Funding you earn now, next payment 04:00 UTC+0.0923%/8h= +101.1% APRnext payment +$4.61 per $10,000 · paid last 24h +0.087%
Price spread now: Bybit against OKX−0.175%7-day average −0.029% · you buy dearer than you sell
Net, funding: paid 7d − costs−$339as in the Funding arb table
Net, price: spread back to 7d avg − costs−$366as in the Price arb table
costs, in and out, $10k−$3513.514% of the position
Funding, last 7 days+0.121%+$12 on $10k
+Price spread, last 4 days (all we have)+0.149%+$15 · spread now −0.175%, 7d avg −0.029%
=Funding pays, the price is against you. Bybit is 0.147% cheaper against OKX than usual: you would sell low and buy high (spread −0.175% now, against its 7-day average of −0.029%). If the spread goes back, that is −$15 on $10k: about 13 hours of funding at the current rate (+$28 a day). At the pace of the last 7 days (+0.121% in total) that is about 8.5 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.121% in total (about 6.3% a year). A funding rate is set anew for every payment; at this rate the next one is about +$4.61 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | OKX LIGHT-USDT-SWAP | 0.1824 | 0.0175 | pay 0.0087% / 4h | 3h 20m | $914K | $1.3M | 10x |
| Short | Bybit LIGHTUSDT | 0.1821 | 0.1097 | get 0.0549% / 4h | 3h 20m | $2.2M | $599K | 13x |
OKX LIGHT-USDT-SWAP
Bybit LIGHTUSDTFunding 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $193.8
- Price spread: −0.175% → −0.029%
- −$14.68
- Slippage, 4 orders
- −$330.4
- Fee OKX: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$172.29
- Costs to cover
- 3.514%
- Break-even
- 13.2 days
Slippage from OKX: live order book, 2 min ago; Bybit: live order book, 2 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, 2 min ago | 2.75 bp | 34.8 bp −$35 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bybit live order book, 2 min ago | 4.40 bp | 134.8 bp −$135 | doesn't fit | doesn't fit | doesn't fit |
LIGHT on 9 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 | |
|---|---|---|---|---|---|---|---|---|
| Gate LIGHT_USDT | +0.0100% | 8h | 0.1819 | −0.274% | $2.3M | $556K | 10x | as long as short |
| SunX LIGHT-USDT | +0.0100% | 4h | 0.1819 | −0.274% | $1K | $1.4M | 20x | as long as short |
| OKX LIGHT-USDT-SWAPlong | +0.0175% | 4h | 0.1824 | long leg | $914K | $1.3M | 10x | |
| Aster LIGHTUSDT | +0.0430% | 4h | 0.1818 | −0.312% | $22K | $6K | 5x | as long as short |
| BloFin LIGHT-USDT | +0.0514% | 4h | 0.1818 | −0.329% | $238K | $12K | 10x | as long as short |
| Binance LIGHTUSDT | +0.0541% | 4h | 0.1823 | −0.066% | $4.2M | $3.0M | 10x | as long as short |
| MEXC LIGHT_USDT | +0.0544% | 4h | 0.1822 | −0.110% | $1.4M | $289K | 50x | as long as short |
| KuCoin LIGHTUSDTM | +0.0576% | 4h | 0.1818 | −0.334% | $2.0M | $2.5M | 10x | as long as short |
| Bybit LIGHTUSDTshort | +0.1097% | 4h | 0.1821 | −0.175% | $2.2M | $599K | 13x |
Gate LIGHT_USDT
SunX LIGHT-USDT
Aster LIGHTUSDT
BloFin LIGHT-USDT
Binance LIGHTUSDT
MEXC LIGHT_USDT
KuCoin LIGHTUSDTM