Funding arb · Price arb /

CP

all CP 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 0.000%

Price spread now: OKX against Gate+0.367%7-day average +0.134% · you sell dearer than you buy

Net, funding: paid 7d − costs−$118as in the Funding arb table

Net, price: spread back to 7d avg − costs−$115as in the Price arb table

costs, in and out, $10k−$1381.378% of the position

Long on Gate Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.202%+$20 on $10k

Price spread, last 4 days (all we have)−0.335%−$34 · spread now +0.367%, 7d avg +0.134%

Together, before fees−0.133%−$13 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 0.232% dearer against Gate than usual: you sell high and buy low, +$23 on $10k if it goes back to its 7-day average of +0.134%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate CP_USDT	0.01364	0.0100	pay 0.0050% / 4h	3h 41m	$560K	$509K	20x
Short	OKX CP-USDT-SWAP	0.01369	0.0100	get 0.0050% / 4h	3h 41m	$3.8M	$10.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Gate. 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 GatebpFee OKXbpOrdersPrice spread, now +0.367%Rate

Funding earned: $0
Price spread: +0.367% → +0.134%: $23.23
Slippage, 4 orders: −$112.82
Fee Gate: 7.5 bp × 2 orders: −$15
Fee OKX: 5 bp × 2 orders: −$10
Net: −$114.59
Costs to cover: 1.378%
Break-even: never at this rate

Slippage from Gate: live order book, 29 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 Gate live order book, 29 min ago	11.03 bp	45.2 bp −$45	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 1 min ago	3.66 bp	24.9 bp −$25	136.3 bp −$1,363	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	0.01368	+0.293%	—	$1.0M	—	as long as short
Bybit CPUSDT	+0.0100%	4h	0.01369	+0.367%	$1.5M	$2.3M	20x	as long as short
OKX CP-USDT-SWAPshort	+0.0100%	4h	0.01369	+0.367%	$3.8M	$10.7M	20x
Gate CP_USDTlong	+0.0100%	4h	0.01364	long leg	$560K	$509K	20x
MEXC CP_USDT	+0.0100%	4h	0.01366	+0.147%	$1.5M	$364K	20x	as long as short
KuCoin CPUSDTM	+0.0100%	4h	0.01368	+0.293%	$191K	$917K	20x	as long as short
Bitget CPUSDT	+0.0100%	4h	0.01367	+0.205%	$788K	$1.5M	20x	as long as short
BloFin CP-USDT	+0.0157%	4h	0.01363	−0.073%	$416	$37K	20x	as long as short