Funding arb · Price arb /

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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: Gate against OKX+0.223%7-day average +0.054% · you sell dearer than you buy

Net, funding: paid 7d − costs−$712as in the Funding arb table

Net, price: spread back to 7d avg − costs−$692as in the Price arb table

costs, in and out, $10k−$7097.092% of the position

Long on OKX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.028%−$3 on $10k

Price spread, last 4 days (all we have)−0.376%−$38 · spread now +0.223%, 7d avg +0.054%

Together, before fees−0.404%−$40 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: Gate is 0.170% dearer against OKX than usual: you sell high and buy low, +$17 on $10k if it goes back to its 7-day average of +0.054%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX LAYER-USDT-SWAP	0.07615	0.0100	pay 0.0050% / 4h	1h 57m	$700K	$652K	20x
Short	Gate LAYER_USDT	0.07632	0.0100	get 0.0050% / 4h	1h 57m	$136K	$54K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.223%Rate

Funding earned: $0
Price spread: +0.223% → +0.054%: $16.97
Slippage, 4 orders: −$684.18
Fee OKX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$692.21
Costs to cover: 7.092%
Break-even: never at this rate

Slippage from OKX: live order book, 23 min ago; Gate: live order book, 18 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, 23 min ago	3.27 bp	46.6 bp −$47	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 18 min ago	13.07 bp	86.6 bp −$87	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	−0.0449%	1h	0.07626	+0.143%	$8K	$964	10x	as long as short
Injective LAYER/USDC PERP	+0.0033%	1h	0.07274	−4.478%	—	$18K	5.5x	as long as short
Hyperliquid LAYER	+0.0100%	1h	0.07633	+0.231%	$586K	$163K	3x	as long as short
Aster LAYERUSDT	+0.0100%	4h	0.07629	+0.184%	$9K	$2K	5x	as long as short
Binance LAYERUSDT	+0.0100%	4h	0.07622	+0.086%	$2.1M	$2.3M	50x	as long as short
OKX LAYER-USDT-SWAPlong	+0.0100%	4h	0.07615	long leg	$700K	$652K	20x
Gate LAYER_USDTshort	+0.0100%	4h	0.07632	+0.223%	$136K	$54K	20x
MEXC LAYER_USDT	+0.0100%	4h	0.07618	+0.039%	$351K	$112K	20x	as long as short
Bitget LAYERUSDT	+0.0100%	4h	0.07624	+0.118%	$1.1M	$163K	50x	as long as short
ApeX Omni LAYERUSDT	+0.0100%	1h	0.07640	+0.328%	$26K	$185K	50x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended LAYER-USD	+0.0104%	1h	0.07622	+0.091%	$2K	$174K	5x	as long as short
BingX LAYER-USDT	+0.0116%	4h	0.07625	+0.131%	—	$1.6M	—	as long as short
BloFin LAYER-USDT	+0.0129%	4h	0.07632	+0.223%	$114K	$12K	50x	as long as short