Funding arb · Price arb /

2Z

all 2Z markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: OKX against Binance+0.019%7-day average +0.040% · you sell dearer than you buy

Net, funding: paid 7d − costs−$122as in the Funding arb table

Net, price: spread back to 7d avg − costs−$114as in the Price arb table

costs, in and out, $10k−$1121.115% of the position

Long on Binance Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.103%−$10 on $10k

Price spread, last 4 days (all we have)−0.006%−$1 · spread now +0.019%, 7d avg +0.040%

Together, before fees−0.109%−$11 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: OKX is 0.021% cheaper against Binance than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of +0.040%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance 2ZUSDT	0.05205	0.0100	pay 0.0050% / 4h	3h 40m	$2.1M	$2.4M	50x
Short	OKX 2Z-USDT-SWAP	0.05206	0.0100	get 0.0050% / 4h	3h 40m	$454K	$716K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Binance. 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 BinancebpFee OKXbpOrdersPrice spread, now +0.019%Rate

Funding earned: $0
Price spread: +0.019% → +0.040%: −$2.12
Slippage, 4 orders: −$91.5
Fee Binance: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$113.62
Costs to cover: 1.115%
Break-even: never at this rate

Slippage from Binance: live order book, 10 min ago; OKX: live order book, 31 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 Binance live order book, 10 min ago	1.93 bp	23.6 bp −$24	138.3 bp −$1,383	doesn't fit	doesn't fit
Sell OKX live order book, 31 min ago	4.82 bp	35.1 bp −$35	doesn't fit	doesn't fit	doesn't fit

2Z on 17 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
Backpack 2Z_USDC_PERP	−0.0582%	1h	0.05207	+0.038%	$45K	$32K	5x	as long as short
Kraken Futures PF_2ZUSD	−0.0053%	1h	0.05211	+0.123%	$6K	$3K	10x	as long as short
Injective 2Z/USDC PERP	+0.0033%	1h	0.04980	−4.323%	$867	$213	5.5x	as long as short
Lighter 2Z	+0.0096%	1h	0.05216	+0.211%	$17K	$8K	3x	as long as short
Hyperliquid 2Z	+0.0100%	1h	0.05212	+0.129%	$654K	$410K	3x	as long as short
Aster 2ZUSDT	+0.0100%	4h	0.05210	+0.089%	$12K	$57K	5x	as long as short
Pacifica 2Z	+0.0100%	1h	0.05210	+0.096%	$75K	$14K	3x	as long as short
Binance 2ZUSDTlong	+0.0100%	4h	0.05205	long leg	$2.1M	$2.4M	50x
Bybit 2ZUSDT	+0.0100%	4h	0.05214	+0.173%	$689K	$977K	50x	as long as short
OKX 2Z-USDT-SWAPshort	+0.0100%	4h	0.05206	+0.019%	$454K	$716K	20x

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate 2Z_USDT	+0.0100%	4h	0.05204	−0.019%	$92K	$70K	50x	as long as short
MEXC 2Z_USDT	+0.0100%	4h	0.05212	+0.134%	$304K	$119K	50x	as long as short
KuCoin 2ZUSDTM	+0.0100%	4h	0.05209	+0.071%	$196K	$51K	50x	as long as short
Bitget 2ZUSDT	+0.0100%	4h	0.05203	−0.038%	$148K	$573K	50x	as long as short
BingX 2Z-USDT	+0.0100%	4h	0.05209	+0.077%	—	$6.5M	—	as long as short
Variational Omni 2Z	+0.0100%	4h	0.05205	+0.004%	$33K	$29K	—	as long as short
SunX 2Z-USDT	+0.0100%	4h	0.05209	+0.077%	$2K	$1.3M	20x	as long as short