Funding arb · Price arb /

INIT

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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: OKX against Bitget−0.073%7-day average +0.032% · you buy dearer than you sell

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−$1751.746% of the position

Long on Bitget Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)+0.142%+$14 · spread now −0.073%, 7d avg +0.032%

Together, before fees+0.142%+$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: OKX is 0.105% cheaper against Bitget than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of +0.032%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget INITUSDT	0.08192	0.0100	pay 0.0050% / 4h	36m 58s	$428K	$310K	25x
Short	OKX INIT-USDT-SWAP	0.08186	0.0100	get 0.0050% / 4h	36m 58s	$133K	$633K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Bitget. 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 BitgetbpFee OKXbpOrdersPrice spread, now −0.073%Rate

Funding earned: $0
Price spread: −0.073% → +0.032%: −$10.47
Slippage, 4 orders: −$152.55
Fee Bitget: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$185.03
Costs to cover: 1.746%
Break-even: never at this rate

Slippage from Bitget: live order book, 34 min ago; OKX: live order book, 39 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 Bitget live order book, 34 min ago	11.02 bp	40.0 bp −$40	221.3 bp −$2,213	doesn't fit	doesn't fit
Sell OKX live order book, 39 min ago	4.90 bp	41.6 bp −$42	doesn't fit	doesn't fit	doesn't fit

INIT 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
BloFin INIT-USDT	+0.0099%	4h	0.08207	+0.183%	$153K	$110K	25x	as long as short
Hyperliquid INIT	+0.0100%	1h	0.08184	−0.094%	$298K	$233K	3x	as long as short
Aster INITUSDT	+0.0100%	4h	0.08199	+0.085%	$27K	$36K	5x	as long as short
Binance INITUSDT	+0.0100%	4h	0.08191	−0.015%	$3.4M	$3.6M	25x	as long as short
Bybit INITUSDT	+0.0100%	4h	0.08190	−0.024%	$1.4M	$1.4M	25x	as long as short
OKX INIT-USDT-SWAPshort	+0.0100%	4h	0.08186	−0.073%	$133K	$633K	10x
Gate INIT_USDT	+0.0100%	8h	0.08197	+0.061%	$83K	$56K	25x	as long as short
MEXC INIT_USDT	+0.0100%	4h	0.08189	−0.037%	$445K	$219K	20x	as long as short
KuCoin INITUSDTM	+0.0100%	4h	0.08197	+0.061%	$326K	$54K	25x	as long as short
Bitget INITUSDTlong	+0.0100%	4h	0.08192	long leg	$428K	$310K	25x

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX INIT-USDT	+0.0100%	4h	0.08193	+0.012%	—	$6.6M	—	as long as short
Variational Omni INIT	+0.0100%	4h	0.08218	+0.323%	$26K	$23K	—	as long as short
Kraken Futures PF_INITUSD	+0.0497%	1h	0.08191	−0.008%	$5K	$17K	10x	as long as short