Funding you earn now, next payment 04:00 UTC+0.0077%/8h= +8.4% APRnext payment +$0.38 per $10,000 · paid last 24h +0.086%
Price spread now: Bybit against Orderly−0.126%7-day average −0.062% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.698%+$70 on $10k
+Price spread, last 3 days (all we have)+0.192%+$19 · spread now −0.126%, 7d avg −0.062%
=Funding pays, the price is against you. Bybit is 0.064% cheaper against Orderly than usual: you would sell low and buy high (spread −0.126% now, against its 7-day average of −0.062%). If the spread goes back, that is −$6 on $10k: about 2.8 days of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.698% in total) that is about 15 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Orderly PERP_S_USDC | 0.03983 | 0.0023 | pay 0.0012% / 4h | 3h 43m | $101K | $335K | 10x |
| Short | Bybit SUSDT | 0.03978 | 0.0100 | get 0.0050% / 4h | 3h 43m | $5.7M | $5.0M | 50x |
Orderly PERP_S_USDC
Bybit SUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Orderly. 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
- $16.13
- Price spread: −0.126% → −0.062%
- −$6.39
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$7.25
- Costs to cover
- 0.170%
- Break-even
- 10.1 days
Slippage unknown: Orderly: no order-book sample; Bybit: live order book, 5 min ago. Net counts fees only.
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 Orderly no order-book sample | — | — | — | — | — |
| Sell Bybit live order book, 5 min ago | 3.78 bp | 25.8 bp −$26 | 73.7 bp −$737 | doesn't fit | doesn't fit |
Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
S on 25 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 | |
|---|---|---|---|---|---|---|---|---|
| 01 Exchange SUSD | −0.5704% | 1h | 0.03970 | −0.326% | $25K | $2K | 5x | as long as short |
| Kraken Futures PF_SUSD | −0.2031% | 1h | 0.03977 | −0.153% | $34K | $23K | 10x | as long as short |
| Coinbase International S-PERP-INTX | −0.1240% | 1h | 0.03826 | −3.942% | $47K | $5K | 25x | as long as short |
| Variational Omni S | −0.0943% | 4h | 0.03974 | −0.216% | $617K | $31K | — | as long as short |
| GMX S/USD [WBTC.b-USDC] | L −0.0206% / S +0.0198% | 1h | 0.03984 | +0.025% | $1K | — | 100x | as long as short |
| Reya SRUSDPERP | −0.0101% | 1h | 0.03981 | −0.040% | $4 | — | 15x | as long as short |
| gTrade (Gains Network) S/USD | L +0.0001% / S +0.0006% | 1h | 0.03985 | +0.060% | $614 | — | 150x | as long as short |
| Orderly PERP_S_USDClong | +0.0023% | 4h | 0.03983 | long leg | $101K | $335K | 10x | |
| Injective S/USDC PERP | +0.0033% | 1h | 0.04100 | +2.937% | $2K | $37K | 12x | as long as short |
| Lighter S | +0.0096% | 1h | 0.03986 | +0.075% | $162K | $190K | 5x | as long as short |
01 Exchange SUSD
Kraken Futures PF_SUSD
Coinbase International S-PERP-INTX
Variational Omni S
GMX S/USD [WBTC.b-USDC]
Reya SRUSDPERP
gTrade (Gains Network) S/USD
Injective S/USDC PERP
Lighter SShow all 25 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid S | +0.0100% | 1h | 0.03982 | −0.025% | $997K | $647K | 5x | as long as short |
| Aster SUSDT | +0.0100% | 4h | 0.03982 | −0.018% | $44K | $141K | 10x | as long as short |
| Binance SUSDT | +0.0100% | 4h | 0.03983 | +0.012% | $5.4M | $16.2M | 75x | as long as short |
| Bybit SUSDTshort | +0.0100% | 4h | 0.03978 | −0.126% | $5.7M | $5.0M | 50x | |
| OKX S-USDT-SWAP | +0.0100% | 4h | 0.03985 | +0.050% | $984K | $4.7M | 20x | as long as short |
| Gate S_USDT | +0.0100% | 4h | 0.03974 | −0.226% | $325K | $216K | 50x | as long as short |
| MEXC S_USDT | +0.0100% | 4h | 0.03984 | +0.025% | $3.7M | $1.9M | 200x | as long as short |
| KuCoin SUSDTM | +0.0100% | 4h | 0.03983 | 0.000% | $1.8M | $2.9M | 50x | as long as short |
| Bitget SUSDT | +0.0100% | 4h | 0.03984 | +0.025% | $1.2M | $2.4M | 50x | as long as short |
| BingX S-USDT | +0.0100% | 4h | 0.03982 | −0.025% | — | $6.7M | — | as long as short |
| Backpack S_USDC_PERP | +0.0100% | 1h | 0.03980 | −0.075% | $116K | $317K | 5x | as long as short |
| ApeX Omni SUSDT | +0.0100% | 1h | 0.03970 | −0.326% | $26K | $448K | 50x | as long as short |
| Extended S-USD | +0.0104% | 1h | 0.03982 | −0.034% | $225K | $1.1M | 10x | as long as short |
| BloFin S-USDT | +0.0340% | 4h | 0.03971 | −0.301% | $267K | $126K | 75x | as long as short |
| Deribit S_USDC-PERPETUAL | +0.0754% | 1h | 0.03990 | +0.176% | $67K | $10K | 10x | as long as short |
Hyperliquid S
Aster SUSDT
Binance SUSDT
OKX S-USDT-SWAP
Gate S_USDT
MEXC S_USDT
KuCoin SUSDTM
Bitget SUSDT
BingX S-USDT
Backpack S_USDC_PERP
ApeX Omni SUSDT
Extended S-USD
BloFin S-USDT
Deribit S_USDC-PERPETUAL