Funding you earn now, next payment 04:00 UTC−0.5326%/8h= −583.2% APRnext payment −$26.63 per $10,000 · paid last 24h −0.013%
Price spread now: Bybit against BingX+0.429%7-day average +0.047% · you sell dearer than you buy
Net, funding: paid 7d − costs−$176as in the Funding arb table
Net, price: spread back to 7d avg − costs−$136as in the Price arb table
costs, in and out, $10k−$1741.743% of the position
Funding, last 7 days−0.013%−$1 on $10k
+Price spread, last 4 days (all we have)−0.381%−$38 · spread now +0.429%, 7d avg +0.047%
=The price spread pays, funding is against you. Bybit is 0.382% dearer against BingX than usual: you sell high and buy low (spread +0.429% now, against its 7-day average of +0.047%): +$38 on $10k if it goes back. Holding the pair costs −$160 a day in funding at the current rate, which eats that in about 6 hours. At the pace of the last 7 days (−0.013% in total) that is about 7 months.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.013% in total (about -0.7% a year). A funding rate is set anew for every payment; at this rate the next one is about −$26.63 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 | BingX KERNEL-USDT | 0.04900 | −1.5034 | get 0.7517% / 4h | 3h 45m | — | $6.7M | — |
| Short | Bybit KERNELUSDT | 0.04921 | −2.0360 | pay 1.0180% / 4h | 3h 45m | $1.0M | $5.4M | 20x |
BingX KERNEL-USDT
Bybit KERNELUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against BingX. 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
- −$1,118.38
- Price spread: +0.429% → +0.047%
- $38.18
- Slippage, 4 orders
- −$153.35
- Fee BingX: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$1,254.56
- Costs to cover
- 1.743%
- Break-even
- never at this rate
Slippage from BingX: live order book, 3 min ago; Bybit: live order book, 3 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 BingX live order book, 3 min ago | 9.17 bp | 42.9 bp −$43 | 117.2 bp −$1,172 | 648.3 bp −$64.8K | doesn't fit |
| Sell Bybit live order book, 3 min ago | 12.23 bp | 39.5 bp −$39 | 437.1 bp −$4,371 | 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 | −2.0360% | 4h | 0.04921 | +0.429% | $1.0M | $5.4M | 20x | |
| BingX KERNEL-USDTlong | −1.5034% | 4h | 0.04900 | long leg | — | $6.7M | — | |
| Gate KERNEL_USDT | −0.8356% | 4h | 0.04893 | −0.143% | $144K | $567K | 50x | as long as short |
| Variational Omni KERNEL | −0.4028% | 4h | 0.04953 | +1.086% | $8K | $14K | — | as long as short |
| KuCoin KERNELUSDTM | −0.3114% | 4h | 0.04904 | +0.082% | $200K | $308K | 30x | as long as short |
| Binance KERNELUSDT | −0.2996% | 4h | 0.04892 | −0.155% | $1.7M | $22.0M | 25x | as long as short |
| MEXC KERNEL_USDT | −0.2862% | 4h | 0.04913 | +0.265% | $1.2M | $772K | 20x | as long as short |
| Bitget KERNELUSDT | −0.2010% | 4h | 0.04939 | +0.796% | $424K | $2.7M | 25x | as long as short |
Gate KERNEL_USDT
Variational Omni KERNEL
KuCoin KERNELUSDTM
Binance KERNELUSDT
MEXC KERNEL_USDT
Bitget KERNELUSDT