Funding you earn now, next payment 00:00 UTC−0.1042%/8h= −114.1% APRnext payment −$5.21 per $10,000 · paid last 24h −0.065%
Price spread now: Bitget against Gate−0.112%7-day average −0.139% · you buy dearer than you sell
Net, funding: paid 7d − costs−$147as in the Funding arb table
Net, price: spread back to 7d avg − costs−$89as in the Price arb table
costs, in and out, $10k−$920.916% of the position
Funding, last 7 days−0.558%−$56 on $10k
+Price spread, last 7 days+0.027%+$3 · spread now −0.112%, 7d avg −0.139%
=The price spread pays, funding is against you. Bitget is 0.027% dearer against Gate than usual: you sell high and buy low (spread −0.112% now, against its 7-day average of −0.139%): +$3 on $10k if it goes back. Holding the pair costs −$31 a day in funding at the current rate, which eats that in about 2 hours. At the pace of the last 7 days (−0.558% in total) that is about 8 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.558% in total (about -29.1% a year). A funding rate is set anew for every payment; at this rate the next one is about −$5.21 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 | Gate PI_USDT | 0.08940 | 0.0100 | pay 0.0050% / 4h | 2h 18m | $2.6M | $2.0M | 50x |
| Short | Bitget PIUSDT | 0.08930 | −0.0942 | pay 0.0471% / 4h | 2h 18m | $4.8M | $1.6M | 50x |
Gate PI_USDT
Bitget PIUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bitget 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
- −$218.82
- Price spread: −0.112% → −0.139%
- $2.74
- Slippage, 4 orders
- −$64.61
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Fee Bitget: 6 bp × 2 orders
- −$12
- Net
- −$307.69
- Costs to cover
- 0.916%
- Break-even
- never at this rate
Slippage from Gate: live order book, 5 min ago; Bitget: live order book, 5 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, 5 min ago | 5.60 bp | 29.5 bp −$29 | 144.3 bp −$1,443 | doesn't fit | doesn't fit |
| Sell Bitget live order book, 5 min ago | 5.61 bp | 25.3 bp −$25 | 51.7 bp −$517 | doesn't fit | doesn't fit |
PI on 6 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 | |
|---|---|---|---|---|---|---|---|---|
| Bitget PIUSDTshort | −0.0942% | 4h | 0.08930 | −0.112% | $4.8M | $1.6M | 50x | |
| OKX PI-USDT-SWAP | +0.0100% | 4h | 0.08948 | +0.089% | $2.7M | $5.7M | 20x | as long as short |
| Gate PI_USDTlong | +0.0100% | 4h | 0.08940 | long leg | $2.6M | $2.0M | 50x | |
| MEXC PI_USDT | +0.0100% | 4h | 0.08948 | +0.089% | $9.2M | $1.3M | 125x | as long as short |
| BingX PI-USDT | +0.0100% | 4h | 0.08946 | +0.067% | — | $6.6M | — | as long as short |
| Injective PI/USDC PERP | +0.0179% | 1h | 0.08920 | −0.224% | $1 | $57K | 5.5x | as long as short |
OKX PI-USDT-SWAP
MEXC PI_USDT
BingX PI-USDT
Injective PI/USDC PERP