Funding you earn now, next payment 04:00 UTC−0.0250%/8h= −27.4% APRnext payment −$1.25 per $10,000 · paid last 24h −0.057%
Price spread now: Bybit against Gate−0.030%7-day average +0.004% · you buy dearer than you sell
Net, funding: paid 7d − costs−$77as in the Funding arb table
Net, price: spread back to 7d avg − costs−$67as in the Price arb table
costs, in and out, $10k−$630.632% of the position
Funding, last 7 days−0.138%−$14 on $10k
+Price spread, last 4 days (all we have)+0.034%+$3 · spread now −0.030%, 7d avg +0.004%
=Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Bybit is 0.034% cheaper against Gate than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.004%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.138% in total (about -7.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.25 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 USD1_USDT | 0.9994 | 0.0100 | pay 0.0050% / 4h | 3h 44m | $105K | $6K | 50x |
| Short | Bybit USD1USDT | 0.9991 | −0.0150 | pay 0.0075% / 4h | 3h 44m | $577K | $25K | 50x |
Gate USD1_USDT
Bybit USD1USDTFunding 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
- −$52.58
- Price spread: −0.030% → +0.004%
- −$3.41
- Slippage, 4 orders
- −$37.22
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$119.22
- Costs to cover
- 0.632%
- Break-even
- never at this rate
Slippage from Gate: live order book, 21 min ago; Bybit: live order book, 21 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 | 9.52 bp | 18.1 bp −$18 | 21.1 bp −$211 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 21 min ago | 0.50 bp | 6.7 bp −$7 | 15.0 bp −$150 | doesn't fit | doesn't fit |
USD1 on 3 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 USD1USDTshort | −0.0150% | 4h | 0.9991 | −0.030% | $577K | $25K | 50x | |
| Aster USD1USDT | −0.0112% | 8h | 0.9997 | +0.028% | $22K | $5K | 20x | as long as short |
| Gate USD1_USDTlong | +0.0100% | 4h | 0.9994 | long leg | $105K | $6K | 50x |
Aster USD1USDT