Funding you earn now, next payment 08:00 UTC−0.0100%/8h= −10.9% APRnext payment −$1.00 per $10,000 · paid last 24h −0.022%
Price spread now: Bybit against Gate+0.100%7-day average +0.055% · you sell dearer than you buy
Net, funding: paid 7d − costs−$54as in the Funding arb table
Net, price: spread back to 7d avg − costs−$34as in the Price arb table
costs, in and out, $10k−$380.381% of the position
Funding, last 7 days−0.155%−$16 on $10k
+Price spread, last 4 days (all we have)−0.046%−$5 · spread now +0.100%, 7d avg +0.055%
=The price spread pays, funding is against you. Bybit is 0.045% dearer against Gate than usual: you sell high and buy low (spread +0.100% now, against its 7-day average of +0.055%): +$5 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 36 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Gate USDC_USDT | 0.9990 | 0.0100 | pay 0.0100% / 8h | 6h 51m | $253K | $35K | 50x |
| Short | Bybit USDCUSDT | 1.0000 | 0 | get 0.0000% / 8h | 6h 51m | $9.5M | $344K | 50x |
Gate USDC_USDT
Bybit USDCUSDTFunding 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
- −$21
- Price spread: +0.100% → +0.055%
- $4.54
- Slippage, 4 orders
- −$12.06
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$54.52
- Costs to cover
- 0.381%
- Break-even
- never at this rate
Slippage from Gate: live order book, 10 min ago; Bybit: live order book, 2 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, 10 min ago | 1.00 bp | 15.5 bp −$15 | 49.9 bp −$499 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 2 min ago | 0.50 bp | 6.0 bp −$6 | 10.0 bp −$100 | 150.2 bp −$15.0K | 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 | |
|---|---|---|---|---|---|---|---|---|
| Bitget USDCUSDT | −0.0159% | 8h | 0.9993 | +0.030% | $4.3M | $17K | 50x | as long as short |
| Binance USDCUSDT | −0.0155% | 8h | 0.9995 | +0.051% | $4.6M | $4.3M | 50x | as long as short |
| MEXC USDC_USDT | −0.0154% | 8h | 0.9995 | +0.051% | $19.4M | $584K | 200x | as long as short |
| KuCoin USDCUSDTM | −0.0080% | 8h | 0.9994 | +0.040% | $2.5M | $20K | 30x | as long as short |
| Kraken Futures PF_USDCUSD | −0.0059% | 1h | 0.9997 | +0.075% | $14K | $930 | 50x | as long as short |
| Bybit USDCUSDTshort | 0.0000% | 8h | 1.0000 | +0.100% | $9.5M | $344K | 50x | |
| OKX USDC-USDT-SWAP | 0.0000% | 8h | 1.0000 | +0.099% | $1.1M | $43K | 50x | as long as short |
| Gate USDC_USDTlong | +0.0100% | 8h | 0.9990 | long leg | $253K | $35K | 50x |
Bitget USDCUSDT
Binance USDCUSDT
MEXC USDC_USDT
KuCoin USDCUSDTM
Kraken Futures PF_USDCUSD
OKX USDC-USDT-SWAP