Funding you earn now, next payment 00:00 UTC−0.0054%/8h= −5.9% APRpaid last 24h −0.008%
Price spread now: Bybit against Derive−0.054%7-day average −0.030% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.108%−$11 on $10k
+Price spread, last 3 days (all we have)+0.020%+$2 · spread now −0.054%, 7d avg −0.030%
=Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Bybit is 0.024% cheaper against Derive than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.030%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Derive XAUT-PERP | 4,361.1 | 0.0100 | pay 0.0013% / 1h | 24m 52s | $1.9M | $209K | 10x |
| Short | Bybit XAUTUSDT | 4,358.7 | 0.0046 | get 0.0023% / 4h | 24m 52s | $120.8M | $27.3M | 75x |
Derive XAUT-PERP
Bybit XAUTUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Derive. 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
- −$11.31
- Price spread: −0.054% → −0.030%
- −$2.44
- Slippage, 4 orders
- no order book: not counted
- Fee Derive: 3 bp × 2 orders
- −$6
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$30.75
- Costs to cover
- 0.170%
- Break-even
- never at this rate
Slippage unknown: Derive: no order-book sample; Bybit: live order book, 4 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 Derive no order-book sample | — | — | — | — | — |
| Sell Bybit live order book, 4 min ago | 0.12 bp | 6.1 bp −$6 | 6.9 bp −$69 | 13.0 bp −$1,303 | doesn't fit |
Derive: 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.
XAUT on 20 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 | |
|---|---|---|---|---|---|---|---|---|
| Aftermath Perps XAUTUSD | −0.0150% | 1h | 4,359.1 | −0.046% | $56K | $32K | 20x | as long as short |
| Bitget XAUTUSDT | −0.0116% | 4h | 4,358.5 | −0.060% | $26.2M | $15.0M | 75x | as long as short |
| Injective XAUT/USDC PERP | −0.0055% | 1h | 4,349.8 | −0.259% | $8K | $149K | 30x | as long as short |
| Gate XAUT_USDT | 0.0000% | 8h | 4,360.6 | −0.011% | $131.7M | $8.0M | 100x | as long as short |
| MEXC XAUT_USDT | +0.0046% | 4h | 4,358.8 | −0.053% | $342.2M | $278.5M | 1000x | as long as short |
| Bybit XAUTUSDTshort | +0.0046% | 4h | 4,358.7 | −0.054% | $120.8M | $27.3M | 75x | |
| SoDEX XAUT-USD | +0.0050% | 1h | 4,360.4 | −0.016% | $10.2M | $2.0M | 25x | as long as short |
| Variational Omni XAUT | +0.0054% | 4h | 4,356.9 | −0.095% | $33.2M | $3.3M | — | as long as short |
| Nado XAUT-PERP | +0.0100% | 1h | 4,358.9 | −0.051% | $4.2M | $994K | 10x | as long as short |
| Binance XAUTUSDT | +0.0100% | 4h | 4,359.1 | −0.046% | $35.5M | $46.3M | 75x | as long as short |
Aftermath Perps XAUTUSD
Bitget XAUTUSDT
Injective XAUT/USDC PERP
Gate XAUT_USDT
MEXC XAUT_USDT
SoDEX XAUT-USD
Variational Omni XAUT
Nado XAUT-PERP
Binance XAUTUSDTShow all 20 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin XAUTUSDTM | +0.0100% | 4h | 4,361.1 | 0.000% | $11.4M | $2.9M | 75x | as long as short |
| BingX XAUT-USDT | +0.0100% | 4h | 4,359.2 | −0.044% | — | $17.9M | — | as long as short |
| GRVT XAUT_USDT_Perp | +0.0100% | 4h | 4,357.7 | −0.077% | $553 | $114K | 10x | as long as short |
| Orderly PERP_XAUT_USDC_mythos | +0.0100% | 4h | 4,359.6 | −0.034% | $268 | $17K | 10x | as long as short |
| Derive XAUT-PERPlong | +0.0100% | 1h | 4,361.1 | long leg | $1.9M | $209K | 10x | |
| SunX XAUT-USDT | +0.0100% | 4h | 4,366.5 | +0.124% | $3K | $3.7M | 20x | as long as short |
| HTX XAUT-USDT | +0.0100% | 4h | 4,356 | −0.117% | $1.9M | $232K | 75x | as long as short |
| Extended XAUT-USD | +0.0104% | 1h | 4,358.6 | −0.058% | $272K | $231K | 25x | as long as short |
| Kraken Futures PF_XAUTUSD | +0.0105% | 1h | 4,361.3 | +0.004% | $5.3M | $3.6M | 50x | as long as short |
| BloFin XAUT-USDT | +0.0184% | 4h | 4,357.5 | −0.082% | $1.7M | $1.7M | 75x | as long as short |
KuCoin XAUTUSDTM
BingX XAUT-USDT
GRVT XAUT_USDT_Perp
Orderly PERP_XAUT_USDC_mythos
SunX XAUT-USDT
HTX XAUT-USDT
Extended XAUT-USD
Kraken Futures PF_XAUTUSD
BloFin XAUT-USDT