Funding arb · Price arb /

S

all S 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 −0.051%

Price spread now: OKX against Bybit+0.076%7-day average +0.050% · you sell dearer than you buy

Net, funding: paid 7d − costs−$146as in the Funding arb table

Net, price: spread back to 7d avg − costs−$123as in the Price arb table

costs, in and out, $10k−$1261.259% of the position

Long on Bybit Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.204%−$20 on $10k

Price spread, last 7 days−0.019%−$2 · spread now +0.076%, 7d avg +0.050%

Together, before fees−0.223%−$22 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 0.026% dearer against Bybit than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.050%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit SUSDT	0.03940	0.0100	pay 0.0050% / 4h	2m 23s	$5.6M	$5.1M	50x
Short	OKX S-USDT-SWAP	0.03943	0.0100	get 0.0050% / 4h	2m 23s	$984K	$4.8M	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 +0.076%Rate

Funding earned: $0
Price spread: +0.076% → +0.050%: $2.61
Slippage, 4 orders: −$104.87
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee OKX: 5 bp × 2 orders: −$10
Net: −$123.26
Costs to cover: 1.259%
Break-even: never at this rate

Slippage from Bybit: live order book, 5 min ago; OKX: 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 Bybit live order book, 5 min ago	3.82 bp	30.1 bp −$30	94.1 bp −$941	doesn't fit	doesn't fit
Sell OKX live order book, 5 min ago	1.27 bp	35.7 bp −$36	doesn't fit	doesn't fit	doesn't fit

S on 25 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
01 Exchange SUSD	−0.6104%	1h	0.03840	−2.538%	$23K	$2K	5x	as long as short
Kraken Futures PF_SUSD	−0.2116%	1h	0.03941	+0.019%	$33K	$23K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1336%	1h	0.03826	−2.893%	$47K	$5K	25x	as long as short
Variational Omni S	−0.1056%	4h	0.03927	−0.331%	$611K	$31K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0205% / S +0.0197%	1h	0.03948	+0.211%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03942	+0.062%	$4	—	15x	as long as short
Deribit S_USDC-PERPETUAL	−0.0003%	1h	0.03949	+0.228%	$66K	$10K	10x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03948	+0.210%	$609	—	150x	as long as short
Orderly PERP_S_USDC	+0.0024%	4h	0.03944	+0.102%	$100K	$337K	10x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+4.061%	$2K	$37K	12x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter S	+0.0096%	1h	0.03949	+0.228%	$165K	$217K	5x	as long as short
Hyperliquid S	+0.0100%	1h	0.03943	+0.084%	$988K	$664K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.03949	+0.227%	$43K	$142K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.03944	+0.102%	$5.4M	$16.7M	75x	as long as short
Bybit SUSDTlong	+0.0100%	4h	0.03940	long leg	$5.6M	$5.1M	50x
OKX S-USDT-SWAPshort	+0.0100%	4h	0.03943	+0.076%	$984K	$4.8M	20x
Gate S_USDT	+0.0100%	4h	0.03937	−0.076%	$321K	$259K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03943	+0.076%	$3.6M	$1.9M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03948	+0.203%	$1.8M	$2.9M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03945	+0.127%	$1.2M	$2.5M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03943	+0.076%	—	$6.7M	—	as long as short
Backpack S_USDC_PERP	+0.0100%	1h	0.03950	+0.254%	$115K	$313K	5x	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03940	0.000%	$25K	$448K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03942	+0.045%	$221K	$877K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03935	−0.127%	$265K	$125K	75x	as long as short