Funding you earn now, next payment 00:00 UTC−0.0492%/8h= −53.9% APRnext payment −$2.46 per $10,000 · paid last 24h 0.000%
Price spread now: Bybit against Binance−0.041%7-day average +0.038% · you buy dearer than you sell
Net, funding: paid 7d − costs−$116as in the Funding arb table
Net, price: spread back to 7d avg − costs−$122as in the Price arb table
costs, in and out, $10k−$1141.141% of the position
Funding, last 7 days−0.018%−$2 on $10k
+Price spread, last 7 days+0.113%+$11 · spread now −0.041%, 7d avg +0.038%
=Both sides work against this trade now: funding costs −$15 a day on $10k at the current rate, and Bybit is 0.079% cheaper against Binance than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of +0.038%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.018% in total (about -1.0% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.46 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 | Binance MASKUSDT | 0.4852 | 0.0100 | pay 0.0050% / 4h | 33m 41s | $2.6M | $9.8M | 50x |
| Short | Bybit MASKUSDT | 0.4850 | −0.0392 | pay 0.0196% / 4h | 33m 41s | $1.3M | $1.9M | 50x |
Binance MASKUSDT
Bybit MASKUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Binance. 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
- −$103.4
- Price spread: −0.041% → +0.038%
- −$7.9
- Slippage, 4 orders
- −$93.12
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$225.42
- Costs to cover
- 1.141%
- Break-even
- never at this rate
Slippage from Binance: live order book, 6 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 Binance live order book, 6 min ago | 1.03 bp | 19.6 bp −$20 | 92.0 bp −$920 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 3 min ago | 4.12 bp | 37.5 bp −$37 | 89.9 bp −$899 | doesn't fit | doesn't fit |
MASK 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 MASKUSDTshort | −0.0392% | 4h | 0.4850 | −0.041% | $1.3M | $1.9M | 50x | |
| Variational Omni MASK | −0.0086% | 4h | 0.4852 | −0.001% | $23K | $1 | — | as long as short |
| Binance MASKUSDTlong | +0.0100% | 4h | 0.4852 | long leg | $2.6M | $9.8M | 50x | |
| OKX MASK-USDT-SWAP | +0.0100% | 8h | 0.4850 | −0.041% | $500K | $3.1M | 20x | as long as short |
| Gate MASK_USDT | +0.0100% | 8h | 0.4854 | +0.041% | $274K | $658K | 50x | as long as short |
| MEXC MASK_USDT | +0.0100% | 8h | 0.4849 | −0.062% | $1.1M | $327K | 50x | as long as short |
| KuCoin MASKUSDTM | +0.0100% | 4h | 0.4860 | +0.165% | $601K | $230K | 50x | as long as short |
| Bitget MASKUSDT | +0.0100% | 4h | 0.4860 | +0.165% | $512K | $1.4M | 50x | as long as short |
| BingX MASK-USDT | +0.0100% | 4h | 0.4852 | 0.000% | — | $2.3M | — | as long as short |
| BloFin MASK-USDT | +0.0151% | 4h | 0.4857 | +0.103% | $129K | $20K | 50x | as long as short |
Variational Omni MASK
OKX MASK-USDT-SWAP
Gate MASK_USDT
MEXC MASK_USDT
KuCoin MASKUSDTM
Bitget MASKUSDT
BingX MASK-USDT
BloFin MASK-USDT