Funding you earn now, next payment 04:00 UTC−0.0297%/8h= −32.5% APRnext payment −$1.48 per $10,000 · paid last 24h −0.119%
Price spread now: Bybit against Binance+0.061%7-day average +0.291% · you sell dearer than you buy
Net, funding: paid 7d − costs−$376as in the Funding arb table
Net, price: spread back to 7d avg − costs−$379as in the Price arb table
costs, in and out, $10k−$3563.565% of the position
Funding, last 7 days−0.190%−$19 on $10k
+Price spread, last 7 days+0.194%+$19 · spread now +0.061%, 7d avg +0.291%
=Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and Bybit is 0.230% cheaper against Binance than usual: you would sell low and buy high (−$23 if the spread goes back to its 7-day average of +0.291%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.190% in total (about -9.9% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.48 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 USUSDT | 0.01639 | 0.0397 | pay 0.0198% / 4h | 1h 19m | $9.1M | $3.3M | 10x |
| Short | Bybit USUSDT | 0.01640 | 0.0100 | get 0.0050% / 4h | 1h 19m | $3.2M | $918K | 20x |
Binance USUSDT
Bybit USUSDTFunding 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
- −$62.28
- Price spread: +0.061% → +0.291%
- −$23
- Slippage, 4 orders
- −$335.47
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$441.75
- Costs to cover
- 3.565%
- Break-even
- never at this rate
Slippage from Binance: live order book, 5 min ago; Bybit: live order book, 3 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, 5 min ago | 3.36 bp | 57.4 bp −$57 | 361.9 bp −$3,619 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 3 min ago | 12.18 bp | 106.9 bp −$107 | doesn't fit | doesn't fit | doesn't fit |
US 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 | |
|---|---|---|---|---|---|---|---|---|
| Bybit USUSDTshort | +0.0100% | 4h | 0.01640 | +0.061% | $3.2M | $918K | 20x | |
| Gate US_USDT | +0.0100% | 4h | 0.01640 | +0.024% | $2.1M | $597K | 20x | as long as short |
| KuCoin USUSDTM | +0.0100% | 4h | 0.01637 | −0.177% | $4.1M | $287K | 20x | as long as short |
| Variational Omni US | +0.0100% | 4h | 0.01642 | +0.164% | $16K | $3K | — | as long as short |
| BloFin US-USDT | +0.0391% | 4h | 0.01643 | +0.195% | $483K | $49K | 10x | as long as short |
| MEXC US_USDT | +0.0396% | 4h | 0.01641 | +0.104% | $5.5M | $113K | 100x | as long as short |
| Binance USUSDTlong | +0.0397% | 4h | 0.01639 | long leg | $9.1M | $3.3M | 10x | |
| Extended US-USD | +0.0400% | 1h | 0.01641 | +0.063% | $5K | $97K | 5x | as long as short |
| BingX US-USDT | +0.0408% | 4h | 0.01641 | +0.073% | — | $1.3M | — | as long as short |
| Aster USUSDT | +0.0411% | 4h | 0.01639 | −0.030% | $12K | $54K | 5x | as long as short |
Gate US_USDT
KuCoin USUSDTM
Variational Omni US
BloFin US-USDT
MEXC US_USDT
Extended US-USD
BingX US-USDT
Aster USUSDTShow all 11 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget USUSDT | +0.0422% | 4h | 0.01642 | +0.183% | $4.3M | $259K | 10x | as long as short |
Bitget USUSDT