Funding arb · Price arb /

BILL

all BILL 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 +0.017%

Price spread now: OKX against Bybit0.000%7-day average +0.112% · you sell dearer than you buy

Net, funding: paid 7d − costs−$147as in the Funding arb table

Net, price: spread back to 7d avg − costs−$196as in the Price arb table

costs, in and out, $10k−$1851.848% of the position

Long on Bybit Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.373%+$37 on $10k

Price spread, last 7 days+0.026%+$3 · spread now 0.000%, 7d avg +0.112%

Together, before fees+0.399%+$40 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 0.112% cheaper against Bybit than usual: you would sell low and buy high, −$11 on $10k if it goes back to its 7-day average of +0.112%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit BILLUSDT	0.01366	0.0100	pay 0.0050% / 4h	2h 48m	$1.3M	$962K	20x
Short	OKX BILL-USDT-SWAP	0.01366	0.0100	get 0.0050% / 4h	2h 48m	$995K	$2.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Bybit. 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 BybitbpFee OKXbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → +0.112%: −$11.18
Slippage, 4 orders: −$163.75
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee OKX: 5 bp × 2 orders: −$10
Net: −$195.94
Costs to cover: 1.848%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; OKX: live order book, 3 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 Bybit live order book, 2 min ago	7.32 bp	67.6 bp −$68	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 3 min ago	3.65 bp	14.1 bp −$14	127.6 bp −$1,276	doesn't fit	doesn't fit

BILL on 16 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
Aster BILLUSDT	+0.0100%	4h	0.01370	+0.280%	$2K	$4K	5x	as long as short
Bybit BILLUSDTlong	+0.0100%	4h	0.01366	long leg	$1.3M	$962K	20x
OKX BILL-USDT-SWAPshort	+0.0100%	4h	0.01366	0.000%	$995K	$2.6M	20x
Gate BILL_USDT	+0.0100%	4h	0.01368	+0.146%	$276K	$76K	20x	as long as short
Bitget BILLUSDT	+0.0100%	4h	0.01368	+0.146%	$624K	$925K	20x	as long as short
SunX BILL-USDT	+0.0100%	4h	0.01370	+0.293%	$1K	$1.1M	20x	as long as short
BloFin BILL-USDT	+0.0145%	4h	0.01369	+0.220%	$146K	$19K	20x	as long as short
BingX BILL-USDT	+0.0194%	4h	0.01368	+0.146%	—	$1.7M	—	as long as short
MEXC BILL_USDT	+0.0206%	4h	0.01367	+0.073%	$1.0M	$330K	50x	as long as short
Extended BILL-USD	+0.0208%	1h	0.01367	+0.049%	$2K	$227K	5x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance BILLUSDT	+0.0218%	4h	0.01367	+0.073%	$2.4M	$3.7M	20x	as long as short
Backpack BILL_USDC_PERP	+0.0552%	1h	0.01366	0.000%	$21K	$941	5x	as long as short
HTX BILL-USDT	+0.0557%	4h	0.01371	+0.366%	$17K	$8K	20x	as long as short
Coinbase International BILL-PERP-INTX	+0.0632%	1h	0.01364	−0.161%	$46K	$99K	50x	as long as short
KuCoin BILLUSDTM	+0.0864%	4h	0.01368	+0.161%	$441K	$292K	20x	as long as short
Deribit BILL_USDC-PERPETUAL	+0.2242%	1h	0.01368	+0.132%	$107K	$14K	10x	as long as short