Funding you earn now, next payment 08:00 UTC+0.0050%/8h= +5.5% APRnext payment +$0.50 per $10,000 · paid last 24h +0.015%
Price spread now: Binance against Bybit−2.727%7-day average −2.862% · you buy dearer than you sell
Net, funding: paid 7d − costs−$157as in the Funding arb table
Net, price: spread back to 7d avg − costs−$154as in the Price arb table
costs, in and out, $10k−$1681.676% of the position
Funding, last 7 days+0.105%+$11 on $10k
+Price spread, last 4 days (all we have)+0.153%+$15 · spread now −2.727%, 7d avg −2.862%
=Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Binance is 0.135% dearer against Bybit than usual: you sell high and buy low: +$14 more if the spread goes back to its 7-day average of −2.862%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit OPENAIUSDT | 1,662.7 | 0 | get 0.0000% / 8h | 1h 15m | $754K | $205K | 25x |
| Short | Binance OPENAIUSDT | 1,617.3 | 0.0050 | get 0.0050% / 8h | 1h 15m | $22.8M | $17.7M | 20x |
Bybit OPENAIUSDT
Binance OPENAIUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance 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
- $10.5
- Price spread: −2.727% → −2.862%
- $13.51
- Slippage, 4 orders
- −$146.58
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$143.57
- Costs to cover
- 1.676%
- Break-even
- 102.7 days
Slippage from Bybit: live order book, 24 min ago; Binance: live order book, 10 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 Bybit live order book, 24 min ago | 12.11 bp | 44.3 bp −$44 | doesn't fit | doesn't fit | doesn't fit |
| Sell Binance live order book, 10 min ago | 1.33 bp | 15.4 bp −$15 | 24.4 bp −$244 | doesn't fit | doesn't fit |
OPENAI on 22 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 | |
|---|---|---|---|---|---|---|---|---|
| QFEX OPENAI-USD | −0.0002% | 1h | 1,616.7 | −2.763% | $1.2M | $618K | 10x | as long as short |
| Lighter OPENAI | 0.0000% | 1h | 1,712.5 | +2.996% | $1.4M | $266K | 5x | as long as short |
| Bybit OPENAIUSDTlong | 0.0000% | 8h | 1,662.7 | long leg | $754K | $205K | 25x | |
| OKX OPENAI-USDT-SWAP | 0.0000% | 8h | 1,648.2 | −0.871% | $5.1M | $1.3M | 20x | as long as short |
| Gate OPENAI_USDT | 0.0000% | 8h | 1,613.3 | −2.972% | $44.6M | $18.3M | 50x | as long as short |
| Bitget OPENAIUSDT | 0.0000% | 8h | 1,617.6 | −2.711% | $5.4M | $4.7M | 20x | as long as short |
| SunX OPENAI-USDT | 0.0000% | 8h | 1,619.5 | −2.597% | — | $2.4M | 10x | as long as short |
| Deribit OPENAI_USDC-PERPETUAL | 0.0000% | 1h | 1,617.5 | −2.719% | — | $3 | 5x | as long as short |
| HTX OPENAI-USDT | 0.0000% | 8h | 1,621.4 | −2.480% | $79K | $234K | 20x | as long as short |
| Phemex OPENAIUSDT | 0.0000% | 8h | 1,616.6 | −2.770% | $1.6M | $511K | 10x | as long as short |
QFEX OPENAI-USD
Lighter OPENAI
OKX OPENAI-USDT-SWAP
Gate OPENAI_USDT
Bitget OPENAIUSDT
SunX OPENAI-USDT
Deribit OPENAI_USDC-PERPETUAL
HTX OPENAI-USDT
Phemex OPENAIUSDTShow all 22 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter RH OPENAI | +0.0032% | 1h | 1,679.3 | +0.998% | $2.7M | $6.1M | 5x | as long as short |
| BloFin OPENAI-USDT | +0.0040% | 8h | 1,619 | −2.629% | $472K | $295K | 20x | as long as short |
| Coinbase International OPENAI-PERP-INTX | +0.0040% | 1h | 1,624.3 | −2.307% | $226K | $162K | 5x | as long as short |
| Extended OPENAI-USD | +0.0048% | 1h | 1,617.2 | −2.733% | $141K | $586K | 10x | as long as short |
| Aster OPENAIUSDT | +0.0050% | 8h | 1,620.2 | −2.557% | $211K | $3K | 20x | as long as short |
| Binance OPENAIUSDTshort | +0.0050% | 8h | 1,617.3 | −2.727% | $22.8M | $17.7M | 20x | |
| MEXC OPENAI_USDT | +0.0050% | 8h | 1,618 | −2.688% | $8.0M | $4.9M | 50x | as long as short |
| KuCoin OPENAIUSDTM | +0.0050% | 8h | 1,623.3 | −2.368% | $374K | $70K | 20x | as long as short |
| Variational Omni OPENAI | +0.0050% | 8h | 1,616.7 | −2.763% | $2.6M | $757K | — | as long as short |
| GRVT OPENAI_USDT_Perp | +0.0050% | 8h | 1,620.9 | −2.515% | $2K | $179K | 10x | as long as short |
| Aevo OPENAI-PERP | +0.0104% | 1h | 1,617.7 | −2.705% | — | — | 10x | as long as short |
| Entropy io:OAI | +0.0152% | 1h | 1,670.1 | +0.446% | $7.7M | $2.3M | 6x | as long as short |
Lighter RH OPENAI
BloFin OPENAI-USDT
Coinbase International OPENAI-PERP-INTX
Extended OPENAI-USD
Aster OPENAIUSDT
MEXC OPENAI_USDT
KuCoin OPENAIUSDTM
Variational Omni OPENAI
GRVT OPENAI_USDT_Perp
Aevo OPENAI-PERP
Entropy io:OAI