Funding you earn now, next payment 08:00 UTC+0.0486%/8h= +53.2% APRnext payment +$4.86 per $10,000 · paid last 24h −0.021%
Price spread now: Binance against Bitget−0.215%7-day average +0.092% · you buy dearer than you sell
Net, funding: paid 7d − costs−$329as in the Funding arb table
Net, price: spread back to 7d avg − costs−$379as in the Price arb table
costs, in and out, $10k−$3483.478% of the position
Funding, last 7 days+0.189%+$19 on $10k
+Price spread, last 4 days (all we have)+1.380%+$138 · spread now −0.215%, 7d avg +0.092%
=Funding pays, the price is against you. Binance is 0.307% cheaper against Bitget than usual: you would sell low and buy high (spread −0.215% now, against its 7-day average of +0.092%). If the spread goes back, that is −$31 on $10k: about 2.1 days of funding at the current rate (+$15 a day). At the pace of the last 7 days (+0.189% in total) that is about 11 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.189% in total (about 9.9% a year). A funding rate is set anew for every payment; at this rate the next one is about +$4.86 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 | Bitget FWDIUSDT | 8.0510 | −0.0855 | get 0.0855% / 8h | 40m 21s | $428K | $184K | 5x |
| Short | Binance FWDIUSDT | 8.0337 | −0.0369 | pay 0.0369% / 8h | 40m 21s | $450K | $1.5M | 10x |
Bitget FWDIUSDT
Binance FWDIUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Bitget. 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
- $102
- Price spread: −0.215% → +0.092%
- −$30.69
- Slippage, 4 orders
- −$325.82
- Fee Bitget: 6 bp × 2 orders
- −$12
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$276.5
- Costs to cover
- 3.478%
- Break-even
- 26.0 days
Slippage from Bitget: live order book, 55 min ago; Binance: live order book, 8 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 Bitget live order book, 55 min ago | 13.09 bp | 118.8 bp −$119 | 130.8 bp −$1,308 | 334.4 bp −$33.4K | doesn't fit |
| Sell Binance live order book, 8 min ago | 0.62 bp | 65.0 bp −$65 | 749.3 bp −$7,493 | doesn't fit | doesn't fit |
FWDI on 7 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 FWDIUSDTlong | −0.0855% | 8h | 8.0510 | long leg | $428K | $184K | 5x | |
| Binance FWDIUSDTshort | −0.0369% | 8h | 8.0337 | −0.215% | $450K | $1.5M | 10x | |
| OKX FWDI-USDT-SWAP | −0.0343% | 8h | 8.0350 | −0.199% | $318K | $243K | 10x | as long as short |
| Variational Omni FWDI | −0.0060% | 8h | 8.0324 | −0.231% | $114K | $955 | — | as long as short |
| Bybit FWDIUSDT | 0.0000% | 8h | 8.0370 | −0.174% | $358K | $300K | 25x | as long as short |
| HTX FWDI-USDT | 0.0000% | 8h | 8.0340 | −0.211% | $7K | $63K | 10x | as long as short |
| QFEX FWDI-USD | +0.0050% | 1h | 8.0200 | −0.385% | $1.1M | $336K | 10x | as long as short |
OKX FWDI-USDT-SWAP
Variational Omni FWDI
Bybit FWDIUSDT
HTX FWDI-USDT
QFEX FWDI-USD