Funding you earn now, next payment 04:00 UTC+0.0841%/8h= +92.1% APRpaid last 24h +0.028%
Price spread now: Bybit against Gate+0.083%7-day average +0.111% · you sell dearer than you buy
Net, funding: paid 7d − costs−$671as in the Funding arb table
Net, price: spread back to 7d avg − costs−$674as in the Price arb table
costs, in and out, $10k−$6726.717% of the position
Funding, last 7 days+0.008%+$1 on $10k
+Price spread, last 4 days (all we have)+0.992%+$99 · spread now +0.083%, 7d avg +0.111%
=Funding pays, the price is against you. Bybit is 0.027% cheaper against Gate than usual: you would sell low and buy high (spread +0.083% now, against its 7-day average of +0.111%). If the spread goes back, that is −$3 on $10k: about 3 hours of funding at the current rate (+$25 a day). At the pace of the last 7 days (+0.008% in total) that is about 26 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.008% in total (about 0.4% a year). A funding rate is set anew for every payment. 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 | Gate OPEN_USDT | 0.1444 | 0.0100 | pay 0.0100% / 8h | 4h 55m | $828K | $196K | 75x |
| Short | Bybit OPENUSDT | 0.1445 | 0.0941 | get 0.0470% / 4h | 55m 14s | $1.5M | $690K | 25x |
Gate OPEN_USDT
Bybit OPENUSDTFunding 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
- $176.61
- Price spread: +0.083% → +0.111%
- −$2.75
- Slippage, 4 orders
- −$645.65
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$497.79
- Costs to cover
- 6.717%
- Break-even
- 26.7 days
Slippage from Gate: live order book, 1 min ago; Bybit: live order book, 1 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, 1 min ago | 3.46 bp | 111.4 bp −$111 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bybit live order book, 1 min ago | 4.15 bp | 209.5 bp −$209 | 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 | 0.1442 | −0.136% | $252K | $4K | 5x | as long as short |
| Binance OPENUSDT | +0.0100% | 4h | 0.1442 | −0.139% | $7.1M | $2.5M | 75x | as long as short |
| Gate OPEN_USDTlong | +0.0100% | 8h | 0.1444 | long leg | $828K | $196K | 75x | |
| KuCoin OPENUSDTM | +0.0100% | 4h | 0.1444 | −0.007% | $2.4M | $46K | 30x | as long as short |
| Bitget OPENUSDT | +0.0100% | 4h | 0.1444 | 0.000% | $2.2M | $181K | 20x | as long as short |
| Extended OPEN-USD | +0.0104% | 1h | 0.1442 | −0.123% | $2K | $109K | 5x | as long as short |
| BloFin OPEN-USDT | +0.0113% | 4h | 0.1444 | 0.000% | $678K | $12K | 75x | as long as short |
| Bybit OPENUSDTshort | +0.0941% | 4h | 0.1445 | +0.083% | $1.5M | $690K | 25x | |
| Kraken Futures PF_OPENUSD | +0.0975% | 1h | 0.1443 | −0.090% | $14K | $55K | 10x | as long as short |
Aster OPENUSDT
Binance OPENUSDT
KuCoin OPENUSDTM
Bitget OPENUSDT
Extended OPEN-USD
BloFin OPEN-USDT
Kraken Futures PF_OPENUSD