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Funding arb · Price arb /

SHAZ

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 16:00 UTC+0.1764%/8h= +193.2% APRnext payment +$17.64 per $10,000 · paid last 24h −0.003%
Price spread now: Bybit against Binance+0.162%7-day average −0.001% · you sell dearer than you buy
Net, funding: paid 7d − costs−$496as in the Funding arb table
Net, price: spread back to 7d avg − costs−$415as in the Price arb table
costs, in and out, $10k−$4324.317% of the position
Long on BinanceShort on Bybit
What this pair did over the last
the charts below follow
Funding, last 7 days−0.644%−$64 on $10k
Price spread, last 4 days (all we have)−0.211%−$21 · spread now +0.162%, 7d avg −0.001%
Together, before fees−0.854%−$85 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$53 a day on $10k at the current rate, and Bybit is 0.164% dearer against Binance than usual: you sell high and buy low: +$16 more if the spread goes back to its 7-day average of −0.001%. Mind the row above: over the last 7 days funding on this pair cost −0.644%, so the current rate has only just turned in your favour.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.644% in total (about -33.6% a year). A funding rate is set anew for every payment; at this rate the next one is about +$17.64 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBinance SHAZUSDT58.685−0.1169get 0.1169% / 8h6h 20m$469K$2.0M10x
ShortBybit SHAZUSDT58.7800.0595get 0.0595% / 8h6h 20m$152K$442K25x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bybit against Binance. 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
$370.49
Price spread: +0.162% → −0.001%
$16.39
Slippage, 4 orders
−$410.68
Fee Binance: 5 bp × 2 orders
−$10
Fee Bybit: 5.5 bp × 2 orders
−$11
Net
−$44.8
Costs to cover
4.317%
Break-even
7.8 days
Slippage from Binance: live order book, 7 min ago; Bybit: live order book, 27 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Binance live order book, 7 min ago1.70 bp44.1 bp −$44127.2 bp −$1,272doesn't fitdoesn't fit
Sell Bybit live order book, 27 min ago5.97 bp146.6 bp −$147294.9 bp −$2,949doesn't fitdoesn't fit

SHAZ on 11 exchanges

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Binance SHAZUSDTlong−0.1169%8h58.685long leg$469K$2.0M10x
Variational Omni SHAZ−0.1031%8h58.733+0.082%$23K$36K—as long as short
KuCoin SHAZUSDTM−0.0004%8h58.840+0.265%$71K$482K20xas long as short
OKX SHAZ-USDT-SWAP0.0000%8h58.750+0.111%$440K$258K10xas long as short
QFEX SHAZ-USD0.0000%1h58.490−0.332%$1.1M$1.8M10xas long as short
Gate SHAZ_USDT0.0000%8h58.620−0.110%$180K$40K20xas long as short
Bitget SHAZUSDT0.0000%8h58.670−0.025%$200K$154K20xas long as short
HTX SHAZ-USDT0.0000%8h58.866+0.309%$6K$39K10xas long as short
Bybit SHAZUSDTshort+0.0595%8h58.780+0.162%$152K$442K25x
edgeX SHAZUSDC+0.0682%4h58.709+0.042%$16K$291K10xas long as short
Show all 11 exchanges
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
tradeXYZ xyz:SHAZ+0.1526%1h58.580−0.178%$1.2M$295K10xas long as short