Funding you earn now, next payment 04:00 UTC−1.8350%/8h= −2009.3% APRnext payment −$91.75 per $10,000 · paid last 24h −0.873%
Price spread now: Bybit against Bitget−0.364%7-day average +0.055% · you buy dearer than you sell
Net, funding: paid 7d − costs−$334as in the Funding arb table
Net, price: spread back to 7d avg − costs−$288as in the Price arb table
costs, in and out, $10k−$2462.462% of the position
Funding, last 7 days−0.873%−$87 on $10k
+Price spread, last 4 days (all we have)+0.437%+$44 · spread now −0.364%, 7d avg +0.055%
=Both sides work against this trade now: funding costs −$550 a day on $10k at the current rate, and Bybit is 0.419% cheaper against Bitget than usual: you would sell low and buy high (−$42 if the spread goes back to its 7-day average of +0.055%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.873% in total (about -45.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$91.75 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 | 0.04939 | −0.2010 | get 0.1005% / 4h | 3h 45m | $424K | $2.7M | 25x |
| Short | Bybit KERNELUSDT | 0.04921 | −2.0360 | pay 1.0180% / 4h | 3h 45m | $1.0M | $5.4M | 20x |
Bitget KERNELUSDT
Bybit KERNELUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit 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
- −$3,853.42
- Price spread: −0.364% → +0.055%
- −$41.92
- Slippage, 4 orders
- −$223.22
- Fee Bitget: 6 bp × 2 orders
- −$12
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$4,141.56
- Costs to cover
- 2.462%
- Break-even
- never at this rate
Slippage from Bitget: live order book, 2 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 Bitget live order book, 2 min ago | 9.16 bp | 66.5 bp −$67 | 399.6 bp −$3,996 | doesn't fit | 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 | −0.364% | $1.0M | $5.4M | 20x | |
| BingX KERNEL-USDT | −1.5034% | 4h | 0.04900 | −0.790% | — | $6.7M | — | as long as short |
| Gate KERNEL_USDT | −0.8356% | 4h | 0.04893 | −0.931% | $144K | $567K | 50x | as long as short |
| Variational Omni KERNEL | −0.4028% | 4h | 0.04953 | +0.288% | $8K | $14K | — | as long as short |
| KuCoin KERNELUSDTM | −0.3114% | 4h | 0.04904 | −0.709% | $200K | $308K | 30x | as long as short |
| Binance KERNELUSDT | −0.2996% | 4h | 0.04892 | −0.944% | $1.7M | $22.0M | 25x | as long as short |
| MEXC KERNEL_USDT | −0.2862% | 4h | 0.04913 | −0.526% | $1.2M | $772K | 20x | as long as short |
| Bitget KERNELUSDTlong | −0.2010% | 4h | 0.04939 | long leg | $424K | $2.7M | 25x |
BingX KERNEL-USDT
Gate KERNEL_USDT
Variational Omni KERNEL
KuCoin KERNELUSDTM
Binance KERNELUSDT
MEXC KERNEL_USDT