Funding you earn now, next payment 04:00 UTC−0.0054%/8h= −5.9% APRnext payment −$0.27 per $10,000 · paid last 24h +0.142%
Price spread now: Bybit against KuCoin+0.211%7-day average −0.088% · you sell dearer than you buy
Net, funding: paid 7d − costs−$428as in the Funding arb table
Net, price: spread back to 7d avg − costs−$398as in the Price arb table
costs, in and out, $10k−$4284.275% of the position
Funding, last 7 days−0.003%$0 on $10k
+Price spread, last 4 days (all we have)−0.296%−$30 · spread now +0.211%, 7d avg −0.088%
=The price spread pays, funding is against you. Bybit is 0.300% dearer against KuCoin than usual: you sell high and buy low (spread +0.211% now, against its 7-day average of −0.088%): +$30 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 18 days. At the pace of the last 7 days (−0.003% in total) that is about years.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | KuCoin IRYSUSDTM | 0.01610 | 0.0154 | pay 0.0077% / 4h | 24m 48s | $717K | $6.4M | 20x |
| Short | Bybit IRYSUSDT | 0.01613 | 0.0100 | get 0.0050% / 4h | 24m 48s | $822K | $207K | 20x |
KuCoin IRYSUSDTM
Bybit IRYSUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against KuCoin. 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
- −$11.34
- Price spread: +0.211% → −0.088%
- $29.97
- Slippage, 4 orders
- −$404.53
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$408.91
- Costs to cover
- 4.275%
- Break-even
- never at this rate
Slippage from KuCoin: live order book, 3 min ago; Bybit: live order book, 30 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 KuCoin live order book, 3 min ago | 16.51 bp | 165.9 bp −$166 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bybit live order book, 30 min ago | 5.18 bp | 105.1 bp −$105 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Bybit IRYSUSDTshort | +0.0100% | 4h | 0.01613 | +0.211% | $822K | $207K | 20x | |
| OKX IRYS-USDT-SWAP | +0.0100% | 4h | 0.01615 | +0.329% | $622K | $130K | 10x | as long as short |
| Gate IRYS_USDT | +0.0100% | 4h | 0.01615 | +0.329% | $244K | $11K | 20x | as long as short |
| Bitget IRYSUSDT | +0.0100% | 4h | 0.01619 | +0.578% | $935K | $104K | 20x | as long as short |
| Variational Omni IRYS | +0.0100% | 4h | 0.01603 | −0.419% | $8K | $6 | — | as long as short |
| BloFin IRYS-USDT | +0.0105% | 4h | 0.01612 | +0.143% | $99K | $19K | 20x | as long as short |
| BingX IRYS-USDT | +0.0126% | 4h | 0.01615 | +0.329% | — | $1.3M | — | as long as short |
| MEXC IRYS_USDT | +0.0128% | 4h | 0.01616 | +0.391% | $248K | $98K | 20x | as long as short |
| Extended IRYS-USD | +0.0152% | 1h | 0.01614 | +0.295% | $3K | $83K | 5x | as long as short |
| KuCoin IRYSUSDTMlong | +0.0154% | 4h | 0.01610 | long leg | $717K | $6.4M | 20x |
OKX IRYS-USDT-SWAP
Gate IRYS_USDT
Bitget IRYSUSDT
Variational Omni IRYS
BloFin IRYS-USDT
BingX IRYS-USDT
MEXC IRYS_USDT
Extended IRYS-USDShow all 12 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance IRYSUSDT | +0.0196% | 4h | 0.01619 | +0.601% | $1.8M | $879K | 20x | as long as short |
| Aster IRYSUSDT | +0.0850% | 4h | 0.01610 | +0.025% | $1K | $2K | 5x | as long as short |
Binance IRYSUSDT
Aster IRYSUSDT