Funding arb · Price arb /

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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 0.000%

Price spread now: OKX against Bitget+0.039%7-day average −0.073% · you sell dearer than you buy

Net, funding: paid 7d − costs−$103as in the Funding arb table

Net, price: spread back to 7d avg − costs−$91as in the Price arb table

costs, in and out, $10k−$1021.023% of the position

Long on Bitget Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.005%$0 on $10k

Price spread, last 4 days (all we have)−0.056%−$6 · spread now +0.039%, 7d avg −0.073%

Together, before fees−0.060%−$6 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 0.112% dearer against Bitget than usual: you sell high and buy low, +$11 on $10k if it goes back to its 7-day average of −0.073%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget LAYERUSDT	0.07693	0.0100	pay 0.0050% / 4h	3h 49m	$1.1M	$166K	50x
Short	OKX LAYER-USDT-SWAP	0.07696	0.0100	get 0.0050% / 4h	3h 49m	$708K	$695K	20x

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 +0.039%Rate

Funding earned: $0
Price spread: +0.039% → −0.073%: $11.16
Slippage, 4 orders: −$80.34
Fee Bitget: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$91.18
Costs to cover: 1.023%
Break-even: never at this rate

Slippage from Bitget: live order book, 2 min ago; OKX: 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 Bitget live order book, 2 min ago	7.81 bp	25.7 bp −$26	142.1 bp −$1,421	doesn't fit	doesn't fit
Sell OKX live order book, 22 min ago	3.25 bp	25.8 bp −$26	doesn't fit	doesn't fit	doesn't fit

LAYER 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
Kraken Futures PF_LAYERUSD	−0.0784%	1h	0.07701	+0.102%	$8K	$964	10x	as long as short
Injective LAYER/USDC PERP	+0.0033%	1h	0.07274	−5.447%	—	$18K	5.5x	as long as short
BloFin LAYER-USDT	+0.0092%	4h	0.07685	−0.104%	$113K	$14K	50x	as long as short
Hyperliquid LAYER	+0.0100%	1h	0.07705	+0.152%	$595K	$168K	3x	as long as short
Aster LAYERUSDT	+0.0100%	4h	0.07693	−0.002%	$9K	$3K	5x	as long as short
Binance LAYERUSDT	+0.0100%	4h	0.07694	+0.008%	$2.1M	$2.4M	50x	as long as short
OKX LAYER-USDT-SWAPshort	+0.0100%	4h	0.07696	+0.039%	$708K	$695K	20x
Gate LAYER_USDT	+0.0100%	4h	0.07696	+0.039%	$137K	$52K	20x	as long as short
MEXC LAYER_USDT	+0.0100%	4h	0.07693	0.000%	$341K	$115K	20x	as long as short
Bitget LAYERUSDTlong	+0.0100%	4h	0.07693	long leg	$1.1M	$166K	50x

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX LAYER-USDT	+0.0100%	4h	0.07701	+0.104%	—	$1.6M	—	as long as short
ApeX Omni LAYERUSDT	+0.0100%	1h	0.07690	−0.039%	$26K	$183K	50x	as long as short
Extended LAYER-USD	+0.0104%	1h	0.07693	+0.002%	$2K	$176K	5x	as long as short