Funding you earn now, next payment 04:00 UTC+0.0256%/8h= +28.0% APRnext payment +$1.28 per $10,000 · paid last 24h +0.020%
Price spread now: Gate against Binance+0.064%7-day average +0.122% · you sell dearer than you buy
Net, funding: paid 7d − costs−$204as in the Funding arb table
Net, price: spread back to 7d avg − costs−$223as in the Price arb table
costs, in and out, $10k−$2172.174% of the position
Funding, last 7 days+0.136%+$14 on $10k
+Price spread, last 4 days (all we have)−0.224%−$22 · spread now +0.064%, 7d avg +0.122%
=Funding pays, the price is against you. Gate is 0.058% cheaper against Binance than usual: you would sell low and buy high (spread +0.064% now, against its 7-day average of +0.122%). If the spread goes back, that is −$6 on $10k: about 18 hours of funding at the current rate (+$8 a day). At the pace of the last 7 days (+0.136% in total) that is about 3.0 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.136% in total (about 7.1% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.28 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 | Binance SAPIENUSDT | 0.07856 | 0.0100 | pay 0.0050% / 4h | 1h 08m | $1.9M | $989K | 25x |
| Short | Gate SAPIEN_USDT | 0.07861 | 0.0356 | get 0.0178% / 4h | 1h 08m | $871K | $67K | 50x |
Binance SAPIENUSDT
Gate SAPIEN_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Gate against Binance. 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
- $53.76
- Price spread: +0.064% → +0.122%
- −$5.79
- Slippage, 4 orders
- −$192.41
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Net
- −$169.44
- Costs to cover
- 2.174%
- Break-even
- 29.1 days
Slippage from Binance: live order book, 10 min ago; Gate: live order book, 53 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 Binance live order book, 10 min ago | 3.18 bp | 32.0 bp −$32 | 384.0 bp −$3,840 | doesn't fit | doesn't fit |
| Sell Gate live order book, 53 min ago | 9.60 bp | 53.6 bp −$54 | doesn't fit | doesn't fit | doesn't fit |
SAPIEN 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 | |
|---|---|---|---|---|---|---|---|---|
| Aster SAPIENUSDT | +0.0100% | 4h | 0.07855 | −0.016% | $45K | $4K | 5x | as long as short |
| Binance SAPIENUSDTlong | +0.0100% | 4h | 0.07856 | long leg | $1.9M | $989K | 25x | |
| Bybit SAPIENUSDT | +0.0100% | 4h | 0.07872 | +0.204% | $507K | $106K | 20x | as long as short |
| OKX SAPIEN-USDT-SWAP | +0.0100% | 4h | 0.07864 | +0.102% | $166K | $77K | 10x | as long as short |
| MEXC SAPIEN_USDT | +0.0100% | 4h | 0.07857 | +0.013% | $9.3M | $104K | 50x | as long as short |
| KuCoin SAPIENUSDTM | +0.0100% | 4h | 0.07857 | +0.013% | $708K | $2.9M | 30x | as long as short |
| Bitget SAPIENUSDT | +0.0100% | 4h | 0.07853 | −0.038% | $602K | $259K | 25x | as long as short |
| BingX SAPIEN-USDT | +0.0100% | 4h | 0.07862 | +0.076% | — | $6.5M | — | as long as short |
| Variational Omni SAPIEN | +0.0100% | 4h | 0.07873 | +0.222% | $9K | $3K | — | as long as short |
| Extended SAPIEN-USD | +0.0104% | 1h | 0.07855 | −0.012% | $2K | $161K | 5x | as long as short |
Aster SAPIENUSDT
Bybit SAPIENUSDT
OKX SAPIEN-USDT-SWAP
MEXC SAPIEN_USDT
KuCoin SAPIENUSDTM
Bitget SAPIENUSDT
BingX SAPIEN-USDT
Variational Omni SAPIEN
Extended SAPIEN-USDShow all 12 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BloFin SAPIEN-USDT | +0.0160% | 4h | 0.07862 | +0.076% | $91K | $15K | 25x | as long as short |
| Gate SAPIEN_USDTshort | +0.0356% | 4h | 0.07861 | +0.064% | $871K | $67K | 50x |
BloFin SAPIEN-USDT