Funding you earn now, next payment 16:00 UTC+0.0333%/8h= +36.5% APRnext payment +$3.33 per $10,000 · paid last 24h +0.018%
Price spread now: Bybit against SunX−0.036%7-day average −0.010% · you buy dearer than you sell
Net, funding: paid 7d − costs−$235as in the Funding arb table
Net, price: spread back to 7d avg − costs−$240as in the Price arb table
costs, in and out, $10k−$2372.370% of the position
Funding, last 7 days+0.018%+$2 on $10k
+Price spread, last 4 days (all we have)−0.156%−$16 · spread now −0.036%, 7d avg −0.010%
=Funding pays, the price is against you. Bybit is 0.026% cheaper against SunX than usual: you would sell low and buy high (spread −0.036% now, against its 7-day average of −0.010%). If the spread goes back, that is −$3 on $10k: about 6 hours of funding at the current rate (+$10 a day). At the pace of the last 7 days (+0.018% in total) that is about 10 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.018% in total (about 0.9% a year). A funding rate is set anew for every payment; at this rate the next one is about +$3.33 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 | SunX NOW-USDT | 140.02 | 0 | get 0.0000% / 8h | 5h 47m | $928 | $266K | 10x |
| Short | Bybit NOWUSDT | 139.97 | 0.0333 | get 0.0333% / 8h | 5h 47m | $1.6M | $187K | 25x |
SunX NOW-USDT
Bybit NOWUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against SunX. 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
- $69.96
- Price spread: −0.036% → −0.010%
- −$2.61
- Slippage, 4 orders
- −$218.01
- Fee SunX: 4 bp × 2 orders
- −$8
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$169.66
- Costs to cover
- 2.370%
- Break-even
- 24.0 days
Slippage from SunX: live order book, 55 min ago; Bybit: live order book, 2 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 SunX live order book, 55 min ago | 46.54 bp | 64.9 bp −$65 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bybit live order book, 2 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 | 139.78 | −0.171% | $1.1M | $1.4M | 10x | as long as short |
| OKX NOW-USDT-SWAP | 0.0000% | 8h | 139.98 | −0.029% | $519K | $258K | 20x | as long as short |
| Gate NOW_USDT | 0.0000% | 8h | 139.94 | −0.057% | $240K | $333K | 20x | as long as short |
| Bitget NOWUSDT | 0.0000% | 8h | 139.98 | −0.029% | $816K | $285K | 20x | as long as short |
| SunX NOW-USDTlong | 0.0000% | 8h | 140.02 | long leg | $928 | $266K | 10x | |
| HTX NOW-USDT | 0.0000% | 8h | 140.08 | +0.043% | $5K | $37K | 20x | as long as short |
| Lighter NOW | +0.0032% | 1h | 139.95 | −0.050% | $5K | $309 | 5x | as long as short |
| Injective NOW/USDC PERP | +0.0033% | 1h | 139.80 | −0.157% | $3K | $101 | 12x | as long as short |
| Vest NOW-USD-PERP | +0.0046% | 1h | 139.83 | −0.136% | — | — | 25x | as long as short |
| Aster NOWUSDT | +0.0085% | 8h | 139.95 | −0.050% | $41K | $4K | 20x | as long as short |
QFEX NOW-USD
OKX NOW-USDT-SWAP
Gate NOW_USDT
Bitget NOWUSDT
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 NOWUSDTM | +0.0100% | 8h | 139.98 | −0.029% | $310K | $766K | 20x | as long as short |
| Binance NOWUSDT | +0.0185% | 8h | 140.00 | −0.014% | $1.9M | $1.5M | 20x | as long as short |
| BloFin NOW-USDT | +0.0193% | 8h | 140.08 | +0.043% | $46K | $18K | 20x | as long as short |
| Bybit NOWUSDTshort | +0.0333% | 8h | 139.97 | −0.036% | $1.6M | $187K | 25x | |
| tradeXYZ xyz:NOW | +0.0374% | 1h | 139.92 | −0.071% | $2.1M | $243K | 10x | as long as short |
| GRVT NOW_USDT_Perp | +0.0401% | 8h | 140.21 | +0.135% | $564 | $120K | 10x | as long as short |
KuCoin NOWUSDTM
Binance NOWUSDT
BloFin NOW-USDT
tradeXYZ xyz:NOW
GRVT NOW_USDT_Perp