Funding you earn now, next payment 12:00 UTC−0.1293%/8h= −141.5% APRnext payment −$6.46 per $10,000 · paid last 24h +0.060%
Price spread now: KuCoin against Bybit+0.512%7-day average +0.032% · you sell dearer than you buy
Net, funding: paid 7d − costs−$635as in the Funding arb table
Net, price: spread back to 7d avg − costs−$584as in the Price arb table
costs, in and out, $10k−$6326.322% of the position
Funding, last 7 days−0.026%−$3 on $10k
+Price spread, last 4 days (all we have)−0.917%−$92 · spread now +0.512%, 7d avg +0.032%
=The price spread pays, funding is against you. KuCoin is 0.479% dearer against Bybit than usual: you sell high and buy low (spread +0.512% now, against its 7-day average of +0.032%): +$48 on $10k if it goes back. Holding the pair costs −$39 a day in funding at the current rate, which eats that in about 30 hours. At the pace of the last 7 days (−0.026% in total) that is about 4 months.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.026% in total (about -1.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$6.46 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 | Bybit METISUSDT | 3.5170 | 0.2024 | pay 0.1012% / 4h | 3h 38m | $698K | $567K | 20x |
| Short | KuCoin METISUSDTM | 3.5350 | 0.0732 | get 0.0366% / 4h | 3h 38m | $680K | $154K | 30x |
Bybit METISUSDT
KuCoin METISUSDTMFunding history
latest
Range statsloading…
Price spread between the two exchanges
KuCoin 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
- −$271.43
- Price spread: +0.512% → +0.032%
- $47.95
- Slippage, 4 orders
- −$609.21
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Net
- −$855.68
- Costs to cover
- 6.322%
- Break-even
- never at this rate
Slippage from Bybit: live order book, 56 min ago; KuCoin: live order book, 66 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, 56 min ago | 5.67 bp | 122.1 bp −$122 | doesn't fit | doesn't fit | doesn't fit |
| Sell KuCoin live order book, 66 min ago | 21.24 bp | 196.4 bp −$196 | doesn't fit | doesn't fit | doesn't fit |
METIS on 12 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_METISUSD | −0.0112% | 1h | 3.5109 | −0.173% | $2K | $2K | 10x | as long as short |
| Injective METIS/USDC PERP | +0.0033% | 1h | 3.2100 | −8.729% | — | $40K | 5.5x | as long as short |
| Aster METISUSDT | +0.0100% | 4h | 3.5155 | −0.042% | $11K | $23K | 5x | as long as short |
| Binance METISUSDT | +0.0100% | 4h | 3.5130 | −0.114% | $2.2M | $3.9M | 50x | as long as short |
| OKX METIS-USDT-SWAP | +0.0100% | 4h | 3.5130 | −0.114% | $391K | $968K | 10x | as long as short |
| Gate METIS_USDT | +0.0100% | 4h | 3.5160 | −0.028% | $141K | $121K | 50x | as long as short |
| MEXC METIS_USDT | +0.0100% | 4h | 3.5110 | −0.171% | $677K | $214K | 50x | as long as short |
| Bitget METISUSDT | +0.0100% | 4h | 3.5150 | −0.057% | $206K | $413K | 50x | as long as short |
| Variational Omni METIS | +0.0100% | 4h | 3.5204 | +0.097% | $33K | $34K | — | as long as short |
| KuCoin METISUSDTMshort | +0.0732% | 4h | 3.5350 | +0.512% | $680K | $154K | 30x |
Kraken Futures PF_METISUSD
Injective METIS/USDC PERP
Aster METISUSDT
Binance METISUSDT
OKX METIS-USDT-SWAP
Gate METIS_USDT
MEXC METIS_USDT
Bitget METISUSDT
Variational Omni METISShow all 12 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit METISUSDTlong | +0.2024% | 4h | 3.5170 | long leg | $698K | $567K | 20x | |
| BingX METIS-USDT | +0.3740% | 4h | 3.5130 | −0.114% | — | $2.4M | — | as long as short |
BingX METIS-USDT