KERNEL

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.9506%/8h= +1041.0% APRnext payment +$47.53 per $10,000 · paid last 24h +0.663%

Price spread now: Gate against Bybit−0.516%7-day average −0.004% · you buy dearer than you sell

Net, funding: paid 7d − costs−$312as in the Funding arb table

Net, price: spread back to 7d avg − costs−$430as in the Price arb table

costs, in and out, $10k−$3793.787% of the position

Long on Bybit Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.666%+$67 on $10k

Price spread, last 4 days (all we have)+0.420%+$42 · spread now −0.516%, 7d avg −0.004%

Together, before fees+1.086%+$109 on $10k · with fees, hour by hour

Funding pays, the price is against you. Gate is 0.512% cheaper against Bybit than usual: you would sell low and buy high (spread −0.516% now, against its 7-day average of −0.004%). If the spread goes back, that is −$51 on $10k: about 4 hours of funding at the current rate (+$285 a day). At the pace of the last 7 days (+0.666% in total) that is about 5.4 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.666% in total (about 34.7% a year). A funding rate is set anew for every payment; at this rate the next one is about +$47.53 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	Gate KERNEL_USDT	0.06557	−1.1118	pay 0.5559% / 4h	2h 12m	$257K	$1.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Bybit. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BybitbpFee GatebpOrdersPrice spread, now −0.516%Rate

Funding earned: $1,996.35
Price spread: −0.516% → −0.004%: −$51.15
Slippage, 4 orders: −$352.7
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Gate: 7.5 bp × 2 orders: −$15
Net: $1,566.5
Costs to cover: 3.787%
Break-even: 1.5 days

Slippage from Bybit: live order book, 5 min ago; Gate: live order book, 53 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 Gate live order book, 53 min ago	6.15 bp	256.8 bp −$257	doesn't fit	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_USDTshort	−1.1118%	4h	0.06557	−0.516%	$257K	$1.0M	50x
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