Funding you earn now, next payment 12:00 UTC−0.0604%/8h= −66.1% APRnext payment −$3.02 per $10,000 · paid last 24h −0.001%
Price spread now: Binance against Gate−0.176%7-day average −0.050% · you buy dearer than you sell
Net, funding: paid 7d − costs−$137as in the Funding arb table
Net, price: spread back to 7d avg − costs−$147as in the Price arb table
costs, in and out, $10k−$1341.341% of the position
Funding, last 7 days−0.031%−$3 on $10k
+Price spread, last 7 days+0.103%+$10 · spread now −0.176%, 7d avg −0.050%
=Both sides work against this trade now: funding costs −$18 a day on $10k at the current rate, and Binance is 0.126% cheaper against Gate than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of −0.050%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.031% in total (about -1.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$3.02 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 | Gate NIL_USDT | 0.07976 | 0.0704 | pay 0.0352% / 4h | 3h 13m | $491K | $1.5M | 50x |
| Short | Binance NILUSDT | 0.07962 | 0.0100 | get 0.0050% / 4h | 3h 13m | $6.2M | $48.1M | 50x |
Gate NIL_USDT
Binance NILUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Gate. 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
- −$126.84
- Price spread: −0.176% → −0.050%
- −$12.59
- Slippage, 4 orders
- −$109.13
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$273.56
- Costs to cover
- 1.341%
- Break-even
- never at this rate
Slippage from Gate: live order book, 3 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 Gate live order book, 3 min ago | 12.04 bp | 37.4 bp −$37 | doesn't fit | doesn't fit | doesn't fit |
| Sell Binance live order book, 13 min ago | 2.02 bp | 27.8 bp −$28 | 133.3 bp −$1,333 | doesn't fit | doesn't fit |
NIL on 12 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 | |
|---|---|---|---|---|---|---|---|---|
| BingX NIL-USDT | +0.0070% | 4h | 0.07982 | +0.075% | — | $8.1M | — | as long as short |
| Aster NILUSDT | +0.0100% | 4h | 0.07980 | +0.049% | $33K | $219K | 5x | as long as short |
| Binance NILUSDTshort | +0.0100% | 4h | 0.07962 | −0.176% | $6.2M | $48.1M | 50x | |
| Bybit NILUSDT | +0.0100% | 4h | 0.07963 | −0.163% | $4.4M | $10.0M | 20x | as long as short |
| MEXC NIL_USDT | +0.0100% | 4h | 0.07972 | −0.050% | $2.6M | $3.1M | 100x | as long as short |
| Bitget NILUSDT | +0.0100% | 4h | 0.07975 | −0.013% | $2.3M | $6.0M | 50x | as long as short |
| Variational Omni NIL | +0.0100% | 4h | 0.07917 | −0.742% | $191K | $251K | — | as long as short |
| Extended NIL-USD | +0.0104% | 1h | 0.07961 | −0.189% | $21K | $194K | 5x | as long as short |
| KuCoin NILUSDTM | +0.0138% | 4h | 0.07963 | −0.163% | $665K | $562K | 30x | as long as short |
| BloFin NIL-USDT | +0.0144% | 4h | 0.07982 | +0.075% | $379K | $84K | 50x | as long as short |
BingX NIL-USDT
Aster NILUSDT
Bybit NILUSDT
MEXC NIL_USDT
Bitget NILUSDT
Variational Omni NIL
Extended NIL-USD
KuCoin NILUSDTM
BloFin NIL-USDTShow all 12 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate NIL_USDTlong | +0.0704% | 4h | 0.07976 | long leg | $491K | $1.5M | 50x | |
| Hyperliquid NIL | +0.1847% | 1h | 0.07996 | +0.255% | $5.3M | $4.6M | 3x | as long as short |
Hyperliquid NIL