Funding you earn now, next payment 00:00 UTC−0.0126%/8h= −13.8% APRnext payment −$1.26 per $10,000 · paid last 24h +0.005%
Price spread now: Binance against Bybit−0.065%7-day average −0.031% · you buy dearer than you sell
Net, funding: paid 7d − costs−$25as in the Funding arb table
Net, price: spread back to 7d avg − costs−$25as in the Price arb table
costs, in and out, $10k−$220.220% of the position
Funding, last 7 days−0.031%−$3 on $10k
+Price spread, last 7 days+0.019%+$2 · spread now −0.065%, 7d avg −0.031%
=Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Binance is 0.033% cheaper against Bybit than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.031%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit USDCUSDT | 1.0001 | 0 | get 0.0000% / 8h | 42m 52s | $9.5M | $349K | 50x |
| Short | Binance USDCUSDT | 0.9995 | −0.0126 | pay 0.0126% / 8h | 42m 52s | $4.3M | $3.6M | 50x |
Bybit USDCUSDT
Binance USDCUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Bybit. 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
- −$26.51
- Price spread: −0.065% → −0.031%
- −$3.35
- Slippage, 4 orders
- −$1.01
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$51.86
- Costs to cover
- 0.220%
- Break-even
- never at this rate
Slippage from Bybit: live order book, 5 min ago; Binance: live order book, 9 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 Bybit live order book, 5 min ago | 0.50 bp | 6.0 bp −$6 | 6.9 bp −$69 | 422.1 bp −$42.2K | doesn't fit |
| Sell Binance live order book, 9 min ago | 0.00 bp | 5.0 bp −$5 | 5.0 bp −$50 | 5.0 bp −$500 | 5.0 bp −$2,502 |
USDC on 8 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 | |
|---|---|---|---|---|---|---|---|---|
| Binance USDCUSDTshort | −0.0126% | 8h | 0.9995 | −0.065% | $4.3M | $3.6M | 50x | |
| MEXC USDC_USDT | −0.0125% | 8h | 0.9994 | −0.065% | $16.6M | $266K | 200x | as long as short |
| Bitget USDCUSDT | −0.0115% | 8h | 0.9994 | −0.070% | $4.3M | $17K | 50x | as long as short |
| Kraken Futures PF_USDCUSD | −0.0067% | 1h | 0.9997 | −0.036% | $14K | $928 | 50x | as long as short |
| KuCoin USDCUSDTM | −0.0029% | 8h | 0.9994 | −0.070% | $2.5M | $19K | 30x | as long as short |
| Bybit USDCUSDTlong | 0.0000% | 8h | 1.0001 | long leg | $9.5M | $349K | 50x | |
| OKX USDC-USDT-SWAP | 0.0000% | 8h | 1.0000 | −0.012% | $1.1M | $45K | 50x | as long as short |
| Gate USDC_USDT | +0.0100% | 8h | 0.9995 | −0.060% | $253K | $19K | 50x | as long as short |
MEXC USDC_USDT
Bitget USDCUSDT
Kraken Futures PF_USDCUSD
KuCoin USDCUSDTM
OKX USDC-USDT-SWAP
Gate USDC_USDT