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Funding arb · Price arb /

GPRO

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 06:00 UTC−0.3012%/8h= −329.8% APRpaid last 24h −0.334%
Price spread now: Bybit against Entropy+0.553%7-day average +0.297% · you sell dearer than you buy
Net, funding: paid 7d − costs−$633as in the Funding arb table
Net, price: spread back to 7d avg − costs−$419as in the Price arb table
costs, in and out, $10k−$4444.442% of the position
Long on EntropyShort on Bybit
What this pair did over the last
the charts below follow
Funding, last 7 days−1.892%−$189 on $10k
Price spread, last 4 days (all we have)−0.356%−$36 · spread now +0.553%, 7d avg +0.297%
Together, before fees−2.248%−$225 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Bybit is 0.257% dearer against Entropy than usual: you sell high and buy low (spread +0.553% now, against its 7-day average of +0.297%): +$26 on $10k if it goes back. Holding the pair costs −$90 a day in funding at the current rate, which eats that in about 7 hours. At the pace of the last 7 days (−1.892% in total) that is about 23 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -1.892% in total (about -98.7% 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.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongEntropy io:GPRO1.30100.3012pay 0.0376% / 1h36m 58s$470K$30.6M5x
ShortBybit GPROUSDT1.30820get 0.0000% / 8h2h 36m$362K$225K25x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bybit against Entropy. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

click an exchange to add or hide it
latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
−$632.49
Price spread: +0.553% → +0.297%
$25.66
Slippage, 4 orders
−$415.21
Fee Entropy: 9 bp × 2 orders
−$18
Fee Bybit: 5.5 bp × 2 orders
−$11
Net
−$1,051.04
Costs to cover
4.442%
Break-even
never at this rate
Slippage from Entropy: live order book, 10 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
LegHalf-spread$10k$100k$1M$5M
Buy Entropy live order book, 10 min ago33.39 bp117.4 bp −$117doesn't fitdoesn't fitdoesn't fit
Sell Bybit live order book, 2 min ago7.27 bp119.8 bp −$120doesn't fitdoesn't fitdoesn't fit

GPRO on 12 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bybit GPROUSDTshort0.0000%8h1.3082+0.553%$362K$225K25x
QFEX GPRO-USD0.0000%1h1.3100+0.692%$1.2M$31K10xas long as short
Gate GPRO_USDT0.0000%8h1.3025+0.115%$55K$130K20xas long as short
Bitget GPROUSDT0.0000%8h1.3036+0.200%$398K$2.6M20xas long as short
SunX GPRO-USDT0.0000%8h1.3030+0.154%—$1.8M10xas long as short
HTX GPRO-USDT0.0000%8h1.3020+0.077%$8K$210K20xas long as short
OKX GPRO-USDT-SWAP+0.1017%8h1.2980−0.231%$546K$698K10xas long as short
Binance GPROUSDT+0.1056%8h1.3020+0.077%$890K$1.7M20xas long as short
Variational Omni GPRO+0.1099%8h1.3028+0.138%$38K$32K—as long as short
KuCoin GPROUSDTM+0.1166%8h1.3030+0.154%$64K$1.3M20xas long as short
Show all 12 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Aster GPROUSD1+0.1250%8h1.3022+0.089%$7.7M$12.8M20xas long as short
Entropy io:GPROlong+0.3012%1h1.3010long leg$470K$30.6M5x