Funding you earn now, next payment 00:00 UTC−0.2154%/8h= −235.8% APRnext payment −$10.77 per $10,000 · paid last 24h −0.299%
Price spread now: Bybit against Binance−0.052%7-day average −0.155% · you buy dearer than you sell
Net, funding: paid 7d − costs−$342as in the Funding arb table
Net, price: spread back to 7d avg − costs−$260as in the Price arb table
costs, in and out, $10k−$2712.708% of the position
Funding, last 7 days−0.716%−$72 on $10k
+Price spread, last 4 days (all we have)−0.134%−$13 · spread now −0.052%, 7d avg −0.155%
=The price spread pays, funding is against you. Bybit is 0.103% dearer against Binance than usual: you sell high and buy low (spread −0.052% now, against its 7-day average of −0.155%): +$10 on $10k if it goes back. Holding the pair costs −$65 a day in funding at the current rate, which eats that in about 4 hours. At the pace of the last 7 days (−0.716% in total) that is about 24 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.716% in total (about -37.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$10.77 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 PHAROSUSDT | 0.5803 | 0.2254 | pay 0.1127% / 4h | 1h 54m | $3.3M | $4.8M | 20x |
| Short | Bybit PHAROSUSDT | 0.5800 | 0.0100 | get 0.0050% / 4h | 1h 54m | $369K | $471K | 20x |
Binance PHAROSUSDT
Bybit PHAROSUSDTFunding 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
- −$452.25
- Price spread: −0.052% → −0.155%
- $10.3
- Slippage, 4 orders
- −$249.75
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$712.7
- Costs to cover
- 2.708%
- Break-even
- never at this rate
Slippage from Binance: live order book, 13 min ago; Bybit: live order book, 21 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, 13 min ago | 6.05 bp | 35.6 bp −$36 | 611.0 bp −$6,110 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 21 min ago | 6.05 bp | 115.6 bp −$116 | doesn't fit | doesn't fit | doesn't fit |
PHAROS on 5 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 | |
|---|---|---|---|---|---|---|---|---|
| Bybit PHAROSUSDTshort | +0.0100% | 4h | 0.5800 | −0.052% | $369K | $471K | 20x | |
| BingX PHAROS-USDT | +0.2204% | 4h | 0.5796 | −0.121% | — | $1.7M | — | as long as short |
| BloFin PHAROS-USDT | +0.2243% | 4h | 0.5784 | −0.327% | $221K | $17K | 20x | as long as short |
| Binance PHAROSUSDTlong | +0.2254% | 4h | 0.5803 | long leg | $3.3M | $4.8M | 20x | |
| MEXC PHAROS_USDT | +0.2272% | 4h | 0.5807 | +0.069% | $291K | $378K | 20x | as long as short |
BingX PHAROS-USDT
BloFin PHAROS-USDT
MEXC PHAROS_USDT