Funding you earn now, next payment 08:00 UTC−0.0323%/8h= −35.4% APRnext payment −$3.23 per $10,000 · paid last 24h 0.000%
Price spread now: Bybit against Gate+0.115%7-day average +0.237% · you sell dearer than you buy
Net, funding: paid 7d − costs−$752as in the Funding arb table
Net, price: spread back to 7d avg − costs−$758as in the Price arb table
costs, in and out, $10k−$7467.459% of the position
Funding, last 7 days−0.058%−$6 on $10k
+Price spread, last 4 days (all we have)−0.317%−$32 · spread now +0.115%, 7d avg +0.237%
=Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Bybit is 0.122% cheaper against Gate than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of +0.237%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.058% in total (about -3.0% a year). A funding rate is set anew for every payment; at this rate the next one is about −$3.23 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 SPCH_USDT | 10.392 | 0.0323 | pay 0.0323% / 8h | 4h 01m | $237K | $496K | 20x |
| Short | Bybit SPCHUSDT | 10.404 | 0 | get 0.0000% / 8h | 4h 01m | $175K | $195K | 25x |
Gate SPCH_USDT
Bybit SPCHUSDTFunding 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
- −$67.83
- Price spread: +0.115% → +0.237%
- −$12.17
- Slippage, 4 orders
- −$719.94
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$825.94
- Costs to cover
- 7.459%
- Break-even
- never at this rate
Slippage from Gate: live order book, 54 min ago; Bybit: live order book, 39 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 | 23.54 bp | 246.0 bp −$246 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bybit live order book, 39 min ago | 6.24 bp | 172.2 bp −$172 | doesn't fit | doesn't fit | doesn't fit |
SPCH on 5 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 SPCHUSDTshort | 0.0000% | 8h | 10.404 | +0.115% | $175K | $195K | 25x | |
| Bitget SPCHUSDT | 0.0000% | 8h | 10.397 | +0.048% | $210K | $258K | 20x | as long as short |
| HTX SPCH-USDT | 0.0000% | 8h | 10.434 | +0.404% | $17K | $414K | 20x | as long as short |
| OKX SPCH-USDT-SWAP | +0.0160% | 8h | 10.423 | +0.298% | $97K | $285K | 10x | as long as short |
| Gate SPCH_USDTlong | +0.0323% | 8h | 10.392 | long leg | $237K | $496K | 20x |
Bitget SPCHUSDT
HTX SPCH-USDT
OKX SPCH-USDT-SWAP