Funding you earn now, next payment 08:00 UTC−0.0454%/8h= −49.7% APRnext payment −$4.54 per $10,000 · paid last 24h −0.015%
Price spread now: Bybit against Binance+0.125%7-day average +0.029% · you sell dearer than you buy
Net, funding: paid 7d − costs−$122as in the Funding arb table
Net, price: spread back to 7d avg − costs−$108as in the Price arb table
costs, in and out, $10k−$1181.176% of the position
Funding, last 7 days−0.042%−$4 on $10k
+Price spread, last 4 days (all we have)−0.338%−$34 · spread now +0.125%, 7d avg +0.029%
=The price spread pays, funding is against you. Bybit is 0.096% dearer against Binance than usual: you sell high and buy low (spread +0.125% now, against its 7-day average of +0.029%): +$10 on $10k if it goes back. Holding the pair costs −$14 a day in funding at the current rate, which eats that in about 17 hours. At the pace of the last 7 days (−0.042% in total) that is about 16 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.042% in total (about -2.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$4.54 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance NVOUSDT | 39.870 | 0.0454 | pay 0.0454% / 8h | 55m 59s | $2.1M | $4.0M | 20x |
| Short | Bybit NVOUSDT | 39.920 | 0 | get 0.0000% / 8h | 55m 59s | $716K | $421K | 25x |
Binance NVOUSDT
Bybit NVOUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Binance. 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
- −$95.24
- Price spread: +0.125% → +0.029%
- $9.63
- Slippage, 4 orders
- −$96.61
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$203.22
- Costs to cover
- 1.176%
- Break-even
- never at this rate
Slippage from Binance: live order book, 11 min ago; Bybit: live order book, 44 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 Binance live order book, 11 min ago | 2.50 bp | 17.7 bp −$18 | 74.2 bp −$742 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 44 min ago | 6.26 bp | 29.9 bp −$30 | doesn't fit | doesn't fit | doesn't fit |
NVO on 11 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 | |
|---|---|---|---|---|---|---|---|---|
| Aster NVOUSDT | 0.0000% | 8h | 39.850 | −0.050% | $3K | $7K | 20x | as long as short |
| Bybit NVOUSDTshort | 0.0000% | 8h | 39.920 | +0.125% | $716K | $421K | 25x | |
| QFEX NVO-USD | 0.0000% | 1h | 39.810 | −0.150% | $1.1M | $1.6M | 10x | as long as short |
| Gate NVO_USDT | 0.0000% | 8h | 39.910 | +0.100% | $851K | $873K | 20x | as long as short |
| SunX NVO-USDT | 0.0000% | 8h | 39.880 | +0.025% | $962 | $1.0M | 10x | as long as short |
| HTX NVO-USDT | 0.0000% | 8h | 39.860 | −0.025% | $10K | $16K | 10x | as long as short |
| Injective NVO/USDC PERP | +0.0033% | 1h | 42.250 | +5.969% | $2K | $4 | 12x | as long as short |
| KuCoin NVOUSDTM | +0.0100% | 8h | 39.870 | 0.000% | $112K | $258K | 10x | as long as short |
| Variational Omni NVO | +0.0452% | 8h | 40.038 | +0.421% | $66K | $40K | — | as long as short |
| Binance NVOUSDTlong | +0.0454% | 8h | 39.870 | long leg | $2.1M | $4.0M | 20x |
Aster NVOUSDT
QFEX NVO-USD
Gate NVO_USDT
SunX NVO-USDT
HTX NVO-USDT
Injective NVO/USDC PERP
KuCoin NVOUSDTM
Variational Omni NVOShow all 11 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT NVO_USDT_Perp | +0.0669% | 8h | 40.040 | +0.426% | $568 | $229K | 10x | as long as short |
GRVT NVO_USDT_Perp