VELVET

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0227%/8h= −24.8% APRnext payment −$1.13 per $10,000 · paid last 24h +0.092%

Price spread now: Bybit against Binance0.000%7-day average +0.043% · you buy dearer than you sell

Net, funding: paid 7d − costs−$129as in the Funding arb table

Net, price: spread back to 7d avg − costs−$149as in the Price arb table

costs, in and out, $10k−$1441.443% of the position

Long on Binance Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.149%+$15 on $10k

Price spread, last 4 days (all we have)−0.022%−$2 · spread now 0.000%, 7d avg +0.043%

Together, before fees+0.127%+$13 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Bybit is 0.043% cheaper against Binance than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.043%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.149%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.149% in total (about 7.8% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.13 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 VELVETUSDT	0.05855	0.0327	pay 0.0163% / 4h	3h 30m	$4.3M	$5.4M	10x
Short	Bybit VELVETUSDT	0.05855	0.0100	get 0.0050% / 4h	3h 30m	$1.6M	$1.4M	5x

Funding 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 it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BinancebpFee BybitbpOrdersPrice spread, now 0.000%Rate

Funding earned: −$47.65
Price spread: 0.000% → +0.043%: −$4.29
Slippage, 4 orders: −$123.32
Fee Binance: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$196.26
Costs to cover: 1.443%
Break-even: never at this rate

Slippage from Binance: live order book, 7 min ago; Bybit: live order book, 1 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, 7 min ago	0.86 bp	23.8 bp −$24	269.2 bp −$2,692	doesn't fit	doesn't fit
Sell Bybit live order book, 1 min ago	8.54 bp	45.4 bp −$45	doesn't fit	doesn't fit	doesn't fit

VELVET on 13 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
Aster VELVETUSDT	+0.0100%	4h	0.05844	−0.196%	$9K	$18K	5x	as long as short
Bybit VELVETUSDTshort	+0.0100%	4h	0.05855	0.000%	$1.6M	$1.4M	5x
Gate VELVET_USDT	+0.0100%	4h	0.05845	−0.171%	$700K	$906K	10x	as long as short
KuCoin VELVETUSDTM	+0.0100%	4h	0.05838	−0.291%	$927K	$526K	10x	as long as short
Bitget VELVETUSDT	+0.0100%	4h	0.05863	+0.136%	$1.1M	$644K	10x	as long as short
HTX VELVET-USDT	+0.0100%	4h	0.05846	−0.154%	$12K	$23K	20x	as long as short
Variational Omni VELVET	+0.0112%	4h	0.05854	−0.018%	$35K	$51K	—	as long as short
BingX VELVET-USDT	+0.0286%	4h	0.05856	+0.017%	—	$1.4M	—	as long as short
edgeX VELVETUSDC	+0.0286%	4h	0.05839	−0.278%	$2K	$203K	10x	as long as short
MEXC VELVET_USDT	+0.0310%	4h	0.05854	−0.017%	$2.0M	$396K	50x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended VELVET-USD	+0.0312%	1h	0.05853	−0.029%	$2K	$163K	5x	as long as short
Binance VELVETUSDTlong	+0.0327%	4h	0.05855	long leg	$4.3M	$5.4M	10x
BloFin VELVET-USDT	+0.0550%	4h	0.05843	−0.205%	$260K	$131K	50x	as long as short