Funding you earn now, next payment 08:00 UTC−0.0857%/8h= −93.9% APRnext payment −$8.57 per $10,000 · paid last 24h +0.054%
Price spread now: Bitget against Bybit−0.099%7-day average +0.028% · you buy dearer than you sell
Net, funding: paid 7d − costs−$416as in the Funding arb table
Net, price: spread back to 7d avg − costs−$429as in the Price arb table
costs, in and out, $10k−$4164.165% of the position
Funding, last 7 days+0.009%+$1 on $10k
+Price spread, last 4 days (all we have)−0.013%−$1 · spread now −0.099%, 7d avg +0.028%
=Both sides work against this trade now: funding costs −$26 a day on $10k at the current rate, and Bitget is 0.128% cheaper against Bybit than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of +0.028%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.009% in total (about 0.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$8.57 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 | Bybit FWDIUSDT | 8.0570 | −0.0138 | get 0.0138% / 8h | 1h 48m | $360K | $304K | 25x |
| Short | Bitget FWDIUSDT | 8.0490 | −0.0995 | pay 0.0995% / 8h | 1h 48m | $428K | $176K | 5x |
Bybit FWDIUSDT
Bitget FWDIUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bitget against Bybit. 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
- −$180.07
- Price spread: −0.099% → +0.028%
- −$12.75
- Slippage, 4 orders
- −$393.49
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Bitget: 6 bp × 2 orders
- −$12
- Net
- −$609.31
- Costs to cover
- 4.165%
- Break-even
- never at this rate
Slippage from Bybit: live order book, 56 min ago; Bitget: live order book, 52 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 Bybit live order book, 56 min ago | 7.45 bp | 125.6 bp −$126 | 237.1 bp −$2,371 | doesn't fit | doesn't fit |
| Sell Bitget live order book, 52 min ago | 11.19 bp | 52.3 bp −$52 | 63.9 bp −$639 | 158.1 bp −$15.8K | 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 FWDIUSDTshort | −0.0995% | 8h | 8.0490 | −0.099% | $428K | $176K | 5x | |
| Binance FWDIUSDT | −0.0473% | 8h | 8.0510 | −0.074% | $452K | $1.6M | 10x | as long as short |
| OKX FWDI-USDT-SWAP | −0.0415% | 8h | 8.0470 | −0.124% | $319K | $247K | 10x | as long as short |
| Variational Omni FWDI | −0.0212% | 8h | 8.0492 | −0.097% | $114K | $2K | — | as long as short |
| Bybit FWDIUSDTlong | −0.0138% | 8h | 8.0570 | long leg | $360K | $304K | 25x | |
| QFEX FWDI-USD | 0.0000% | 1h | 8.0500 | −0.087% | $1.1M | $367K | 10x | as long as short |
| HTX FWDI-USDT | 0.0000% | 8h | 8.0530 | −0.050% | $7K | $63K | 10x | as long as short |
Binance FWDIUSDT
OKX FWDI-USDT-SWAP
Variational Omni FWDI
QFEX FWDI-USD
HTX FWDI-USDT