Funding you earn now, next payment 04:00 UTC−0.0323%/8h= −35.4% APRpaid last 24h −0.007%
Price spread now: Bybit against Binance−0.066%7-day average −0.004% · you buy dearer than you sell
Net, funding: paid 7d − costs−$125as in the Funding arb table
Net, price: spread back to 7d avg − costs−$133as in the Price arb table
costs, in and out, $10k−$1271.266% of the position
Funding, last 7 days+0.017%+$2 on $10k
+Price spread, last 7 days+0.091%+$9 · spread now −0.066%, 7d avg −0.004%
=Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Bybit is 0.062% cheaper against Binance than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.004%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.017% in total (about 0.9% a year). A funding rate is set anew for every payment. 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 GMTUSDT | 0.008503 | 0.0100 | pay 0.0050% / 4h | 1h 36m | $2.9M | $5.0M | 50x |
| Short | Bybit GMTUSDT | 0.008497 | −0.0223 | pay 0.0223% / 8h | 5h 36m | $1.1M | $1.9M | 50x |
Binance GMTUSDT
Bybit GMTUSDTFunding 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
- −$67.85
- Price spread: −0.066% → −0.004%
- −$6.21
- Slippage, 4 orders
- −$105.59
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$200.65
- Costs to cover
- 1.266%
- Break-even
- never at this rate
Slippage from Binance: live order book, 1 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 Binance live order book, 1 min ago | 2.35 bp | 17.9 bp −$18 | 142.0 bp −$1,420 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 5 min ago | 2.34 bp | 35.1 bp −$35 | 199.6 bp −$1,996 | doesn't fit | doesn't fit |
GMT on 12 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_GMTUSD | −0.1572% | 1h | 0.008516 | +0.151% | $44K | $13K | 20x | as long as short |
| KuCoin GMTUSDTM | −0.0486% | 4h | 0.008510 | +0.086% | $279K | $192K | 50x | as long as short |
| OKX GMT-USDT-SWAP | −0.0266% | 4h | 0.008496 | −0.078% | $391K | $1.1M | 20x | as long as short |
| Bybit GMTUSDTshort | −0.0223% | 8h | 0.008497 | −0.066% | $1.1M | $1.9M | 50x | |
| Gate GMT_USDT | −0.0039% | 8h | 0.008510 | +0.086% | $149K | $176K | 50x | as long as short |
| Aster GMTUSDT | +0.0026% | 4h | 0.008521 | +0.214% | $8K | $21K | 10x | as long as short |
| Variational Omni GMT | +0.0083% | 8h | 0.008552 | +0.584% | $4K | $5K | — | as long as short |
| Hyperliquid GMT | +0.0100% | 1h | 0.008505 | +0.028% | $116K | $147K | 3x | as long as short |
| Binance GMTUSDTlong | +0.0100% | 4h | 0.008503 | long leg | $2.9M | $5.0M | 50x | |
| MEXC GMT_USDT | +0.0100% | 4h | 0.008495 | −0.090% | $440K | $211K | 20x | as long as short |
Kraken Futures PF_GMTUSD
KuCoin GMTUSDTM
OKX GMT-USDT-SWAP
Gate GMT_USDT
Aster GMTUSDT
Variational Omni GMT
Hyperliquid GMT
MEXC GMT_USDTShow all 12 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget GMTUSDT | +0.0100% | 4h | 0.008499 | −0.043% | $672K | $623K | 50x | as long as short |
| BingX GMT-USDT | +0.0100% | 4h | 0.008496 | −0.078% | — | $1.2M | — | as long as short |
Bitget GMTUSDT
BingX GMT-USDT