Funding you earn now, next payment 08:00 UTC+0.0017%/8h= +1.8% APRnext payment +$0.08 per $10,000 · paid last 24h +0.069%
Price spread now: Binance against Orderly−0.270%7-day average +0.007% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.613%+$61 on $10k
+Price spread, last 4 days (all we have)+0.409%+$41 · spread now −0.270%, 7d avg +0.007%
=Funding pays, the price is against you. Binance is 0.277% cheaper against Orderly than usual: you would sell low and buy high (spread −0.270% now, against its 7-day average of +0.007%). If the spread goes back, that is −$28 on $10k: about 56 days of funding at the current rate ($0 a day). At the pace of the last 7 days (+0.613% in total) that is about 3.2 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Orderly PERP_S_USDC | 0.04013 | 0.0083 | pay 0.0042% / 4h | 2h 34m | $100K | $500K | 10x |
| Short | Binance SUSDT | 0.04002 | 0.0100 | get 0.0050% / 4h | 2h 34m | $5.7M | $13.8M | 75x |
Orderly PERP_S_USDC
Binance SUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Orderly. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
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How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $3.49
- Price spread: −0.270% → +0.007%
- −$27.71
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$40.22
- Costs to cover
- 0.160%
- Break-even
- 87.6 days
Slippage unknown: Orderly: no order-book sample; Binance: live order book, 5 min ago. Net counts fees only.
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 Orderly no order-book sample | — | — | — | — | — |
| Sell Binance live order book, 5 min ago | 1.27 bp | 25.5 bp −$26 | 82.8 bp −$828 | doesn't fit | doesn't fit |
Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
S on 25 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 | |
|---|---|---|---|---|---|---|---|---|
| 01 Exchange SUSD | −0.8496% | 1h | 0.03840 | −4.311% | $24K | $2K | 5x | as long as short |
| Kraken Futures PF_SUSD | −0.1811% | 1h | 0.04015 | +0.046% | $35K | $16K | 10x | as long as short |
| Coinbase International S-PERP-INTX | −0.1232% | 1h | 0.03964 | −1.221% | $48K | $18K | 25x | as long as short |
| GMX S/USD [WBTC.b-USDC] | L −0.0206% / S +0.0198% | 1h | 0.04015 | +0.042% | $1K | — | 100x | as long as short |
| Variational Omni S | −0.0125% | 4h | 0.03973 | −1.000% | $617K | $30K | — | as long as short |
| Reya SRUSDPERP | −0.0101% | 1h | 0.04015 | +0.041% | $4 | — | 15x | as long as short |
| gTrade (Gains Network) S/USD | L +0.0001% / S +0.0006% | 1h | 0.04016 | +0.070% | $619 | — | 150x | as long as short |
| Injective S/USDC PERP | +0.0033% | 1h | 0.04100 | +2.168% | $2K | $37K | 12x | as long as short |
| Orderly PERP_S_USDClong | +0.0083% | 4h | 0.04013 | long leg | $100K | $500K | 10x | |
| Lighter S | +0.0096% | 1h | 0.04018 | +0.125% | $170K | $139K | 5x | as long as short |
01 Exchange SUSD
Kraken Futures PF_SUSD
Coinbase International S-PERP-INTX
GMX S/USD [WBTC.b-USDC]
Variational Omni S
Reya SRUSDPERP
gTrade (Gains Network) S/USD
Injective S/USDC PERP
Lighter SShow all 25 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid S | +0.0100% | 1h | 0.04008 | −0.125% | $1.0M | $594K | 5x | as long as short |
| Aster SUSDT | +0.0100% | 4h | 0.04004 | −0.231% | $47K | $142K | 10x | as long as short |
| Binance SUSDTshort | +0.0100% | 4h | 0.04002 | −0.270% | $5.7M | $13.8M | 75x | |
| Bybit SUSDT | +0.0100% | 4h | 0.03984 | −0.723% | $5.7M | $4.5M | 50x | as long as short |
| OKX S-USDT-SWAP | +0.0100% | 4h | 0.03985 | −0.698% | $991K | $3.8M | 20x | as long as short |
| Gate S_USDT | +0.0100% | 4h | 0.03997 | −0.399% | $325K | $185K | 50x | as long as short |
| MEXC S_USDT | +0.0100% | 4h | 0.04003 | −0.249% | $3.6M | $1.7M | 200x | as long as short |
| KuCoin SUSDTM | +0.0100% | 4h | 0.04003 | −0.249% | $1.8M | $2.7M | 50x | as long as short |
| Bitget SUSDT | +0.0100% | 4h | 0.04003 | −0.249% | $1.2M | $2.3M | 50x | as long as short |
| BingX S-USDT | +0.0100% | 4h | 0.03999 | −0.349% | — | $6.8M | — | as long as short |
| ApeX Omni SUSDT | +0.0100% | 1h | 0.03940 | −1.819% | $4K | $474K | 50x | as long as short |
| Extended S-USD | +0.0104% | 1h | 0.03998 | −0.369% | $225K | $596K | 10x | as long as short |
| BloFin S-USDT | +0.0340% | 4h | 0.04012 | −0.025% | $277K | $108K | 75x | as long as short |
| Deribit S_USDC-PERPETUAL | +0.1494% | 1h | 0.04020 | +0.174% | $68K | $10K | 10x | as long as short |
| Backpack S_USDC_PERP | +0.1912% | 1h | 0.04030 | +0.424% | $117K | $426K | 5x | as long as short |
Hyperliquid S
Aster SUSDT
Bybit SUSDT
OKX S-USDT-SWAP
Gate S_USDT
MEXC S_USDT
KuCoin SUSDTM
Bitget SUSDT
BingX S-USDT
ApeX Omni SUSDT
Extended S-USD
BloFin S-USDT
Deribit S_USDC-PERPETUAL
Backpack S_USDC_PERP