Funding arb · Price arb /

ATH

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0102%/8h= +11.2% APRpaid last 24h +0.029%

Price spread now: OKX against dYdX−0.491%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on dYdX Short on OKX

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. OKX is 0.491% cheaper against dYdX than usual: you would sell low and buy high (spread −0.491% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$49 on $10k: about 16 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX ATH-USD	0.005569	−0.0011	get 0.0001% / 1h	34m 45s	$11K	$16	5x
Short	OKX ATH-USDT-SWAP	0.005542	0.0091	get 0.0046% / 4h	1h 34m	$706K	$1.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against dYdX. 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 dYdXbpFee OKXbpOrdersPrice spread, now −0.491%Rate

Funding earned: $21.52
Price spread: −0.491% → 0.000%: −$49.08
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$47.55
Costs to cover: 0.200%
Break-even: 22.5 days

Slippage unknown: dYdX: no order-book sample; OKX: live order book, 2 min ago. Net counts fees only.

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 dYdX no order-book sample	—	—	—	—	—
Sell OKX live order book, 2 min ago	7.20 bp	34.6 bp −$35	doesn't fit	doesn't fit	doesn't fit

dYdX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

ATH on 13 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
Kraken Futures PF_ATHUSD	−0.4655%	1h	0.005544	−0.451%	$19K	$106K	10x	as long as short
Variational Omni ATH	−0.0012%	4h	0.005564	−0.089%	$187K	$93K	—	as long as short
dYdX ATH-USDlong	−0.0011%	1h	0.005569	long leg	$11K	$16	5x
OKX ATH-USDT-SWAPshort	+0.0091%	4h	0.005542	−0.491%	$706K	$1.2M	20x
BloFin ATH-USDT	+0.0099%	4h	0.005578	+0.156%	$173K	$61K	75x	as long as short
Aster ATHUSDT	+0.0100%	4h	0.005556	−0.235%	$6K	$37K	5x	as long as short
Binance ATHUSDT	+0.0100%	4h	0.005557	−0.221%	$3.4M	$3.9M	50x	as long as short
Bybit ATHUSDT	+0.0100%	4h	0.005549	−0.365%	$4.5M	$2.3M	25x	as long as short
Gate ATH_USDT	+0.0100%	4h	0.005548	−0.383%	$792K	$519K	30x	as long as short
MEXC ATH_USDT	+0.0100%	4h	0.005560	−0.168%	$8.9M	$653K	50x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin ATHUSDTM	+0.0100%	4h	0.005562	−0.132%	$570K	$78K	30x	as long as short
Bitget ATHUSDT	+0.0100%	4h	0.005555	−0.257%	$1.6M	$799K	25x	as long as short
BingX ATH-USDT	+0.0100%	4h	0.005550	−0.347%	—	$22.0M	—	as long as short