Funding you earn now, next payment 08:00 UTC−0.0435%/8h= −47.6% APRnext payment −$2.17 per $10,000 · paid last 24h −0.002%
Price spread now: Binance against Bybit+0.052%7-day average −0.062% · you sell dearer than you buy
Net, funding: paid 7d − costs−$338as in the Funding arb table
Net, price: spread back to 7d avg − costs−$307as in the Price arb table
costs, in and out, $10k−$3193.188% of the position
Funding, last 7 days−0.189%−$19 on $10k
+Price spread, last 4 days (all we have)−0.145%−$15 · spread now +0.052%, 7d avg −0.062%
=The price spread pays, funding is against you. Binance is 0.114% dearer against Bybit than usual: you sell high and buy low (spread +0.052% now, against its 7-day average of −0.062%): +$11 on $10k if it goes back. Holding the pair costs −$13 a day in funding at the current rate, which eats that in about 21 hours. At the pace of the last 7 days (−0.189% in total) that is about 4.2 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.189% in total (about -9.9% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.17 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 | Bybit SHELLUSDT | 0.02701 | 0.0562 | pay 0.0281% / 4h | 1h 49m | $509K | $216K | 13x |
| Short | Binance SHELLUSDT | 0.02702 | 0.0127 | get 0.0064% / 4h | 1h 49m | $2.1M | $2.9M | 10x |
Bybit SHELLUSDT
Binance SHELLUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Bybit. 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
- −$91.32
- Price spread: +0.052% → −0.062%
- $11.42
- Slippage, 4 orders
- −$297.83
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$398.73
- Costs to cover
- 3.188%
- Break-even
- never at this rate
Slippage from Bybit: live order book, 51 min ago; Binance: live order book, 1 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 Bybit live order book, 51 min ago | 9.20 bp | 128.3 bp −$128 | doesn't fit | doesn't fit | doesn't fit |
| Sell Binance live order book, 1 min ago | 1.85 bp | 43.5 bp −$44 | 257.4 bp −$2,574 | 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 | −0.074% | $1K | $10K | 5x | as long as short |
| OKX SHELL-USDT-SWAP | +0.0100% | 4h | 0.02711 | +0.370% | $171K | $462K | 10x | as long as short |
| Gate SHELL_USDT | +0.0100% | 4h | 0.02708 | +0.259% | $411K | $207K | 10x | as long as short |
| KuCoin SHELLUSDTM | +0.0100% | 4h | 0.02704 | +0.111% | $342K | $35K | 10x | as long as short |
| Variational Omni SHELL | +0.0100% | 4h | 0.02693 | −0.294% | $1K | $1K | — | as long as short |
| MEXC SHELL_USDT | +0.0126% | 4h | 0.02700 | −0.037% | $280K | $143K | 50x | as long as short |
| Binance SHELLUSDTshort | +0.0127% | 4h | 0.02702 | +0.052% | $2.1M | $2.9M | 10x | |
| Bybit SHELLUSDTlong | +0.0562% | 4h | 0.02701 | long leg | $509K | $216K | 13x | |
| BingX SHELL-USDT | +0.1130% | 4h | 0.02705 | +0.148% | — | $6.5M | — | as long as short |
| Bitget SHELLUSDT | +0.1220% | 4h | 0.02706 | +0.185% | $568K | $247K | 10x | as long as short |
Aster SHELLUSDT
OKX SHELL-USDT-SWAP
Gate SHELL_USDT
KuCoin SHELLUSDTM
Variational Omni SHELL
MEXC SHELL_USDT
BingX SHELL-USDT
Bitget SHELLUSDT