Funding you earn now, next payment 00:00 UTC−0.0050%/8h= −5.5% APRnext payment −$0.50 per $10,000 · paid last 24h −0.015%
Price spread now: Bybit against Binance+2.956%7-day average +3.073% · you sell dearer than you buy
Net, funding: paid 7d − costs−$205as in the Funding arb table
Net, price: spread back to 7d avg − costs−$207as in the Price arb table
costs, in and out, $10k−$1951.949% of the position
Funding, last 7 days−0.105%−$11 on $10k
+Price spread, last 2 days (all we have)+0.053%+$5 · spread now +2.956%, 7d avg +3.073%
=Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Bybit is 0.117% cheaper against Binance than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of +3.073%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance OPENAIUSDT | 1,624.9 | 0.0050 | pay 0.0050% / 8h | 2h 23m | $23.2M | $21.1M | 20x |
| Short | Bybit OPENAIUSDT | 1,673 | 0 | get 0.0000% / 8h | 2h 23m | $757K | $224K | 25x |
Binance OPENAIUSDT
Bybit OPENAIUSDTFunding 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
- −$10.5
- Price spread: +2.956% → +3.073%
- −$11.68
- Slippage, 4 orders
- −$173.9
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$217.08
- Costs to cover
- 1.949%
- Break-even
- never at this rate
Slippage from Binance: live order book, 3 min ago; Bybit: live order book, 61 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, 3 min ago | 0.95 bp | 36.8 bp −$37 | 107.4 bp −$1,074 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 61 min ago | 8.35 bp | 66.5 bp −$66 | 921.2 bp −$9,212 | doesn't fit | doesn't fit |
OPENAI on 22 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit OPENAI_USDC-PERPETUAL | −0.2285% | 1h | 1,626.2 | +0.079% | — | $3 | 5x | as long as short |
| Lighter OPENAI | 0.0000% | 1h | 1,704.6 | +4.900% | $1.4M | $314K | 5x | as long as short |
| Bybit OPENAIUSDTshort | 0.0000% | 8h | 1,673 | +2.956% | $757K | $224K | 25x | |
| OKX OPENAI-USDT-SWAP | 0.0000% | 8h | 1,660.4 | +2.182% | $5.1M | $1.4M | 20x | as long as short |
| QFEX OPENAI-USD | 0.0000% | 1h | 1,626.2 | +0.079% | $1.2M | $359K | 10x | as long as short |
| Gate OPENAI_USDT | 0.0000% | 8h | 1,622.5 | −0.150% | $52.8M | $48.5M | 50x | as long as short |
| Bitget OPENAIUSDT | 0.0000% | 8h | 1,627.7 | +0.166% | $5.5M | $5.0M | 20x | as long as short |
| SunX OPENAI-USDT | 0.0000% | 8h | 1,628.3 | +0.206% | — | $2.6M | 10x | as long as short |
| HTX OPENAI-USDT | 0.0000% | 8h | 1,632.2 | +0.444% | $79K | $211K | 20x | as long as short |
| Phemex OPENAIUSDT | 0.0000% | 8h | 1,624 | −0.058% | $1.6M | $582K | 10x | as long as short |
Deribit OPENAI_USDC-PERPETUAL
Lighter OPENAI
OKX OPENAI-USDT-SWAP
QFEX OPENAI-USD
Gate OPENAI_USDT
Bitget OPENAIUSDT
SunX OPENAI-USDT
HTX OPENAI-USDT
Phemex OPENAIUSDTShow all 22 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter RH OPENAI | +0.0032% | 1h | 1,667.9 | +2.643% | $2.6M | $6.2M | 5x | as long as short |
| Extended OPENAI-USD | +0.0048% | 1h | 1,625.3 | +0.022% | $133K | $656K | 10x | as long as short |
| Aster OPENAIUSDT | +0.0050% | 8h | 1,632.6 | +0.471% | $213K | $3K | 20x | as long as short |
| Binance OPENAIUSDTlong | +0.0050% | 8h | 1,624.9 | long leg | $23.2M | $21.1M | 20x | |
| MEXC OPENAI_USDT | +0.0050% | 8h | 1,626.3 | +0.085% | $12.9M | $3.1M | 50x | as long as short |
| KuCoin OPENAIUSDTM | +0.0050% | 8h | 1,640.2 | +0.941% | $375K | $65K | 20x | as long as short |
| Variational Omni OPENAI | +0.0050% | 8h | 1,636.3 | +0.697% | $2.7M | $659K | — | as long as short |
| GRVT OPENAI_USDT_Perp | +0.0050% | 8h | 1,637.2 | +0.753% | $2K | $154K | 10x | as long as short |
| BloFin OPENAI-USDT | +0.0067% | 8h | 1,626.3 | +0.082% | $472K | $292K | 20x | as long as short |
| Aevo OPENAI-PERP | +0.0104% | 1h | 1,625.1 | +0.009% | — | — | 10x | as long as short |
| Entropy io:OAI | +0.0110% | 1h | 1,669.4 | +2.736% | $7.3M | $2.2M | 6x | as long as short |
| Coinbase International OPENAI-PERP-INTX | +0.1080% | 1h | 1,633.9 | +0.552% | $237K | $107K | 5x | as long as short |
Lighter RH OPENAI
Extended OPENAI-USD
Aster OPENAIUSDT
MEXC OPENAI_USDT
KuCoin OPENAIUSDTM
Variational Omni OPENAI
GRVT OPENAI_USDT_Perp
BloFin OPENAI-USDT
Aevo OPENAI-PERP
Entropy io:OAI
Coinbase International OPENAI-PERP-INTX