Funding you earn now, next payment 04:00 UTC−0.0025%/8h= −2.8% APRnext payment −$0.13 per $10,000 · paid last 24h +0.006%
Price spread now: BloFin against Bitget−0.635%95s7-day average −0.059% · you buy dearer than you sell
Net, funding: paid 7d − costs−$90as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$930.927% of the position
Funding, last 7 days+0.022%+$2 on $10k
+Price spread, last 3 days (all we have)+0.524%+$52 · spread now −0.635%, 7d avg −0.059%
=Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and BloFin is 0.576% cheaper against Bitget than usual: you would sell low and buy high (−$58 if the spread goes back to its 7-day average of −0.059%). Swap the legs. The two prices were read 95 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bitget NILUSDT | 0.06933 | 0.0100 | pay 0.0050% / 4h | 3h 09m | $1.8M | $8.3M | 50x |
| Short | BloFin NIL-USDT | 0.06889 | 0.0075 | get 0.0037% / 4h | 3h 09m | $354K | $131K | 50x |
Bitget NILUSDT
BloFin NIL-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BloFin against Bitget. 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
- −$5.3
- Price spread: −0.635% → −0.059%
- −$57.56
- Slippage, 4 orders
- −$68.67
- Fee Bitget: 6 bp × 2 orders
- −$12
- Fee BloFin: 6 bp × 2 orders
- −$12
- Net
- −$155.52
- Costs to cover
- 0.927%
- Break-even
- never at this rate
Slippage from Bitget: live order book, 4 min ago; BloFin: live order book, 60 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 Bitget live order book, 4 min ago | 5.83 bp | 21.5 bp −$21 | 136.2 bp −$1,362 | doesn't fit | doesn't fit |
| Sell BloFin live order book, 60 min ago | 0.74 bp | 19.8 bp −$20 | 63.3 bp −$633 | doesn't fit | doesn't fit |
NIL 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 | |
|---|---|---|---|---|---|---|---|---|
| BloFin NIL-USDTshort | +0.0075% | 4h | 0.06889 | −0.635% | $354K | $131K | 50x | |
| Aster NILUSDT | +0.0100% | 4h | 0.06916 | −0.238% | $23K | $341K | 5x | as long as short |
| Binance NILUSDT | +0.0100% | 4h | 0.06923 | −0.151% | $5.4M | $76.3M | 50x | as long as short |
| Gate NIL_USDT | +0.0100% | 4h | 0.06916 | −0.245% | $443K | $2.0M | 50x | as long as short |
| MEXC NIL_USDT | +0.0100% | 4h | 0.06929 | −0.058% | $2.4M | $4.7M | 100x | as long as short |
| KuCoin NILUSDTM | +0.0100% | 4h | 0.06926 | −0.101% | $517K | $661K | 30x | as long as short |
| Bitget NILUSDTlong | +0.0100% | 4h | 0.06933 | long leg | $1.8M | $8.3M | 50x | |
| Extended NIL-USD | +0.0104% | 1h | 0.06918 | −0.219% | $17K | $92K | 5x | as long as short |
| Variational Omni NIL | +0.0360% | 4h | 0.06939 | +0.084% | $180K | $267K | — | as long as short |
| Bybit NILUSDT | +0.0612% | 4h | 0.06940 | +0.101% | $3.9M | $13.7M | 20x | as long as short |
Aster NILUSDT
Binance NILUSDT
Gate NIL_USDT
MEXC NIL_USDT
KuCoin NILUSDTM
Extended NIL-USD
Variational Omni NIL
Bybit NILUSDTShow all 12 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX NIL-USDT | +0.0618% | 4h | 0.06925 | −0.115% | — | $8.5M | — | as long as short |
| Hyperliquid NIL | +0.4005% | 1h | 0.06940 | +0.098% | $4.4M | $4.5M | 3x | as long as short |
BingX NIL-USDT
Hyperliquid NIL