Funding you earn now, next payment 00:00 UTC−0.0037%/8h= −4.1% APRnext payment −$0.19 per $10,000 · paid last 24h −0.006%
Price spread now: Bybit against BloFin+0.322%82s7-day average +0.161% · you sell dearer than you buy
Net, funding: paid 7d − costs−$101as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$1000.999% of the position
Funding, last 7 days−0.013%−$1 on $10k
+Price spread, last 3 days (all we have)−0.028%−$3 · spread now +0.322%, 7d avg +0.161%
=The price spread pays, funding is against you. Bybit is 0.161% dearer against BloFin than usual: you sell high and buy low (spread +0.322% now, against its 7-day average of +0.161%): +$16 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 14 days. At the pace of the last 7 days (−0.013% in total) that is about 3 months. The two prices were read 82 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | BloFin NIL-USDT | 0.06835 | 0.0137 | pay 0.0069% / 4h | 1h 39m | $354K | $151K | 50x |
| Short | Bybit NILUSDT | 0.06857 | 0.0100 | get 0.0050% / 4h | 1h 39m | $3.6M | $14.3M | 20x |
BloFin NIL-USDT
Bybit NILUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against BloFin. 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
- −$7.85
- Price spread: +0.322% → +0.161%
- $16.05
- Slippage, 4 orders
- −$76.89
- Fee BloFin: 6 bp × 2 orders
- −$12
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$91.68
- Costs to cover
- 0.999%
- Break-even
- never at this rate
Slippage from BloFin: live order book, 40 min ago; Bybit: live order book, 4 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 BloFin live order book, 40 min ago | 5.18 bp | 25.4 bp −$25 | 93.2 bp −$932 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 4 min ago | 2.19 bp | 22.8 bp −$23 | 136.7 bp −$1,367 | doesn't fit | doesn't fit |
NIL 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 | |
|---|---|---|---|---|---|---|---|---|
| Aster NILUSDT | +0.0100% | 4h | 0.06844 | +0.131% | $20K | $368K | 5x | as long as short |
| Binance NILUSDT | +0.0100% | 4h | 0.06850 | +0.219% | $5.4M | $82.1M | 50x | as long as short |
| Bybit NILUSDTshort | +0.0100% | 4h | 0.06857 | +0.322% | $3.6M | $14.3M | 20x | |
| Gate NIL_USDT | +0.0100% | 4h | 0.06842 | +0.102% | $440K | $2.1M | 50x | as long as short |
| MEXC NIL_USDT | +0.0100% | 4h | 0.06849 | +0.205% | $2.5M | $5.2M | 100x | as long as short |
| KuCoin NILUSDTM | +0.0100% | 4h | 0.06843 | +0.117% | $496K | $717K | 30x | as long as short |
| Bitget NILUSDT | +0.0100% | 4h | 0.06857 | +0.322% | $1.8M | $9.1M | 50x | as long as short |
| BingX NIL-USDT | +0.0100% | 4h | 0.06852 | +0.249% | — | $8.6M | — | as long as short |
| Variational Omni NIL | +0.0100% | 4h | 0.06841 | +0.084% | $51K | $145K | — | as long as short |
| Extended NIL-USD | +0.0104% | 1h | 0.06847 | +0.170% | $17K | $94K | 5x | as long as short |
Aster NILUSDT
Binance NILUSDT
Gate NIL_USDT
MEXC NIL_USDT
KuCoin NILUSDTM
Bitget NILUSDT
BingX NIL-USDT
Variational Omni NIL
Extended NIL-USDShow all 12 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BloFin NIL-USDTlong | +0.0137% | 4h | 0.06835 | long leg | $354K | $151K | 50x | |
| Hyperliquid NIL | +0.1196% | 1h | 0.06874 | +0.566% | $4.1M | $4.6M | 3x | as long as short |
Hyperliquid NIL