Funding you earn now, next payment 04:00 UTC−0.5551%/8h= −607.9% APRnext payment −$27.76 per $10,000 · paid last 24h −0.338%
Price spread now: Bybit against Binance+0.581%7-day average +0.060% · you sell dearer than you buy
Net, funding: paid 7d − costs−$126as in the Funding arb table
Net, price: spread back to 7d avg − costs−$41as in the Price arb table
costs, in and out, $10k−$930.931% of the position
Funding, last 7 days−0.330%−$33 on $10k
+Price spread, last 7 days−0.569%−$57 · spread now +0.581%, 7d avg +0.060%
=The price spread pays, funding is against you. Bybit is 0.521% dearer against Binance than usual: you sell high and buy low (spread +0.581% now, against its 7-day average of +0.060%): +$52 on $10k if it goes back. Holding the pair costs −$167 a day in funding at the current rate, which eats that in about 8 hours. At the pace of the last 7 days (−0.330% 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 -0.330% in total (about -17.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$27.76 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 KERNELUSDT | 0.06367 | −1.5963 | get 0.7981% / 4h | 8m 46s | $4.0M | $77.0M | 25x |
| Short | Bybit KERNELUSDT | 0.06404 | −2.1514 | pay 1.0757% / 4h | 8m 46s | $2.3M | $15.9M | 20x |
Binance KERNELUSDT
Bybit KERNELUSDTFunding 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
- −$1,165.8
- Price spread: +0.581% → +0.060%
- $52.15
- Slippage, 4 orders
- −$72.07
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$1,206.73
- Costs to cover
- 0.931%
- Break-even
- never at this rate
Slippage from Binance: live order book, 4 min ago; Bybit: live order book, 5 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, 4 min ago | 1.58 bp | 14.6 bp −$15 | 73.3 bp −$733 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 5 min ago | 5.45 bp | 26.0 bp −$26 | 142.2 bp −$1,422 | doesn't fit | doesn't fit |
KERNEL on 8 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 KERNELUSDTshort | −2.1514% | 4h | 0.06404 | +0.581% | $2.3M | $15.9M | 20x | |
| Variational Omni KERNEL | −2.1200% | 4h | 0.06368 | +0.013% | $13K | $42K | — | as long as short |
| BingX KERNEL-USDT | −1.9744% | 4h | 0.06370 | +0.047% | — | $7.4M | — | as long as short |
| Binance KERNELUSDTlong | −1.5963% | 4h | 0.06367 | long leg | $4.0M | $77.0M | 25x | |
| MEXC KERNEL_USDT | −1.5962% | 4h | 0.06352 | −0.236% | $1.3M | $2.7M | 20x | as long as short |
| KuCoin KERNELUSDTM | −1.5710% | 4h | 0.06333 | −0.534% | $329K | $568K | 30x | as long as short |
| Bitget KERNELUSDT | −1.5534% | 4h | 0.06347 | −0.314% | $1.1M | $8.6M | 25x | as long as short |
| Gate KERNEL_USDT | −1.4384% | 4h | 0.06366 | −0.016% | $384K | $2.1M | 50x | as long as short |
Variational Omni KERNEL
BingX KERNEL-USDT
MEXC KERNEL_USDT
KuCoin KERNELUSDTM
Bitget KERNELUSDT
Gate KERNEL_USDT