Funding arb · Price arb /

2Z

all 2Z markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: OKX against BingX+0.096%7-day average −0.026% · you sell dearer than you buy

Net, funding: paid 7d − costs−$137as in the Funding arb table

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

costs, in and out, $10k−$1261.258% of the position

Long on BingX Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.111%−$11 on $10k

Price spread, last 4 days (all we have)−0.158%−$16 · spread now +0.096%, 7d avg −0.026%

Together, before fees−0.268%−$27 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 0.123% dearer against BingX than usual: you sell high and buy low, +$12 on $10k if it goes back to its 7-day average of −0.026%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX 2Z-USDT	0.05183	0.0100	pay 0.0050% / 4h	2h 38m	—	$6.5M	—
Short	OKX 2Z-USDT-SWAP	0.05188	0.0100	get 0.0050% / 4h	2h 38m	$441K	$691K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against BingX. 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 BingXbpFee OKXbpOrdersPrice spread, now +0.096%Rate

Funding earned: $0
Price spread: +0.096% → −0.026%: $12.28
Slippage, 4 orders: −$105.8
Fee BingX: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$113.52
Costs to cover: 1.258%
Break-even: never at this rate

Slippage from BingX: live order book, 7 min ago; OKX: live order book, 7 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 BingX live order book, 7 min ago	5.75 bp	32.2 bp −$32	98.6 bp −$986	844.5 bp −$84.4K	1133.8 bp −$566.9K
Sell OKX live order book, 7 min ago	3.83 bp	34.6 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	−0.0863%	1h	0.05180	−0.058%	$45K	$20K	5x	as long as short
Injective 2Z/USDC PERP	+0.0033%	1h	0.04980	−3.917%	$867	$213	5.5x	as long as short
Lighter 2Z	+0.0096%	1h	0.05191	+0.154%	$16K	$6K	3x	as long as short
Hyperliquid 2Z	+0.0100%	1h	0.05184	+0.019%	$653K	$350K	3x	as long as short
Aster 2ZUSDT	+0.0100%	4h	0.05189	+0.108%	$12K	$57K	5x	as long as short
Pacifica 2Z	+0.0100%	1h	0.05170	−0.251%	$74K	$15K	3x	as long as short
Binance 2ZUSDT	+0.0100%	4h	0.05186	+0.059%	$2.1M	$2.0M	50x	as long as short
Bybit 2ZUSDT	+0.0100%	4h	0.05189	+0.116%	$707K	$943K	50x	as long as short
OKX 2Z-USDT-SWAPshort	+0.0100%	4h	0.05188	+0.096%	$441K	$691K	20x
Gate 2Z_USDT	+0.0100%	4h	0.05179	−0.077%	$90K	$60K	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC 2Z_USDT	+0.0100%	4h	0.05190	+0.135%	$322K	$126K	50x	as long as short
KuCoin 2ZUSDTM	+0.0100%	4h	0.05188	+0.096%	$178K	$51K	50x	as long as short
Bitget 2ZUSDT	+0.0100%	4h	0.05185	+0.039%	$147K	$635K	50x	as long as short
BingX 2Z-USDTlong	+0.0100%	4h	0.05183	long leg	—	$6.5M	—
Variational Omni 2Z	+0.0100%	4h	0.05200	+0.322%	$33K	$23K	—	as long as short
SunX 2Z-USDT	+0.0100%	4h	0.05189	+0.116%	$1K	$1.1M	20x	as long as short
Kraken Futures PF_2ZUSD	+0.0517%	1h	0.05153	−0.570%	$5K	$3K	10x	as long as short