Funding arb · Price arb /

DATA

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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 0.000%

Price spread now: Bybit against OKX+0.178%7-day average +0.018% · you sell dearer than you buy

Net, funding: paid 7d − costs−$153as in the Funding arb table

Net, price: spread back to 7d avg − costs−$138as in the Price arb table

costs, in and out, $10k−$1541.541% of the position

Long on OKX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.016%+$2 on $10k

Price spread, last 4 days (all we have)−0.152%−$15 · spread now +0.178%, 7d avg +0.018%

Together, before fees−0.136%−$14 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: Bybit is 0.160% dearer against OKX than usual: you sell high and buy low, +$16 on $10k if it goes back to its 7-day average of +0.018%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX DATA-USDT-SWAP	0.2019	0.0100	pay 0.0050% / 4h	1h 57m	$863K	$1.3M	20x
Short	Bybit DATAUSDT	0.2023	0.0100	get 0.0050% / 4h	1h 57m	$869K	$346K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against OKX. 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 OKXbpFee BybitbpOrdersPrice spread, now +0.178%Rate

Funding earned: $0
Price spread: +0.178% → +0.018%: $16
Slippage, 4 orders: −$133.11
Fee OKX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$138.1
Costs to cover: 1.541%
Break-even: never at this rate

Slippage from OKX: live order book, 4 min ago; Bybit: live order book, 22 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 OKX live order book, 4 min ago	7.43 bp	29.7 bp −$30	199.4 bp −$1,994	doesn't fit	doesn't fit
Sell Bybit live order book, 22 min ago	2.46 bp	66.0 bp −$66	doesn't fit	doesn't fit	doesn't fit

DATA on 9 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
BloFin DATA-USDT	+0.0069%	4h	0.2018	−0.050%	$81K	$5K	20x	as long as short
Lighter DATA	+0.0096%	1h	0.2022	+0.149%	$47K	$129K	10x	as long as short
Bybit DATAUSDTshort	+0.0100%	4h	0.2023	+0.178%	$869K	$346K	20x
OKX DATA-USDT-SWAPlong	+0.0100%	4h	0.2019	long leg	$863K	$1.3M	20x
Gate DATA_USDT	+0.0100%	4h	0.2020	+0.050%	$83K	$10K	20x	as long as short
MEXC DATA_USDT	+0.0100%	4h	0.2020	+0.050%	$92K	$252K	20x	as long as short
KuCoin DATAUSDTM	+0.0100%	4h	0.2021	+0.119%	$155K	$1.0M	30x	as long as short
Bitget DATAUSDT	+0.0100%	4h	0.2023	+0.198%	$512K	$96K	50x	as long as short
Extended DATA-USD	+0.0104%	1h	0.2021	+0.105%	$896	—	5x	as long as short