Funding you earn now, next payment 07:00 UTC−0.1125%/8h= −123.2% APRpaid last 24h −0.081%
Price spread now: Binance against Paragon−0.299%7-day average +0.195% · you buy dearer than you sell
Net, funding: paid 7d − costs−$206as in the Funding arb table
Net, price: spread back to 7d avg − costs−$184as in the Price arb table
costs, in and out, $10k−$1351.345% of the position
Funding, last 7 days−0.710%−$71 on $10k
+Price spread, last 4 days (all we have)+0.480%+$48 · spread now −0.299%, 7d avg +0.195%
=Both sides work against this trade now: funding costs −$34 a day on $10k at the current rate, and Binance is 0.495% cheaper against Paragon than usual: you would sell low and buy high (−$49 if the spread goes back to its 7-day average of +0.195%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.710% in total (about -37.0% a year). A funding rate is set anew for every payment. 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 | Paragon para:CIEN | 367.55 | 0.1125 | pay 0.0141% / 1h | 57m 51s | $66K | $132K | 10x |
| Short | Binance CIENUSDT | 366.45 | 0 | get 0.0000% / 8h | 1h 57m | $510K | $1.3M | 20x |
Paragon para:CIEN
Binance CIENUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Paragon. 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
- −$236.22
- Price spread: −0.299% → +0.195%
- −$49.46
- Slippage, 4 orders
- −$114.55
- Fee Paragon: 5 bp × 2 orders
- −$10
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$420.22
- Costs to cover
- 1.345%
- Break-even
- never at this rate
Slippage from Paragon: live order book, 39 min ago; Binance: live order book, 5 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 Paragon live order book, 39 min ago | 40.51 bp | 45.5 bp −$46 | 155.5 bp −$1,555 | doesn't fit | doesn't fit |
| Sell Binance live order book, 5 min ago | 3.27 bp | 18.0 bp −$18 | 93.5 bp −$935 | doesn't fit | doesn't fit |
CIEN on 11 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 CIENUSDT | −0.0153% | 8h | 366.98 | −0.155% | $97K | $195K | 20x | as long as short |
| Binance CIENUSDTshort | 0.0000% | 8h | 366.45 | −0.299% | $510K | $1.3M | 20x | |
| Bybit CIENUSDT | 0.0000% | 8h | 366.76 | −0.215% | $175K | $186K | 25x | as long as short |
| OKX CIEN-USDT-SWAP | 0.0000% | 8h | 366.60 | −0.259% | $132K | $188K | 20x | as long as short |
| Gate CIEN_USDT | 0.0000% | 8h | 367.10 | −0.122% | $297K | $41K | 20x | as long as short |
| Variational Omni CIEN | 0.0000% | 8h | 367.01 | −0.148% | $49K | $55K | — | as long as short |
| QFEX CIEN-USD | +0.0002% | 1h | 367.41 | −0.038% | $1.1M | $3.6M | 10x | as long as short |
| KuCoin CIENUSDTM | +0.0100% | 8h | 366.35 | −0.327% | $104K | $185K | 20x | as long as short |
| SunX CIEN-USDT | +0.0100% | 8h | 367.11 | −0.120% | $507 | $875K | 10x | as long as short |
| HTX CIEN-USDT | +0.0100% | 8h | 368.93 | +0.375% | $9K | $42K | 10x | as long as short |
Bitget CIENUSDT
Bybit CIENUSDT
OKX CIEN-USDT-SWAP
Gate CIEN_USDT
Variational Omni CIEN
QFEX CIEN-USD
KuCoin CIENUSDTM
SunX CIEN-USDT
HTX CIEN-USDTShow all 11 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Paragon para:CIENlong | +0.1125% | 1h | 367.55 | long leg | $66K | $132K | 10x |