Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0049%/8h= +5.4% APRpaid last 24h +0.050%

Price spread now: Backpack against OKX0.000%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on OKX Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.198%+$20 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX 0G-USDT-SWAP	0.2320	0.0100	pay 0.0050% / 4h	2h 41m	$864K	$2.3M	20x
Short	Backpack 0G_USDC_PERP	0.2320	0.0149	get 0.0019% / 1h	41m 51s	$31K	$57K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against OKX. 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

Position, each leg$Hold fordaysFee OKXbpFee BackpackbpOrdersPrice spread, now 0.000%Rate

Funding earned: $10.34
Price spread: 0.000% → 0.000%: $0
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$9.66
Costs to cover: 0.200%
Break-even: 13.5 days

Slippage unknown: OKX: live order book, 5 min ago; Backpack: 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 OKX live order book, 5 min ago	2.14 bp	24.5 bp −$24	doesn't fit	doesn't fit	doesn't fit
Sell Backpack no order-book sample	—	—	—	—	—

Backpack: 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.

0G on 16 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
BingX 0G-USDT	−0.0640%	4h	0.2318	−0.086%	—	$6.5M	—	as long as short
GMX 0G/USD [WBTC.b-USDC]	L −0.0235% / S +0.0198%	1h	0.2318	−0.068%	$2K	—	100x	as long as short
Aster 0GUSDT	+0.0100%	4h	0.2321	+0.048%	$16K	$42K	5x	as long as short
Binance 0GUSDT	+0.0100%	4h	0.2320	0.000%	$6.9M	$8.3M	50x	as long as short
Bybit 0GUSDT	+0.0100%	4h	0.2317	−0.129%	$2.4M	$2.2M	50x	as long as short
OKX 0G-USDT-SWAPlong	+0.0100%	4h	0.2320	long leg	$864K	$2.3M	20x
Gate 0G_USDT	+0.0100%	8h	0.2322	+0.086%	$600K	$155K	50x	as long as short
MEXC 0G_USDT	+0.0100%	4h	0.2320	0.000%	$2.1M	$245K	50x	as long as short
Bitget 0GUSDT	+0.0100%	4h	0.2319	−0.043%	$1.9M	$796K	50x	as long as short
Variational Omni 0G	+0.0100%	4h	0.2329	+0.392%	$15K	$6K	—	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni 0GUSDT	+0.0100%	1h	0.2333	+0.565%	$18K	$622K	50x	as long as short
BloFin 0G-USDT	+0.0103%	4h	0.2325	+0.216%	$326K	$10K	50x	as long as short
Backpack 0G_USDC_PERPshort	+0.0149%	1h	0.2320	0.000%	$31K	$57K	5x
KuCoin 0GUSDTM	+0.0150%	4h	0.2324	+0.185%	$2.3M	$2.3M	50x	as long as short
Hyperliquid 0G	+0.0640%	1h	0.2324	+0.181%	$2.5M	$458K	3x	as long as short
Lighter 0G	+0.0832%	1h	0.2326	+0.259%	$48K	$87K	3x	as long as short