Funding you earn now, next payment 04:00 UTC+0.0188%/8h= +20.6% APRnext payment +$0.94 per $10,000 · paid last 24h −0.004%
Price spread now: BloFin against Bybit+0.133%112s7-day average +0.012% · you sell dearer than you buy
Net, funding: paid 7d − costs−$92as 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−$800.797% of the position
Funding, last 7 days−0.119%−$12 on $10k
+Price spread, last 4 days (all we have)+0.334%+$33 · spread now +0.133%, 7d avg +0.012%
=Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and BloFin is 0.121% dearer against Bybit than usual: you sell high and buy low: +$12 more if the spread goes back to its 7-day average of +0.012%. Mind the row above: over the last 7 days funding on this pair cost −0.119%, so the current rate has only just turned in your favour. The two prices were read 112 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.119% in total (about -6.2% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.94 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 | Bybit OPNUSDT | 0.05256 | 0.0100 | pay 0.0050% / 4h | 1h 13m | $733K | $2.9M | 20x |
| Short | BloFin OPN-USDT | 0.05263 | 0.0288 | get 0.0144% / 4h | 1h 13m | $185K | $4K | 50x |
Bybit OPNUSDT
BloFin OPN-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BloFin against Bybit. 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
- $39.42
- Price spread: +0.133% → +0.012%
- $12.13
- Slippage, 4 orders
- −$56.71
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee BloFin: 6 bp × 2 orders
- −$12
- Net
- −$28.16
- Costs to cover
- 0.797%
- Break-even
- 12.0 days
Slippage from Bybit: live order book, 4 min ago; BloFin: live order book, 24 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 Bybit live order book, 4 min ago | 3.81 bp | 20.8 bp −$21 | 1638.7 bp −$16.4K | doesn't fit | doesn't fit |
| Sell BloFin live order book, 24 min ago | 5.77 bp | 17.2 bp −$17 | 62.3 bp −$623 | doesn't fit | doesn't fit |
OPN on 15 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_OPNUSD | −1.1616% | 1h | 0.05234 | −0.415% | $2K | $4K | 20x | as long as short |
| Deribit OPN_USDC-PERPETUAL | 0.0000% | 1h | 0.05256 | +0.008% | — | — | 10x | as long as short |
| Bybit OPNUSDTlong | +0.0100% | 4h | 0.05256 | long leg | $733K | $2.9M | 20x | |
| KuCoin OPNUSDTM | +0.0100% | 4h | 0.05259 | +0.057% | $145K | $68K | 25x | as long as short |
| Bitget OPNUSDT | +0.0100% | 4h | 0.05258 | +0.038% | $608K | $187K | 20x | as long as short |
| Orderly PERP_OPN_USDC_mythos | +0.0100% | 4h | 0.05260 | +0.076% | $3K | $5K | 10x | as long as short |
| SunX OPN-USDT | +0.0100% | 4h | 0.05370 | +2.169% | $2K | $1.4M | 20x | as long as short |
| OKX OPN-USDT-SWAP | +0.0280% | 4h | 0.05256 | 0.000% | $814K | $3.1M | 20x | as long as short |
| BloFin OPN-USDTshort | +0.0288% | 4h | 0.05263 | +0.133% | $185K | $4K | 50x | |
| BingX OPN-USDT | +0.0314% | 4h | 0.05256 | 0.000% | — | $1.6M | — | as long as short |
Kraken Futures PF_OPNUSD
Deribit OPN_USDC-PERPETUAL
KuCoin OPNUSDTM
Bitget OPNUSDT
Orderly PERP_OPN_USDC_mythos
SunX OPN-USDT
OKX OPN-USDT-SWAP
BingX OPN-USDTShow all 15 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC OPN_USDT | +0.0324% | 4h | 0.05260 | +0.076% | $836K | $340K | 50x | as long as short |
| Binance OPNUSDT | +0.0325% | 4h | 0.05259 | +0.062% | $3.7M | $5.9M | 25x | as long as short |
| Aster OPNUSDT | +0.0416% | 4h | 0.05260 | +0.070% | $8K | $14K | 5x | as long as short |
| Coinbase International OPN-PERP-INTX | +0.1520% | 1h | 0.05278 | +0.424% | $14K | $5K | 50x | as long as short |
| Gate OPN_USDT | +0.1864% | 4h | 0.05264 | +0.152% | $208K | $165K | 50x | as long as short |
MEXC OPN_USDT
Binance OPNUSDT
Aster OPNUSDT
Coinbase International OPN-PERP-INTX
Gate OPN_USDT