Funding you earn now, next payment 16:00 UTC−0.0132%/8h= −14.4% APRnext payment −$1.32 per $10,000 · paid last 24h −0.036%
Price spread now: Bybit against BloFin−0.111%102s7-day average +0.020% · you buy dearer than you sell
Net, funding: paid 7d − costs−$64as 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−$500.496% of the position
Funding, last 7 days−0.149%−$15 on $10k
+Price spread, last 4 days (all we have)+0.364%+$36 · spread now −0.111%, 7d avg +0.020%
=Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Bybit is 0.131% cheaper against BloFin than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of +0.020%). Swap the legs. The two prices were read 102 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 | BloFin COIN-USDT | 197.86 | 0.0132 | pay 0.0132% / 8h | 6h 57m | $189K | $489K | 20x |
| Short | Bybit COINUSDT | 197.64 | 0 | get 0.0000% / 8h | 6h 57m | $4.6M | $5.8M | 50x |
BloFin COIN-USDT
Bybit COINUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against BloFin. 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
- −$27.62
- Price spread: −0.111% → +0.020%
- −$13.1
- Slippage, 4 orders
- −$26.63
- Fee BloFin: 6 bp × 2 orders
- −$12
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$90.34
- Costs to cover
- 0.496%
- Break-even
- never at this rate
Slippage from BloFin: live order book, 13 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 BloFin live order book, 13 min ago | 1.76 bp | 10.6 bp −$11 | 15.8 bp −$158 | 32.2 bp −$3,218 | doesn't fit |
| Sell Bybit live order book, 5 min ago | 1.01 bp | 15.3 bp −$15 | 35.8 bp −$358 | 152.9 bp −$15.3K | doesn't fit |
COIN on 26 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective COIN/USDC PERP | −0.0440% | 1h | 197.50 | −0.182% | $17K | $224K | 30x | as long as short |
| Ondo Perps COIN-USD.P | −0.0142% | 1h | 197.47 | −0.197% | $381K | $2.3M | 10x | as long as short |
| tradeXYZ xyz:COIN | −0.0044% | 1h | 197.52 | −0.172% | $14.9M | $12.2M | 10x | as long as short |
| Vest COIN-USD-PERP | −0.0020% | 1h | 197.50 | −0.182% | — | $322K | 25x | as long as short |
| Aster COINUSDT | 0.0000% | 8h | 197.72 | −0.072% | $345K | $879K | 20x | as long as short |
| Bybit COINUSDTshort | 0.0000% | 8h | 197.64 | −0.111% | $4.6M | $5.8M | 50x | |
| OKX COIN-USDT-SWAP | 0.0000% | 8h | 197.70 | −0.081% | $3.1M | $4.7M | 20x | as long as short |
| Gate COIN_USDT | 0.0000% | 8h | 197.67 | −0.096% | $1.2M | $6.5M | 50x | as long as short |
| Bitget COINUSDT | 0.0000% | 8h | 197.73 | −0.066% | $6.4M | $10.0M | 20x | as long as short |
| Variational Omni COIN | 0.0000% | 8h | 197.99 | +0.065% | $672K | $831K | — | as long as short |
Injective COIN/USDC PERP
Ondo Perps COIN-USD.P
tradeXYZ xyz:COIN
Vest COIN-USD-PERP
Aster COINUSDT
OKX COIN-USDT-SWAP
Gate COIN_USDT
Bitget COINUSDT
Variational Omni COINShow all 26 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT COIN_USDT_Perp | 0.0000% | 8h | 198.26 | +0.202% | $14K | $3.0M | 10x | as long as short |
| Binance COINUSDT | +0.0027% | 8h | 197.72 | −0.068% | $14.6M | $79.3M | 20x | as long as short |
| Lighter COIN | +0.0032% | 1h | 197.59 | −0.139% | $356K | $2.0M | 10x | as long as short |
| Lighter RH COIN | +0.0032% | 1h | 197.59 | −0.136% | $471K | $1.2M | 10x | as long as short |
| Extended COIN_24_5-USD | +0.0032% | 1h | 197.61 | −0.129% | $105K | $848K | 10x | as long as short |
| QFEX COIN-USD | +0.0036% | 1h | 197.60 | −0.131% | $1.3M | $2.7M | 10x | as long as short |
| Arcus COIN-USD | +0.0040% | 1h | 197.75 | −0.056% | $17K | $37K | 5x | as long as short |
| Polymarket Perps COIN-USD | +0.0050% | 1h | 197.55 | −0.157% | $138K | $1.4M | 10x | as long as short |
| SoDEX COIN-USD | +0.0050% | 1h | 197.66 | −0.101% | $76 | $3K | 10x | as long as short |
| KuCoin COINUSDTM | +0.0100% | 8h | 197.69 | −0.086% | $932K | $228K | 20x | as long as short |
| ApeX Omni COINUSDT | +0.0100% | 1h | 198.00 | +0.071% | $89K | $280K | 50x | as long as short |
| Orderly PERP_COIN_USDC_mythos | +0.0100% | 8h | 197.81 | −0.025% | $572 | $4K | 10x | as long as short |
| Aevo COIN-PERP | +0.0104% | 1h | 197.68 | −0.093% | $117 | — | 10x | as long as short |
| BloFin COIN-USDTlong | +0.0132% | 8h | 197.86 | long leg | $189K | $489K | 20x | |
| Phoenix COIN | +0.0164% | 1h | 198.21 | +0.177% | $5K | $253K | 10x | as long as short |
| edgeX COINUSDC | +0.0632% | 4h | 198.03 | +0.084% | $51K | $293K | 10x | as long as short |
GRVT COIN_USDT_Perp
Binance COINUSDT
Lighter COIN
Lighter RH COIN
Extended COIN_24_5-USD
QFEX COIN-USD
Arcus COIN-USD
Polymarket Perps COIN-USD
SoDEX COIN-USD
KuCoin COINUSDTM
ApeX Omni COINUSDT
Orderly PERP_COIN_USDC_mythos
Aevo COIN-PERP
Phoenix COIN
edgeX COINUSDC