CAP

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0473%/8h= −51.8% APRnext payment −$2.36 per $10,000 · paid last 24h −0.046%

Price spread now: OKX against Bybit−0.022%7-day average −0.129% · you buy dearer than you sell

Net, funding: paid 7d − costs−$137as in the Funding arb table

Net, price: spread back to 7d avg − costs−$95as in the Price arb table

costs, in and out, $10k−$1051.055% of the position

Long on Bybit Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.319%−$32 on $10k

Price spread, last 7 days−1.065%−$106 · spread now −0.022%, 7d avg −0.129%

Together, before fees−1.384%−$138 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.108% dearer against Bybit than usual: you sell high and buy low (spread −0.022% now, against its 7-day average of −0.129%): +$11 on $10k if it goes back. Holding the pair costs −$14 a day in funding at the current rate, which eats that in about 18 hours. At the pace of the last 7 days (−0.319% in total) that is about 2.4 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.319% in total (about -16.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.36 per $10,000. 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	Bybit CAPUSDT	0.04626	0.0100	pay 0.0050% / 4h	2h 06m	$4.5M	$4.1M	10x
Short	OKX CAP-USDT-SWAP	0.04625	−0.0373	pay 0.0186% / 4h	2h 06m	$2.1M	$7.2M	10x

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 −0.022%Rate

Funding earned: −$99.25
Price spread: −0.022% → −0.129%: $10.77
Slippage, 4 orders: −$84.49
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee OKX: 5 bp × 2 orders: −$10
Net: −$193.97
Costs to cover: 1.055%
Break-even: never at this rate

Slippage from Bybit: 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 Bybit live order book, 1 min ago	2.16 bp	35.2 bp −$35	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 1 min ago	1.08 bp	17.8 bp −$18	101.8 bp −$1,018	doesn't fit	doesn't fit

CAP 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
KuCoin CAPUSDTM	−0.0756%	4h	0.04620	−0.130%	$4.4M	$1.4M	10x	as long as short
OKX CAP-USDT-SWAPshort	−0.0373%	4h	0.04625	−0.022%	$2.1M	$7.2M	10x
Bitget CAPUSDT	−0.0024%	4h	0.04622	−0.086%	$1.0M	$588K	10x	as long as short
gTrade (Gains Network) CAP/USD	L 0.0000% / S 0.0000%	1h	0.04623	−0.065%	—	—	150x	as long as short
Lighter CAP	+0.0096%	1h	0.04623	−0.065%	$19K	$2K	3x	as long as short
Aster CAPUSDT	+0.0100%	4h	0.04623	−0.069%	$26K	$66K	5x	as long as short
Binance CAPUSDT	+0.0100%	4h	0.04626	0.000%	$9.0M	$8.8M	10x	as long as short
Bybit CAPUSDTlong	+0.0100%	4h	0.04626	long leg	$4.5M	$4.1M	10x
Gate CAP_USDT	+0.0100%	4h	0.04623	−0.065%	$328K	$1.2M	20x	as long as short
MEXC CAP_USDT	+0.0100%	4h	0.04625	−0.022%	$561K	$237K	20x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX CAP-USDT	+0.0100%	4h	0.04625	−0.022%	—	$1.6M	—	as long as short
Variational Omni CAP	+0.0100%	4h	0.04604	−0.482%	$8K	$8K	—	as long as short
Orderly PERP_CAP_USDC_mythos	+0.0100%	4h	0.04622	−0.078%	$5K	$582	10x	as long as short