Funding you earn now, next payment 04:00 UTC−0.0016%/8h= −1.8% APRnext payment −$0.08 per $10,000 · paid last 24h +0.001%
Price spread now: Bybit against Gate−0.537%7-day average +0.019% · you buy dearer than you sell
Net, funding: paid 7d − costs−$181as in the Funding arb table
Net, price: spread back to 7d avg − costs−$237as in the Price arb table
costs, in and out, $10k−$1811.813% of the position
Funding, last 7 days+0.006%+$1 on $10k
+Price spread, last 7 days+0.452%+$45 · spread now −0.537%, 7d avg +0.019%
=Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Bybit is 0.556% cheaper against Gate than usual: you would sell low and buy high (−$56 if the spread goes back to its 7-day average of +0.019%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Gate NIL_USDT | 0.07082 | 0.0116 | pay 0.0058% / 4h | 32m 29s | $458K | $2.0M | 50x |
| Short | Bybit NILUSDT | 0.07044 | 0.0100 | get 0.0050% / 4h | 32m 29s | $3.9M | $13.9M | 20x |
Gate NIL_USDT
Bybit NILUSDTFunding 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$3.36
- Price spread: −0.537% → +0.019%
- −$55.6
- Slippage, 4 orders
- −$155.33
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$240.29
- Costs to cover
- 1.813%
- Break-even
- never at this rate
Slippage from Gate: live order book, 5 min ago; Bybit: live order book, 6 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, 5 min ago | 12.74 bp | 51.2 bp −$51 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bybit live order book, 6 min ago | 6.40 bp | 42.1 bp −$42 | 180.0 bp −$1,800 | 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 | |
|---|---|---|---|---|---|---|---|---|
| BloFin NIL-USDT | +0.0047% | 4h | 0.07077 | −0.071% | $355K | $127K | 50x | as long as short |
| Aster NILUSDT | +0.0100% | 4h | 0.07084 | +0.034% | $23K | $319K | 5x | as long as short |
| Binance NILUSDT | +0.0100% | 4h | 0.07040 | −0.599% | $5.4M | $74.9M | 50x | as long as short |
| Bybit NILUSDTshort | +0.0100% | 4h | 0.07044 | −0.537% | $3.9M | $13.9M | 20x | |
| MEXC NIL_USDT | +0.0100% | 4h | 0.07072 | −0.141% | $2.4M | $4.3M | 100x | as long as short |
| KuCoin NILUSDTM | +0.0100% | 4h | 0.07089 | +0.099% | $590K | $710K | 30x | as long as short |
| Bitget NILUSDT | +0.0100% | 4h | 0.07037 | −0.635% | $1.9M | $8.4M | 50x | as long as short |
| BingX NIL-USDT | +0.0100% | 4h | 0.07062 | −0.282% | — | $8.4M | — | as long as short |
| Variational Omni NIL | +0.0100% | 4h | 0.07076 | −0.081% | $182K | $280K | — | as long as short |
| Extended NIL-USD | +0.0104% | 1h | 0.07073 | −0.125% | $19K | $91K | 5x | as long as short |
BloFin NIL-USDT
Aster NILUSDT
Binance NILUSDT
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 | |
|---|---|---|---|---|---|---|---|---|
| Gate NIL_USDTlong | +0.0116% | 4h | 0.07082 | long leg | $458K | $2.0M | 50x | |
| Hyperliquid NIL | +0.0774% | 1h | 0.07057 | −0.359% | $4.4M | $4.6M | 3x | as long as short |
Hyperliquid NIL