Funding you earn now, next payment 00:00 UTC−0.0495%/8h= −54.3% APRnext payment −$2.48 per $10,000 · paid last 24h +0.153%
Price spread now: Bybit against Binance−0.003%7-day average +0.261% · you buy dearer than you sell
Net, funding: paid 7d − costs−$61as in the Funding arb table
Net, price: spread back to 7d avg − costs−$123as in the Price arb table
costs, in and out, $10k−$970.969% of the position
Funding, last 7 days+0.360%+$36 on $10k
+Price spread, last 7 days+2.943%+$294 · spread now −0.003%, 7d avg +0.261%
=Both sides work against this trade now: funding costs −$15 a day on $10k at the current rate, and Bybit is 0.263% cheaper against Binance than usual: you would sell low and buy high (−$26 if the spread goes back to its 7-day average of +0.261%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.360%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance TUSDT | 0.005150 | −0.0554 | get 0.0277% / 4h | 1h 32m | $3.2M | $10.1M | 50x |
| Short | Bybit TUSDT | 0.005150 | −0.1050 | pay 0.0525% / 4h | 1h 32m | $1.6M | $2.2M | 25x |
Binance TUSDT
Bybit TUSDTFunding 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
- −$104.05
- Price spread: −0.003% → +0.261%
- −$26.33
- Slippage, 4 orders
- −$75.89
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$227.27
- Costs to cover
- 0.969%
- Break-even
- never at this rate
Slippage from Binance: live order book, 7 min ago; Bybit: live order book, 4 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, 7 min ago | 0.97 bp | 12.8 bp −$13 | 36.8 bp −$368 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 4 min ago | 1.94 bp | 28.5 bp −$29 | 222.6 bp −$2,226 | doesn't fit | doesn't fit |
T on 8 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_TUSD | −0.4853% | 1h | 0.005147 | −0.055% | $2K | $2K | 10x | as long as short |
| Bybit TUSDTshort | −0.1050% | 4h | 0.005150 | −0.003% | $1.6M | $2.2M | 25x | |
| KuCoin TUSDTM | −0.0922% | 4h | 0.005154 | +0.075% | $1.3M | $108K | 12x | as long as short |
| Gate T_USDT | −0.0898% | 4h | 0.005159 | +0.172% | $214K | $120K | 20x | as long as short |
| Variational Omni T | −0.0881% | 4h | 0.005156 | +0.112% | $7K | $13K | — | as long as short |
| Bitget TUSDT | −0.0656% | 4h | 0.005145 | −0.100% | $884K | $765K | 50x | as long as short |
| Binance TUSDTlong | −0.0554% | 4h | 0.005150 | long leg | $3.2M | $10.1M | 50x | |
| MEXC T_USDT | −0.0554% | 4h | 0.005151 | +0.017% | $3.1M | $264K | 20x | as long as short |
Kraken Futures PF_TUSD
KuCoin TUSDTM
Gate T_USDT
Variational Omni T
Bitget TUSDT
MEXC T_USDT