Funding you earn now, next payment 08:00 UTC−0.0817%/8h= −89.5% APRnext payment −$8.17 per $10,000 · paid last 24h 0.000%
Price spread now: Bybit against Binance−0.093%7-day average −0.075% · you buy dearer than you sell
Net, funding: paid 7d − costs−$88as in the Funding arb table
Net, price: spread back to 7d avg − costs−$90as in the Price arb table
costs, in and out, $10k−$880.881% of the position
Funding, last 7 days0.000%$0 on $10k
+Price spread, last 2 days (all we have)+0.098%+$10 · spread now −0.093%, 7d avg −0.075%
=The price spread sits at its 7-day average of −0.075%, so right now this pair is about funding alone: −$25 a day on $10k at the current rate.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.000% in total (about 0.0% a year). A funding rate is set anew for every payment; at this rate the next one is about −$8.17 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 PANWUSDT | 371.84 | 0.0817 | pay 0.0817% / 8h | 7h 59m | $515K | $806K | 25x |
| Short | Bybit PANWUSDT | 371.49 | 0 | get 0.0000% / 8h | 7h 59m | $312K | $334K | 25x |
Binance PANWUSDT
Bybit PANWUSDTFunding 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
- −$171.6
- Price spread: −0.093% → −0.075%
- −$1.82
- Slippage, 4 orders
- −$67.14
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$261.56
- Costs to cover
- 0.881%
- Break-even
- never at this rate
Slippage from Binance: live order book, 48 min ago; Bybit: live order book, 5 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, 48 min ago | 2.96 bp | 18.9 bp −$19 | 72.0 bp −$720 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 5 min ago | 7.00 bp | 18.2 bp −$18 | 162.6 bp −$1,626 | doesn't fit | doesn't fit |
PANW on 8 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 | |
|---|---|---|---|---|---|---|---|---|
| Bybit PANWUSDTshort | 0.0000% | 8h | 371.49 | −0.093% | $312K | $334K | 25x | |
| QFEX PANW-USD | 0.0000% | 1h | 368.64 | −0.860% | $1.1M | $2.8M | 10x | as long as short |
| Gate PANW_USDT | 0.0000% | 8h | 371.82 | −0.004% | $67K | $5K | 20x | as long as short |
| Bitget PANWUSDT | 0.0000% | 8h | 371.67 | −0.045% | $177K | $373K | 20x | as long as short |
| SunX PANW-USDT | +0.0100% | 8h | 371.32 | −0.139% | $828 | $709K | 10x | as long as short |
| HTX PANW-USDT | +0.0100% | 8h | 370.61 | −0.330% | $700 | $39K | 10x | as long as short |
| Injective PANW/USDC PERP | +0.0220% | 1h | 375.22 | +0.910% | $9K | $37K | 12x | as long as short |
| Binance PANWUSDTlong | +0.0817% | 8h | 371.84 | long leg | $515K | $806K | 25x |
QFEX PANW-USD
Gate PANW_USDT
Bitget PANWUSDT
SunX PANW-USDT
HTX PANW-USDT
Injective PANW/USDC PERP