Funding arb · Price arb /

FOGO

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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 +0.018%

Price spread now: Bitget against OKX+0.086%7-day average +0.145% · you sell dearer than you buy

Net, funding: paid 7d − costs−$175as in the Funding arb table

Net, price: spread back to 7d avg − costs−$185as in the Price arb table

costs, in and out, $10k−$1791.790% of the position

Long on OKX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.044%+$4 on $10k

Price spread, last 4 days (all we have)+0.077%+$8 · spread now +0.086%, 7d avg +0.145%

Together, before fees+0.121%+$12 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: Bitget is 0.059% cheaper against OKX than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of +0.145%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX FOGO-USDT-SWAP	0.006964	0.0100	pay 0.0050% / 4h	3m 11s	$531K	$869K	10x
Short	Bitget FOGOUSDT	0.006970	0.0100	get 0.0050% / 4h	3m 11s	$135K	$64K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.086%Rate

Funding earned: $0
Price spread: +0.086% → +0.145%: −$5.92
Slippage, 4 orders: −$157.04
Fee OKX: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$184.96
Costs to cover: 1.790%
Break-even: never at this rate

Slippage from OKX: live order book, 53 min ago; Bitget: live order book, 46 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, 53 min ago	4.34 bp	36.1 bp −$36	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 46 min ago	7.29 bp	54.4 bp −$54	362.3 bp −$3,623	doesn't fit	doesn't fit

FOGO 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
Lighter FOGO	+0.0096%	1h	0.006985	+0.302%	$11K	$10K	3x	as long as short
Hyperliquid FOGO	+0.0100%	1h	0.006969	+0.072%	$710K	$292K	3x	as long as short
Aster FOGOUSDT	+0.0100%	4h	0.006965	+0.007%	$13K	$12K	5x	as long as short
Binance FOGOUSDT	+0.0100%	4h	0.006976	+0.170%	$1.9M	$2.1M	50x	as long as short
Bybit FOGOUSDT	+0.0100%	4h	0.006967	+0.043%	$760K	$200K	50x	as long as short
OKX FOGO-USDT-SWAPlong	+0.0100%	4h	0.006964	long leg	$531K	$869K	10x
Gate FOGO_USDT	+0.0100%	4h	0.006960	−0.057%	$112K	$54K	50x	as long as short
MEXC FOGO_USDT	+0.0100%	4h	0.006976	+0.172%	$320K	$125K	50x	as long as short
KuCoin FOGOUSDTM	+0.0100%	4h	0.006960	−0.057%	$286K	$93K	50x	as long as short
Bitget FOGOUSDTshort	+0.0100%	4h	0.006970	+0.086%	$135K	$64K	25x

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX FOGO-USDT	+0.0100%	4h	0.006949	−0.215%	—	$1.3M	—	as long as short
Variational Omni FOGO	+0.0100%	4h	0.006946	−0.254%	$97K	$2K	—	as long as short
SunX FOGO-USDT	+0.0100%	4h	0.006960	−0.057%	$2K	$1.2M	20x	as long as short