Funding you earn now, next payment 16:00 UTC+0.0185%/8h= +20.2% APRnext payment +$1.85 per $10,000 · paid last 24h +0.039%
Price spread now: Bybit against Binance+0.048%7-day average +0.032% · you sell dearer than you buy
Net, funding: paid 7d − costs−$15as in the Funding arb table
Net, price: spread back to 7d avg − costs−$20as in the Price arb table
costs, in and out, $10k−$220.220% of the position
Funding, last 7 days+0.071%+$7 on $10k
+Price spread, last 7 days−0.021%−$2 · spread now +0.048%, 7d avg +0.032%
=The price spread sits at its 7-day average of +0.032%, so right now this pair is about funding alone: +$6 a day on $10k at the current rate.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.071% in total (about 3.7% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.85 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 USDCUSDT | 0.9996 | −0.0085 | get 0.0085% / 8h | 7h 05m | $4.8M | $4.4M | 50x |
| Short | Bybit USDCUSDT | 1.0001 | 0.0100 | get 0.0100% / 8h | 7h 05m | $9.5M | $166K | 50x |
Binance USDCUSDT
Bybit USDCUSDTFunding 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
- $38.76
- Price spread: +0.048% → +0.032%
- $1.62
- Slippage, 4 orders
- −$1.01
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- $18.37
- Costs to cover
- 0.220%
- Break-even
- 3.7 days
Slippage from Binance: live order book, 2 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, 2 min ago | 0.00 bp | 5.0 bp −$5 | 5.0 bp −$50 | 5.5 bp −$555 | doesn't fit |
| Sell Bybit live order book, 3 min ago | 0.50 bp | 6.0 bp −$6 | 7.8 bp −$78 | 146.3 bp −$14.6K | doesn't fit |
USDC on 8 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 | |
|---|---|---|---|---|---|---|---|---|
| KuCoin USDCUSDTM | −0.0156% | 8h | 0.9990 | −0.058% | $2.5M | $20K | 30x | as long as short |
| Binance USDCUSDTlong | −0.0085% | 8h | 0.9996 | long leg | $4.8M | $4.4M | 50x | |
| MEXC USDC_USDT | −0.0084% | 8h | 0.9996 | 0.000% | $20.9M | $753K | 200x | as long as short |
| Bitget USDCUSDT | −0.0071% | 8h | 0.9994 | −0.022% | $4.3M | $8K | 50x | as long as short |
| Kraken Futures PF_USDCUSD | −0.0066% | 1h | 0.9997 | +0.013% | $14K | $924 | 50x | as long as short |
| OKX USDC-USDT-SWAP | 0.0000% | 8h | 1.0002 | +0.062% | $1.1M | $40K | 50x | as long as short |
| Bybit USDCUSDTshort | +0.0100% | 8h | 1.0001 | +0.048% | $9.5M | $166K | 50x | |
| Gate USDC_USDT | +0.0100% | 8h | 0.9992 | −0.042% | $253K | $27K | 50x | as long as short |
KuCoin USDCUSDTM
MEXC USDC_USDT
Bitget USDCUSDT
Kraken Futures PF_USDCUSD
OKX USDC-USDT-SWAP
Gate USDC_USDT