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Funding arb · Price arb /

SQQQ

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 16:00 UTC+0.0215%/8h= +23.5% APRnext payment +$2.15 per $10,000 · paid last 24h +0.079%
Price spread now: Binance against Bybit+0.087%7-day average +0.021% · you sell dearer than you buy
Net, funding: paid 7d − costs−$37as in the Funding arb table
Net, price: spread back to 7d avg − costs−$39as in the Price arb table
costs, in and out, $10k−$460.457% of the position
Long on BybitShort on Binance
What this pair did over the last
the charts below follow
Funding, last 7 days+0.088%+$9 on $10k
Price spread, last 4 days (all we have)−0.242%−$24 · spread now +0.087%, 7d avg +0.021%
Together, before fees−0.155%−$15 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Binance is 0.066% dearer against Bybit than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.021%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.088% in total (about 4.6% a year). A funding rate is set anew for every payment; at this rate the next one is about +$2.15 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBybit SQQQUSDT34.6200get 0.0000% / 8h6h 58m$785K$566K25x
ShortBinance SQQQUSDT34.6500.0215get 0.0215% / 8h6h 58m$7.2M$19.1M20x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Binance against Bybit. 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
$45.15
Price spread: +0.087% → +0.021%
$6.56
Slippage, 4 orders
−$24.66
Fee Bybit: 5.5 bp × 2 orders
−$11
Fee Binance: 5 bp × 2 orders
−$10
Net
$6.05
Costs to cover
0.457%
Break-even
6.1 days
Slippage from Bybit: live order book, 31 min ago; Binance: live order book, 12 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 Bybit live order book, 31 min ago2.86 bp17.1 bp −$17doesn't fitdoesn't fitdoesn't fit
Sell Binance live order book, 12 min ago1.44 bp6.4 bp −$620.6 bp −$206124.1 bp −$12.4Kdoesn't fit

SQQQ on 10 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
Bybit SQQQUSDTlong0.0000%8h34.620long leg$785K$566K25x
Gate SQQQ_USDT0.0000%8h34.630+0.029%$1.1M$1.4M20xas long as short
Bitget SQQQUSDT0.0000%8h34.650+0.087%$2.9M$1.2M20xas long as short
GRVT SQQQ_USDT_Perp0.0000%8h34.659+0.112%$4K$114K10xas long as short
HTX SQQQ-USDT0.0000%8h34.660+0.116%$8K$1K10xas long as short
KuCoin SQQQUSDTM+0.0100%8h34.640+0.058%$127K$921K10xas long as short
OKX SQQQ-USDT-SWAP+0.0107%8h34.640+0.058%$905K$2.2M20xas long as short
BloFin SQQQ-USDT+0.0211%8h34.650+0.087%$89K$8K20xas long as short
Binance SQQQUSDTshort+0.0215%8h34.650+0.087%$7.2M$19.1M20x
MEXC SQQQ_USDT+0.0218%8h34.6200.000%$1.9M$320K20xas long as short