Funding you earn now, next payment 16:00 UTC+0.0213%/8h= +23.3% APRnext payment +$2.13 per $10,000 · paid last 24h −0.098%
Price spread now: Bybit against Binance+0.010%7-day average −0.041% · you sell dearer than you buy
Net, funding: paid 7d − costs−$111as in the Funding arb table
Net, price: spread back to 7d avg − costs−$92as in the Price arb table
costs, in and out, $10k−$970.969% of the position
Funding, last 7 days−0.143%−$14 on $10k
+Price spread, last 4 days (all we have)−0.152%−$15 · spread now +0.010%, 7d avg −0.041%
=Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Bybit is 0.051% dearer against Binance than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.041%. Mind the row above: over the last 7 days funding on this pair cost −0.143%, so the current rate has only just turned in your favour.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.143% in total (about -7.5% a year). A funding rate is set anew for every payment; at this rate the next one is about +$2.13 per $10,000. 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 | Binance EWJUSDT | 97.730 | 0 | get 0.0000% / 8h | 7h 57m | $1.1M | $866K | 20x |
| Short | Bybit EWJUSDT | 97.740 | 0.0213 | get 0.0213% / 8h | 7h 57m | $191K | $24K | 25x |
Binance EWJUSDT
Bybit EWJUSDTFunding 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $44.7
- Price spread: +0.010% → −0.041%
- $5.11
- Slippage, 4 orders
- −$75.95
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$47.14
- Costs to cover
- 0.969%
- Break-even
- 14.4 days
Slippage from Binance: live order book, 5 min ago; Bybit: live order book, 23 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 Binance live order book, 5 min ago | 0.51 bp | 14.7 bp −$15 | 54.4 bp −$544 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 23 min ago | 12.80 bp | 35.0 bp −$35 | doesn't fit | doesn't fit | doesn't fit |
EWJ on 16 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 | |
|---|---|---|---|---|---|---|---|---|
| Hotstuff EWJ-PERP | −0.0528% | 1h | 97.740 | +0.010% | $34K | — | 20x | as long as short |
| BloFin EWJ-USDT | −0.0020% | 8h | 97.720 | −0.010% | $43K | $68K | 20x | as long as short |
| Aster EWJUSDT | 0.0000% | 8h | 97.714 | −0.017% | $15K | $962 | 20x | as long as short |
| Binance EWJUSDTlong | 0.0000% | 8h | 97.730 | long leg | $1.1M | $866K | 20x | |
| OKX EWJ-USDT-SWAP | 0.0000% | 8h | 97.680 | −0.051% | $296K | $113K | 20x | as long as short |
| Gate EWJ_USDT | 0.0000% | 8h | 97.650 | −0.082% | $345K | $176K | 25x | as long as short |
| MEXC EWJ_USDT | 0.0000% | 8h | 97.710 | −0.020% | $403K | $104K | 20x | as long as short |
| Bitget EWJUSDT | 0.0000% | 8h | 97.700 | −0.031% | $744K | $143K | 20x | as long as short |
| Variational Omni EWJ | 0.0000% | 8h | 97.732 | +0.002% | $110K | $22K | — | as long as short |
| GRVT EWJ_USDT_Perp | 0.0000% | 8h | 97.712 | −0.018% | $627K | $401K | 10x | as long as short |
Hotstuff EWJ-PERP
BloFin EWJ-USDT
Aster EWJUSDT
OKX EWJ-USDT-SWAP
Gate EWJ_USDT
MEXC EWJ_USDT
Bitget EWJUSDT
Variational Omni EWJ
GRVT EWJ_USDT_PerpShow all 16 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX EWJ-USDT | 0.0000% | 8h | 97.660 | −0.072% | $1K | $1.4M | 20x | as long as short |
| HTX EWJ-USDT | 0.0000% | 8h | 97.580 | −0.153% | $8K | $38K | 20x | as long as short |
| tradeXYZ xyz:EWJ | +0.0050% | 1h | 97.694 | −0.037% | $1.5M | $545K | 20x | as long as short |
| KuCoin EWJUSDTM | +0.0100% | 8h | 97.700 | −0.031% | $150K | $1.0M | 20x | as long as short |
| Bybit EWJUSDTshort | +0.0213% | 8h | 97.740 | +0.010% | $191K | $24K | 25x | |
| edgeX EWJUSDC | +0.0639% | 4h | 97.729 | −0.001% | $596K | $231K | 20x | as long as short |
SunX EWJ-USDT
HTX EWJ-USDT
tradeXYZ xyz:EWJ
KuCoin EWJUSDTM
edgeX EWJUSDC