Funding you earn now, next payment 08:00 UTC−0.0341%/8h= −37.3% APRnext payment −$3.41 per $10,000 · paid last 24h −0.061%
Price spread now: Gate against Bybit+0.079%7-day average −0.044% · you sell dearer than you buy
Net, funding: paid 7d − costs−$694as in the Funding arb table
Net, price: spread back to 7d avg − costs−$671as in the Price arb table
costs, in and out, $10k−$6836.833% of the position
Funding, last 7 days−0.107%−$11 on $10k
+Price spread, last 4 days (all we have)−0.212%−$21 · spread now +0.079%, 7d avg −0.044%
=The price spread pays, funding is against you. Gate is 0.124% dearer against Bybit than usual: you sell high and buy low (spread +0.079% now, against its 7-day average of −0.044%): +$12 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 29 hours. At the pace of the last 7 days (−0.107% in total) that is about 8.1 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.107% in total (about -5.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$3.41 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 SNOWUSDT | 339.83 | 0.0341 | pay 0.0341% / 8h | 2h 14m | $715K | $290K | 25x |
| Short | Gate SNOW_USDT | 340.10 | 0 | get 0.0000% / 8h | 2h 14m | $101K | $233K | 20x |
Bybit SNOWUSDT
Gate SNOW_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Gate 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
- −$71.58
- Price spread: +0.079% → −0.044%
- $12.35
- Slippage, 4 orders
- −$657.27
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Net
- −$742.51
- Costs to cover
- 6.833%
- Break-even
- never at this rate
Slippage from Bybit: live order book, 5 min ago; Gate: live order book, 27 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 | 4.27 bp | 111.9 bp −$112 | 208.9 bp −$2,089 | doesn't fit | doesn't fit |
| Sell Gate live order book, 27 min ago | 18.07 bp | 299.8 bp −$300 | doesn't fit | doesn't fit | doesn't fit |
SNOW on 8 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective SNOW/USDC PERP | −0.0220% | 1h | 336.36 | −1.021% | $7K | $97 | 12x | as long as short |
| OKX SNOW-USDT-SWAP | 0.0000% | 8h | 339.63 | −0.059% | $329K | $163K | 20x | as long as short |
| Gate SNOW_USDTshort | 0.0000% | 8h | 340.10 | +0.079% | $101K | $233K | 20x | |
| Bitget SNOWUSDT | 0.0000% | 8h | 339.96 | +0.038% | $316K | $165K | 20x | as long as short |
| HTX SNOW-USDT | 0.0000% | 8h | 340.17 | +0.100% | $8K | $40K | 10x | as long as short |
| Variational Omni SNOW | +0.0265% | 8h | 340.11 | +0.084% | $59K | $63K | — | as long as short |
| Bybit SNOWUSDTlong | +0.0341% | 8h | 339.83 | long leg | $715K | $290K | 25x | |
| Binance SNOWUSDT | +0.0351% | 8h | 340.19 | +0.106% | $743K | $753K | 25x | as long as short |
Injective SNOW/USDC PERP
OKX SNOW-USDT-SWAP
Bitget SNOWUSDT
HTX SNOW-USDT
Variational Omni SNOW
Binance SNOWUSDT