Funding you earn now, next payment 04:00 UTC−0.2018%/8h= −220.9% APRnext payment −$10.09 per $10,000 · paid last 24h −0.527%
Price spread now: Binance against Bitget−0.232%7-day average −0.029% · you buy dearer than you sell
Net, funding: paid 7d − costs−$167as in the Funding arb table
Net, price: spread back to 7d avg − costs−$133as in the Price arb table
costs, in and out, $10k−$1131.131% of the position
Funding, last 7 days−0.535%−$53 on $10k
+Price spread, last 4 days (all we have)+0.181%+$18 · spread now −0.232%, 7d avg −0.029%
=Both sides work against this trade now: funding costs −$61 a day on $10k at the current rate, and Binance is 0.203% cheaper against Bitget than usual: you would sell low and buy high (−$20 if the spread goes back to its 7-day average of −0.029%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.535% in total (about -27.9% a year). A funding rate is set anew for every payment; at this rate the next one is about −$10.09 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 | Bitget KERNELUSDT | 0.06576 | −0.7586 | get 0.3793% / 4h | 2h 12m | $768K | $4.8M | 25x |
| Short | Binance KERNELUSDT | 0.06561 | −0.9604 | pay 0.4802% / 4h | 2h 12m | $3.8M | $43.0M | 25x |
Bitget KERNELUSDT
Binance KERNELUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Bitget. 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
- −$423.73
- Price spread: −0.232% → −0.029%
- −$20.35
- Slippage, 4 orders
- −$91.13
- Fee Bitget: 6 bp × 2 orders
- −$12
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$557.2
- Costs to cover
- 1.131%
- Break-even
- never at this rate
Slippage from Bitget: live order book, 5 min ago; Binance: live order book, 14 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 Bitget live order book, 5 min ago | 9.87 bp | 33.9 bp −$34 | doesn't fit | doesn't fit | doesn't fit |
| Sell Binance live order book, 14 min ago | 3.86 bp | 30.3 bp −$30 | 128.8 bp −$1,288 | 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 KERNELUSDT | −2.0624% | 4h | 0.06591 | +0.228% | $1.9M | $9.8M | 20x | as long as short |
| BingX KERNEL-USDT | −1.8669% | 4h | 0.06579 | +0.046% | — | $7.0M | — | as long as short |
| Variational Omni KERNEL | −1.2327% | 4h | 0.06680 | +1.578% | $11K | $24K | — | as long as short |
| Gate KERNEL_USDT | −1.1118% | 4h | 0.06557 | −0.289% | $257K | $1.0M | 50x | as long as short |
| KuCoin KERNELUSDTM | −1.0528% | 4h | 0.06559 | −0.259% | $264K | $422K | 30x | as long as short |
| Binance KERNELUSDTshort | −0.9604% | 4h | 0.06561 | −0.232% | $3.8M | $43.0M | 25x | |
| MEXC KERNEL_USDT | −0.9486% | 4h | 0.06561 | −0.228% | $1.4M | $1.6M | 20x | as long as short |
| Bitget KERNELUSDTlong | −0.7586% | 4h | 0.06576 | long leg | $768K | $4.8M | 25x |
Bybit KERNELUSDT
BingX KERNEL-USDT
Variational Omni KERNEL
Gate KERNEL_USDT
KuCoin KERNELUSDTM
MEXC KERNEL_USDT