Funding you earn now, next payment 04:00 UTC+1.1021%/8h= +1206.8% APRnext payment +$55.10 per $10,000 · paid last 24h +0.346%
Price spread now: Binance against Bybit−0.459%7-day average −0.098% · you buy dearer than you sell
Net, funding: paid 7d − costs−$98as in the Funding arb table
Net, price: spread back to 7d avg − costs−$167as in the Price arb table
costs, in and out, $10k−$1311.313% of the position
Funding, last 7 days+0.338%+$34 on $10k
+Price spread, last 4 days (all we have)+0.360%+$36 · spread now −0.459%, 7d avg −0.098%
=Funding pays, the price is against you. Binance is 0.361% cheaper against Bybit than usual: you would sell low and buy high (spread −0.459% now, against its 7-day average of −0.098%). If the spread goes back, that is −$36 on $10k: about 3 hours of funding at the current rate (+$331 a day). At the pace of the last 7 days (+0.338% in total) that is about 7.5 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.338% in total (about 17.6% a year). A funding rate is set anew for every payment; at this rate the next one is about +$55.10 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 | Bybit KERNELUSDT | 0.06591 | −2.0624 | get 1.0312% / 4h | 2h 12m | $1.9M | $9.8M | 20x |
| Short | Binance KERNELUSDT | 0.06561 | −0.9604 | pay 0.4802% / 4h | 2h 12m | $3.8M | $43.0M | 25x |
Bybit KERNELUSDT
Binance KERNELUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Bybit. 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
- $2,314.34
- Price spread: −0.459% → −0.098%
- −$36.09
- Slippage, 4 orders
- −$110.32
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- $2,146.92
- Costs to cover
- 1.313%
- Break-even
- 0.5 days
Slippage from Bybit: 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 Bybit live order book, 5 min ago | 4.52 bp | 32.9 bp −$33 | 225.8 bp −$2,258 | 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 KERNELUSDTlong | −2.0624% | 4h | 0.06591 | long leg | $1.9M | $9.8M | 20x | |
| BingX KERNEL-USDT | −1.8669% | 4h | 0.06579 | −0.182% | — | $7.0M | — | as long as short |
| Variational Omni KERNEL | −1.2327% | 4h | 0.06680 | +1.347% | $11K | $24K | — | as long as short |
| Gate KERNEL_USDT | −1.1118% | 4h | 0.06557 | −0.516% | $257K | $1.0M | 50x | as long as short |
| KuCoin KERNELUSDTM | −1.0528% | 4h | 0.06559 | −0.486% | $264K | $422K | 30x | as long as short |
| Binance KERNELUSDTshort | −0.9604% | 4h | 0.06561 | −0.459% | $3.8M | $43.0M | 25x | |
| MEXC KERNEL_USDT | −0.9486% | 4h | 0.06561 | −0.455% | $1.4M | $1.6M | 20x | as long as short |
| Bitget KERNELUSDT | −0.7586% | 4h | 0.06576 | −0.228% | $768K | $4.8M | 25x | as long as short |
BingX KERNEL-USDT
Variational Omni KERNEL
Gate KERNEL_USDT
KuCoin KERNELUSDTM
MEXC KERNEL_USDT
Bitget KERNELUSDT