Funding you earn now, next payment 00:00 UTC−0.1520%/8h= −166.4% APRnext payment −$7.60 per $10,000 · paid last 24h −0.299%
Price spread now: Bybit against BloFin−0.245%7-day average −0.161% · you buy dearer than you sell
Net, funding: paid 7d − costs−$339as in the Funding arb table
Net, price: spread back to 7d avg − costs−$276as in the Price arb table
costs, in and out, $10k−$2672.674% of the position
Funding, last 7 days−0.714%−$71 on $10k
+Price spread, last 3 days (all we have)−0.241%−$24 · spread now −0.245%, 7d avg −0.161%
=Both sides work against this trade now: funding costs −$46 a day on $10k at the current rate, and Bybit is 0.083% cheaper against BloFin than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of −0.161%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.714% in total (about -37.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$7.60 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 | BloFin PHAROS-USDT | 0.5723 | 0.1620 | pay 0.0810% / 4h | 1h 11m | $216K | $17K | 20x |
| Short | Bybit PHAROSUSDT | 0.5709 | 0.0100 | get 0.0050% / 4h | 1h 11m | $337K | $492K | 20x |
BloFin PHAROS-USDT
Bybit PHAROSUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against BloFin. 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
- −$319.17
- Price spread: −0.245% → −0.161%
- −$8.34
- Slippage, 4 orders
- −$244.44
- Fee BloFin: 6 bp × 2 orders
- −$12
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$594.94
- Costs to cover
- 2.674%
- Break-even
- never at this rate
Slippage from BloFin: live order book, 64 min ago; Bybit: live order book, 64 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 BloFin live order book, 64 min ago | 6.04 bp | 34.4 bp −$34 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bybit live order book, 64 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 | 0.5709 | −0.245% | $337K | $492K | 20x | |
| Binance PHAROSUSDT | +0.1592% | 4h | 0.5722 | −0.020% | $3.2M | $4.9M | 20x | as long as short |
| MEXC PHAROS_USDT | +0.1618% | 4h | 0.5723 | 0.000% | $287K | $381K | 20x | as long as short |
| BloFin PHAROS-USDTlong | +0.1620% | 4h | 0.5723 | long leg | $216K | $17K | 20x | |
| BingX PHAROS-USDT | +0.1642% | 4h | 0.5707 | −0.280% | — | $1.7M | — | as long as short |
Binance PHAROSUSDT
MEXC PHAROS_USDT
BingX PHAROS-USDT