Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.147%

Price spread now: OKX against Bybit+0.148%7-day average +0.075% · you sell dearer than you buy

Net, funding: paid 7d − costs−$92as in the Funding arb table

Net, price: spread back to 7d avg − costs−$126as in the Price arb table

costs, in and out, $10k−$1331.333% of the position

Long on Bybit Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.411%+$41 on $10k

Price spread, last 7 days+0.032%+$3 · spread now +0.148%, 7d avg +0.075%

Together, before fees+0.443%+$44 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 0.072% dearer against Bybit than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of +0.075%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit CPUSDT	0.01354	0.0100	pay 0.0050% / 4h	1h 21m	$1.5M	$2.3M	20x
Short	OKX CP-USDT-SWAP	0.01356	0.0100	get 0.0050% / 4h	1h 21m	$3.7M	$10.6M	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 +0.148%Rate

Funding earned: $0
Price spread: +0.148% → +0.075%: $7.23
Slippage, 4 orders: −$112.29
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee OKX: 5 bp × 2 orders: −$10
Net: −$126.06
Costs to cover: 1.333%
Break-even: never at this rate

Slippage from Bybit: live order book, 5 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, 5 min ago	3.70 bp	48.2 bp −$48	466.4 bp −$4,664	doesn't fit	doesn't fit
Sell OKX live order book, 1 min ago	3.70 bp	22.4 bp −$22	141.3 bp −$1,413	doesn't fit	doesn't fit

CP on 8 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
BingX CP-USDT	+0.0070%	4h	0.01356	+0.148%	—	$1.0M	—	as long as short
BloFin CP-USDT	+0.0092%	4h	0.01354	0.000%	$413	$36K	20x	as long as short
Bybit CPUSDTlong	+0.0100%	4h	0.01354	long leg	$1.5M	$2.3M	20x
OKX CP-USDT-SWAPshort	+0.0100%	4h	0.01356	+0.148%	$3.7M	$10.6M	20x
Gate CP_USDT	+0.0100%	4h	0.01353	−0.074%	$562K	$504K	20x	as long as short
MEXC CP_USDT	+0.0100%	4h	0.01354	0.000%	$1.5M	$368K	20x	as long as short
KuCoin CPUSDTM	+0.0100%	4h	0.01357	+0.222%	$201K	$949K	20x	as long as short
Bitget CPUSDT	+0.0100%	4h	0.01354	+0.037%	$774K	$1.5M	20x	as long as short