Funding you earn now, next payment 00:00 UTC−0.2890%/8h= −316.4% APRnext payment −$14.45 per $10,000 · paid last 24h −0.504%
Price spread now: Binance against Bybit+0.508%7-day average −0.329% · 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−$201as in the Price arb table
costs, in and out, $10k−$2852.848% of the position
Funding, last 7 days−0.535%−$54 on $10k
+Price spread, last 7 days−1.527%−$153 · spread now +0.508%, 7d avg −0.329%
=The price spread pays, funding is against you. Binance is 0.837% dearer against Bybit than usual: you sell high and buy low (spread +0.508% now, against its 7-day average of −0.329%): +$84 on $10k if it goes back. Holding the pair costs −$87 a day in funding at the current rate, which eats that in about 23 hours. At the pace of the last 7 days (−0.535% in total) that is about 11 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 −$14.45 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 STEEMUSDT | 0.05705 | 0.2990 | pay 0.1495% / 4h | 1h 40m | $1.3M | $969K | 13x |
| Short | Binance STEEMUSDT | 0.05734 | 0.0100 | get 0.0050% / 4h | 1h 40m | $2.1M | $3.4M | 25x |
Bybit STEEMUSDT
Binance STEEMUSDTFunding 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
- −$606.83
- Price spread: +0.508% → −0.329%
- $83.75
- Slippage, 4 orders
- −$263.82
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$807.9
- Costs to cover
- 2.848%
- Break-even
- never at this rate
Slippage from Bybit: live order book, 5 min ago; Binance: live order book, 11 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, 5 min ago | 4.38 bp | 104.5 bp −$104 | 192.6 bp −$1,926 | doesn't fit | doesn't fit |
| Sell Binance live order book, 11 min ago | 1.75 bp | 28.2 bp −$28 | 94.3 bp −$943 | 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 | −0.0381% | 1h | 0.05738 | +0.584% | $8K | $5K | 10x | as long as short |
| BingX STEEM-USDT | +0.0070% | 4h | 0.05721 | +0.280% | — | $1.6M | — | as long as short |
| Aster STEEMUSDT | +0.0100% | 4h | 0.05732 | +0.472% | $16K | $10K | 5x | as long as short |
| Binance STEEMUSDTshort | +0.0100% | 4h | 0.05734 | +0.508% | $2.1M | $3.4M | 25x | |
| MEXC STEEM_USDT | +0.0100% | 4h | 0.05732 | +0.473% | $424K | $112K | 20x | as long as short |
| KuCoin STEEMUSDTM | +0.0100% | 4h | 0.05725 | +0.351% | $414K | $91K | 30x | as long as short |
| Bitget STEEMUSDT | +0.0100% | 4h | 0.05727 | +0.386% | $446K | $232K | 25x | as long as short |
| HTX STEEM-USDT | +0.0100% | 4h | 0.05727 | +0.386% | $40K | $32K | 20x | as long as short |
| Gate STEEM_USDT | +0.1472% | 4h | 0.05741 | +0.631% | $287K | $120K | 20x | as long as short |
| Variational Omni STEEM | +0.1673% | 4h | 0.05698 | −0.123% | $12K | $147 | — | as long as short |
Kraken Futures PF_STEEMUSD
BingX STEEM-USDT
Aster STEEMUSDT
MEXC STEEM_USDT
KuCoin STEEMUSDTM
Bitget STEEMUSDT
HTX STEEM-USDT
Gate STEEM_USDT
Variational Omni STEEMShow all 11 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit STEEMUSDTlong | +0.2990% | 4h | 0.05705 | long leg | $1.3M | $969K | 13x |