STEEM

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.1933%/8h= +211.7% APRnext payment +$9.67 per $10,000 · paid last 24h +0.503%

Price spread now: Bybit against Bitget−0.340%7-day average +0.017% · you buy dearer than you sell

Net, funding: paid 7d − costs−$213as in the Funding arb table

Net, price: spread back to 7d avg − costs−$312as in the Price arb table

costs, in and out, $10k−$2772.766% of the position

Long on Bitget Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.635%+$64 on $10k

Price spread, last 4 days (all we have)−0.033%−$3 · spread now −0.340%, 7d avg +0.017%

Together, before fees+0.602%+$60 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bybit is 0.357% cheaper against Bitget than usual: you would sell low and buy high (spread −0.340% now, against its 7-day average of +0.017%). If the spread goes back, that is −$36 on $10k: about 15 hours of funding at the current rate (+$58 a day). At the pace of the last 7 days (+0.635% in total) that is about 3.9 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.635% in total (about 33.1% a year). A funding rate is set anew for every payment; at this rate the next one is about +$9.67 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	Bitget STEEMUSDT	0.05889	0.0100	pay 0.0050% / 4h	3h 14m	$487K	$298K	25x
Short	Bybit STEEMUSDT	0.05869	0.2033	get 0.1017% / 4h	3h 14m	$1.3M	$906K	13x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Bitget. 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 BitgetbpFee BybitbpOrdersPrice spread, now −0.340%Rate

Funding earned: $405.94
Price spread: −0.340% → +0.017%: −$35.66
Slippage, 4 orders: −$253.56
Fee Bitget: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $93.72
Costs to cover: 2.766%
Break-even: 5.4 days

Slippage from Bitget: live order book, 11 min ago; Bybit: live order book, 1 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 Bitget live order book, 11 min ago	7.67 bp	26.4 bp −$26	119.9 bp −$1,199	doesn't fit	doesn't fit
Sell Bybit live order book, 1 min ago	4.25 bp	115.6 bp −$116	172.0 bp −$1,720	doesn't fit	doesn't fit

STEEM on 11 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 STEEM-USDT	+0.0070%	4h	0.05879	−0.170%	—	$1.6M	—	as long as short
Aster STEEMUSDT	+0.0100%	4h	0.05890	+0.009%	$17K	$11K	5x	as long as short
Binance STEEMUSDT	+0.0100%	4h	0.05884	−0.084%	$2.1M	$3.6M	25x	as long as short
MEXC STEEM_USDT	+0.0100%	4h	0.05886	−0.051%	$497K	$148K	20x	as long as short
KuCoin STEEMUSDTM	+0.0100%	4h	0.05892	+0.051%	$441K	$90K	30x	as long as short
Bitget STEEMUSDTlong	+0.0100%	4h	0.05889	long leg	$487K	$298K	25x
Variational Omni STEEM	+0.0100%	4h	0.05884	−0.091%	$12K	$267	—	as long as short
HTX STEEM-USDT	+0.0100%	4h	0.05880	−0.153%	$39K	$56K	20x	as long as short
Gate STEEM_USDT	+0.0754%	4h	0.05895	+0.102%	$290K	$100K	20x	as long as short
Bybit STEEMUSDTshort	+0.2033%	4h	0.05869	−0.340%	$1.3M	$906K	13x

Show all 11 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_STEEMUSD	+0.3864%	1h	0.05917	+0.470%	$9K	$6K	10x	as long as short