Funding you earn now, next payment 06:00 UTC−0.1481%/8h= −162.2% APRpaid last 24h +0.112%
Price spread now: Bitget against Paragon−0.238%7-day average +0.114% · you buy dearer than you sell
Net, funding: paid 7d − costs−$372as in the Funding arb table
Net, price: spread back to 7d avg − costs−$358as in the Price arb table
costs, in and out, $10k−$3233.226% of the position
Funding, last 7 days−0.493%−$49 on $10k
+Price spread, last 4 days (all we have)+0.347%+$35 · spread now −0.238%, 7d avg +0.114%
=Both sides work against this trade now: funding costs −$44 a day on $10k at the current rate, and Bitget is 0.353% cheaper against Paragon than usual: you would sell low and buy high (−$35 if the spread goes back to its 7-day average of +0.114%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.493% in total (about -25.7% 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 | 366.35 | 0.1478 | pay 0.0185% / 1h | 36m 11s | $66K | $132K | 10x |
| Short | Bitget CIENUSDT | 365.48 | −0.0003 | pay 0.0003% / 8h | 2h 36m | $97K | $195K | 20x |
Paragon para:CIEN
Bitget CIENUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bitget 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
- −$311.06
- Price spread: −0.238% → +0.114%
- −$35.26
- Slippage, 4 orders
- −$300.58
- Fee Paragon: 5 bp × 2 orders
- −$10
- Fee Bitget: 6 bp × 2 orders
- −$12
- Net
- −$668.89
- Costs to cover
- 3.226%
- Break-even
- never at this rate
Slippage from Paragon: live order book, 1 min ago; Bitget: live order book, 3 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, 1 min ago | 40.51 bp | 45.5 bp −$46 | 155.5 bp −$1,555 | doesn't fit | doesn't fit |
| Sell Bitget live order book, 3 min ago | 16.74 bp | 30.0 bp −$30 | 54.7 bp −$547 | 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 CIENUSDTshort | −0.0003% | 8h | 365.48 | −0.238% | $97K | $195K | 20x | |
| Binance CIENUSDT | 0.0000% | 8h | 365.43 | −0.252% | $529K | $1.3M | 20x | as long as short |
| Bybit CIENUSDT | 0.0000% | 8h | 365.82 | −0.145% | $175K | $314K | 25x | as long as short |
| OKX CIEN-USDT-SWAP | 0.0000% | 8h | 365.39 | −0.263% | $132K | $187K | 20x | as long as short |
| Gate CIEN_USDT | 0.0000% | 8h | 366.00 | −0.096% | $286K | $40K | 20x | as long as short |
| Variational Omni CIEN | 0.0000% | 8h | 365.07 | −0.350% | $48K | $55K | — | as long as short |
| QFEX CIEN-USD | +0.0002% | 1h | 364.86 | −0.407% | $1.1M | $3.9M | 10x | as long as short |
| KuCoin CIENUSDTM | +0.0100% | 8h | 364.89 | −0.399% | $104K | $187K | 20x | as long as short |
| SunX CIEN-USDT | +0.0100% | 8h | 365.77 | −0.159% | $918 | $875K | 10x | as long as short |
| HTX CIEN-USDT | +0.0100% | 8h | 368.63 | +0.622% | $9K | $42K | 10x | as long as short |
Binance 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 | +0.1478% | 1h | 366.35 | long leg | $66K | $132K | 10x |