INIT

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0030%/8h= −3.3% APRnext payment −$0.15 per $10,000 · paid last 24h +0.003%

Price spread now: BloFin against Bybit+0.084%7-day average +0.153% · you sell dearer than you buy

Net, funding: paid 7d − costs−$149as in the Funding arb table

Net, price: spread back to 7d avg − costs−$161as in the Price arb table

costs, in and out, $10k−$1541.540% of the position

Long on Bybit Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.051%+$5 on $10k

Price spread, last 4 days (all we have)+0.119%+$12 · spread now +0.084%, 7d avg +0.153%

Together, before fees+0.169%+$17 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and BloFin is 0.069% cheaper against Bybit than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.153%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.051%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit INITUSDT	0.08383	0.0100	pay 0.0050% / 4h	39m 12s	$1.5M	$1.2M	25x
Short	BloFin INIT-USDT	0.08390	0.0070	get 0.0035% / 4h	39m 12s	$152K	$48K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Bybit. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

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

Profit calculator

Position, each leg$Hold fordaysFee BybitbpFee BloFinbpOrdersPrice spread, now +0.084%Rate

Funding earned: −$6.31
Price spread: +0.084% → +0.153%: −$6.95
Slippage, 4 orders: −$130.97
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$167.23
Costs to cover: 1.540%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; BloFin: live order book, 30 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 Bybit live order book, 2 min ago	5.95 bp	46.5 bp −$46	89.7 bp −$897	doesn't fit	doesn't fit
Sell BloFin live order book, 30 min ago	2.97 bp	34.9 bp −$35	74.0 bp −$740	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	−0.0244%	1h	0.08384	+0.009%	$5K	$17K	10x	as long as short
BloFin INIT-USDTshort	+0.0070%	4h	0.08390	+0.084%	$152K	$48K	25x
Hyperliquid INIT	+0.0100%	1h	0.08389	+0.074%	$312K	$142K	3x	as long as short
Aster INITUSDT	+0.0100%	4h	0.08392	+0.108%	$28K	$8K	5x	as long as short
Binance INITUSDT	+0.0100%	4h	0.08389	+0.072%	$3.4M	$2.9M	25x	as long as short
Bybit INITUSDTlong	+0.0100%	4h	0.08383	long leg	$1.5M	$1.2M	25x
OKX INIT-USDT-SWAP	+0.0100%	4h	0.08387	+0.048%	$141K	$525K	10x	as long as short
Gate INIT_USDT	+0.0100%	8h	0.08389	+0.072%	$82K	$21K	25x	as long as short
MEXC INIT_USDT	+0.0100%	4h	0.08389	+0.072%	$446K	$169K	20x	as long as short
KuCoin INITUSDTM	+0.0100%	4h	0.08395	+0.143%	$326K	$49K	25x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget INITUSDT	+0.0100%	4h	0.08383	0.000%	$433K	$257K	25x	as long as short
BingX INIT-USDT	+0.0100%	4h	0.08394	+0.131%	—	$6.6M	—	as long as short
Variational Omni INIT	+0.0100%	4h	0.08400	+0.207%	$27K	$11K	—	as long as short