 | −0.113% | $56K | $20K | 10x | as long as short |
| Binance INXUSDTshort | +0.0754% | 4h | 0.006176 | −0.021% | $2.0M | $1.4M | 25x | |
| Extended INX-USD | +0.0760% | 1h | 0.006174 | −0.048% | $1K | $109K | 5x | as long as short |
| MEXC INX_USDT | +0.0762% | 4h | 0.006171 | −0.097% | $804K | $187K | 50x | as long as short |
| Aster INXUSDT | +0.1303% | 4h | 0.006178 | +0.009% | $18K | $10K | 5x | as long as short |
| KuCoin INXUSDTM | +0.1804% | 4h | 0.006189 | +0.194% | $294K | $80K | 20x | as long as short |
| BingX INX-USDT | +0.2074% | 4h | 0.006157 | −0.324% | — | $6.5M | — | as long as short |
Coinbase International INX-PERP-INTX
Bitget INXUSDT
Gate INX_USDT
Deribit INX_USDC-PERPETUAL
Extended INX-USD
MEXC INX_USDT
Aster INXUSDT
KuCoin INXUSDTM
BingX INX-USDTShow all 11 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit INXUSDTlong | +0.2083% | 4h | 0.006177 | long leg | $787K | $360K | 13x |