Funding you earn now, next payment 00:00 UTC+0.0804%/8h= +88.0% APRnext payment +$8.04 per $10,000 · paid last 24h 0.000%
Price spread now: Binance against Bybit+0.019%7-day average +0.075% · you sell dearer than you buy
Net, funding: paid 7d − costs−$149as in the Funding arb table
Net, price: spread back to 7d avg − costs−$155as in the Price arb table
costs, in and out, $10k−$1491.491% of the position
Funding, last 7 days0.000%$0 on $10k
+Price spread, last 2 days (all we have)−0.024%−$2 · spread now +0.019%, 7d avg +0.075%
=Funding pays, the price is against you. Binance is 0.056% cheaper against Bybit than usual: you would sell low and buy high (spread +0.019% now, against its 7-day average of +0.075%). If the spread goes back, that is −$6 on $10k: about 6 hours of funding at the current rate (+$24 a day).
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 +$8.04 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 | Bybit PANWUSDT | 371.43 | 0 | get 0.0000% / 8h | 47m 27s | $314K | $329K | 25x |
| Short | Binance PANWUSDT | 371.50 | 0.0804 | get 0.0804% / 8h | 47m 27s | $514K | $805K | 25x |
Bybit PANWUSDT
Binance PANWUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Bybit. 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
- $168.77
- Price spread: +0.019% → +0.075%
- −$5.6
- Slippage, 4 orders
- −$128.08
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- $14.09
- Costs to cover
- 1.491%
- Break-even
- 6.4 days
Slippage from Bybit: live order book, 22 min ago; Binance: live order book, 75 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 Bybit live order book, 22 min ago | 7.28 bp | 63.0 bp −$63 | 177.9 bp −$1,779 | doesn't fit | doesn't fit |
| Sell Binance live order book, 75 min ago | 5.12 bp | 39.1 bp −$39 | 118.1 bp −$1,181 | 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 PANWUSDTlong | 0.0000% | 8h | 371.43 | long leg | $314K | $329K | 25x | |
| QFEX PANW-USD | 0.0000% | 1h | 371.23 | −0.054% | $1.1M | $2.6M | 10x | as long as short |
| Gate PANW_USDT | 0.0000% | 8h | 371.48 | +0.013% | $67K | $778 | 20x | as long as short |
| Bitget PANWUSDT | 0.0000% | 8h | 371.52 | +0.024% | $177K | $384K | 20x | as long as short |
| SunX PANW-USDT | +0.0100% | 8h | 371.35 | −0.022% | $984 | $708K | 10x | as long as short |
| HTX PANW-USDT | +0.0100% | 8h | 370.87 | −0.151% | $668 | $38K | 10x | as long as short |
| Injective PANW/USDC PERP | +0.0220% | 1h | 375.43 | +1.077% | $9K | $37K | 12x | as long as short |
| Binance PANWUSDTshort | +0.0804% | 8h | 371.50 | +0.019% | $514K | $805K | 25x |
QFEX PANW-USD
Gate PANW_USDT
Bitget PANWUSDT
SunX PANW-USDT
HTX PANW-USDT
Injective PANW/USDC PERP