Funding you earn now, next payment 00:00 UTC+0.2865%/8h= +313.8% APRnext payment +$14.33 per $10,000 · paid last 24h +0.504%
Price spread now: Bybit against Bitget−0.437%7-day average +0.054% · you buy dearer than you sell
Net, funding: paid 7d − costs−$239as in the Funding arb table
Net, price: spread back to 7d avg − costs−$332as in the Price arb table
costs, in and out, $10k−$2832.829% of the position
Funding, last 7 days+0.442%+$44 on $10k
+Price spread, last 4 days (all we have)+0.453%+$45 · spread now −0.437%, 7d avg +0.054%
=Funding pays, the price is against you. Bybit is 0.491% cheaper against Bitget than usual: you would sell low and buy high (spread −0.437% now, against its 7-day average of +0.054%). If the spread goes back, that is −$49 on $10k: about 14 hours of funding at the current rate (+$86 a day). At the pace of the last 7 days (+0.442% in total) that is about 7.8 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.442% in total (about 23.1% a year). A funding rate is set anew for every payment; at this rate the next one is about +$14.33 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 | Bitget STEEMUSDT | 0.05727 | 0.0100 | pay 0.0050% / 4h | 1h 37m | $443K | $234K | 25x |
| Short | Bybit STEEMUSDT | 0.05702 | 0.2965 | get 0.1483% / 4h | 1h 37m | $1.3M | $966K | 13x |
Bitget STEEMUSDT
Bybit STEEMUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit 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
- $601.75
- Price spread: −0.437% → +0.054%
- −$49.08
- Slippage, 4 orders
- −$259.85
- Fee Bitget: 6 bp × 2 orders
- −$12
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- $269.81
- Costs to cover
- 2.829%
- Break-even
- 3.9 days
Slippage from Bitget: live order book, 38 min ago; Bybit: live order book, 3 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, 38 min ago | 6.11 bp | 35.5 bp −$35 | 144.6 bp −$1,446 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 3 min ago | 4.38 bp | 126.5 bp −$127 | 215.4 bp −$2,154 | doesn't fit | doesn't fit |
STEEM 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_STEEMUSD | −0.0381% | 1h | 0.05738 | +0.187% | $8K | $5K | 10x | as long as short |
| BingX STEEM-USDT | +0.0070% | 4h | 0.05718 | −0.157% | — | $1.6M | — | as long as short |
| Aster STEEMUSDT | +0.0100% | 4h | 0.05726 | −0.017% | $16K | $10K | 5x | as long as short |
| Binance STEEMUSDT | +0.0100% | 4h | 0.05723 | −0.063% | $2.1M | $3.4M | 25x | as long as short |
| MEXC STEEM_USDT | +0.0100% | 4h | 0.05725 | −0.035% | $423K | $112K | 20x | as long as short |
| KuCoin STEEMUSDTM | +0.0100% | 4h | 0.05723 | −0.070% | $416K | $92K | 30x | as long as short |
| Bitget STEEMUSDTlong | +0.0100% | 4h | 0.05727 | long leg | $443K | $234K | 25x | |
| HTX STEEM-USDT | +0.0100% | 4h | 0.05719 | −0.140% | $40K | $32K | 20x | as long as short |
| Gate STEEM_USDT | +0.1462% | 4h | 0.05741 | +0.244% | $287K | $120K | 20x | as long as short |
| Variational Omni STEEM | +0.1524% | 4h | 0.05706 | −0.369% | $12K | $147 | — | as long as short |
Kraken Futures PF_STEEMUSD
BingX STEEM-USDT
Aster STEEMUSDT
Binance STEEMUSDT
MEXC STEEM_USDT
KuCoin STEEMUSDTM
HTX STEEM-USDT
Gate STEEM_USDT
Variational Omni STEEMShow all 11 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit STEEMUSDTshort | +0.2965% | 4h | 0.05702 | −0.437% | $1.3M | $966K | 13x |