Funding you earn now, next payment 08:00 UTC+0.0788%/8h= +86.3% APRnext payment +$3.94 per $10,000 · paid last 24h +0.044%
Price spread now: Bybit against Binance+0.207%7-day average +0.079% · you sell dearer than you buy
Net, funding: paid 7d − costs−$485as in the Funding arb table
Net, price: spread back to 7d avg − costs−$477as in the Price arb table
costs, in and out, $10k−$4894.894% of the position
Funding, last 7 days+0.044%+$4 on $10k
+Price spread, last 7 days−0.168%−$17 · spread now +0.207%, 7d avg +0.079%
=Both sides work for this trade now. Funding pays +$24 a day on $10k at the current rate, and Bybit is 0.127% dearer against Binance than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of +0.079%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.044% in total (about 2.3% a year). A funding rate is set anew for every payment; at this rate the next one is about +$3.94 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 OPENUSDT | 0.1452 | 0.0100 | pay 0.0050% / 4h | 2h 00m | $7.2M | $2.5M | 75x |
| Short | Bybit OPENUSDT | 0.1455 | 0.0888 | get 0.0444% / 4h | 2h 00m | $1.5M | $742K | 25x |
Binance OPENUSDT
Bybit OPENUSDTFunding 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
- $165.43
- Price spread: +0.207% → +0.079%
- $12.74
- Slippage, 4 orders
- −$468.4
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$311.23
- Costs to cover
- 4.894%
- Break-even
- 20.2 days
Slippage from Binance: live order book, 8 min ago; Bybit: live order book, 5 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, 8 min ago | 3.43 bp | 34.1 bp −$34 | 244.3 bp −$2,443 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 5 min ago | 4.46 bp | 226.6 bp −$227 | doesn't fit | doesn't fit | doesn't fit |
OPEN on 9 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 OPENUSDT | +0.0100% | 4h | 0.1452 | +0.012% | $254K | $4K | 5x | as long as short |
| Binance OPENUSDTlong | +0.0100% | 4h | 0.1452 | long leg | $7.2M | $2.5M | 75x | |
| Gate OPEN_USDT | +0.0100% | 8h | 0.1453 | +0.069% | $830K | $202K | 75x | as long as short |
| KuCoin OPENUSDTM | +0.0100% | 4h | 0.1456 | +0.241% | $2.4M | $55K | 30x | as long as short |
| Extended OPEN-USD | +0.0104% | 1h | 0.1452 | −0.029% | $5K | $193K | 5x | as long as short |
| BloFin OPEN-USDT | +0.0135% | 4h | 0.1453 | +0.069% | $679K | $12K | 75x | as long as short |
| Bitget OPENUSDT | +0.0194% | 4h | 0.1454 | +0.138% | $2.3M | $163K | 20x | as long as short |
| Bybit OPENUSDTshort | +0.0888% | 4h | 0.1455 | +0.207% | $1.5M | $742K | 25x | |
| Kraken Futures PF_OPENUSD | +0.0953% | 1h | 0.1454 | +0.104% | $14K | $55K | 10x | as long as short |
Aster OPENUSDT
Gate OPEN_USDT
KuCoin OPENUSDTM
Extended OPEN-USD
BloFin OPEN-USDT
Bitget OPENUSDT
Kraken Futures PF_OPENUSD