Funding arb · Price arb /

MASK

all MASK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0247%/8h= −27.0% APRpaid last 24h +0.005%

Price spread now: Bybit against OKX+0.041%7-day average +0.078% · you sell dearer than you buy

Net, funding: paid 7d − costs−$125as in the Funding arb table

Net, price: spread back to 7d avg − costs−$128as in the Price arb table

costs, in and out, $10k−$1251.246% of the position

Long on OKX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.001%$0 on $10k

Price spread, last 4 days (all we have)−0.013%−$1 · spread now +0.041%, 7d avg +0.078%

Together, before fees−0.014%−$1 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Bybit is 0.037% cheaper against OKX than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.078%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.001% in total (about -0.1% a year). A funding rate is set anew for every payment. 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 MASK-USDT-SWAP	0.4851	0.0100	pay 0.0100% / 8h	1h 11m	$506K	$3.1M	20x
Short	Bybit MASKUSDT	0.4853	−0.0147	pay 0.0073% / 4h	1h 11m	$1.3M	$1.8M	50x

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 +0.041%Rate

Funding earned: −$51.83
Price spread: +0.041% → +0.078%: −$3.72
Slippage, 4 orders: −$103.63
Fee OKX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$180.18
Costs to cover: 1.246%
Break-even: never at this rate

Slippage from OKX: live order book, just now; Bybit: live order book, 5 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, just now	3.09 bp	21.0 bp −$21	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	4.12 bp	42.4 bp −$42	70.8 bp −$708	doesn't fit	doesn't fit

MASK on 10 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
Bybit MASKUSDTshort	−0.0147%	4h	0.4853	+0.041%	$1.3M	$1.8M	50x
BloFin MASK-USDT	+0.0049%	4h	0.4862	+0.227%	$129K	$20K	50x	as long as short
Binance MASKUSDT	+0.0100%	4h	0.4859	+0.168%	$2.6M	$9.8M	50x	as long as short
OKX MASK-USDT-SWAPlong	+0.0100%	8h	0.4851	long leg	$506K	$3.1M	20x
Gate MASK_USDT	+0.0100%	8h	0.4859	+0.165%	$274K	$658K	50x	as long as short
MEXC MASK_USDT	+0.0100%	8h	0.4857	+0.124%	$1.0M	$327K	50x	as long as short
KuCoin MASKUSDTM	+0.0100%	4h	0.4861	+0.206%	$600K	$229K	50x	as long as short
Bitget MASKUSDT	+0.0100%	4h	0.4861	+0.206%	$512K	$1.2M	50x	as long as short
BingX MASK-USDT	+0.0100%	4h	0.4857	+0.124%	—	$2.3M	—	as long as short
Variational Omni MASK	+0.0100%	4h	0.4847	−0.085%	$23K	$1	—	as long as short