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Funding arb · Price arb /

THETA

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 08:00 UTC+0.0120%/8h= +13.1% APRnext payment +$1.20 per $10,000 · paid last 24h +0.034%
Price spread now: BloFin against BingX−0.045%51s7-day average +0.029% · you buy dearer than you sell
Net, funding: paid 7d − costs−$76as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$920.917% of the position
Long on BingXShort on BloFin
What this pair did over the last
the charts below follow
Funding, last 7 days+0.157%+$16 on $10k
Price spread, last 4 days (all we have)+0.085%+$8 · spread now −0.045%, 7d avg +0.029%
Together, before fees+0.242%+$24 on $10k · with fees, hour by hour
Funding pays, the price is against you. BloFin is 0.074% cheaper against BingX than usual: you would sell low and buy high (spread −0.045% now, against its 7-day average of +0.029%). If the spread goes back, that is −$7 on $10k: about 2.1 days of funding at the current rate (+$4 a day). The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBingX THETA-USDT0.22210.0100pay 0.0100% / 8h0m 19s—$2.5M—
ShortBloFin THETA-USDT0.22200.0220get 0.0220% / 8h0m 19s$155K$193K75x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

BloFin against BingX. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

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latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
$25.2
Price spread: −0.045% → +0.029%
−$7.39
Slippage, 4 orders
−$69.74
Fee BingX: 5 bp × 2 orders
−$10
Fee BloFin: 6 bp × 2 orders
−$12
Net
−$73.93
Costs to cover
0.917%
Break-even
27.5 days
Slippage from BingX: live order book, 4 min ago; BloFin: live order book, 5 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy BingX live order book, 4 min ago6.76 bp23.5 bp −$2357.5 bp −$575424.2 bp −$42.4K548.4 bp −$274.2K
Sell BloFin live order book, 5 min ago2.25 bp20.4 bp −$2052.8 bp −$528241.2 bp −$24.1Kdoesn't fit

THETA on 13 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Kraken Futures PF_THETAUSD−0.0284%1h0.2223+0.079%$80K$70K20xas long as short
Variational Omni THETA−0.0256%8h0.2219−0.104%$290K$74K—as long as short
Injective THETA/USDC PERP+0.0033%1h0.2136−3.827%$208$25K5.5xas long as short
Aster THETAUSDT+0.0100%8h0.2223+0.082%$16K$19K5xas long as short
Binance THETAUSDT+0.0100%8h0.2222+0.045%$3.1M$6.2M75xas long as short
Bybit THETAUSDT+0.0100%8h0.2219−0.090%$3.0M$2.8M75xas long as short
OKX THETA-USDT-SWAP+0.0100%8h0.22210.000%$618K$1.4M20xas long as short
Gate THETA_USDT+0.0100%8h0.2223+0.090%$372K$158K50xas long as short
MEXC THETA_USDT+0.0100%8h0.22210.000%$1.4M$575K100xas long as short
KuCoin THETAUSDTM+0.0100%8h0.22210.000%$1.0M$418K50xas long as short
Show all 13 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bitget THETAUSDT+0.0100%8h0.2222+0.045%$1.2M$877K50xas long as short
BingX THETA-USDTlong+0.0100%8h0.2221long leg—$2.5M—
BloFin THETA-USDTshort+0.0220%8h0.2220−0.045%$155K$193K75x