Funding arb · Price arb /

BILL

all BILL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0554%/8h= +60.7% APRpaid last 24h +0.183%

Price spread now: Coinbase International against OKX−0.036%7-day average — · you buy dearer than you sell

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

Long on OKX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.770%+$77 on $10k

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. Coinbase International is 0.036% cheaper against OKX than usual: you would sell low and buy high (spread −0.036% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 5 hours of funding at the current rate (+$17 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX BILL-USDT-SWAP	0.01382	0.0134	pay 0.0067% / 4h	26m 56s	$1.1M	$2.8M	20x
Short	Coinbase International BILL-PERP-INTX	0.01381	0.0688	get 0.0086% / 1h	26m 56s	$66K	$72K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against OKX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Coinbase InternationalbpOrdersPrice spread, now −0.036%Rate

Funding earned: $116.33
Price spread: −0.036% → 0.000%: −$3.62
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $92.71
Costs to cover: 0.200%
Break-even: 1.4 days

Slippage unknown: OKX: live order book, 5 min ago; Coinbase International: no order-book sample. 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 OKX live order book, 5 min ago	3.62 bp	29.6 bp −$30	617.4 bp −$6,174	doesn't fit	doesn't fit
Sell Coinbase International no order-book sample	—	—	—	—	—

Coinbase International: 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.

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	−0.145%	$1.3M	$996K	20x	as long as short
Gate BILL_USDT	+0.0100%	4h	0.01382	0.000%	$278K	$86K	20x	as long as short
Bitget BILLUSDT	+0.0100%	4h	0.01382	0.000%	$647K	$1.1M	20x	as long as short
Backpack BILL_USDC_PERP	+0.0100%	1h	0.01382	0.000%	$21K	$951	5x	as long as short
SunX BILL-USDT	+0.0100%	4h	0.01386	+0.289%	$2K	$1.1M	20x	as long as short
HTX BILL-USDT	+0.0100%	4h	0.01379	−0.217%	$11K	$39K	20x	as long as short
OKX BILL-USDT-SWAPlong	+0.0134%	4h	0.01382	long leg	$1.1M	$2.8M	20x
BloFin BILL-USDT	+0.0142%	4h	0.01381	−0.072%	$145K	$19K	20x	as long as short
Aster BILLUSDT	+0.0154%	4h	0.01383	+0.048%	$2K	$4K	5x	as long as short
Extended BILL-USD	+0.0280%	1h	0.01381	−0.100%	$2K	$220K	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	+0.0283%	4h	0.01381	−0.072%	$2.5M	$3.9M	20x	as long as short
MEXC BILL_USDT	+0.0286%	4h	0.01383	+0.072%	$1.1M	$341K	50x	as long as short
BingX BILL-USDT	+0.0286%	4h	0.01383	+0.072%	—	$1.7M	—	as long as short
Coinbase International BILL-PERP-INTXshort	+0.0688%	1h	0.01381	−0.036%	$66K	$72K	50x
KuCoin BILLUSDTM	+0.1342%	4h	0.01383	+0.072%	$460K	$314K	20x	as long as short
Deribit BILL_USDC-PERPETUAL	+0.2066%	1h	0.01385	+0.203%	$108K	$14K	10x	as long as short