Funding you earn now, next payment 12:00 UTC+0.1183%/8h= +129.5% APRnext payment +$5.91 per $10,000 · paid last 24h −0.060%
Price spread now: Bybit against KuCoin−0.339%7-day average −0.032% · you buy dearer than you sell
Net, funding: paid 7d − costs−$630as in the Funding arb table
Net, price: spread back to 7d avg − costs−$663as 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)+0.745%+$74 · spread now −0.339%, 7d avg −0.032%
=Funding pays, the price is against you. Bybit is 0.307% cheaper against KuCoin than usual: you would sell low and buy high (spread −0.339% now, against its 7-day average of −0.032%). If the spread goes back, that is −$31 on $10k: about 21 hours of funding at the current rate (+$35 a day). At the pace of the last 7 days (+0.026% in total) that is about 3 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 +$5.91 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 | KuCoin METISUSDTM | 3.5370 | 0.0420 | pay 0.0210% / 4h | 3h 50m | $680K | $154K | 30x |
| Short | Bybit METISUSDT | 3.5250 | 0.1603 | get 0.0801% / 4h | 3h 50m | $700K | $575K | 20x |
KuCoin METISUSDTM
Bybit METISUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against KuCoin. 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
- $248.35
- Price spread: −0.339% → −0.032%
- −$30.7
- Slippage, 4 orders
- −$609.21
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$414.55
- Costs to cover
- 6.322%
- Break-even
- 18.7 days
Slippage from KuCoin: live order book, 53 min ago; Bybit: live order book, 44 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 KuCoin live order book, 53 min ago | 21.24 bp | 207.3 bp −$207 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bybit live order book, 44 min ago | 5.67 bp | 106.5 bp −$106 | 323.9 bp −$3,239 | 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 | 3.5204 | −0.471% | $2K | $2K | 10x | as long as short |
| Injective METIS/USDC PERP | +0.0033% | 1h | 3.2100 | −9.245% | — | $40K | 5.5x | as long as short |
| Aster METISUSDT | +0.0100% | 4h | 3.5240 | −0.366% | $11K | $23K | 5x | as long as short |
| Binance METISUSDT | +0.0100% | 4h | 3.5224 | −0.412% | $2.2M | $3.9M | 50x | as long as short |
| OKX METIS-USDT-SWAP | +0.0100% | 4h | 3.5250 | −0.339% | $393K | $972K | 10x | as long as short |
| Gate METIS_USDT | +0.0100% | 4h | 3.5140 | −0.650% | $141K | $120K | 50x | as long as short |
| MEXC METIS_USDT | +0.0100% | 4h | 3.5210 | −0.452% | $680K | $213K | 50x | as long as short |
| Bitget METISUSDT | +0.0100% | 4h | 3.5230 | −0.396% | $206K | $413K | 50x | as long as short |
| Variational Omni METIS | +0.0100% | 4h | 3.5249 | −0.342% | $33K | $34K | — | as long as short |
| KuCoin METISUSDTMlong | +0.0420% | 4h | 3.5370 | long leg | $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 | |
|---|---|---|---|---|---|---|---|---|
| BingX METIS-USDT | +0.0700% | 4h | 3.5200 | −0.481% | — | $2.4M | — | as long as short |
| Bybit METISUSDTshort | +0.1603% | 4h | 3.5250 | −0.339% | $700K | $575K | 20x |
BingX METIS-USDT