Funding you earn now, next payment 04:00 UTC+0.0036%/8h= +3.9% APRnext payment +$0.18 per $10,000 · paid last 24h +0.184%
Price spread now: Bybit against Binance−0.278%7-day average −0.191% · you buy dearer than you sell
Net, funding: paid 7d − costs−$273as in the Funding arb table
Net, price: spread back to 7d avg − costs−$323as in the Price arb table
costs, in and out, $10k−$3143.142% of the position
Funding, last 7 days+0.413%+$41 on $10k
+Price spread, last 4 days (all we have)+0.131%+$13 · spread now −0.278%, 7d avg −0.191%
=Funding pays, the price is against you. Bybit is 0.087% cheaper against Binance than usual: you would sell low and buy high (spread −0.278% now, against its 7-day average of −0.191%). If the spread goes back, that is −$9 on $10k: about 8.1 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.413% in total) that is about 36 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance IRYSUSDT | 0.01613 | 0.0462 | pay 0.0231% / 4h | 3h 41m | $1.8M | $789K | 20x |
| Short | Bybit IRYSUSDT | 0.01608 | 0.0498 | get 0.0249% / 4h | 3h 41m | $793K | $154K | 20x |
Binance IRYSUSDT
Bybit IRYSUSDTFunding 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
- $7.52
- Price spread: −0.278% → −0.191%
- −$8.72
- Slippage, 4 orders
- −$293.21
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$315.42
- Costs to cover
- 3.142%
- Break-even
- 300.7 days
Slippage from Binance: live order book, 8 min ago; Bybit: live order book, 29 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, 8 min ago | 3.11 bp | 59.2 bp −$59 | 1067.1 bp −$10.7K | doesn't fit | doesn't fit |
| Sell Bybit live order book, 29 min ago | 4.07 bp | 113.9 bp −$114 | doesn't fit | doesn't fit | doesn't fit |
IRYS on 12 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 | |
|---|---|---|---|---|---|---|---|---|
| OKX IRYS-USDT-SWAP | +0.0100% | 4h | 0.01609 | −0.222% | $616K | $100K | 10x | as long as short |
| Gate IRYS_USDT | +0.0100% | 4h | 0.01612 | −0.036% | $242K | $8K | 20x | as long as short |
| Bitget IRYSUSDT | +0.0100% | 4h | 0.01608 | −0.284% | $919K | $83K | 20x | as long as short |
| BingX IRYS-USDT | +0.0390% | 4h | 0.01612 | −0.036% | — | $1.2M | — | as long as short |
| MEXC IRYS_USDT | +0.0446% | 4h | 0.01611 | −0.098% | $252K | $118K | 20x | as long as short |
| Binance IRYSUSDTlong | +0.0462% | 4h | 0.01613 | long leg | $1.8M | $789K | 20x | |
| Extended IRYS-USD | +0.0464% | 1h | 0.01613 | +0.002% | $4K | $113K | 5x | as long as short |
| Variational Omni IRYS | +0.0480% | 4h | 0.01608 | −0.268% | $8K | $6 | — | as long as short |
| BloFin IRYS-USDT | +0.0497% | 4h | 0.01609 | −0.222% | $96K | $19K | 20x | as long as short |
| Bybit IRYSUSDTshort | +0.0498% | 4h | 0.01608 | −0.278% | $793K | $154K | 20x |
OKX IRYS-USDT-SWAP
Gate IRYS_USDT
Bitget IRYSUSDT
BingX IRYS-USDT
MEXC IRYS_USDT
Extended IRYS-USD
Variational Omni IRYS
BloFin IRYS-USDTShow all 12 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin IRYSUSDTM | +0.0744% | 4h | 0.01613 | +0.014% | $681K | $6.5M | 20x | as long as short |
| Aster IRYSUSDT | +0.0866% | 4h | 0.01611 | −0.069% | $1K | $5K | 5x | as long as short |
KuCoin IRYSUSDTM
Aster IRYSUSDT