Funding arb · Price arb /

ARB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0365%/8h= −40.0% APRpaid last 24h −0.114%

Price spread now: OKX against Coinbase International+0.112%7-day average −0.207% · you sell dearer than you buy

Net, funding: paid 7d − costs−$118as in the Funding arb table

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$750.745% of the position

Long on Coinbase International Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.433%−$43 on $10k

Price spread, last 3 days (all we have)−1.642%−$164 · spread now +0.112%, 7d avg −0.207%

Together, before fees−2.075%−$207 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.319% dearer against Coinbase International than usual: you sell high and buy low (spread +0.112% now, against its 7-day average of −0.207%): +$32 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 2.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International ARB-PERP-INTX	0.2240	0.0288	pay 0.0036% / 1h	32m 48s	$500K	$2.5M	50x
Short	OKX ARB-USDT-SWAP	0.2243	−0.0077	pay 0.0077% / 8h	2h 32m	$22.3M	$166.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Coinbase International. 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 Coinbase InternationalbpFee OKXbpOrdersPrice spread, now +0.112%Rate

Funding earned: −$76.68
Price spread: +0.112% → −0.207%: $31.87
Slippage, 4 orders: −$54.55
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$119.36
Costs to cover: 0.745%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 1 min ago; OKX: live order book, 1 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 Coinbase International live order book, 1 min ago	8.47 bp	28.9 bp −$29	45.8 bp −$458	doesn't fit	doesn't fit
Sell OKX live order book, 1 min ago	0.22 bp	10.4 bp −$10	30.9 bp −$309	doesn't fit	doesn't fit

ARB on 36 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
Injective ARB/USDC PERP	−0.1675%	1h	0.2223	−0.777%	$40K	$197K	12x	as long as short
01 Exchange ARBUSD	−0.0296%	1h	0.2242	+0.080%	$7K	$2K	10x	as long as short
Bybit ARBUSDT	−0.0201%	8h	0.2243	+0.134%	$56.6M	$136.3M	50x	as long as short
Deribit ARB_USDC-PERPETUAL	−0.0196%	1h	0.2244	+0.143%	$37K	$18K	25x	as long as short
Variational Omni ARB	−0.0178%	8h	0.2229	−0.488%	$1.9M	$2.8M	—	as long as short
OKX ARB-USDT-SWAPshort	−0.0077%	8h	0.2243	+0.112%	$22.3M	$166.3M	50x
MEXC ARB_USDT	−0.0075%	8h	0.2241	+0.045%	$37.7M	$63.4M	200x	as long as short
SoDEX ARB-USD	−0.0053%	1h	0.2241	+0.027%	$4K	$2.9M	5x	as long as short
Kraken Futures PF_ARBUSD	−0.0053%	1h	0.2242	+0.093%	$1.1M	$5.3M	50x	as long as short
Orderly PERP_ARB_USDC	−0.0012%	8h	0.2242	+0.071%	$10K	$387K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps ARB-USD	−0.0003%	1h	0.2244	+0.165%	$77K	$2.3M	10x	as long as short
dYdX ARB-USD	0.0000%	1h	0.2241	+0.044%	$66K	$4K	10x	as long as short
gTrade (Gains Network) ARB/USD	L +0.0005% / S −0.0005%	1h	0.2244	+0.170%	$55K	—	150x	as long as short
Extended ARB-USD	+0.0008%	1h	0.2241	+0.010%	$357K	$2.5M	25x	as long as short
Gate ARB_USDT	+0.0008%	8h	0.2243	+0.116%	$5.5M	$21.6M	60x	as long as short
Binance ARBUSDT	+0.0010%	8h	0.2244	+0.152%	$63.8M	$325.9M	75x	as long as short
BloFin ARB-USDT	+0.0042%	8h	0.2241	+0.009%	$3.0M	$3.3M	75x	as long as short
Aevo ARB-PERP	+0.0080%	1h	0.2244	+0.156%	$147K	$12K	3x	as long as short
BingX ARB-USDT	+0.0084%	8h	0.2242	+0.085%	—	$54.0M	—	as long as short
Bitget ARBUSDT	+0.0085%	8h	0.2243	+0.116%	$21.1M	$38.7M	50x	as long as short
Lighter ARB	+0.0096%	1h	0.2245	+0.201%	$1.3M	$7.7M	15x	as long as short
Hyperliquid ARB	+0.0100%	1h	0.2247	+0.277%	$40.2M	$53.1M	10x	as long as short
Aster ARBUSDT	+0.0100%	8h	0.2241	+0.047%	$697K	$1.8M	20x	as long as short
Pacifica ARB	+0.0100%	1h	0.2240	−0.023%	$46K	$205K	10x	as long as short
KuCoin ARBUSDTM	+0.0100%	8h	0.2242	+0.089%	$20.7M	$17.1M	75x	as long as short
edgeX ARBUSDC	+0.0100%	4h	0.2236	−0.195%	$36K	$452K	20x	as long as short
GRVT ARB_USDT_Perp	+0.0100%	8h	0.2237	−0.155%	$483K	$4.1M	10x	as long as short
ApeX Omni ARBUSDT	+0.0100%	1h	0.2235	−0.241%	$121K	$297K	50x	as long as short
SunX ARB-USDT	+0.0100%	8h	0.2245	+0.205%	$1K	$1.1M	30x	as long as short
HTX ARB-USDT	+0.0100%	8h	0.2244	+0.174%	$276K	$1.2M	50x	as long as short
Phemex ARBUSDT	+0.0100%	8h	0.2243	+0.116%	$5.3M	$13.8M	50x	as long as short
GMX ARB/USD [ARB-USDC]	L +0.0276% / S −0.0168%	1h	0.2245	+0.187%	$823K	—	150x	as long as short
Coinbase International ARB-PERP-INTXlong	+0.0288%	1h	0.2240	long leg	$500K	$2.5M	50x
Reya ARBRUSDPERP	+0.0291%	1h	0.2244	+0.140%	$2K	$695	20x	as long as short
RISEx ARB/USDC	+0.0546%	1h	0.2244	+0.181%	$493K	$2.9M	10x	as long as short
Backpack ARB_USDC_PERP	+0.0564%	1h	0.2246	+0.250%	$1.1M	$2.7M	20x	as long as short