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Funding arb · Price arb /

PDD

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 08:00 UTC−0.0100%/8h= −10.9% APRnext payment −$1.00 per $10,000 · paid last 24h −0.030%
Price spread now: Bybit against HTX+0.693%7-day average −0.081% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on HTXShort on Bybit
What this pair did over the last
the charts below follow
Funding, last 7 days−0.210%−$21 on $10k
Price spread, last 4 days (all we have)−0.857%−$86 · spread now +0.693%, 7d avg −0.081%
Together, before fees−1.067%−$107 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Bybit is 0.774% dearer against HTX than usual: you sell high and buy low (spread +0.693% now, against its 7-day average of −0.081%): +$77 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 26 days.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongHTX PDD-USDT79.4100.0100pay 0.0100% / 8h3h 58m$7K$305K20x
ShortBybit PDDUSDT79.9600get 0.0000% / 8h3h 58m$258K$2.0M25x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bybit against HTX. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

click an exchange to add or hide it
latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
−$21
Price spread: +0.693% → −0.081%
$77.37
Slippage, 4 orders
no order book: not counted
Fee HTX: 6 bp × 2 orders
−$12
Fee Bybit: 5.5 bp × 2 orders
−$11
Net
$33.37
Costs to cover
0.230%
Break-even
from the start
Slippage unknown: HTX: live order book, 59 min ago; Bybit: live order book, 3 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy HTX live order book, 59 min ago99.68 bpdoesn't fitdoesn't fitdoesn't fitdoesn't fit
Sell Bybit live order book, 3 min ago11.23 bp48.2 bp −$48193.4 bp −$1,934doesn't fitdoesn't fit

PDD on 9 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
edgeX PDDUSDC−0.0127%4h80.192+0.985%$162K$225K10xas long as short
Bybit PDDUSDTshort0.0000%8h79.960+0.693%$258K$2.0M25x
Bitget PDDUSDT0.0000%8h80.020+0.768%$1.3M$198K20xas long as short
Injective PDD/USDC PERP+0.0033%1h79.270−0.176%$11K$8K12xas long as short
Extended PDD_24_5-USD+0.0040%1h79.855+0.560%$3K—5xas long as short
KuCoin PDDUSDTM+0.0100%8h80.040+0.793%$31K$2.8M20xas long as short
HTX PDD-USDTlong+0.0100%8h79.410long leg$7K$305K20x
Gate PDD_USDT+0.0280%8h79.970+0.705%$488K$37K20xas long as short
Binance PDDUSDT+0.0522%8h80.185+0.976%$1.4M$977K20xas long as short