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: Binance against OKX−0.121%7-day average −0.039% · you buy dearer than you sell

Net, funding: paid 7d − costs−$103as in the Funding arb table

Net, price: spread back to 7d avg − costs−$122as in the Price arb table

costs, in and out, $10k−$1131.133% of the position

Long on OKX Short on Binance

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)+0.110%+$11 · spread now −0.121%, 7d avg −0.039%

Together, before fees+0.213%+$21 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: Binance is 0.082% cheaper against OKX than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of −0.039%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX 2Z-USDT-SWAP	0.05185	0.0100	pay 0.0050% / 4h	2h 05m	$445K	$704K	20x
Short	Binance 2ZUSDT	0.05179	0.0100	get 0.0050% / 4h	2h 05m	$2.1M	$2.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −0.121%Rate

Funding earned: $0
Price spread: −0.121% → −0.039%: −$8.17
Slippage, 4 orders: −$93.33
Fee OKX: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$121.5
Costs to cover: 1.133%
Break-even: never at this rate

Slippage from OKX: live order book, 60 min ago; Binance: live order book, 14 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 OKX live order book, 60 min ago	3.82 bp	27.4 bp −$27	1888.8 bp −$18.9K	doesn't fit	doesn't fit
Sell Binance live order book, 14 min ago	0.96 bp	25.0 bp −$25	129.7 bp −$1,297	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	−0.0553%	1h	0.05181	−0.077%	$45K	$32K	5x	as long as short
Injective 2Z/USDC PERP	+0.0033%	1h	0.04980	−3.954%	$867	$213	5.5x	as long as short
Lighter 2Z	+0.0096%	1h	0.05189	+0.077%	$16K	$8K	3x	as long as short
Hyperliquid 2Z	+0.0100%	1h	0.05183	−0.039%	$662K	$371K	3x	as long as short
Aster 2ZUSDT	+0.0100%	4h	0.05187	+0.031%	$12K	$57K	5x	as long as short
Pacifica 2Z	+0.0100%	1h	0.05183	−0.048%	$75K	$14K	3x	as long as short
Binance 2ZUSDTshort	+0.0100%	4h	0.05179	−0.121%	$2.1M	$2.3M	50x
Bybit 2ZUSDT	+0.0100%	4h	0.05188	+0.058%	$682K	$959K	50x	as long as short
OKX 2Z-USDT-SWAPlong	+0.0100%	4h	0.05185	long leg	$445K	$704K	20x
Gate 2Z_USDT	+0.0100%	4h	0.05181	−0.077%	$90K	$70K	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	0.05188	+0.058%	$294K	$125K	50x	as long as short
KuCoin 2ZUSDTM	+0.0100%	4h	0.05180	−0.095%	$191K	$52K	50x	as long as short
Bitget 2ZUSDT	+0.0100%	4h	0.05179	−0.116%	$145K	$615K	50x	as long as short
BingX 2Z-USDT	+0.0100%	4h	0.05185	0.000%	—	$6.5M	—	as long as short
Variational Omni 2Z	+0.0100%	4h	0.05186	+0.021%	$33K	$29K	—	as long as short
SunX 2Z-USDT	+0.0100%	4h	0.05187	+0.039%	$1K	$1.2M	20x	as long as short
Kraken Futures PF_2ZUSD	+0.1050%	1h	0.05198	+0.245%	$6K	$3K	10x	as long as short