Funding you earn now, next payment 08:00 UTC+0.0269%/8h= +29.4% APRnext payment +$2.69 per $10,000 · paid last 24h +0.081%
Price spread now: Binance against Bitget−0.014%7-day average +0.060% · you buy dearer than you sell
Net, funding: paid 7d − costs−$94as in the Funding arb table
Net, price: spread back to 7d avg − costs−$110as in the Price arb table
costs, in and out, $10k−$1031.025% of the position
Funding, last 7 days+0.081%+$8 on $10k
+Price spread, last 2 days (all we have)+0.055%+$6 · spread now −0.014%, 7d avg +0.060%
=Funding pays, the price is against you. Binance is 0.075% cheaper against Bitget than usual: you would sell low and buy high (spread −0.014% now, against its 7-day average of +0.060%). If the spread goes back, that is −$7 on $10k: about 22 hours of funding at the current rate (+$8 a day). At the pace of the last 7 days (+0.081% in total) that is about 6.4 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.081% in total (about 4.2% a year). A funding rate is set anew for every payment; at this rate the next one is about +$2.69 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 | Bitget PANWUSDT | 371.81 | 0 | get 0.0000% / 8h | 5h 15m | $174K | $378K | 20x |
| Short | Binance PANWUSDT | 371.76 | 0.0269 | get 0.0269% / 8h | 5h 15m | $518K | $765K | 25x |
Bitget PANWUSDT
Binance PANWUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Bitget. 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
- $56.39
- Price spread: −0.014% → +0.060%
- −$7.46
- Slippage, 4 orders
- −$80.54
- Fee Bitget: 6 bp × 2 orders
- −$12
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$53.61
- Costs to cover
- 1.025%
- Break-even
- 13.7 days
Slippage from Bitget: live order book, 40 min ago; Binance: live order book, 62 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 Bitget live order book, 40 min ago | 7.53 bp | 25.2 bp −$25 | 41.2 bp −$412 | doesn't fit | doesn't fit |
| Sell Binance live order book, 62 min ago | 1.88 bp | 16.3 bp −$16 | 81.8 bp −$818 | 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 PANWUSDT | 0.0000% | 8h | 371.48 | −0.089% | $315K | $323K | 25x | as long as short |
| QFEX PANW-USD | 0.0000% | 1h | 371.43 | −0.102% | $1.1M | $2.6M | 10x | as long as short |
| Gate PANW_USDT | 0.0000% | 8h | 371.88 | +0.019% | $67K | $5K | 20x | as long as short |
| Bitget PANWUSDTlong | 0.0000% | 8h | 371.81 | long leg | $174K | $378K | 20x | |
| SunX PANW-USDT | +0.0100% | 8h | 371.32 | −0.132% | $1K | $634K | 10x | as long as short |
| HTX PANW-USDT | +0.0100% | 8h | 371.31 | −0.134% | $672 | $39K | 10x | as long as short |
| Injective PANW/USDC PERP | +0.0220% | 1h | 375.45 | +0.979% | $6K | $38K | 12x | as long as short |
| Binance PANWUSDTshort | +0.0269% | 8h | 371.76 | −0.014% | $518K | $765K | 25x |
Bybit PANWUSDT
QFEX PANW-USD
Gate PANW_USDT
SunX PANW-USDT
HTX PANW-USDT
Injective PANW/USDC PERP