Funding arb · Price arb /

2Z

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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 Bitget−0.038%7-day average −0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs−$129as in the Funding arb table

Net, price: spread back to 7d avg − costs−$118as in the Price arb table

costs, in and out, $10k−$1161.157% of the position

Long on Bitget Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.133%−$13 on $10k

Price spread, last 4 days (all we have)−0.013%−$1 · spread now −0.038%, 7d avg −0.012%

Together, before fees−0.146%−$15 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 0.026% cheaper against Bitget than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.012%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget 2ZUSDT	0.05240	0.0100	pay 0.0050% / 4h	2h 00m	$154K	$647K	50x
Short	OKX 2Z-USDT-SWAP	0.05238	0.0100	get 0.0050% / 4h	2h 00m	$444K	$715K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Bitget. 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 BitgetbpFee OKXbpOrdersPrice spread, now −0.038%Rate

Funding earned: $0
Price spread: −0.038% → −0.012%: −$2.59
Slippage, 4 orders: −$93.74
Fee Bitget: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$118.33
Costs to cover: 1.157%
Break-even: never at this rate

Slippage from Bitget: live order book, 45 min ago; OKX: live order book, 46 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 Bitget live order book, 45 min ago	9.59 bp	25.4 bp −$25	135.9 bp −$1,359	doesn't fit	doesn't fit
Sell OKX live order book, 46 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	−0.0902%	1h	0.05234	−0.115%	$45K	$20K	5x	as long as short
Injective 2Z/USDC PERP	+0.0033%	1h	0.04980	−4.962%	$867	$213	5.5x	as long as short
Lighter 2Z	+0.0096%	1h	0.05247	+0.134%	$17K	$6K	3x	as long as short
Hyperliquid 2Z	+0.0100%	1h	0.05241	+0.025%	$658K	$350K	3x	as long as short
Aster 2ZUSDT	+0.0100%	4h	0.05243	+0.050%	$12K	$57K	5x	as long as short
Pacifica 2Z	+0.0100%	1h	0.05243	+0.059%	$76K	$15K	3x	as long as short
Binance 2ZUSDT	+0.0100%	4h	0.05238	−0.035%	$2.1M	$2.1M	50x	as long as short
Bybit 2ZUSDT	+0.0100%	4h	0.05240	0.000%	$713K	$948K	50x	as long as short
OKX 2Z-USDT-SWAPshort	+0.0100%	4h	0.05238	−0.038%	$444K	$715K	20x
Gate 2Z_USDT	+0.0100%	4h	0.05236	−0.076%	$90K	$65K	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	0.05244	+0.076%	$341K	$134K	50x	as long as short
KuCoin 2ZUSDTM	+0.0100%	4h	0.05245	+0.088%	$180K	$52K	50x	as long as short
Bitget 2ZUSDTlong	+0.0100%	4h	0.05240	long leg	$154K	$647K	50x
BingX 2Z-USDT	+0.0100%	4h	0.05240	0.000%	—	$6.5M	—	as long as short
Variational Omni 2Z	+0.0100%	4h	0.05242	+0.029%	$33K	$23K	—	as long as short
SunX 2Z-USDT	+0.0100%	4h	0.05244	+0.076%	$2K	$1.1M	20x	as long as short
Kraken Futures PF_2ZUSD	+0.0511%	1h	0.05214	−0.506%	$5K	$3K	10x	as long as short