Funding you earn now, next payment 08:00 UTC+0.0982%/8h= +107.6% APRnext payment +$9.82 per $10,000 · paid last 24h +0.129%
Price spread now: Binance against Bybit+0.064%7-day average +0.093% · you sell dearer than you buy
Net, funding: paid 7d − costs−$176as in the Funding arb table
Net, price: spread back to 7d avg − costs−$208as in the Price arb table
costs, in and out, $10k−$2052.051% of the position
Funding, last 7 days+0.290%+$29 on $10k
+Price spread, last 7 days−0.034%−$3 · spread now +0.064%, 7d avg +0.093%
=Funding pays, the price is against you. Binance is 0.029% cheaper against Bybit than usual: you would sell low and buy high (spread +0.064% now, against its 7-day average of +0.093%). If the spread goes back, that is −$3 on $10k: about 2 hours of funding at the current rate (+$29 a day). At the pace of the last 7 days (+0.290% in total) that is about 17 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.290% in total (about 15.1% a year). A funding rate is set anew for every payment; at this rate the next one is about +$9.82 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 PDDUSDT | 79.570 | 0 | get 0.0000% / 8h | 1h 06m | $264K | $2.0M | 25x |
| Short | Binance PDDUSDT | 79.621 | 0.0982 | get 0.0982% / 8h | 1h 06m | $1.4M | $1.0M | 20x |
Bybit PDDUSDT
Binance PDDUSDTFunding 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
- $206.27
- Price spread: +0.064% → +0.093%
- −$2.88
- Slippage, 4 orders
- −$184.11
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$1.71
- Costs to cover
- 2.051%
- Break-even
- 7.1 days
Slippage from Bybit: live order book, 5 min ago; Binance: live order book, 11 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, 5 min ago | 18.24 bp | 93.9 bp −$94 | 243.2 bp −$2,432 | doesn't fit | doesn't fit |
| Sell Binance live order book, 11 min ago | 0.63 bp | 23.9 bp −$24 | 79.2 bp −$792 | doesn't fit | doesn't fit |
PDD on 9 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 PDDUSDTlong | 0.0000% | 8h | 79.570 | long leg | $264K | $2.0M | 25x | |
| Gate PDD_USDT | 0.0000% | 8h | 79.580 | +0.013% | $499K | $40K | 20x | as long as short |
| Bitget PDDUSDT | 0.0000% | 8h | 79.620 | +0.063% | $1.3M | $205K | 20x | as long as short |
| Injective PDD/USDC PERP | +0.0033% | 1h | 79.270 | −0.377% | $11K | $8K | 12x | as long as short |
| Extended PDD_24_5-USD | +0.0040% | 1h | 79.585 | +0.019% | $3K | — | 5x | as long as short |
| KuCoin PDDUSDTM | +0.0100% | 8h | 79.630 | +0.075% | $31K | $2.7M | 20x | as long as short |
| HTX PDD-USDT | +0.0100% | 8h | 79.420 | −0.189% | $7K | $301K | 20x | as long as short |
| edgeX PDDUSDC | +0.0573% | 4h | 79.605 | +0.045% | $161K | $223K | 10x | as long as short |
| Binance PDDUSDTshort | +0.0982% | 8h | 79.621 | +0.064% | $1.4M | $1.0M | 20x |
Gate PDD_USDT
Bitget PDDUSDT
Injective PDD/USDC PERP
Extended PDD_24_5-USD
KuCoin PDDUSDTM
HTX PDD-USDT
edgeX PDDUSDC