Funding you earn now, next payment 04:00 UTC−0.0081%/8h= −8.9% APRnext payment −$0.40 per $10,000 · paid last 24h 0.000%
Price spread now: Bybit against Binance−0.058%7-day average +0.059% · you buy dearer than you sell
Net, funding: paid 7d − costs−$59as in the Funding arb table
Net, price: spread back to 7d avg − costs−$81as in the Price arb table
costs, in and out, $10k−$700.697% of the position
Funding, last 7 days+0.106%+$11 on $10k
+Price spread, last 7 days+0.138%+$14 · spread now −0.058%, 7d avg +0.059%
=Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Bybit is 0.117% cheaper against Binance than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of +0.059%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.106%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance OPNUSDT | 0.05181 | 0.0181 | pay 0.0090% / 4h | 2h 07m | $3.6M | $5.8M | 25x |
| Short | Bybit OPNUSDT | 0.05178 | 0.0100 | get 0.0050% / 4h | 2h 07m | $718K | $2.9M | 20x |
Binance OPNUSDT
Bybit OPNUSDTFunding 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
- −$16.99
- Price spread: −0.058% → +0.059%
- −$11.68
- Slippage, 4 orders
- −$48.71
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$98.38
- Costs to cover
- 0.697%
- Break-even
- never at this rate
Slippage from Binance: live order book, 15 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 Binance live order book, 15 min ago | 1.92 bp | 15.4 bp −$15 | 83.0 bp −$830 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 4 min ago | 2.89 bp | 18.3 bp −$18 | doesn't fit | doesn't fit | doesn't fit |
OPN on 14 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit OPN_USDC-PERPETUAL | +0.0078% | 1h | 0.05178 | −0.066% | — | — | 10x | as long as short |
| Bybit OPNUSDTshort | +0.0100% | 4h | 0.05178 | −0.058% | $718K | $2.9M | 20x | |
| OKX OPN-USDT-SWAP | +0.0100% | 4h | 0.05183 | +0.039% | $802K | $3.2M | 20x | as long as short |
| KuCoin OPNUSDTM | +0.0100% | 4h | 0.05181 | 0.000% | $140K | $79K | 25x | as long as short |
| Bitget OPNUSDT | +0.0100% | 4h | 0.05177 | −0.077% | $593K | $187K | 20x | as long as short |
| Orderly PERP_OPN_USDC_mythos | +0.0100% | 4h | 0.05170 | −0.212% | $3K | $5K | 10x | as long as short |
| SunX OPN-USDT | +0.0100% | 4h | 0.05290 | +2.104% | $2K | $1.4M | 20x | as long as short |
| MEXC OPN_USDT | +0.0180% | 4h | 0.05180 | −0.019% | $818K | $344K | 50x | as long as short |
| Binance OPNUSDTlong | +0.0181% | 4h | 0.05181 | long leg | $3.6M | $5.8M | 25x | |
| BingX OPN-USDT | +0.0190% | 4h | 0.05180 | −0.019% | — | $1.6M | — | as long as short |
Deribit OPN_USDC-PERPETUAL
OKX OPN-USDT-SWAP
KuCoin OPNUSDTM
Bitget OPNUSDT
Orderly PERP_OPN_USDC_mythos
SunX OPN-USDT
MEXC OPN_USDT
BingX OPN-USDTShow all 14 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster OPNUSDT | +0.0255% | 4h | 0.05181 | +0.006% | $7K | $14K | 5x | as long as short |
| Coinbase International OPN-PERP-INTX | +0.1128% | 1h | 0.05237 | +1.083% | $14K | $5K | 50x | as long as short |
| Gate OPN_USDT | +0.1270% | 4h | 0.05181 | 0.000% | $207K | $160K | 50x | as long as short |
| Kraken Futures PF_OPNUSD | +0.2638% | 1h | 0.05163 | −0.339% | $2K | $4K | 20x | as long as short |
Aster OPNUSDT
Coinbase International OPN-PERP-INTX
Gate OPN_USDT
Kraken Futures PF_OPNUSD