Funding you earn now, next payment 03:00 UTC−0.3134%/8h= −343.1% APRpaid last 24h −0.602%
Price spread now: OKX against Deribit+0.160%46s7-day average −0.032% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$810.807% of the position
Funding, last 6 days (all we have)−1.586%−$159 on $10k
+Price spread, last 4 days (all we have)−0.167%−$17 · spread now +0.160%, 7d avg −0.032%
=The price spread pays, funding is against you. OKX is 0.192% dearer against Deribit than usual: you sell high and buy low (spread +0.160% now, against its 7-day average of −0.032%): +$19 on $10k if it goes back. Holding the pair costs −$94 a day in funding at the current rate, which eats that in about 5 hours. At the pace of the last 6 days (−1.586% in total) that is about 17 hours. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 6 days it paid -1.586% in total (about -100.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit BILL_USDC-PERPETUAL | 0.01379 | 0.3316 | pay 0.0415% / 1h | 14m 30s | $108K | $14K | 10x |
| Short | OKX BILL-USDT-SWAP | 0.01381 | 0.0183 | get 0.0091% / 4h | 1h 14m | $1.1M | $2.7M | 20x |
Deribit BILL_USDC-PERPETUAL
OKX BILL-USDT-SWAPFunding history
latest
Range statsloading…
Price spread between the two exchanges
OKX against Deribit. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$658.08
- Price spread: +0.160% → −0.032%
- $19.15
- Slippage, 4 orders
- −$63.71
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- −$719.64
- Costs to cover
- 0.807%
- Break-even
- never at this rate
Slippage from Deribit: live order book, 49 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 Deribit live order book, 49 min ago | 12.99 bp | 16.5 bp −$16 | doesn't fit | doesn't fit | doesn't fit |
| Sell OKX live order book, 3 min ago | 3.61 bp | 20.7 bp −$21 | 152.3 bp −$1,523 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Bybit BILLUSDT | +0.0100% | 4h | 0.01380 | +0.087% | $1.3M | $960K | 20x | as long as short |
| Gate BILL_USDT | +0.0100% | 4h | 0.01381 | +0.160% | $278K | $84K | 20x | as long as short |
| Bitget BILLUSDT | +0.0100% | 4h | 0.01381 | +0.160% | $640K | $1.1M | 20x | as long as short |
| Backpack BILL_USDC_PERP | +0.0100% | 1h | 0.01379 | +0.015% | $21K | $939 | 5x | as long as short |
| SunX BILL-USDT | +0.0100% | 4h | 0.01383 | +0.305% | $2K | $1.1M | 20x | as long as short |
| HTX BILL-USDT | +0.0100% | 4h | 0.01376 | −0.203% | $11K | $39K | 20x | as long as short |
| BloFin BILL-USDT | +0.0131% | 4h | 0.01383 | +0.305% | $146K | $19K | 20x | as long as short |
| OKX BILL-USDT-SWAPshort | +0.0183% | 4h | 0.01381 | +0.160% | $1.1M | $2.7M | 20x | |
| Aster BILLUSDT | +0.0245% | 4h | 0.01381 | +0.125% | $2K | $4K | 5x | as long as short |
| BingX BILL-USDT | +0.0442% | 4h | 0.01380 | +0.087% | — | $1.7M | — | as long as short |
Bybit BILLUSDT
Gate BILL_USDT
Bitget BILLUSDT
Backpack BILL_USDC_PERP
SunX BILL-USDT
HTX BILL-USDT
BloFin BILL-USDT
Aster BILLUSDT
BingX BILL-USDTShow all 16 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC BILL_USDT | +0.0444% | 4h | 0.01380 | +0.087% | $1.1M | $338K | 50x | as long as short |
| Binance BILLUSDT | +0.0446% | 4h | 0.01381 | +0.157% | $2.5M | $3.8M | 20x | as long as short |
| Extended BILL-USD | +0.0448% | 1h | 0.01381 | +0.133% | $1K | $222K | 5x | as long as short |
| Coinbase International BILL-PERP-INTX | +0.0688% | 1h | 0.01380 | +0.123% | $46K | $51K | 50x | as long as short |
| KuCoin BILLUSDTM | +0.1834% | 4h | 0.01382 | +0.218% | $459K | $309K | 20x | as long as short |
| Deribit BILL_USDC-PERPETUALlong | +0.3316% | 1h | 0.01379 | long leg | $108K | $14K | 10x |
MEXC BILL_USDT
Binance BILLUSDT
Extended BILL-USD
Coinbase International BILL-PERP-INTX
KuCoin BILLUSDTM