RATS

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0611%/8h= −66.9% APRnext payment −$3.05 per $10,000 · paid last 24h −0.127%

Price spread now: Bybit against BloFin+0.096%7-day average −0.154% · you sell dearer than you buy

Net, funding: paid 7d − costs−$171as in the Funding arb table

Net, price: spread back to 7d avg − costs−$107as in the Price arb table

costs, in and out, $10k−$1321.323% of the position

Long on BloFin Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.389%−$39 on $10k

Price spread, last 3 days (all we have)−0.216%−$22 · spread now +0.096%, 7d avg −0.154%

Together, before fees−0.606%−$61 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.250% dearer against BloFin than usual: you sell high and buy low (spread +0.096% now, against its 7-day average of −0.154%): +$25 on $10k if it goes back. Holding the pair costs −$18 a day in funding at the current rate, which eats that in about 33 hours. At the pace of the last 7 days (−0.389% in total) that is about 4.5 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.389% in total (about -20.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$3.05 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 1000RATS-USDT	0.00004183	0.0796	pay 0.0398% / 4h	2h 34m	$1.0M	$9K	40x
Short	Bybit 1000RATSUSDT	0.00004187	0.0185	get 0.0093% / 4h	2h 34m	$4.3M	$869K	20x

Funding 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

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latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BloFinbpFee BybitbpOrdersPrice spread, now +0.096%Rate

Funding earned: −$128.29
Price spread: +0.096% → −0.154%: $24.96
Slippage, 4 orders: −$109.3
Fee BloFin: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$235.63
Costs to cover: 1.323%
Break-even: never at this rate

Slippage from BloFin: live order book, 2 min ago; Bybit: live order book, 3 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, 2 min ago	2.39 bp	16.4 bp −$16	107.6 bp −$1,076	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	2.39 bp	49.8 bp −$50	441.8 bp −$4,418	doesn't fit	doesn't fit

RATS on 10 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
Gate RATS_USDT	+0.0100%	4h	0.00004168	−0.359%	$2.4M	$415K	25x	as long as short
Bitget 1000RATSUSDT	+0.0100%	4h	0.00004182	−0.024%	$1.5M	$330K	25x	as long as short
Bybit 1000RATSUSDTshort	+0.0185%	4h	0.00004187	+0.096%	$4.3M	$869K	20x
KuCoin 1000RATSUSDTM	+0.0290%	4h	0.00004176	−0.167%	$627K	$78K	30x	as long as short
BloFin 1000RATS-USDTlong	+0.0796%	4h	0.00004183	long leg	$1.0M	$9K	40x
Binance 1000RATSUSDT	+0.0804%	4h	0.00004191	+0.191%	$11.0M	$2.0M	40x	as long as short
BingX RATS-USDT	+0.0812%	4h	0.00004181	−0.048%	—	$1.2M	—	as long as short
MEXC 1000RATS_USDT	+0.0814%	4h	0.00004186	+0.072%	$801K	$182K	125x	as long as short
edgeX 1000RATSUSDC	+0.0847%	4h	0.00004181	−0.058%	$33K	$292K	10x	as long as short
Aster 1000RATSUSDT	+0.1260%	4h	0.00004180	−0.072%	$19K	$14K	5x	as long as short