Funding arb · Price arb /

NOT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.013%

Price spread now: Bybit against OKX0.000%7-day average −0.101% · you sell dearer than you buy

Net, funding: paid 7d − costs−$107as in the Funding arb table

Net, price: spread back to 7d avg − costs−$95as in the Price arb table

costs, in and out, $10k−$1051.054% of the position

Long on OKX Short on Bybit

What this pair did over the last

the charts below follow

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

Price spread, last 4 days (all we have)−0.081%−$8 · spread now 0.000%, 7d avg −0.101%

Together, before fees−0.096%−$10 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: Bybit is 0.101% dearer against OKX than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of −0.101%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX NOT-USDT-SWAP	0.0005098	0.0100	pay 0.0050% / 4h	3h 41m	$633K	$614K	20x
Short	Bybit NOTUSDT	0.0005098	0.0100	get 0.0050% / 4h	3h 41m	$2.2M	$829K	25x

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 0.000%Rate

Funding earned: $0
Price spread: 0.000% → −0.101%: $10.11
Slippage, 4 orders: −$84.44
Fee OKX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$95.33
Costs to cover: 1.054%
Break-even: never at this rate

Slippage from OKX: live order book, 29 min ago; 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, 29 min ago	2.95 bp	25.4 bp −$25	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	1.97 bp	28.8 bp −$29	122.1 bp −$1,221	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
Kraken Futures PF_NOTUSD	−0.0332%	1h	0.0005106	+0.159%	$50K	$10K	10x	as long as short
Gate NOT_USDT	−0.0118%	4h	0.0005096	−0.039%	$142K	$78K	50x	as long as short
Variational Omni NOT	−0.0097%	4h	0.0005078	−0.388%	$72K	$39K	—	as long as short
Injective NOT/USDC PERP	+0.0033%	1h	0.0004874	−4.394%	$1K	$13K	5.5x	as long as short
BloFin NOT-USDT	+0.0075%	4h	0.0005087	−0.216%	$112K	$17K	50x	as long as short
Lighter 1000NOT	+0.0096%	1h	0.0005107	+0.184%	$11K	$5K	3x	as long as short
Hyperliquid NOT	+0.0100%	1h	0.0005100	+0.039%	$373K	$50K	3x	as long as short
Aster NOTUSDT	+0.0100%	4h	0.0005104	+0.116%	$14K	$9K	5x	as long as short
Binance NOTUSDT	+0.0100%	4h	0.0005099	+0.012%	$2.1M	$3.1M	50x	as long as short
Bybit NOTUSDTshort	+0.0100%	4h	0.0005098	0.000%	$2.2M	$829K	25x

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX NOT-USDT-SWAPlong	+0.0100%	4h	0.0005098	long leg	$633K	$614K	20x
MEXC NOT_USDT	+0.0100%	4h	0.0005101	+0.059%	$1.4M	$461K	200x	as long as short
KuCoin NOTUSDTM	+0.0100%	4h	0.0005094	−0.078%	$465K	$136K	50x	as long as short
Bitget NOTUSDT	+0.0100%	4h	0.0005105	+0.137%	$669K	$390K	50x	as long as short
BingX NOT-USDC	+0.0100%	4h	0.0005101	+0.059%	—	$721K	—	as long as short
Extended kNOT-USD	+0.0104%	1h	0.0005101	+0.053%	$4K	$491	5x	as long as short