Funding you earn now, next payment 12:00 UTC+0.0050%/8h= +5.4% APRnext payment +$0.25 per $10,000 · paid last 24h −0.004%
Price spread now: Binance against BloFin−0.071%7-day average −0.008% · you buy dearer than you sell
Net, funding: paid 7d − costs−$154as in the Funding arb table
Net, price: spread back to 7d avg − costs−$160as in the Price arb table
costs, in and out, $10k−$1531.534% of the position
Funding, last 7 days−0.006%−$1 on $10k
+Price spread, last 4 days (all we have)+0.025%+$3 · spread now −0.071%, 7d avg −0.008%
=Funding pays, the price is against you. Binance is 0.064% cheaper against BloFin than usual: you would sell low and buy high (spread −0.071% now, against its 7-day average of −0.008%). If the spread goes back, that is −$6 on $10k: about 4.3 days of funding at the current rate (+$1 a day).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | BloFin INIT-USDT | 0.08396 | 0.0050 | pay 0.0025% / 4h | 3h 52m | $153K | $40K | 25x |
| Short | Binance INITUSDT | 0.08390 | 0.0100 | get 0.0050% / 4h | 3h 52m | $3.5M | $2.5M | 25x |
BloFin INIT-USDT
Binance INITUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against BloFin. 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
- $10.4
- Price spread: −0.071% → −0.008%
- −$6.39
- Slippage, 4 orders
- −$131.43
- Fee BloFin: 6 bp × 2 orders
- −$12
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$149.42
- Costs to cover
- 1.534%
- Break-even
- 107.6 days
Slippage from BloFin: live order book, 12 min ago; Binance: live order book, 13 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 BloFin live order book, 12 min ago | 2.98 bp | 33.3 bp −$33 | 75.7 bp −$757 | doesn't fit | doesn't fit |
| Sell Binance live order book, 13 min ago | 4.77 bp | 41.5 bp −$41 | 128.5 bp −$1,285 | doesn't fit | doesn't fit |
INIT on 13 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_INITUSD | −0.0127% | 1h | 0.08385 | −0.133% | $5K | $13K | 10x | as long as short |
| BloFin INIT-USDTlong | +0.0050% | 4h | 0.08396 | long leg | $153K | $40K | 25x | |
| Hyperliquid INIT | +0.0100% | 1h | 0.08391 | −0.061% | $312K | $137K | 3x | as long as short |
| Aster INITUSDT | +0.0100% | 4h | 0.08387 | −0.105% | $28K | $7K | 5x | as long as short |
| Binance INITUSDTshort | +0.0100% | 4h | 0.08390 | −0.071% | $3.5M | $2.5M | 25x | |
| Bybit INITUSDT | +0.0100% | 4h | 0.08387 | −0.107% | $1.4M | $1.1M | 25x | as long as short |
| OKX INIT-USDT-SWAP | +0.0100% | 4h | 0.08392 | −0.048% | $141K | $434K | 10x | as long as short |
| Gate INIT_USDT | +0.0100% | 8h | 0.08378 | −0.214% | $82K | $15K | 25x | as long as short |
| MEXC INIT_USDT | +0.0100% | 4h | 0.08392 | −0.048% | $445K | $139K | 20x | as long as short |
| KuCoin INITUSDTM | +0.0100% | 4h | 0.08408 | +0.143% | $327K | $37K | 25x | as long as short |
Kraken Futures PF_INITUSD
Hyperliquid INIT
Aster INITUSDT
Bybit INITUSDT
OKX INIT-USDT-SWAP
Gate INIT_USDT
MEXC INIT_USDT
KuCoin INITUSDTMShow all 13 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget INITUSDT | +0.0100% | 4h | 0.08390 | −0.071% | $437K | $200K | 25x | as long as short |
| BingX INIT-USDT | +0.0100% | 4h | 0.08394 | −0.024% | — | $6.6M | — | as long as short |
| Variational Omni INIT | +0.0100% | 4h | 0.08396 | −0.005% | $27K | $10K | — | as long as short |
Bitget INITUSDT
BingX INIT-USDT
Variational Omni INIT