Funding you earn now, next payment 08:00 UTC−0.0304%/8h= −33.3% APRnext payment −$3.04 per $10,000 · paid last 24h 0.000%
Price spread now: Bitget against Gate+0.025%7-day average +0.061% · you sell dearer than you buy
Net, funding: paid 7d − costs−$251as in the Funding arb table
Net, price: spread back to 7d avg − costs−$249as in the Price arb table
costs, in and out, $10k−$2462.456% of the position
Funding, last 7 days−0.054%−$5 on $10k
+Price spread, last 4 days (all we have)+0.019%+$2 · spread now +0.025%, 7d avg +0.061%
=Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and Bitget is 0.036% cheaper against Gate than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.061%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.054% in total (about -2.8% a year). A funding rate is set anew for every payment; at this rate the next one is about −$3.04 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 | Gate PDD_USDT | 80.000 | 0.0304 | pay 0.0304% / 8h | 4h 03m | $488K | $37K | 20x |
| Short | Bitget PDDUSDT | 80.020 | 0 | get 0.0000% / 8h | 4h 03m | $1.3M | $198K | 20x |
Gate PDD_USDT
Bitget PDDUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bitget 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
- −$63.84
- Price spread: +0.025% → +0.061%
- −$3.63
- Slippage, 4 orders
- −$218.56
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Fee Bitget: 6 bp × 2 orders
- −$12
- Net
- −$313.02
- Costs to cover
- 2.456%
- Break-even
- never at this rate
Slippage from Gate: live order book, 53 min ago; Bitget: live order book, 3 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 Gate live order book, 53 min ago | 26.85 bp | 105.5 bp −$106 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bitget live order book, 3 min ago | 13.73 bp | 35.4 bp −$35 | 71.2 bp −$712 | 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 PDDUSDT | 0.0000% | 8h | 79.990 | −0.013% | $257K | $2.0M | 25x | as long as short |
| Bitget PDDUSDTshort | 0.0000% | 8h | 80.020 | +0.025% | $1.3M | $198K | 20x | |
| Injective PDD/USDC PERP | +0.0033% | 1h | 79.270 | −0.913% | $11K | $8K | 12x | as long as short |
| Extended PDD_24_5-USD | +0.0040% | 1h | 79.845 | −0.194% | $3K | — | 5x | as long as short |
| KuCoin PDDUSDTM | +0.0100% | 8h | 80.080 | +0.100% | $31K | $2.8M | 20x | as long as short |
| HTX PDD-USDT | +0.0100% | 8h | 79.880 | −0.150% | $7K | $304K | 20x | as long as short |
| edgeX PDDUSDC | +0.0218% | 4h | 80.213 | +0.266% | $162K | $224K | 10x | as long as short |
| Gate PDD_USDTlong | +0.0304% | 8h | 80.000 | long leg | $488K | $37K | 20x | |
| Binance PDDUSDT | +0.0481% | 8h | 80.199 | +0.249% | $1.4M | $978K | 20x | as long as short |
Bybit PDDUSDT
Injective PDD/USDC PERP
Extended PDD_24_5-USD
KuCoin PDDUSDTM
HTX PDD-USDT
edgeX PDDUSDC
Binance PDDUSDT