MAGMA

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0198%/8h= −21.7% APRnext payment −$0.99 per $10,000 · paid last 24h −0.003%

Price spread now: Bybit against Gate−0.231%7-day average −0.077% · you buy dearer than you sell

Net, funding: paid 7d − costs−$238as in the Funding arb table

Net, price: spread back to 7d avg − costs−$253as in the Price arb table

costs, in and out, $10k−$2372.372% of the position

Long on Gate Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.003%$0 on $10k

Price spread, last 4 days (all we have)+0.083%+$8 · spread now −0.231%, 7d avg −0.077%

Together, before fees+0.080%+$8 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Bybit is 0.155% cheaper against Gate than usual: you would sell low and buy high (−$15 if the spread goes back to its 7-day average of −0.077%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.003% in total (about -0.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.99 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	Gate MAGMA_USDT	0.2333	0.0298	pay 0.0149% / 4h	30m 42s	$982K	$251K	20x
Short	Bybit MAGMAUSDT	0.2328	0.0100	get 0.0050% / 4h	30m 42s	$1.7M	$1.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Gate. 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 GatebpFee BybitbpOrdersPrice spread, now −0.231%Rate

Funding earned: −$41.58
Price spread: −0.231% → −0.077%: −$15.49
Slippage, 4 orders: −$211.18
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$294.25
Costs to cover: 2.372%
Break-even: never at this rate

Slippage from Gate: live order book, 26 min ago; Bybit: live order book, 1 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 Gate live order book, 26 min ago	8.61 bp	58.3 bp −$58	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 1 min ago	2.14 bp	58.5 bp −$58	512.6 bp −$5,126	doesn't fit	doesn't fit

MAGMA on 10 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 MAGMAUSDTshort	+0.0100%	4h	0.2328	−0.231%	$1.7M	$1.2M	20x
KuCoin MAGMAUSDTM	+0.0100%	4h	0.2321	−0.527%	$270K	$30K	20x	as long as short
Variational Omni MAGMA	+0.0100%	4h	0.2332	−0.052%	$11K	$3K	—	as long as short
Bitget MAGMAUSDT	+0.0178%	4h	0.2329	−0.163%	$2.3M	$956K	20x	as long as short
BingX MAGMA-USDT	+0.0224%	4h	0.2327	−0.253%	—	$1.3M	—	as long as short
MEXC MAGMA_USDT	+0.0254%	4h	0.2331	−0.107%	$11.5M	$263K	50x	as long as short
Extended MAGMA-USD	+0.0256%	1h	0.2328	−0.233%	$975	—	5x	as long as short
Binance MAGMAUSDT	+0.0271%	4h	0.2329	−0.163%	$4.6M	$7.1M	20x	as long as short
Gate MAGMA_USDTlong	+0.0298%	4h	0.2333	long leg	$982K	$251K	20x
Aster MAGMAUSDT	+0.0312%	4h	0.2333	−0.009%	$1.4M	$410K	5x	as long as short