Funding you earn now, next payment 08:00 UTC−0.1153%/8h= −126.3% APRnext payment −$11.53 per $10,000 · paid last 24h −0.026%
Price spread now: Bybit against Binance+0.023%7-day average −0.039% · you sell dearer than you buy
Net, funding: paid 7d − costs−$311as in the Funding arb table
Net, price: spread back to 7d avg − costs−$289as in the Price arb table
costs, in and out, $10k−$2962.955% of the position
Funding, last 7 days−0.151%−$15 on $10k
+Price spread, last 4 days (all we have)−0.200%−$20 · spread now +0.023%, 7d avg −0.039%
=The price spread pays, funding is against you. Bybit is 0.062% dearer against Binance than usual: you sell high and buy low (spread +0.023% now, against its 7-day average of −0.039%): +$6 on $10k if it goes back. Holding the pair costs −$35 a day in funding at the current rate, which eats that in about 4 hours. At the pace of the last 7 days (−0.151% in total) that is about 2.9 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.151% in total (about -7.9% a year). A funding rate is set anew for every payment; at this rate the next one is about −$11.53 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 | Binance TMFUSDT | 29.893 | 0.1153 | pay 0.1153% / 8h | 2h 21m | $1.2M | $507K | 25x |
| Short | Bybit TMFUSDT | 29.900 | 0 | get 0.0000% / 8h | 2h 21m | $163K | $54K | 25x |
Binance TMFUSDT
Bybit TMFUSDTFunding 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$242.22
- Price spread: +0.023% → −0.039%
- $6.23
- Slippage, 4 orders
- −$274.53
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$531.52
- Costs to cover
- 2.955%
- Break-even
- never at this rate
Slippage from Binance: live order book, 11 min ago; Bybit: live order book, 8 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 Binance live order book, 11 min ago | 5.02 bp | 33.7 bp −$34 | 139.2 bp −$1,392 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 8 min ago | 16.72 bp | 117.6 bp −$118 | doesn't fit | doesn't fit | doesn't fit |
TMF on 9 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 | |
|---|---|---|---|---|---|---|---|---|
| edgeX TMFUSDC | −0.0254% | 4h | 29.885 | −0.026% | $13K | $285K | 10x | as long as short |
| Bybit TMFUSDTshort | 0.0000% | 8h | 29.900 | +0.023% | $163K | $54K | 25x | |
| Gate TMF_USDT | 0.0000% | 8h | 29.840 | −0.178% | $51K | $7K | 20x | as long as short |
| Bitget TMFUSDT | 0.0000% | 8h | 29.903 | +0.033% | $160K | $86K | 20x | as long as short |
| HTX TMF-USDT | 0.0000% | 8h | 29.890 | −0.010% | $9K | $252K | 10x | as long as short |
| OKX TMF-USDT-SWAP | +0.0834% | 8h | 29.960 | +0.224% | $149K | $136K | 20x | as long as short |
| Variational Omni TMF | +0.1097% | 8h | 29.885 | −0.027% | $28K | $5K | — | as long as short |
| Binance TMFUSDTlong | +0.1153% | 8h | 29.893 | long leg | $1.2M | $507K | 25x | |
| MEXC TMF_USDT | +0.1159% | 8h | 29.860 | −0.111% | $634K | $91K | 20x | as long as short |
edgeX TMFUSDC
Gate TMF_USDT
Bitget TMFUSDT
HTX TMF-USDT
OKX TMF-USDT-SWAP
Variational Omni TMF
MEXC TMF_USDT