Funding you earn now, next payment 09:00 UTC+1.1361%/8h= +1244.0% APRpaid last 24h −0.047%
Price spread now: Bybit against Paragon−0.135%7-day average −0.109% · you buy dearer than you sell
Net, funding: paid 7d − costs−$876as in the Funding arb table
Net, price: spread back to 7d avg − costs−$850as in the Price arb table
costs, in and out, $10k−$8488.478% of the position
Funding, last 7 days−0.277%−$28 on $10k
+Price spread, last 4 days (all we have)+0.207%+$21 · spread now −0.135%, 7d avg −0.109%
=Funding pays, the price is against you. Bybit is 0.026% cheaper against Paragon than usual: you would sell low and buy high (spread −0.135% now, against its 7-day average of −0.109%). If the spread goes back, that is −$3 on $10k: about under an hour of funding at the current rate (+$341 a day). Mind the row above: over the last 7 days funding on this pair cost −0.277%, 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 -0.277% in total (about -14.5% a year). A funding rate is set anew for every payment. 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 | Paragon para:TER | 377.02 | −1.1610 | get 0.1451% / 1h | 38m 44s | $118K | $57K | 10x |
| Short | Bybit TERUSDT | 376.51 | −0.0250 | pay 0.0250% / 8h | 7h 38m | $252K | $128K | 25x |
Paragon para:TER
Bybit TERUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Paragon. 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
- $2,385.79
- Price spread: −0.135% → −0.109%
- −$2.61
- Slippage, 4 orders
- −$826.85
- Fee Paragon: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- $1,535.33
- Costs to cover
- 8.478%
- Break-even
- 2.5 days
Slippage from Paragon: live order book, 7 min ago; Bybit: live order book, 41 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 Paragon live order book, 7 min ago | 57.16 bp | 113.0 bp −$113 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bybit live order book, 41 min ago | 17.62 bp | 120.2 bp −$120 | 220.5 bp −$2,205 | doesn't fit | doesn't fit |
TER on 10 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 | |
|---|---|---|---|---|---|---|---|---|
| Paragon para:TERlong | −1.1610% | 1h | 377.02 | long leg | $118K | $57K | 10x | |
| Bybit TERUSDTshort | −0.0250% | 8h | 376.51 | −0.135% | $252K | $128K | 25x | |
| Bitget TERUSDT | −0.0186% | 8h | 376.56 | −0.122% | $239K | $156K | 20x | as long as short |
| Binance TERUSDT | 0.0000% | 8h | 376.52 | −0.133% | $519K | $1.0M | 25x | as long as short |
| OKX TER-USDT-SWAP | 0.0000% | 8h | 375.43 | −0.422% | $203K | $177K | 20x | as long as short |
| Gate TER_USDT | 0.0000% | 8h | 376.70 | −0.085% | $295K | $195K | 20x | as long as short |
| Variational Omni TER | 0.0000% | 8h | 376.15 | −0.231% | $48K | $52K | — | as long as short |
| Extended TER_24_5-USD | +0.0040% | 1h | 377.66 | +0.169% | $35K | $4K | 10x | as long as short |
| KuCoin TERUSDTM | +0.0100% | 8h | 376.19 | −0.220% | $227K | $134K | 20x | as long as short |
| HTX TER-USDT | +0.0100% | 8h | 377.21 | +0.050% | $3K | $39K | 10x | as long as short |
Bitget TERUSDT
Binance TERUSDT
OKX TER-USDT-SWAP
Gate TER_USDT
Variational Omni TER
Extended TER_24_5-USD
KuCoin TERUSDTM
HTX TER-USDT