Funding you earn now, next payment 00:00 UTC−0.1500%/8h= −164.3% APRnext payment −$7.50 per $10,000 · paid last 24h −0.170%
Price spread now: Bybit against Binance−0.076%7-day average +0.008% · you buy dearer than you sell
Net, funding: paid 7d − costs−$328as in the Funding arb table
Net, price: spread back to 7d avg − costs−$263as in the Price arb table
costs, in and out, $10k−$2552.547% of the position
Funding, last 7 days−0.729%−$73 on $10k
+Price spread, last 4 days (all we have)+0.165%+$17 · spread now −0.076%, 7d avg +0.008%
=Both sides work against this trade now: funding costs −$45 a day on $10k at the current rate, and Bybit is 0.083% cheaper against Binance than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of +0.008%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.729% in total (about -38.0% a year). A funding rate is set anew for every payment; at this rate the next one is about −$7.50 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 | Binance SONICUSDT | 0.02649 | 0.1600 | pay 0.0800% / 4h | 1h 51m | $1.3M | $1.6M | 10x |
| Short | Bybit SONICUSDT | 0.02647 | 0.0100 | get 0.0050% / 4h | 1h 51m | $1.0M | $708K | 25x |
Binance SONICUSDT
Bybit SONICUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Binance. 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
- −$315.01
- Price spread: −0.076% → +0.008%
- −$8.33
- Slippage, 4 orders
- −$233.68
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$578.02
- Costs to cover
- 2.547%
- Break-even
- never at this rate
Slippage from Binance: live order book, 12 min ago; Bybit: live order book, 4 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 Binance live order book, 12 min ago | 3.75 bp | 48.8 bp −$49 | 354.8 bp −$3,548 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 4 min ago | 3.77 bp | 69.0 bp −$69 | 371.0 bp −$3,710 | doesn't fit | doesn't fit |
SONIC on 8 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 | |
|---|---|---|---|---|---|---|---|---|
| Bybit SONICUSDTshort | +0.0100% | 4h | 0.02647 | −0.076% | $1.0M | $708K | 25x | |
| Gate SONIC_USDT | +0.0100% | 4h | 0.02647 | −0.076% | $128K | $83K | 25x | as long as short |
| Variational Omni SONIC | +0.0100% | 4h | 0.02647 | −0.065% | $3K | $2K | — | as long as short |
| KuCoin SONICUSDTM | +0.0386% | 4h | 0.02659 | +0.378% | $462K | $16K | 10x | as long as short |
| Bitget SONICUSDT | +0.0732% | 4h | 0.02651 | +0.076% | $399K | $324K | 10x | as long as short |
| MEXC SONIC_USDT | +0.1568% | 4h | 0.02652 | +0.113% | $867K | $126K | 50x | as long as short |
| Binance SONICUSDTlong | +0.1600% | 4h | 0.02649 | long leg | $1.3M | $1.6M | 10x | |
| BloFin SONIC-USDT | +0.1611% | 4h | 0.02655 | +0.227% | $127K | $2K | 10x | as long as short |
Gate SONIC_USDT
Variational Omni SONIC
KuCoin SONICUSDTM
Bitget SONICUSDT
MEXC SONIC_USDT
BloFin SONIC-USDT