Funding you earn now, next payment 08:00 UTC−0.0297%/8h= −32.5% APRnext payment −$2.97 per $10,000 · paid last 24h 0.000%
Price spread now: Bybit against Gate+0.050%7-day average +0.010% · you sell dearer than you buy
Net, funding: paid 7d − costs−$344as in the Funding arb table
Net, price: spread back to 7d avg − costs−$335as in the Price arb table
costs, in and out, $10k−$3393.385% of the position
Funding, last 7 days−0.054%−$5 on $10k
+Price spread, last 4 days (all we have)−0.006%−$1 · spread now +0.050%, 7d avg +0.010%
=The price spread pays, funding is against you. Bybit is 0.040% dearer against Gate than usual: you sell high and buy low (spread +0.050% now, against its 7-day average of +0.010%): +$4 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 11 hours. At the pace of the last 7 days (−0.054% in total) that is about 5.1 days.
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 −$2.97 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 | 79.970 | 0.0297 | pay 0.0297% / 8h | 4h 02m | $488K | $37K | 20x |
| Short | Bybit PDDUSDT | 80.010 | 0 | get 0.0000% / 8h | 4h 02m | $257K | $2.0M | 25x |
Gate PDD_USDT
Bybit PDDUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit 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
- −$62.37
- Price spread: +0.050% → +0.010%
- $3.96
- Slippage, 4 orders
- −$312.53
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$396.94
- Costs to cover
- 3.385%
- Break-even
- never at this rate
Slippage from Gate: live order book, 54 min ago; Bybit: live order book, 4 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, 54 min ago | 26.85 bp | 105.5 bp −$106 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bybit live order book, 4 min ago | 6.24 bp | 93.4 bp −$93 | 206.7 bp −$2,067 | 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 PDDUSDTshort | 0.0000% | 8h | 80.010 | +0.050% | $257K | $2.0M | 25x | |
| Bitget PDDUSDT | 0.0000% | 8h | 80.020 | +0.063% | $1.3M | $198K | 20x | as long as short |
| Injective PDD/USDC PERP | +0.0033% | 1h | 79.270 | −0.875% | $11K | $8K | 12x | as long as short |
| Extended PDD_24_5-USD | +0.0040% | 1h | 79.845 | −0.156% | $3K | — | 5x | as long as short |
| KuCoin PDDUSDTM | +0.0100% | 8h | 80.050 | +0.100% | $31K | $2.8M | 20x | as long as short |
| HTX PDD-USDT | +0.0100% | 8h | 79.630 | −0.425% | $7K | $305K | 20x | as long as short |
| edgeX PDDUSDC | +0.0218% | 4h | 80.213 | +0.304% | $162K | $224K | 10x | as long as short |
| Gate PDD_USDTlong | +0.0297% | 8h | 79.970 | long leg | $488K | $37K | 20x | |
| Binance PDDUSDT | +0.0487% | 8h | 80.230 | +0.325% | $1.4M | $978K | 20x | as long as short |
Bitget PDDUSDT
Injective PDD/USDC PERP
Extended PDD_24_5-USD
KuCoin PDDUSDTM
HTX PDD-USDT
edgeX PDDUSDC
Binance PDDUSDT