Funding arb · Price arb /

H

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bybit against OKX−0.255%7-day average −0.211% · you buy dearer than you sell

Net, funding: paid 7d − costs−$148as in the Funding arb table

Net, price: spread back to 7d avg − costs−$148as in the Price arb table

costs, in and out, $10k−$1441.439% of the position

Long on OKX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.045%−$5 on $10k

Price spread, last 7 days+0.044%+$4 · spread now −0.255%, 7d avg −0.211%

Together, before fees−0.001%$0 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 0.044% cheaper against OKX than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.211%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX H-USDT-SWAP	0.06788	0.0100	pay 0.0050% / 4h	3h 40m	$1.7M	$6.2M	10x
Short	Bybit HUSDT	0.06771	0.0100	get 0.0050% / 4h	3h 40m	$7.4M	$4.8M	13x

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 −0.255%Rate

Funding earned: $0
Price spread: −0.255% → −0.211%: −$4.39
Slippage, 4 orders: −$122.87
Fee OKX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$148.26
Costs to cover: 1.439%
Break-even: never at this rate

Slippage from OKX: live order book, 3 min ago; Bybit: live order book, 3 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, 3 min ago	0.73 bp	40.1 bp −$40	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	0.74 bp	35.1 bp −$35	127.3 bp −$1,273	doesn't fit	doesn't fit

H on 14 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
Injective H/USDC PERP	+0.0033%	1h	0.06250	−7.926%	$1K	$1	5.5x	as long as short
BloFin H-USDT	+0.0080%	4h	0.06779	−0.133%	$590K	$102K	25x	as long as short
Aster HUSDT	+0.0100%	4h	0.06784	−0.064%	$109K	$55K	5x	as long as short
Binance HUSDT	+0.0100%	4h	0.06784	−0.064%	$14.4M	$10.5M	10x	as long as short
Bybit HUSDTshort	+0.0100%	4h	0.06771	−0.255%	$7.4M	$4.8M	13x
OKX H-USDT-SWAPlong	+0.0100%	4h	0.06788	long leg	$1.7M	$6.2M	10x
Gate H_USDT	+0.0100%	4h	0.06767	−0.309%	$2.8M	$1.7M	10x	as long as short
MEXC H_USDT	+0.0100%	4h	0.06782	−0.088%	$6.1M	$1.2M	20x	as long as short
KuCoin HUSDTM	+0.0100%	4h	0.06781	−0.103%	$1.6M	$10.1M	8x	as long as short
Bitget HUSDT	+0.0100%	4h	0.06777	−0.162%	$1.7M	$412K	4x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX H-USDT	+0.0100%	4h	0.06783	−0.074%	—	$2.7M	—	as long as short
Variational Omni H	+0.0100%	4h	0.06789	+0.013%	$9K	$3K	—	as long as short
GRVT H_USDT_Perp	+0.0100%	4h	0.06823	+0.516%	$1.1M	$423K	10x	as long as short
Extended H-USD	+0.0104%	1h	0.06782	−0.091%	$11K	$206K	5x	as long as short