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Funding arb · Price arb /

BX

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 00:00 UTC−0.0905%/8h= −99.1% APRnext payment −$9.05 per $10,000 · paid last 24h −0.004%
Price spread now: Bybit against Binance−0.040%7-day average −0.028% · you buy dearer than you sell
Net, funding: paid 7d − costs−$256as in the Funding arb table
Net, price: spread back to 7d avg − costs−$252as in the Price arb table
costs, in and out, $10k−$2512.507% of the position
Long on BinanceShort on Bybit
What this pair did over the last
the charts below follow
Funding, last 7 days−0.054%−$5 on $10k
Price spread, last 2 days (all we have)−0.056%−$6 · spread now −0.040%, 7d avg −0.028%
Together, before fees−0.110%−$11 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.028%, so right now this pair is about funding alone: −$27 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 -0.054% in total (about -2.8% a year). A funding rate is set anew for every payment; at this rate the next one is about −$9.05 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 BXUSDT126.510.0905pay 0.0905% / 8h1h 38m$804K$454K20x
ShortBybit BXUSDT126.460get 0.0000% / 8h1h 38m$499K$856K25x

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
−$189.96
Price spread: −0.040% → −0.028%
−$1.2
Slippage, 4 orders
−$229.69
Fee Binance: 5 bp × 2 orders
−$10
Fee Bybit: 5.5 bp × 2 orders
−$11
Net
−$441.85
Costs to cover
2.507%
Break-even
never at this rate
Slippage from Binance: live order book, 24 min ago; Bybit: live order book, 42 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, 24 min ago1.58 bp23.6 bp −$24120.8 bp −$1,208doesn't fitdoesn't fit
Sell Bybit live order book, 42 min ago2.37 bp96.2 bp −$96244.7 bp −$2,447doesn't fitdoesn't fit

BX on 14 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
QFEX BX-USD−0.0080%1h131.46+3.913%$1.2M$1.3M10xas long as short
Aster BXUSDT0.0000%8h126.20−0.246%$5K$2K20xas long as short
Bybit BXUSDTshort0.0000%8h126.46−0.040%$499K$856K25x
Gate BX_USDT0.0000%8h126.43−0.063%$425K$20K20xas long as short
Bitget BXUSDT0.0000%8h126.52+0.008%$903K$46K20xas long as short
SunX BX-USDT0.0000%8h126.50−0.008%$1K$301K10xas long as short
HTX BX-USDT0.0000%8h126.64+0.103%$7K$3K20xas long as short
OKX BX-USDT-SWAP+0.0049%8h126.37−0.111%$159K$101K20xas long as short
Injective BX/USDC PERP+0.0220%1h126.23−0.221%$1K$27K12xas long as short
tradeXYZ xyz:BX+0.0582%1h126.37−0.111%$663K$177K10xas long as short
Show all 14 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Variational Omni BX+0.0612%8h126.50−0.008%$31K$127—as long as short
KuCoin BXUSDTM+0.0618%8h126.41−0.079%$112K$1.1M20xas long as short
Binance BXUSDTlong+0.0905%8h126.51long leg$804K$454K20x
GRVT BX_USDT_Perp+0.1775%8h126.53+0.013%$1K$126K10xas long as short