Funding arb · Price arb /

S

all S markets

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 +0.043%

Price spread now: Gate against OKX−0.101%7-day average +0.002% · you buy dearer than you sell

Net, funding: paid 7d − costs−$194as in the Funding arb table

Net, price: spread back to 7d avg − costs−$226as in the Price arb table

costs, in and out, $10k−$2152.153% of the position

Long on OKX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.215%+$21 on $10k

Price spread, last 4 days (all we have)−0.025%−$3 · spread now −0.101%, 7d avg +0.002%

Together, before fees+0.189%+$19 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: Gate is 0.103% cheaper against OKX than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of +0.002%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX S-USDT-SWAP	0.03956	0.0100	pay 0.0050% / 4h	2h 55m	$966K	$4.3M	20x
Short	Gate S_USDT	0.03952	0.0100	get 0.0050% / 4h	2h 55m	$326K	$199K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.101%Rate

Funding earned: $0
Price spread: −0.101% → +0.002%: −$10.28
Slippage, 4 orders: −$190.26
Fee OKX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$225.53
Costs to cover: 2.153%
Break-even: never at this rate

Slippage from OKX: live order book, 2 min ago; Gate: live order book, 10 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, 2 min ago	3.77 bp	30.1 bp −$30	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 10 min ago	8.76 bp	91.4 bp −$91	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
Coinbase International S-PERP-INTX	−0.1464%	1h	0.03946	−0.253%	$49K	$5K	25x	as long as short
Kraken Futures PF_SUSD	−0.1284%	1h	0.03945	−0.271%	$33K	$23K	10x	as long as short
Variational Omni S	−0.0631%	4h	0.03947	−0.218%	$614K	$30K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0206% / S +0.0198%	1h	0.03960	+0.101%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03955	−0.022%	$4	—	15x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03961	+0.117%	$610	—	150x	as long as short
Injective S/USDC PERP	+0.0033%	1h	0.04100	+3.640%	$2K	$37K	12x	as long as short
Orderly PERP_S_USDC	+0.0038%	4h	0.03957	+0.025%	$101K	$331K	10x	as long as short
01 Exchange SUSD	+0.0048%	1h	0.03960	+0.101%	$25K	$2K	5x	as long as short
Lighter S	+0.0096%	1h	0.03959	+0.076%	$163K	$164K	5x	as long as short

Show all 25 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid S	+0.0100%	1h	0.03958	+0.061%	$990K	$624K	5x	as long as short
Aster SUSDT	+0.0100%	4h	0.03962	+0.143%	$43K	$141K	10x	as long as short
Binance SUSDT	+0.0100%	4h	0.03956	0.000%	$5.4M	$15.4M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03950	−0.152%	$5.6M	$4.9M	50x	as long as short
OKX S-USDT-SWAPlong	+0.0100%	4h	0.03956	long leg	$966K	$4.3M	20x
Gate S_USDTshort	+0.0100%	4h	0.03952	−0.101%	$326K	$199K	50x
MEXC S_USDT	+0.0100%	4h	0.03956	0.000%	$3.6M	$1.8M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03958	+0.051%	$1.8M	$2.9M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03957	+0.025%	$1.2M	$2.4M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03956	0.000%	—	$6.7M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03980	+0.607%	$26K	$446K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03958	+0.040%	$223K	$1.1M	10x	as long as short
Backpack S_USDC_PERP	+0.0165%	1h	0.03960	+0.101%	$115K	$329K	5x	as long as short
Deribit S_USDC-PERPETUAL	+0.0256%	1h	0.03957	+0.025%	$67K	$10K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03986	+0.758%	$270K	$120K	75x	as long as short