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Funding arb · Price arb /

NOW

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 08:00 UTC−0.0227%/8h= −24.9% APRnext payment −$2.27 per $10,000 · paid last 24h 0.000%
Price spread now: Gate against Bybit−0.051%7-day average −0.049% · you buy dearer than you sell
Net, funding: paid 7d − costs−$208as in the Funding arb table
Net, price: spread back to 7d avg − costs−$208as in the Price arb table
costs, in and out, $10k−$2072.075% of the position
Long on BybitShort on Gate
What this pair did over the last
the charts below follow
Funding, last 7 days−0.001%$0 on $10k
Price spread, last 4 days (all we have)+0.038%+$4 · spread now −0.051%, 7d avg −0.049%
Together, before fees+0.037%+$4 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.049%, so right now this pair is about funding alone: −$7 a day on $10k at the current rate.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.001% in total (about -0.0% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.27 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBybit NOWUSDT138.500.0227pay 0.0227% / 8h2h 49m$1.6M$2.4M25x
ShortGate NOW_USDT138.430get 0.0000% / 8h2h 49m$252K$346K20x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Gate against Bybit. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

click an exchange to add or hide it
latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
−$47.7
Price spread: −0.051% → −0.049%
−$0.18
Slippage, 4 orders
−$181.47
Fee Bybit: 5.5 bp × 2 orders
−$11
Fee Gate: 7.5 bp × 2 orders
−$15
Net
−$255.35
Costs to cover
2.075%
Break-even
never at this rate
Slippage from Bybit: live order book, 3 min ago; Gate: live order book, 61 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Bybit live order book, 3 min ago1.80 bp80.0 bp −$80166.4 bp −$1,664doesn't fitdoesn't fit
Sell Gate live order book, 61 min ago24.61 bp38.3 bp −$38doesn't fitdoesn't fitdoesn't fit

NOW on 16 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
OKX NOW-USDT-SWAP0.0000%8h138.58+0.058%$494K$230K20xas long as short
QFEX NOW-USD0.0000%1h138.22−0.202%$1.1M$1.5M10xas long as short
Gate NOW_USDTshort0.0000%8h138.43−0.051%$252K$346K20x
Bitget NOWUSDT0.0000%8h138.39−0.079%$767K$254K20xas long as short
SunX NOW-USDT0.0000%8h138.500.000%$679$367K10xas long as short
HTX NOW-USDT0.0000%8h138.57+0.051%$5K$34K20xas long as short
Aster NOWUSDT+0.0021%8h138.63+0.091%$41K$99520xas long as short
Lighter NOW+0.0032%1h138.32−0.130%$5K$1715xas long as short
Injective NOW/USDC PERP+0.0033%1h139.80+0.939%$3K$10112xas long as short
Vest NOW-USD-PERP+0.0046%1h138.26−0.173%——25xas long as short
Show all 16 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
KuCoin NOWUSDTM+0.0100%8h138.19−0.224%$317K$632K20xas long as short
BloFin NOW-USDT+0.0195%8h138.52+0.014%$46K$17K20xas long as short
Binance NOWUSDT+0.0207%8h138.47−0.022%$1.8M$1.4M20xas long as short
Bybit NOWUSDTlong+0.0227%8h138.50long leg$1.6M$2.4M25x
tradeXYZ xyz:NOW+0.0269%1h138.31−0.137%$2.1M$224K10xas long as short
GRVT NOW_USDT_Perp+0.0352%8h138.44−0.043%$226$146K10xas long as short