Funding arb · Price arb /

NOT

all NOT markets

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 +0.013%

Price spread now: OKX against Bybit+0.079%7-day average +0.102% · 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−$129as in the Price arb table

costs, in and out, $10k−$1271.268% of the position

Long on Bybit Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.015%+$1 on $10k

Price spread, last 4 days (all we have)−0.005%−$1 · spread now +0.079%, 7d avg +0.102%

Together, before fees+0.010%+$1 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 0.023% cheaper against Bybit than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of +0.102%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit NOTUSDT	0.0005037	0.0100	pay 0.0050% / 4h	2h 33m	$2.1M	$801K	25x
Short	OKX NOT-USDT-SWAP	0.0005041	0.0100	get 0.0050% / 4h	2h 33m	$610K	$580K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Bybit. 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 BybitbpFee OKXbpOrdersPrice spread, now +0.079%Rate

Funding earned: $0
Price spread: +0.079% → +0.102%: −$2.25
Slippage, 4 orders: −$105.84
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee OKX: 5 bp × 2 orders: −$10
Net: −$129.09
Costs to cover: 1.268%
Break-even: never at this rate

Slippage from Bybit: live order book, 3 min ago; OKX: live order book, 52 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 Bybit live order book, 3 min ago	3.97 bp	36.0 bp −$36	173.7 bp −$1,737	doesn't fit	doesn't fit
Sell OKX live order book, 52 min ago	2.97 bp	30.0 bp −$30	doesn't fit	doesn't fit	doesn't fit

NOT on 16 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
Variational Omni NOT	+0.0024%	4h	0.0005032	−0.093%	$66K	$34K	—	as long as short
Injective NOT/USDC PERP	+0.0033%	1h	0.0004874	−3.236%	$1K	$13K	5.5x	as long as short
Lighter 1000NOT	+0.0096%	1h	0.0005052	+0.292%	$11K	$5K	3x	as long as short
Hyperliquid NOT	+0.0100%	1h	0.0005040	+0.060%	$368K	$50K	3x	as long as short
Aster NOTUSDT	+0.0100%	4h	0.0005043	+0.111%	$14K	$13K	5x	as long as short
Binance NOTUSDT	+0.0100%	4h	0.0005041	+0.079%	$2.1M	$3.0M	50x	as long as short
Bybit NOTUSDTlong	+0.0100%	4h	0.0005037	long leg	$2.1M	$801K	25x
OKX NOT-USDT-SWAPshort	+0.0100%	4h	0.0005041	+0.079%	$610K	$580K	20x
Gate NOT_USDT	+0.0100%	4h	0.0005035	−0.040%	$140K	$76K	50x	as long as short
MEXC NOT_USDT	+0.0100%	4h	0.0005039	+0.040%	$1.3M	$485K	200x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin NOTUSDTM	+0.0100%	4h	0.0005037	0.000%	$490K	$118K	50x	as long as short
Bitget NOTUSDT	+0.0100%	4h	0.0005040	+0.060%	$662K	$382K	50x	as long as short
BingX NOT-USDT	+0.0100%	4h	0.0005037	0.000%	—	$7.5M	—	as long as short
Extended kNOT-USD	+0.0104%	1h	0.0005040	+0.066%	$4K	$1K	5x	as long as short
BloFin NOT-USDT	+0.0115%	4h	0.0005037	0.000%	$112K	$17K	50x	as long as short
Kraken Futures PF_NOTUSD	+0.7077%	1h	0.0005076	+0.779%	$49K	$9K	10x	as long as short