Funding you earn now, next payment 04:00 UTC−0.0260%/8h= −28.5% APRnext payment −$1.30 per $10,000 · paid last 24h −0.085%
Price spread now: Bitget against OKX−0.273%7-day average −0.148% · you buy dearer than you sell
Net, funding: paid 7d − costs−$84as in the Funding arb table
Net, price: spread back to 7d avg − costs−$87as in the Price arb table
costs, in and out, $10k−$740.744% of the position
Funding, last 7 days−0.099%−$10 on $10k
+Price spread, last 7 days+0.091%+$9 · spread now −0.273%, 7d avg −0.148%
=Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Bitget is 0.125% cheaper against OKX than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of −0.148%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.099% in total (about -5.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.30 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 PI-USDT-SWAP | 0.09145 | 0.0100 | pay 0.0050% / 4h | 2h 09m | $2.7M | $7.2M | 20x |
| Short | Bitget PIUSDT | 0.09120 | −0.0160 | pay 0.0080% / 4h | 2h 09m | $5.0M | $2.1M | 50x |
OKX PI-USDT-SWAP
Bitget PIUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bitget 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
- −$54.6
- Price spread: −0.273% → −0.148%
- −$12.52
- Slippage, 4 orders
- −$52.41
- Fee OKX: 5 bp × 2 orders
- −$10
- Fee Bitget: 6 bp × 2 orders
- −$12
- Net
- −$141.53
- Costs to cover
- 0.744%
- Break-even
- never at this rate
Slippage from OKX: live order book, 4 min ago; Bitget: 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 OKX live order book, 4 min ago | 1.09 bp | 16.6 bp −$17 | 109.5 bp −$1,095 | doesn't fit | doesn't fit |
| Sell Bitget live order book, 4 min ago | 5.47 bp | 20.9 bp −$21 | 64.4 bp −$644 | doesn't fit | doesn't fit |
PI on 6 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 | |
|---|---|---|---|---|---|---|---|---|
| Bitget PIUSDTshort | −0.0160% | 4h | 0.09120 | −0.273% | $5.0M | $2.1M | 50x | |
| Injective PI/USDC PERP | +0.0033% | 1h | 0.09090 | −0.601% | $1 | $75K | 5.5x | as long as short |
| OKX PI-USDT-SWAPlong | +0.0100% | 4h | 0.09145 | long leg | $2.7M | $7.2M | 20x | |
| Gate PI_USDT | +0.0100% | 4h | 0.09150 | +0.055% | $2.7M | $2.5M | 50x | as long as short |
| MEXC PI_USDT | +0.0100% | 4h | 0.09150 | +0.055% | $9.7M | $1.5M | 125x | as long as short |
| BingX PI-USDT | +0.0100% | 4h | 0.09138 | −0.077% | — | $6.7M | — | as long as short |
Injective PI/USDC PERP
Gate PI_USDT
MEXC PI_USDT
BingX PI-USDT