Funding you earn now, next payment 12:00 UTC−0.0786%/8h= −86.1% APRnext payment −$3.93 per $10,000 · paid last 24h −0.241%
Price spread now: Binance against Bybit+0.049%7-day average +0.081% · you sell dearer than you buy
Net, funding: paid 7d − costs−$398as in the Funding arb table
Net, price: spread back to 7d avg − costs−$376as in the Price arb table
costs, in and out, $10k−$3723.723% of the position
Funding, last 7 days−0.253%−$25 on $10k
+Price spread, last 4 days (all we have)+0.026%+$3 · spread now +0.049%, 7d avg +0.081%
=Both sides work against this trade now: funding costs −$24 a day on $10k at the current rate, and Binance is 0.032% cheaper against Bybit than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.081%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.253% in total (about -13.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$3.93 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit THEUSDT | 0.08217 | 0.1042 | pay 0.0521% / 4h | 1h 31m | $548K | $481K | 20x |
| Short | Binance THEUSDT | 0.08221 | 0.0256 | get 0.0128% / 4h | 1h 31m | $2.0M | $5.2M | 10x |
Bybit THEUSDT
Binance THEUSDTFunding 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
- −$165.07
- Price spread: +0.049% → +0.081%
- −$3.25
- Slippage, 4 orders
- −$351.26
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$540.58
- Costs to cover
- 3.723%
- Break-even
- never at this rate
Slippage from Bybit: live order book, 7 min ago; Binance: live order book, 14 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, 7 min ago | 8.43 bp | 165.6 bp −$166 | 2524.6 bp −$25.2K | doesn't fit | doesn't fit |
| Sell Binance live order book, 14 min ago | 1.21 bp | 31.0 bp −$31 | 212.7 bp −$2,127 | doesn't fit | doesn't fit |
THE on 9 exchanges
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 | |
|---|---|---|---|---|---|---|---|---|
| Gate THE_USDT | +0.0100% | 4h | 0.08230 | +0.158% | $69K | $71K | 10x | as long as short |
| Aster THEUSDT | +0.0120% | 4h | 0.08222 | +0.067% | $6K | $18K | 5x | as long as short |
| Binance THEUSDTshort | +0.0256% | 4h | 0.08221 | +0.049% | $2.0M | $5.2M | 10x | |
| MEXC THE_USDT | +0.0260% | 4h | 0.08221 | +0.049% | $215K | $172K | 50x | as long as short |
| KuCoin THEUSDTM | +0.0284% | 4h | 0.08231 | +0.170% | $113K | $122K | 10x | as long as short |
| BloFin THE-USDT | +0.0305% | 4h | 0.08226 | +0.110% | $132K | $8K | 50x | as long as short |
| Bitget THEUSDT | +0.0920% | 4h | 0.08231 | +0.170% | $500K | $455K | 10x | as long as short |
| BingX THE-USDT | +0.1034% | 4h | 0.08224 | +0.085% | — | $6.5M | — | as long as short |
| Bybit THEUSDTlong | +0.1042% | 4h | 0.08217 | long leg | $548K | $481K | 20x |
Gate THE_USDT
Aster THEUSDT
MEXC THE_USDT
KuCoin THEUSDTM
BloFin THE-USDT
Bitget THEUSDT
BingX THE-USDT