NIGHT

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0041%/8h= −4.4% APRnext payment −$0.20 per $10,000 · paid last 24h +0.001%

Price spread now: OKX against BloFin+0.059%7-day average −0.063% · you sell dearer than you buy

Net, funding: paid 7d − costs−$154as in the Funding arb table

Net, price: spread back to 7d avg − costs−$139as in the Price arb table

costs, in and out, $10k−$1511.510% of the position

Long on BloFin Short on OKX

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)−0.615%−$61 · spread now +0.059%, 7d avg −0.063%

Together, before fees−0.643%−$64 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.122% dearer against BloFin than usual: you sell high and buy low (spread +0.059% now, against its 7-day average of −0.063%): +$12 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 10 days. At the pace of the last 7 days (−0.028% in total) that is about 30 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin NIGHT-USDT	0.02363	0.0141	pay 0.0070% / 4h	2h 21m	$268K	$40K	50x
Short	OKX NIGHT-USDT-SWAP	0.02364	0.0100	get 0.0050% / 4h	2h 21m	$1.5M	$1.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against BloFin. 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 BloFinbpFee OKXbpOrdersPrice spread, now +0.059%Rate

Funding earned: −$8.52
Price spread: +0.059% → −0.063%: $12.18
Slippage, 4 orders: −$128.98
Fee BloFin: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$147.31
Costs to cover: 1.510%
Break-even: never at this rate

Slippage from BloFin: live order book, 25 min ago; OKX: live order book, 4 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 BloFin live order book, 25 min ago	6.36 bp	44.9 bp −$45	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 4 min ago	4.24 bp	31.4 bp −$31	doesn't fit	doesn't fit	doesn't fit

NIGHT on 15 exchanges

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
Coinbase International NIGHT-PERP-INTX	−1.8664%	1h	0.02239	−5.256%	$1K	$74	50x	as long as short
Kraken Futures PF_NIGHTUSD	−0.4439%	1h	0.02382	+0.798%	$62K	$51K	25x	as long as short
Injective NIGHT/USDC PERP	+0.0033%	1h	0.02435	+3.047%	$1K	$58K	5.5x	as long as short
Aster NIGHTUSDT	+0.0100%	4h	0.02367	+0.180%	$18K	$37K	10x	as long as short
Binance NIGHTUSDT	+0.0100%	4h	0.02367	+0.169%	$5.1M	$4.8M	50x	as long as short
Bybit NIGHTUSDT	+0.0100%	4h	0.02369	+0.254%	$1.9M	$862K	50x	as long as short
OKX NIGHT-USDT-SWAPshort	+0.0100%	4h	0.02364	+0.059%	$1.5M	$1.6M	20x
Gate NIGHT_USDT	+0.0100%	8h	0.02364	+0.042%	$214K	$176K	20x	as long as short
KuCoin NIGHTUSDTM	+0.0100%	4h	0.02365	+0.103%	$1.3M	$5.4M	50x	as long as short
Bitget NIGHTUSDT	+0.0100%	4h	0.02368	+0.212%	$635K	$371K	25x	as long as short

Show all 15 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX NIGHT-USDT	+0.0100%	4h	0.02366	+0.127%	$1K	$1.3M	20x	as long as short
BingX NIGHT-USDT	+0.0108%	4h	0.02367	+0.169%	—	$6.6M	—	as long as short
BloFin NIGHT-USDTlong	+0.0141%	4h	0.02363	long leg	$268K	$40K	50x
MEXC NIGHT_USDT	+0.0216%	4h	0.02367	+0.169%	$904K	$355K	100x	as long as short
Deribit NIGHT_USDC-PERPETUAL	+0.0722%	1h	0.02369	+0.241%	$97	$99	10x	as long as short