Funding you earn now, next payment 00:00 UTC+0.0108%/8h= +11.9% APRnext payment +$0.54 per $10,000 · paid last 24h +0.098%
Price spread now: Bybit against Orderly−0.255%50s7-day average −0.053% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.733%+$73 on $10k
+Price spread, last 3 days (all we have)+0.514%+$51 · spread now −0.255%, 7d avg −0.053%
=Funding pays, the price is against you. Bybit is 0.202% cheaper against Orderly than usual: you would sell low and buy high (spread −0.255% now, against its 7-day average of −0.053%). If the spread goes back, that is −$20 on $10k: about 6.2 days of funding at the current rate (+$3 a day). At the pace of the last 7 days (+0.733% in total) that is about 46 hours. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Orderly PERP_S_USDC | 0.03927 | −0.0008 | get 0.0004% / 4h | 2h 09m | $100K | $345K | 10x |
| Short | Bybit SUSDT | 0.03917 | 0.0100 | get 0.0050% / 4h | 2h 09m | $5.6M | $6.3M | 50x |
Orderly PERP_S_USDC
Bybit SUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Orderly. 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
- $22.76
- Price spread: −0.255% → −0.053%
- −$20.15
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$14.39
- Costs to cover
- 0.170%
- Break-even
- 11.4 days
Slippage unknown: Orderly: no order-book sample; Bybit: live order book, 8 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 Bybit live order book, 8 min ago | 3.82 bp | 35.7 bp −$36 | 88.0 bp −$880 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_SUSD | −0.1453% | 1h | 0.03927 | 0.000% | $33K | $30K | 10x | as long as short |
| Coinbase International S-PERP-INTX | −0.1264% | 1h | 0.03826 | −2.572% | $47K | $5K | 25x | as long as short |
| Variational Omni S | −0.0889% | 4h | 0.03922 | −0.129% | $610K | $34K | — | as long as short |
| GMX S/USD [WBTC.b-USDC] | L −0.0191% / S +0.0185% | 1h | 0.03930 | +0.069% | $1K | — | 100x | as long as short |
| Reya SRUSDPERP | −0.0101% | 1h | 0.03920 | −0.166% | $4 | — | 15x | as long as short |
| Orderly PERP_S_USDClong | −0.0008% | 4h | 0.03927 | long leg | $100K | $345K | 10x | |
| gTrade (Gains Network) S/USD | L +0.0001% / S +0.0006% | 1h | 0.03930 | +0.065% | $606 | — | 150x | as long as short |
| Aster SUSDT | +0.0026% | 4h | 0.03923 | −0.107% | $43K | $212K | 10x | as long as short |
| Injective S/USDC PERP | +0.0033% | 1h | 0.04100 | +4.405% | $2K | $37K | 12x | as long as short |
| 01 Exchange SUSD | +0.0040% | 1h | 0.03920 | −0.178% | $24K | $3K | 5x | as long as short |
Kraken Futures PF_SUSD
Coinbase International S-PERP-INTX
Variational Omni S
GMX S/USD [WBTC.b-USDC]
Reya SRUSDPERP
gTrade (Gains Network) S/USD
Aster SUSDT
Injective S/USDC PERP
01 Exchange SUSDShow all 25 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter S | +0.0096% | 1h | 0.03925 | −0.051% | $164K | $240K | 5x | as long as short |
| Hyperliquid S | +0.0100% | 1h | 0.03920 | −0.168% | $991K | $870K | 5x | as long as short |
| Binance SUSDT | +0.0100% | 4h | 0.03920 | −0.178% | $5.3M | $23.2M | 75x | as long as short |
| Bybit SUSDTshort | +0.0100% | 4h | 0.03917 | −0.255% | $5.6M | $6.3M | 50x | |
| OKX S-USDT-SWAP | +0.0100% | 4h | 0.03921 | −0.153% | $978K | $7.3M | 20x | as long as short |
| Gate S_USDT | +0.0100% | 4h | 0.03918 | −0.229% | $320K | $293K | 50x | as long as short |
| MEXC S_USDT | +0.0100% | 4h | 0.03921 | −0.153% | $3.5M | $2.6M | 200x | as long as short |
| KuCoin SUSDTM | +0.0100% | 4h | 0.03917 | −0.255% | $1.8M | $3.1M | 50x | as long as short |
| Bitget SUSDT | +0.0100% | 4h | 0.03922 | −0.127% | $1.2M | $2.9M | 50x | as long as short |
| BingX S-USDT | +0.0100% | 4h | 0.03921 | −0.153% | — | $6.8M | — | as long as short |
| ApeX Omni SUSDT | +0.0100% | 1h | 0.03930 | +0.076% | $25K | $471K | 50x | as long as short |
| Extended S-USD | +0.0104% | 1h | 0.03920 | −0.174% | $221K | $883K | 10x | as long as short |
| Deribit S_USDC-PERPETUAL | +0.0259% | 1h | 0.03932 | +0.127% | $66K | $10K | 10x | as long as short |
| BloFin S-USDT | +0.0340% | 4h | 0.03930 | +0.076% | $268K | $159K | 75x | as long as short |
| Backpack S_USDC_PERP | +0.0507% | 1h | 0.03940 | +0.331% | $115K | $295K | 5x | as long as short |
Lighter S
Hyperliquid S
Binance SUSDT
OKX S-USDT-SWAP
Gate S_USDT
MEXC S_USDT
KuCoin SUSDTM
Bitget SUSDT
BingX S-USDT
ApeX Omni SUSDT
Extended S-USD
Deribit S_USDC-PERPETUAL
BloFin S-USDT
Backpack S_USDC_PERP