Funding you earn now, next payment 00:00 UTC+0.3582%/8h= +392.3% APRnext payment +$17.91 per $10,000 · paid last 24h +0.309%
Price spread now: Bybit against Gate−0.576%7-day average −0.004% · you buy dearer than you sell
Net, funding: paid 7d − costs−$489as in the Funding arb table
Net, price: spread back to 7d avg − costs−$521as in the Price arb table
costs, in and out, $10k−$4644.636% of the position
Funding, last 7 days−0.252%−$25 on $10k
+Price spread, last 4 days (all we have)+0.132%+$13 · spread now −0.576%, 7d avg −0.004%
=Funding pays, the price is against you. Bybit is 0.572% cheaper against Gate than usual: you would sell low and buy high (spread −0.576% now, against its 7-day average of −0.004%). If the spread goes back, that is −$57 on $10k: about 13 hours of funding at the current rate (+$107 a day). Mind the row above: over the last 7 days funding on this pair cost −0.252%, so the current rate has only just turned in your favour.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.252% in total (about -13.1% a year). A funding rate is set anew for every payment; at this rate the next one is about +$17.91 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 | Gate STEEM_USDT | 0.05732 | 0.1378 | pay 0.0689% / 4h | 3h 03m | $287K | $117K | 20x |
| Short | Bybit STEEMUSDT | 0.05699 | 0.4960 | get 0.2480% / 4h | 3h 03m | $1.3M | $964K | 13x |
Gate STEEM_USDT
Bybit STEEMUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Gate. 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
- $752.3
- Price spread: −0.576% → −0.004%
- −$57.18
- Slippage, 4 orders
- −$437.64
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- $231.49
- Costs to cover
- 4.636%
- Break-even
- 4.8 days
Slippage from Gate: live order book, 21 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 Gate live order book, 21 min ago | 1.74 bp | 177.2 bp −$177 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bybit live order book, 2 min ago | 1.76 bp | 58.7 bp −$59 | 186.2 bp −$1,862 | 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 | |
|---|---|---|---|---|---|---|---|---|
| HTX STEEM-USDT | −0.0147% | 4h | 0.05714 | −0.314% | $40K | $31K | 20x | as long as short |
| BingX STEEM-USDT | +0.0070% | 4h | 0.05712 | −0.349% | — | $1.6M | — | as long as short |
| Aster STEEMUSDT | +0.0100% | 4h | 0.05724 | −0.140% | $16K | $9K | 5x | as long as short |
| Binance STEEMUSDT | +0.0100% | 4h | 0.05720 | −0.209% | $2.1M | $3.3M | 25x | as long as short |
| MEXC STEEM_USDT | +0.0100% | 4h | 0.05721 | −0.192% | $397K | $107K | 20x | as long as short |
| KuCoin STEEMUSDTM | +0.0100% | 4h | 0.05726 | −0.105% | $420K | $85K | 30x | as long as short |
| Bitget STEEMUSDT | +0.0100% | 4h | 0.05722 | −0.174% | $442K | $223K | 25x | as long as short |
| Kraken Futures PF_STEEMUSD | +0.1068% | 1h | 0.05724 | −0.147% | $9K | $2K | 10x | as long as short |
| Gate STEEM_USDTlong | +0.1378% | 4h | 0.05732 | long leg | $287K | $117K | 20x | |
| Variational Omni STEEM | +0.3491% | 4h | 0.05696 | −0.626% | $12K | $147 | — | as long as short |
HTX STEEM-USDT
BingX STEEM-USDT
Aster STEEMUSDT
Binance STEEMUSDT
MEXC STEEM_USDT
KuCoin STEEMUSDTM
Bitget STEEMUSDT
Kraken Futures PF_STEEMUSD
Variational Omni STEEMShow all 11 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit STEEMUSDTshort | +0.4960% | 4h | 0.05699 | −0.576% | $1.3M | $964K | 13x |