Funding you earn now, next payment 05:00 UTC−0.0300%/8h= −32.8% APRpaid last 24h −0.038%
Price spread now: Binance against Coinbase International−0.518%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 5 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and Binance is 0.518% cheaper against Coinbase International than usual: you would sell low and buy high (−$52 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International W-PERP-INTX | 0.01178 | 0.0400 | pay 0.0050% / 1h | 35m 11s | $14K | $13K | 50x |
| Short | Binance WUSDT | 0.01171 | 0.0100 | get 0.0050% / 4h | 2h 35m | $2.9M | $5.3M | 50x |
Coinbase International W-PERP-INTX
Binance WUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Coinbase International. 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
- −$63
- Price spread: −0.518% → 0.000%
- −$51.8
- Slippage, 4 orders
- no order book: not counted
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$134.8
- Costs to cover
- 0.200%
- Break-even
- never at this rate
Slippage unknown: Coinbase International: no order-book sample; Binance: live order book, 2 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 Coinbase International no order-book sample | — | — | — | — | — |
| Sell Binance live order book, 2 min ago | 3.42 bp | 26.7 bp −$27 | 89.6 bp −$896 | doesn't fit | doesn't fit |
Coinbase International: 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.
W on 17 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit W_USDC-PERPETUAL | 0.0000% | 1h | 0.01172 | −0.476% | $14K | $3K | 10x | as long as short |
| Injective W/USDC PERP | +0.0033% | 1h | 0.01209 | +2.675% | $1K | $1K | 12x | as long as short |
| Hyperliquid W | +0.0100% | 1h | 0.01172 | −0.467% | $2.0M | $281K | 5x | as long as short |
| Binance WUSDTshort | +0.0100% | 4h | 0.01171 | −0.518% | $2.9M | $5.3M | 50x | |
| Bybit WUSDT | +0.0100% | 4h | 0.01170 | −0.671% | $4.1M | $1.6M | 50x | as long as short |
| OKX W-USDT-SWAP | +0.0100% | 4h | 0.01171 | −0.594% | $1.3M | $1.6M | 20x | as long as short |
| Gate W_USDT | +0.0100% | 4h | 0.01164 | −1.146% | $425K | $238K | 75x | as long as short |
| MEXC W_USDT | +0.0100% | 4h | 0.01171 | −0.552% | $12.3M | $1.4M | 50x | as long as short |
| KuCoin WUSDTM | +0.0100% | 4h | 0.01168 | −0.807% | $387K | $191K | 50x | as long as short |
| Bitget WUSDT | +0.0100% | 4h | 0.01170 | −0.637% | $1.3M | $539K | 50x | as long as short |
Deribit W_USDC-PERPETUAL
Injective W/USDC PERP
Hyperliquid W
Bybit WUSDT
OKX W-USDT-SWAP
Gate W_USDT
MEXC W_USDT
KuCoin WUSDTM
Bitget WUSDTShow all 17 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX W-USDT | +0.0100% | 4h | 0.01169 | −0.705% | — | $6.7M | — | as long as short |
| Backpack W_USDC_PERP | +0.0100% | 1h | 0.01172 | −0.433% | $44K | $42K | 15x | as long as short |
| Variational Omni W | +0.0100% | 4h | 0.01168 | −0.822% | $71K | $40K | — | as long as short |
| GRVT W_USDT_Perp | +0.0100% | 4h | 0.01169 | −0.692% | $123K | $375K | 10x | as long as short |
| Extended W-USD | +0.0104% | 1h | 0.01171 | −0.544% | $60K | $147K | 5x | as long as short |
| Coinbase International W-PERP-INTXlong | +0.0400% | 1h | 0.01178 | long leg | $14K | $13K | 50x | |
| Kraken Futures PF_WUSD | +0.1741% | 1h | 0.01174 | −0.323% | $145K | $185K | 20x | as long as short |
BingX W-USDT
Backpack W_USDC_PERP
Variational Omni W
GRVT W_USDT_Perp
Extended W-USD
Kraken Futures PF_WUSD