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Funding arb · Price arb /

US

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 00:00 UTC+0.0915%/8h= +100.2% APRnext payment +$4.58 per $10,000 · paid last 24h +0.086%
Price spread now: BloFin against Bybit+0.329%92s7-day average −0.252% · you sell dearer than you buy
Net, funding: paid 7d − costs−$260as 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−$2772.768% of the position
Long on BybitShort on BloFin
What this pair did over the last
the charts below follow
Funding, last 7 days+0.167%+$17 on $10k
Price spread, last 3 days (all we have)−0.673%−$67 · spread now +0.329%, 7d avg −0.252%
Together, before fees−0.506%−$51 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$27 a day on $10k at the current rate, and BloFin is 0.581% dearer against Bybit than usual: you sell high and buy low: +$58 more if the spread goes back to its 7-day average of −0.252%. The two prices were read 92 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.167% in total (about 8.7% a year). A funding rate is set anew for every payment; at this rate the next one is about +$4.58 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBybit USUSDT0.016430.0100pay 0.0050% / 4h27m 44s$3.2M$876K20x
ShortBloFin US-USDT0.016480.1015get 0.0508% / 4h27m 44s$478K$49K10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

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

Funding on every exchange

click an exchange to add or hide it
latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
$192.24
Price spread: +0.329% → −0.252%
$58.08
Slippage, 4 orders
−$253.83
Fee Bybit: 5.5 bp × 2 orders
−$11
Fee BloFin: 6 bp × 2 orders
−$12
Net
−$26.51
Costs to cover
2.768%
Break-even
8.0 days
Slippage from Bybit: live order book, 5 min ago; BloFin: live order book, 48 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 Bybit live order book, 5 min ago9.12 bp143.6 bp −$144doesn't fitdoesn't fitdoesn't fit
Sell BloFin live order book, 48 min ago3.67 bp30.0 bp −$30doesn't fitdoesn't fitdoesn't fit

US on 11 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
KuCoin USUSDTM+0.0084%4h0.01646+0.177%$4.2M$280K20xas long as short
Bybit USUSDTlong+0.0100%4h0.01643long leg$3.2M$876K20x
Gate US_USDT+0.0100%4h0.01647+0.219%$2.1M$555K20xas long as short
Variational Omni US+0.0100%4h0.01650+0.415%$16K$3K—as long as short
Bitget USUSDT+0.0690%4h0.01647+0.219%$4.3M$256K10xas long as short
Aster USUSDT+0.0902%4h0.01647+0.261%$12K$55K5xas long as short
BingX US-USDT+0.0976%4h0.01645+0.146%—$1.3M—as long as short
BloFin US-USDTshort+0.1015%4h0.01648+0.329%$478K$49K10x
Extended US-USD+0.1016%1h0.01645+0.151%$4K$141K5xas long as short
MEXC US_USDT+0.1016%4h0.01646+0.164%$5.5M$115K100xas long as short
Show all 11 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Binance USUSDT+0.1017%4h0.01643+0.024%$9.2M$3.2M10xas long as short