UVXY

Funding pays, the price is against you. Binance is 0.047% cheaper against Phemex than usual: you would sell low and buy high (spread +0.026% now, against its 7-day average of +0.073%). If the spread goes back, that is −$5 on $10k: about 6 hours of funding at the current rate (+$20 a day). Mind the row above: over the last 7 days funding on this pair cost −0.133%, so the current rate has only just turned in your favour. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.133% in total (about -6.9% a year). A funding rate is set anew for every payment; at this rate the next one is about +$6.79 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.