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Funding arb · Price arb /

COTI

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 08:00 UTC+0.0361%/8h= +39.5% APRpaid last 24h 0.000%
Price spread now: Bybit against Bitget−0.123%7-day average +0.095% · you buy dearer than you sell
Net, funding: paid 7d − costs−$177as in the Funding arb table
Net, price: spread back to 7d avg − costs−$224as in the Price arb table
costs, in and out, $10k−$2022.022% of the position
Long on BitgetShort on Bybit
What this pair did over the last
the charts below follow
Funding, last 7 days+0.250%+$25 on $10k
Price spread, last 7 days+0.431%+$43 · spread now −0.123%, 7d avg +0.095%
Together, before fees+0.680%+$68 on $10k · with fees, hour by hour
Funding pays, the price is against you. Bybit is 0.218% cheaper against Bitget than usual: you would sell low and buy high (spread −0.123% now, against its 7-day average of +0.095%). If the spread goes back, that is −$22 on $10k: about 2.0 days of funding at the current rate (+$11 a day). At the pace of the last 7 days (+0.250% in total) that is about 6.1 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.250% in total (about 13.0% 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.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBitget COTIUSDT0.01460−0.2008get 0.1004% / 4h3h 57m$3.3M$3.3M50x
ShortBybit COTIUSDT0.01458−0.1647pay 0.1647% / 8h3h 57m$3.7M$9.5M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bybit against Bitget. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

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latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
$75.8
Price spread: −0.123% → +0.095%
−$21.79
Slippage, 4 orders
−$179.16
Fee Bitget: 6 bp × 2 orders
−$12
Fee Bybit: 5.5 bp × 2 orders
−$11
Net
−$148.16
Costs to cover
2.022%
Break-even
20.7 days
Slippage from Bitget: live order book, 5 min ago; Bybit: live order book, 5 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 Bitget live order book, 5 min ago6.87 bp24.9 bp −$25131.7 bp −$1,317doesn't fitdoesn't fit
Sell Bybit live order book, 5 min ago2.41 bp72.4 bp −$72214.1 bp −$2,141doesn't fitdoesn't fit

COTI 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
Gate COTI_USDT−0.4568%4h0.01462+0.137%$429K$1.1M25xas long as short
Binance COTIUSDT−0.3872%4h0.01459−0.062%$7.9M$43.6M50xas long as short
MEXC COTI_USDT−0.3852%4h0.01458−0.130%$11.9M$2.2M50xas long as short
Aster COTIUSDT−0.3749%4h0.01458−0.126%$11K$335K5xas long as short
KuCoin COTIUSDTM−0.3438%4h0.01459−0.068%$1.7M$2.3M50xas long as short
BloFin COTI-USDT−0.2697%4h0.01452−0.521%$441K$639K50xas long as short
Bitget COTIUSDTlong−0.2008%4h0.01460long leg$3.3M$3.3M50x
Bybit COTIUSDTshort−0.1647%8h0.01458−0.123%$3.7M$9.5M50x
BingX COTI-USDT−0.1118%4h0.01458−0.137%—$1.6M—as long as short
Variational Omni COTI−0.0652%8h0.01457−0.182%$29K$39K—as long as short