Funding you earn now, next payment 16:00 UTC+0.0228%/8h= +25.0% APRnext payment +$2.28 per $10,000 · paid last 24h −0.012%
Price spread now: Bybit against KuCoin−0.007%7-day average +0.125% · you buy dearer than you sell
Net, funding: paid 7d − costs−$692as in the Funding arb table
Net, price: spread back to 7d avg − costs−$701as in the Price arb table
costs, in and out, $10k−$6886.877% of the position
Funding, last 7 days−0.043%−$4 on $10k
+Price spread, last 4 days (all we have)+0.019%+$2 · spread now −0.007%, 7d avg +0.125%
=Funding pays, the price is against you. Bybit is 0.132% cheaper against KuCoin than usual: you would sell low and buy high (spread −0.007% now, against its 7-day average of +0.125%). If the spread goes back, that is −$13 on $10k: about 46 hours of funding at the current rate (+$7 a day).
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.043% in total (about -2.2% a year). A funding rate is set anew for every payment; at this rate the next one is about +$2.28 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | KuCoin NOWUSDTM | 140.06 | 0.0100 | pay 0.0100% / 8h | 5h 44m | $310K | $767K | 20x |
| Short | Bybit NOWUSDT | 140.05 | 0.0328 | get 0.0328% / 8h | 5h 44m | $1.6M | $187K | 25x |
KuCoin NOWUSDTM
Bybit NOWUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against KuCoin. 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
- $47.87
- Price spread: −0.007% → +0.125%
- −$13.23
- Slippage, 4 orders
- −$664.65
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$653.01
- Costs to cover
- 6.877%
- Break-even
- 102.5 days
Slippage from KuCoin: live order book, 61 min ago; Bybit: live order book, 5 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 KuCoin live order book, 61 min ago | 3.91 bp | 302.4 bp −$302 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bybit live order book, 5 min ago | 2.86 bp | 61.4 bp −$61 | 180.3 bp −$1,803 | doesn't fit | doesn't fit |
NOW on 16 exchanges
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 | |
|---|---|---|---|---|---|---|---|---|
| QFEX NOW-USD | −0.0001% | 1h | 139.90 | −0.114% | $1.1M | $1.4M | 10x | as long as short |
| OKX NOW-USDT-SWAP | 0.0000% | 8h | 140.19 | +0.093% | $520K | $258K | 20x | as long as short |
| Gate NOW_USDT | 0.0000% | 8h | 140.01 | −0.036% | $241K | $335K | 20x | as long as short |
| Bitget NOWUSDT | 0.0000% | 8h | 139.93 | −0.093% | $816K | $285K | 20x | as long as short |
| SunX NOW-USDT | 0.0000% | 8h | 140.01 | −0.036% | $953 | $265K | 10x | as long as short |
| HTX NOW-USDT | 0.0000% | 8h | 139.70 | −0.257% | $5K | $37K | 20x | as long as short |
| Lighter NOW | +0.0032% | 1h | 139.98 | −0.057% | $5K | $309 | 5x | as long as short |
| Injective NOW/USDC PERP | +0.0033% | 1h | 139.80 | −0.186% | $3K | $101 | 12x | as long as short |
| Vest NOW-USD-PERP | +0.0046% | 1h | 139.96 | −0.071% | — | — | 25x | as long as short |
| Aster NOWUSDT | +0.0087% | 8h | 140.28 | +0.156% | $41K | $4K | 20x | as long as short |
QFEX NOW-USD
OKX NOW-USDT-SWAP
Gate NOW_USDT
Bitget NOWUSDT
SunX NOW-USDT
HTX NOW-USDT
Lighter NOW
Injective NOW/USDC PERP
Vest NOW-USD-PERP
Aster NOWUSDTShow all 16 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin NOWUSDTMlong | +0.0100% | 8h | 140.06 | long leg | $310K | $767K | 20x | |
| Binance NOWUSDT | +0.0186% | 8h | 140.05 | −0.007% | $1.9M | $1.5M | 20x | as long as short |
| BloFin NOW-USDT | +0.0212% | 8h | 140.11 | +0.036% | $46K | $19K | 20x | as long as short |
| Bybit NOWUSDTshort | +0.0328% | 8h | 140.05 | −0.007% | $1.6M | $187K | 25x | |
| tradeXYZ xyz:NOW | +0.0340% | 1h | 139.97 | −0.064% | $2.1M | $243K | 10x | as long as short |
| GRVT NOW_USDT_Perp | +0.0381% | 8h | 140.03 | −0.022% | $563 | $120K | 10x | as long as short |
Binance NOWUSDT
BloFin NOW-USDT
tradeXYZ xyz:NOW
GRVT NOW_USDT_Perp