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Funding arb · Price arb /

BNC

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 08:00 UTC−0.1670%/8h= −182.8% APRnext payment −$16.70 per $10,000 · paid last 24h −0.092%
Price spread now: Bybit against Binance+0.407%7-day average −0.020% · you sell dearer than you buy
Net, funding: paid 7d − costs−$273as in the Funding arb table
Net, price: spread back to 7d avg − costs−$188as in the Price arb table
costs, in and out, $10k−$2312.305% of the position
Long on BinanceShort on Bybit
What this pair did over the last
the charts below follow
Funding, last 7 days−0.427%−$43 on $10k
Price spread, last 7 days−0.414%−$41 · spread now +0.407%, 7d avg −0.020%
Together, before fees−0.841%−$84 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Bybit is 0.427% dearer against Binance than usual: you sell high and buy low (spread +0.407% now, against its 7-day average of −0.020%): +$43 on $10k if it goes back. Holding the pair costs −$50 a day in funding at the current rate, which eats that in about 20 hours. At the pace of the last 7 days (−0.427% in total) that is about 7.0 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.427% in total (about -22.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$16.70 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
LongBinance BNCUSDT6.13800get 0.0000% / 8h5h 34m$13.2M$39.9M10x
ShortBybit BNCUSDT6.1630−0.1670pay 0.1670% / 8h5h 34m$645K$2.2M25x

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

Funding earned
−$350.61
Price spread: +0.407% → −0.020%
$42.74
Slippage, 4 orders
−$209.55
Fee Binance: 5 bp × 2 orders
−$10
Fee Bybit: 5.5 bp × 2 orders
−$11
Net
−$538.42
Costs to cover
2.305%
Break-even
never at this rate
Slippage from Binance: live order book, 7 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
LegHalf-spread$10k$100k$1M$5M
Buy Binance live order book, 7 min ago0.81 bp12.7 bp −$1347.1 bp −$471doesn't fitdoesn't fit
Sell Bybit live order book, 2 min ago8.30 bp100.2 bp −$100242.6 bp −$2,426doesn't fitdoesn't fit

BNC on 9 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
Bitget BNCUSDT−0.3730%8h6.1511+0.213%$998K$4.4M5xas long as short
Bybit BNCUSDTshort−0.1670%8h6.1630+0.407%$645K$2.2M25x
HTX BNC-USDT−0.0147%8h6.1220−0.261%$14K$34K10xas long as short
QFEX BNC-USD−0.0008%1h6.1300−0.130%$50K$40K10xas long as short
Binance BNCUSDTlong0.0000%8h6.1380long leg$13.2M$39.9M10x
Variational Omni BNC0.0000%8h6.0138−2.023%$113K$149K—as long as short
Bullet BNC-USD0.0000%1h6.1411+0.051%$9K$69K10xas long as short
Aster BNCUSD1+0.0057%8h6.2164+1.277%$178K$22K10xas long as short
KuCoin BNCUSDTM+0.0100%8h6.1750+0.603%$53K$3.0M20xas long as short