Funding you earn now, next payment 00:00 UTC+0.3406%/8h= +373.0% APRnext payment +$17.03 per $10,000 · paid last 24h +0.504%
Price spread now: Bybit against Binance−0.556%7-day average +0.337% · you buy dearer than you sell
Net, funding: paid 7d − costs−$223as in the Funding arb table
Net, price: spread back to 7d avg − costs−$366as in the Price arb table
costs, in and out, $10k−$2772.769% of the position
Funding, last 7 days+0.535%+$54 on $10k
+Price spread, last 7 days+1.597%+$160 · spread now −0.556%, 7d avg +0.337%
=Funding pays, the price is against you. Bybit is 0.893% cheaper against Binance than usual: you would sell low and buy high (spread −0.556% now, against its 7-day average of +0.337%). If the spread goes back, that is −$89 on $10k: about 21 hours of funding at the current rate (+$102 a day). At the pace of the last 7 days (+0.535% in total) that is about 12 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.535% in total (about 27.9% a year). A funding rate is set anew for every payment; at this rate the next one is about +$17.03 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 STEEMUSDT | 0.05733 | 0.0100 | pay 0.0050% / 4h | 2h 13m | $2.1M | $3.4M | 25x |
| Short | Bybit STEEMUSDT | 0.05701 | 0.3506 | get 0.1753% / 4h | 2h 13m | $1.3M | $968K | 13x |
Binance STEEMUSDT
Bybit STEEMUSDTFunding 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
- $715.26
- Price spread: −0.556% → +0.337%
- −$89.29
- Slippage, 4 orders
- −$255.92
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- $349.05
- Costs to cover
- 2.769%
- Break-even
- 3.6 days
Slippage from Binance: live order book, 8 min ago; Bybit: live order book, 2 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, 8 min ago | 1.74 bp | 25.3 bp −$25 | 97.3 bp −$973 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 2 min ago | 4.38 bp | 115.9 bp −$116 | 204.5 bp −$2,045 | doesn't fit | doesn't fit |
STEEM on 11 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_STEEMUSD | −0.0635% | 1h | 0.05742 | +0.155% | $8K | $5K | 10x | as long as short |
| HTX STEEM-USDT | −0.0129% | 4h | 0.05729 | −0.068% | $40K | $33K | 20x | as long as short |
| BingX STEEM-USDT | +0.0070% | 4h | 0.05727 | −0.103% | — | $1.6M | — | as long as short |
| Aster STEEMUSDT | +0.0100% | 4h | 0.05731 | −0.033% | $16K | $10K | 5x | as long as short |
| Binance STEEMUSDTlong | +0.0100% | 4h | 0.05733 | long leg | $2.1M | $3.4M | 25x | |
| MEXC STEEM_USDT | +0.0100% | 4h | 0.05733 | +0.002% | $424K | $113K | 20x | as long as short |
| KuCoin STEEMUSDTM | +0.0100% | 4h | 0.05732 | −0.016% | $415K | $91K | 30x | as long as short |
| Bitget STEEMUSDT | +0.0100% | 4h | 0.05731 | −0.033% | $446K | $232K | 25x | as long as short |
| Gate STEEM_USDT | +0.1298% | 4h | 0.05747 | +0.246% | $288K | $121K | 20x | as long as short |
| Variational Omni STEEM | +0.2581% | 4h | 0.05714 | −0.325% | $12K | $147 | — | as long as short |
Kraken Futures PF_STEEMUSD
HTX STEEM-USDT
BingX STEEM-USDT
Aster STEEMUSDT
MEXC STEEM_USDT
KuCoin STEEMUSDTM
Bitget STEEMUSDT
Gate STEEM_USDT
Variational Omni STEEMShow all 11 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit STEEMUSDTshort | +0.3506% | 4h | 0.05701 | −0.556% | $1.3M | $968K | 13x |