Funding you earn now, next payment 04:00 UTC+0.1956%/8h= +214.1% APRnext payment +$9.78 per $10,000 · paid last 24h +0.013%
Price spread now: BingX against Bybit−0.182%7-day average −0.051% · you buy dearer than you sell
Net, funding: paid 7d − costs−$135as in the Funding arb table
Net, price: spread back to 7d avg − costs−$150as in the Price arb table
costs, in and out, $10k−$1371.368% of the position
Funding, last 7 days+0.013%+$1 on $10k
+Price spread, last 4 days (all we have)+0.134%+$13 · spread now −0.182%, 7d avg −0.051%
=Funding pays, the price is against you. BingX is 0.131% cheaper against Bybit than usual: you would sell low and buy high (spread −0.182% now, against its 7-day average of −0.051%). If the spread goes back, that is −$13 on $10k: about 5 hours of funding at the current rate (+$59 a day). At the pace of the last 7 days (+0.013% in total) that is about 2 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 +$9.78 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 | BingX KERNEL-USDT | 0.06579 | −1.8669 | pay 0.9334% / 4h | 2h 12m | — | $7.0M | — |
Bybit KERNELUSDT
BingX KERNEL-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BingX 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
- $410.68
- Price spread: −0.182% → −0.051%
- −$13.12
- Slippage, 4 orders
- −$115.76
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee BingX: 5 bp × 2 orders
- −$10
- Net
- $260.8
- Costs to cover
- 1.368%
- Break-even
- 2.6 days
Slippage from Bybit: live order book, 6 min ago; BingX: live order book, 10 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, 6 min ago | 4.52 bp | 32.9 bp −$33 | 225.8 bp −$2,258 | doesn't fit | doesn't fit |
| Sell BingX live order book, 10 min ago | 8.28 bp | 28.8 bp −$29 | 85.4 bp −$854 | 590.3 bp −$59.0K | 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-USDTshort | −1.8669% | 4h | 0.06579 | −0.182% | — | $7.0M | — | |
| 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 KERNELUSDT | −0.9604% | 4h | 0.06561 | −0.459% | $3.8M | $43.0M | 25x | as long as short |
| 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 |
Variational Omni KERNEL
Gate KERNEL_USDT
KuCoin KERNELUSDTM
Binance KERNELUSDT
MEXC KERNEL_USDT
Bitget KERNELUSDT