Funding you earn now, next payment 08:00 UTC−0.0220%/8h= −24.1% APRnext payment −$2.20 per $10,000 · paid last 24h −0.026%
Price spread now: Bybit against Binance−0.020%7-day average −0.068% · you buy dearer than you sell
Net, funding: paid 7d − costs−$64as in the Funding arb table
Net, price: spread back to 7d avg − costs−$48as in the Price arb table
costs, in and out, $10k−$530.528% of the position
Funding, last 7 days−0.110%−$11 on $10k
+Price spread, last 2 days (all we have)−0.049%−$5 · spread now −0.020%, 7d avg −0.068%
=The price spread pays, funding is against you. Bybit is 0.048% dearer against Binance than usual: you sell high and buy low (spread −0.020% now, against its 7-day average of −0.068%): +$5 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 17 hours. At the pace of the last 7 days (−0.110% in total) that is about 3.1 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.110% in total (about -5.7% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.20 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 IBMUSDT | 231.66 | 0.0220 | pay 0.0220% / 8h | 7h 59m | $3.9M | $5.9M | 20x |
| Short | Bybit IBMUSDT | 231.61 | 0 | get 0.0000% / 8h | 7h 59m | $977K | $375K | 50x |
Binance IBMUSDT
Bybit IBMUSDTFunding 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
- −$46.25
- Price spread: −0.020% → −0.068%
- $4.79
- Slippage, 4 orders
- −$31.76
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$94.22
- Costs to cover
- 0.528%
- Break-even
- never at this rate
Slippage from Binance: live order book, 9 min ago; Bybit: live order book, 11 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, 9 min ago | 0.43 bp | 13.3 bp −$13 | 31.9 bp −$319 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 11 min ago | 2.16 bp | 11.8 bp −$12 | 77.4 bp −$774 | doesn't fit | doesn't fit |
IBM on 18 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 | |
|---|---|---|---|---|---|---|---|---|
| Aster IBMUSDT | 0.0000% | 8h | 231.62 | −0.016% | $13K | $127K | 20x | as long as short |
| Bybit IBMUSDTshort | 0.0000% | 8h | 231.61 | −0.020% | $977K | $375K | 50x | |
| OKX IBM-USDT-SWAP | 0.0000% | 8h | 231.66 | +0.001% | $1.4M | $1.1M | 20x | as long as short |
| Gate IBM_USDT | 0.0000% | 8h | 231.57 | −0.038% | $797K | $1.5M | 50x | as long as short |
| Bitget IBMUSDT | 0.0000% | 8h | 231.56 | −0.042% | $793K | $377K | 20x | as long as short |
| Variational Omni IBM | 0.0000% | 8h | 231.56 | −0.042% | $256K | $15K | — | as long as short |
| SunX IBM-USDT | 0.0000% | 8h | 231.38 | −0.120% | $1K | $536K | 10x | as long as short |
| HTX IBM-USDT | 0.0000% | 8h | 231.84 | +0.079% | $5K | $34K | 20x | as long as short |
| QFEX IBM-USD | +0.0031% | 1h | 231.54 | −0.051% | $1.2M | $3.3M | 10x | as long as short |
| Lighter IBM | +0.0032% | 1h | 231.50 | −0.068% | $38K | $43K | 10x | as long as short |
Aster IBMUSDT
OKX IBM-USDT-SWAP
Gate IBM_USDT
Bitget IBMUSDT
Variational Omni IBM
SunX IBM-USDT
HTX IBM-USDT
QFEX IBM-USD
Lighter IBMShow all 18 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Injective IBM/USDC PERP | +0.0033% | 1h | 201.05 | −13.212% | — | $57 | 12x | as long as short |
| Vest IBM-USD-PERP | +0.0046% | 1h | 231.40 | −0.111% | — | — | 25x | as long as short |
| tradeXYZ xyz:IBM | +0.0050% | 1h | 231.48 | −0.076% | $2.0M | $819K | 10x | as long as short |
| KuCoin IBMUSDTM | +0.0100% | 8h | 231.47 | −0.081% | $194K | $33K | 20x | as long as short |
| BloFin IBM-USDT | +0.0187% | 8h | 231.67 | +0.006% | $46K | $52K | 20x | as long as short |
| Extended IBM-USD | +0.0216% | 1h | 231.56 | −0.040% | $54K | $202K | 10x | as long as short |
| Binance IBMUSDTlong | +0.0220% | 8h | 231.66 | long leg | $3.9M | $5.9M | 20x | |
| GRVT IBM_USDT_Perp | +0.0448% | 8h | 231.56 | −0.042% | $590 | $169K | 10x | as long as short |
Injective IBM/USDC PERP
Vest IBM-USD-PERP
tradeXYZ xyz:IBM
KuCoin IBMUSDTM
BloFin IBM-USDT
Extended IBM-USD
GRVT IBM_USDT_Perp