Funding you earn now, next payment 02:00 UTC−0.0104%/8h= −11.4% APRpaid last 24h −0.171%
Price spread now: Deribit against Bybit+0.144%55s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 5 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
The price spread pays, funding is against you. Deribit is 0.144% dearer against Bybit than usual: you sell high and buy low (spread +0.144% now, against zero (this spread has no 7-day history yet)): +$14 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 4.6 days. The two prices were read 55 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 | Bybit WUSDT | 0.01181 | 0.0100 | pay 0.0050% / 4h | 2h 01m | $4.1M | $1.9M | 50x |
| Short | Deribit W_USDC-PERPETUAL | 0.01182 | −0.0004 | pay 0.0000% / 1h | 1m 25s | $16K | $2K | 10x |
Bybit WUSDT
Deribit W_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against Bybit. 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
- −$21.77
- Price spread: +0.144% → 0.000%
- $14.4
- Slippage, 4 orders
- no order book: not counted
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$25.37
- Costs to cover
- 0.180%
- Break-even
- never at this rate
Slippage unknown: Bybit: live order book, 1 min ago; Deribit: no order-book sample. Net counts fees only.
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 Bybit live order book, 1 min ago | 3.81 bp | 30.6 bp −$31 | 137.6 bp −$1,376 | doesn't fit | doesn't fit |
| Sell Deribit no order-book sample | — | — | — | — | — |
Deribit: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
W on 17 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit W_USDC-PERPETUALshort | −0.0004% | 1h | 0.01182 | +0.144% | $16K | $2K | 10x | |
| Injective W/USDC PERP | +0.0033% | 1h | 0.01209 | +2.397% | $1K | $1K | 12x | as long as short |
| Hyperliquid W | +0.0100% | 1h | 0.01182 | +0.110% | $2.0M | $385K | 5x | as long as short |
| Binance WUSDT | +0.0100% | 4h | 0.01182 | +0.088% | $3.0M | $6.6M | 50x | as long as short |
| Bybit WUSDTlong | +0.0100% | 4h | 0.01181 | long leg | $4.1M | $1.9M | 50x | |
| OKX W-USDT-SWAP | +0.0100% | 4h | 0.01181 | −0.008% | $1.3M | $1.9M | 20x | as long as short |
| Gate W_USDT | +0.0100% | 4h | 0.01179 | −0.110% | $445K | $265K | 75x | as long as short |
| MEXC W_USDT | +0.0100% | 4h | 0.01182 | +0.102% | $12.8M | $1.4M | 50x | as long as short |
| KuCoin WUSDTM | +0.0100% | 4h | 0.01182 | +0.110% | $387K | $212K | 50x | as long as short |
| Bitget WUSDT | +0.0100% | 4h | 0.01181 | +0.025% | $1.3M | $569K | 50x | as long as short |
Injective W/USDC PERP
Hyperliquid W
Binance WUSDT
OKX W-USDT-SWAP
Gate W_USDT
MEXC W_USDT
KuCoin WUSDTM
Bitget WUSDTShow all 17 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX W-USDT | +0.0100% | 4h | 0.01182 | +0.076% | — | $6.8M | — | as long as short |
| Variational Omni W | +0.0100% | 4h | 0.01179 | −0.115% | $71K | $41K | — | as long as short |
| GRVT W_USDT_Perp | +0.0100% | 4h | 0.01181 | +0.025% | $129K | $393K | 10x | as long as short |
| Extended W-USD | +0.0104% | 1h | 0.01182 | +0.104% | $59K | $239K | 5x | as long as short |
| Coinbase International W-PERP-INTX | +0.0360% | 1h | 0.01183 | +0.186% | $14K | $15K | 50x | as long as short |
| Backpack W_USDC_PERP | +0.0411% | 1h | 0.01184 | +0.263% | $44K | $46K | 15x | as long as short |
| Kraken Futures PF_WUSD | +0.1535% | 1h | 0.01185 | +0.378% | $147K | $180K | 20x | as long as short |
BingX W-USDT
Variational Omni W
GRVT W_USDT_Perp
Extended W-USD
Coinbase International W-PERP-INTX
Backpack W_USDC_PERP
Kraken Futures PF_WUSD