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BTW — funding rate on Bybit
Bybit · BTWUSDT+0.110%per 4h · +0.028%/hshorts receive
last settlement+0.111%→upcoming payout+0.110%• unchanged
1:45:07settlement
1calmheat
Price (mark)
1.194
+13.7% 24h
Vol 24h
$50.3M
Open interest
$27.8M
Price move in 2 min
—
avg 7d
+0.016%/h
avg 30d
+0.008%/h
Price and skew
Price and settlements
216 five-minute candles — a day around the event
updown▲ settlement and ratemark price
Liquidations
24h$60K
$10K longs$51K shorts
Shorts were wiped — 84% of the total. $4K over the last hour.
Imbalance dynamicsPRO · open for now
now $23.8M·series over 11h 18m·event closed, lasted 7h 41m
now $23.8M·series over 11h 18m·event closed, lasted 7h 41m
imbalance is holdingno new positions are piling in, but none are leaving either
OI, BTWpricesettlements · 4h
over the seriesover the last hourpositions+5.6%+0.8%price-0.5%+8.3%
Event life curvePRO · open for now
Across 5 closed events of this pair: a typical one lives 22m, the peak usually lands within the first 5 min
median across 5 eventsmedian peak minute
at later minutes only long-livers remain in the sample — the curve is conditional, not «acceleration»
How they ended: funding covered the adverse price move in 3 of 5 cases
median accrued 0.02%; in at least half the events price moved in the receiver's favour
Entry economics
Position calculator
- Position size
- $2,500
- Funding per settlement (4h)
- $2.76 · $0.69/hour
- Net snipe per settlement
- $-1.24 = 0.110% − 0.110% − 0.050%
- Break-even for entry
- rate covers the threshold 0.69×needs 0.160%+ per settlement
- Liquidation price
- 1.4268 (+19.50% from price)
- Risk at this leverage
- no volatility data
- Max “green” leverage
- —
Funding goes to whoever holds the position at the cut-off. MMR in the liquidation formula is +0.50%; verify the price on the exchange before trading.
Settlement window · facts (3)
before cut-off · 5m · the snipe window (3)
avg+0.39%
max+0.56%
after · 5m
avg+0.83% | -0.56%
max+1.06%
before cut-off · 15m
avg+0.31% | -0.48%
max+0.48%
after · 15m
avg+2.12% | -1.20%
max+3.32%
| Cut-off | Rate | Before | After |
|---|---|---|---|
| 25.09 08:00 | +0.254% | +0.48% | +3.32% |
| 25.09 04:00 | +0.324% | +0.14% | -1.20% |
| 25.09 00:00 | +0.462% | -0.48% | +0.92% |
Settlement profilePRO · open for now
How this pair's price behaves around the payout — averaged over 3 settlements
average across settlementsspread: worst … best outcome
Context and comparison
Funding history · 545 settlements
BTW on 3 exchanges
| Exchange | Rate | Per hour | Receives | Snipe |
|---|---|---|---|---|
| Bybit ← you are here | +0.110% / 4h | +0.028%/h | shorts | -0.050% |
| Binance | +0.060% / 4h | +0.015%/h | shorts | -0.100% |
| Bitget | -0.050% / 4h | -0.012%/h | longs | -0.110% |
Bybit← you are here+0.028%/h
shortsrate +0.110% / 4hsnipe -0.050%
Binance+0.015%/h
shortsrate +0.060% / 4hsnipe -0.100%
Bitget-0.012%/h
longsrate -0.050% / 4hsnipe -0.110%
Max spread across exchanges: +0.040%/h
BTW across all exchanges: comparison & curves →Rates across exchangesPRO · open for now
3 exchanges on one timeline
Bybitevery 4hBinanceevery 4hBitgetevery 4hrate corridor between exchanges
exchanges settle at different frequencies — an 8-hour step is bound to «lag» a 1-hour one, that's its grid, not a slower market
spread typically
0.0108%/h
widest spread
0.0955%/h
24.09 21:00 UTC · Bybit ↔ Bitget
the spread is the hedge's rate before fees: that's what an hour of the pair-trade yields
How to read this
- Snipe: enter short before the cut-off, exit after settlement. Funding goes to whoever holds the position at the cut-off. The net capture in the calculator is already net of fees and slippage — and it does not include price moving against you in the settlement window (see volatility above).
- Hedged: a short here + an opposite position of the same size on another exchange or spot — funding capture without price risk, but four legs of fees.
- Extreme funding is a crowd story: price often runs into the cut-off and reverses after. This is data for a decision, not a recommendation.