Funding you earn now, next payment 08:00 UTC+0.0260%/8h= +28.5% APRnext payment +$2.60 per $10,000 · paid last 24h +0.081%
Price spread now: Binance against Gate−0.047%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.105%+$11 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Funding pays, the price is against you. Binance is 0.047% cheaper against Gate than usual: you would sell low and buy high (spread −0.047% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 14 hours of funding at the current rate (+$8 a day). At the pace of the last 7 days (+0.105% 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 0.105% in total (about 5.5% a year). A funding rate is set anew for every payment; at this rate the next one is about +$2.60 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 | Gate PANW_USDT | 371.97 | 0 | get 0.0000% / 8h | 5h 13m | $67K | $5K | 20x |
| Short | Binance PANWUSDT | 371.80 | 0.0260 | get 0.0260% / 8h | 5h 13m | $518K | $765K | 25x |
Gate PANW_USDT
Binance PANWUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Gate. 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
- $54.67
- Price spread: −0.047% → 0.000%
- −$4.69
- Slippage, 4 orders
- no order book: not counted
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- $24.98
- Costs to cover
- 0.250%
- Break-even
- 3.8 days
Slippage unknown: Gate: no order-book sample; Binance: live order book, 64 min ago. Net counts fees only.
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 Gate no order-book sample | — | — | — | — | — |
| Sell Binance live order book, 64 min ago | 1.88 bp | 16.3 bp −$16 | 81.8 bp −$818 | doesn't fit | doesn't fit |
Gate: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | 371.53 | −0.118% | $315K | $323K | 25x | as long as short |
| QFEX PANW-USD | 0.0000% | 1h | 371.43 | −0.145% | $1.1M | $2.6M | 10x | as long as short |
| Gate PANW_USDTlong | 0.0000% | 8h | 371.97 | long leg | $67K | $5K | 20x | |
| Bitget PANWUSDT | 0.0000% | 8h | 371.81 | −0.043% | $174K | $378K | 20x | as long as short |
| SunX PANW-USDT | +0.0100% | 8h | 371.32 | −0.175% | $1K | $634K | 10x | as long as short |
| HTX PANW-USDT | +0.0100% | 8h | 370.94 | −0.277% | $619 | $39K | 10x | as long as short |
| Injective PANW/USDC PERP | +0.0220% | 1h | 375.45 | +0.936% | $6K | $38K | 12x | as long as short |
| Binance PANWUSDTshort | +0.0260% | 8h | 371.80 | −0.047% | $518K | $765K | 25x |
Bybit PANWUSDT
QFEX PANW-USD
Bitget PANWUSDT
SunX PANW-USDT
HTX PANW-USDT
Injective PANW/USDC PERP