Funding you earn now, next payment 06:00 UTC−0.0689%/8h= −75.4% APRpaid last 24h −0.107%
Price spread now: Bybit against Paragon−0.081%7-day average +0.087% · you buy dearer than you sell
Net, funding: paid 7d − costs−$289as in the Funding arb table
Net, price: spread back to 7d avg − costs−$233as in the Price arb table
costs, in and out, $10k−$2172.167% of the position
Funding, last 7 days−0.723%−$72 on $10k
+Price spread, last 4 days (all we have)+0.120%+$12 · spread now −0.081%, 7d avg +0.087%
=Both sides work against this trade now: funding costs −$21 a day on $10k at the current rate, and Bybit is 0.168% cheaper against Paragon than usual: you would sell low and buy high (−$17 if the spread goes back to its 7-day average of +0.087%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Paragon para:CIEN | 366.71 | 0.0689 | pay 0.0086% / 1h | 13m 13s | $66K | $132K | 10x |
| Short | Bybit CIENUSDT | 366.41 | 0 | get 0.0000% / 8h | 2h 13m | $175K | $194K | 25x |
Paragon para:CIEN
Bybit CIENUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit 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
- −$144.68
- Price spread: −0.081% → +0.087%
- −$16.76
- Slippage, 4 orders
- −$195.67
- Fee Paragon: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$378.1
- Costs to cover
- 2.167%
- Break-even
- never at this rate
Slippage from Paragon: live order book, 24 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| Leg | Half-spread | $10k | $100k | $1M | $5M |
|---|---|---|---|---|---|
| Buy Paragon live order book, 24 min ago | 40.51 bp | 45.5 bp −$46 | 155.5 bp −$1,555 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 2 min ago | 15.58 bp | 64.3 bp −$64 | 233.6 bp −$2,336 | 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 | −0.0174% | 8h | 366.39 | −0.086% | $97K | $195K | 20x | as long as short |
| Binance CIENUSDT | 0.0000% | 8h | 366.41 | −0.082% | $528K | $1.3M | 20x | as long as short |
| Bybit CIENUSDTshort | 0.0000% | 8h | 366.41 | −0.081% | $175K | $194K | 25x | |
| OKX CIEN-USDT-SWAP | 0.0000% | 8h | 365.94 | −0.209% | $132K | $188K | 20x | as long as short |
| Gate CIEN_USDT | 0.0000% | 8h | 366.10 | −0.165% | $286K | $40K | 20x | as long as short |
| Variational Omni CIEN | 0.0000% | 8h | 365.94 | −0.208% | $48K | $55K | — | as long as short |
| QFEX CIEN-USD | +0.0002% | 1h | 365.81 | −0.244% | $1.1M | $3.8M | 10x | as long as short |
| KuCoin CIENUSDTM | +0.0100% | 8h | 365.54 | −0.318% | $104K | $184K | 20x | as long as short |
| SunX CIEN-USDT | +0.0100% | 8h | 366.03 | −0.184% | $959 | $872K | 10x | as long as short |
| HTX CIEN-USDT | +0.0100% | 8h | 369.16 | +0.669% | $9K | $42K | 10x | as long as short |
Bitget CIENUSDT
Binance 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 | +0.0689% | 1h | 366.71 | long leg | $66K | $132K | 10x |