Funding you earn now, next payment 08:00 UTC−0.0658%/8h= −72.0% APRnext payment −$3.29 per $10,000 · paid last 24h −0.148%
Price spread now: Bybit against Bitget−0.185%7-day average −0.085% · you buy dearer than you sell
Net, funding: paid 7d − costs−$397as in the Funding arb table
Net, price: spread back to 7d avg − costs−$406as in the Price arb table
costs, in and out, $10k−$3963.965% of the position
Funding, last 7 days−0.010%−$1 on $10k
+Price spread, last 4 days (all we have)+0.079%+$8 · spread now −0.185%, 7d avg −0.085%
=Both sides work against this trade now: funding costs −$20 a day on $10k at the current rate, and Bybit is 0.100% cheaper against Bitget than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of −0.085%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.010% in total (about -0.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$3.29 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 | Bitget SHELLUSDT | 0.02706 | 0.1220 | pay 0.0610% / 4h | 1h 49m | $568K | $247K | 10x |
| Short | Bybit SHELLUSDT | 0.02701 | 0.0562 | get 0.0281% / 4h | 1h 49m | $509K | $216K | 13x |
Bitget SHELLUSDT
Bybit SHELLUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Bitget. 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
- −$138.11
- Price spread: −0.185% → −0.085%
- −$10
- Slippage, 4 orders
- −$373.49
- Fee Bitget: 6 bp × 2 orders
- −$12
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$544.6
- Costs to cover
- 3.965%
- Break-even
- never at this rate
Slippage from Bitget: live order book, 56 min ago; Bybit: live order book, 51 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 Bitget live order book, 56 min ago | 3.63 bp | 79.3 bp −$79 | 370.2 bp −$3,702 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 51 min ago | 9.20 bp | 105.1 bp −$105 | doesn't fit | doesn't fit | doesn't fit |
SHELL 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 | |
|---|---|---|---|---|---|---|---|---|
| Aster SHELLUSDT | +0.0100% | 4h | 0.02699 | −0.267% | $1K | $10K | 5x | as long as short |
| OKX SHELL-USDT-SWAP | +0.0100% | 4h | 0.02709 | +0.111% | $171K | $461K | 10x | as long as short |
| Gate SHELL_USDT | +0.0100% | 4h | 0.02708 | +0.074% | $411K | $207K | 10x | as long as short |
| KuCoin SHELLUSDTM | +0.0100% | 4h | 0.02704 | −0.074% | $342K | $35K | 10x | as long as short |
| Variational Omni SHELL | +0.0100% | 4h | 0.02693 | −0.478% | $1K | $1K | — | as long as short |
| MEXC SHELL_USDT | +0.0126% | 4h | 0.02700 | −0.222% | $280K | $143K | 50x | as long as short |
| Binance SHELLUSDT | +0.0127% | 4h | 0.02701 | −0.185% | $2.1M | $2.9M | 10x | as long as short |
| Bybit SHELLUSDTshort | +0.0562% | 4h | 0.02701 | −0.185% | $509K | $216K | 13x | |
| BingX SHELL-USDT | +0.1130% | 4h | 0.02705 | −0.037% | — | $6.5M | — | as long as short |
| Bitget SHELLUSDTlong | +0.1220% | 4h | 0.02706 | long leg | $568K | $247K | 10x |
Aster SHELLUSDT
OKX SHELL-USDT-SWAP
Gate SHELL_USDT
KuCoin SHELLUSDTM
Variational Omni SHELL
MEXC SHELL_USDT
Binance SHELLUSDT
BingX SHELL-USDT