Funding arb · Price arb /

S

all S markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0091%/8h= +10.0% APRpaid last 24h +2.382%

Price spread now: OKX against 01 Exchange−0.026%55s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on 01 Exchange Short on OKX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. OKX is 0.026% cheaper against 01 Exchange than usual: you would sell low and buy high (spread −0.026% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 23 hours of funding at the current rate (+$3 a day). The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange SUSD	0.03900	0.0008	pay 0.0001% / 1h	35m 43s	$24K	$3K	5x
Short	OKX S-USDT-SWAP	0.03899	0.0099	get 0.0049% / 4h	2h 35m	$970K	$7.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against 01 Exchange. 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 01 ExchangebpFee OKXbpOrdersPrice spread, now −0.026%Rate

Funding earned: $19.09
Price spread: −0.026% → 0.000%: −$2.56
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee OKX: 5 bp × 2 orders: −$10
Net: −$0.47
Costs to cover: 0.170%
Break-even: 7.2 days

Slippage unknown: 01 Exchange: no order-book sample; OKX: live order book, 2 min ago. Net counts fees only.

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 01 Exchange no order-book sample	—	—	—	—	—
Sell OKX live order book, 2 min ago	1.28 bp	31.7 bp −$32	doesn't fit	doesn't fit	doesn't fit

01 Exchange: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Kraken Futures PF_SUSD	−0.1463%	1h	0.03900	+0.008%	$33K	$33K	10x	as long as short
Coinbase International S-PERP-INTX	−0.1264%	1h	0.03826	−1.897%	$47K	$5K	25x	as long as short
Variational Omni S	−0.1172%	4h	0.03903	+0.077%	$608K	$34K	—	as long as short
GMX S/USD [WBTC.b-USDC]	L −0.0173% / S +0.0169%	1h	0.03902	+0.064%	$1K	—	100x	as long as short
Reya SRUSDPERP	−0.0101%	1h	0.03898	−0.054%	$4	—	15x	as long as short
Aster SUSDT	−0.0032%	4h	0.03902	+0.064%	$43K	$212K	10x	as long as short
Orderly PERP_S_USDC	−0.0017%	4h	0.03900	0.000%	$100K	$339K	10x	as long as short
gTrade (Gains Network) S/USD	L +0.0001% / S +0.0006%	1h	0.03903	+0.068%	$602	—	150x	as long as short
01 Exchange SUSDlong	+0.0008%	1h	0.03900	long leg	$24K	$3K	5x
Injective S/USDC PERP	+0.0033%	1h	0.04100	+5.128%	$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	0.03903	+0.077%	$164K	$240K	5x	as long as short
OKX S-USDT-SWAPshort	+0.0099%	4h	0.03899	−0.026%	$970K	$7.4M	20x
Hyperliquid S	+0.0100%	1h	0.03900	−0.003%	$984K	$911K	5x	as long as short
Binance SUSDT	+0.0100%	4h	0.03904	+0.103%	$5.3M	$23.8M	75x	as long as short
Bybit SUSDT	+0.0100%	4h	0.03897	−0.077%	$5.6M	$6.4M	50x	as long as short
Gate S_USDT	+0.0100%	4h	0.03898	−0.051%	$319K	$292K	50x	as long as short
MEXC S_USDT	+0.0100%	4h	0.03904	+0.103%	$3.5M	$2.6M	200x	as long as short
KuCoin SUSDTM	+0.0100%	4h	0.03900	0.000%	$1.8M	$3.1M	50x	as long as short
Bitget SUSDT	+0.0100%	4h	0.03905	+0.128%	$1.2M	$3.0M	50x	as long as short
BingX S-USDT	+0.0100%	4h	0.03901	+0.026%	—	$6.8M	—	as long as short
ApeX Omni SUSDT	+0.0100%	1h	0.03910	+0.256%	$23K	$470K	50x	as long as short
Extended S-USD	+0.0104%	1h	0.03900	−0.011%	$219K	$883K	10x	as long as short
Deribit S_USDC-PERPETUAL	+0.0262%	1h	0.03906	+0.154%	$66K	$10K	10x	as long as short
BloFin S-USDT	+0.0340%	4h	0.03906	+0.154%	$270K	$178K	75x	as long as short
Backpack S_USDC_PERP	+0.0568%	1h	0.03910	+0.256%	$114K	$288K	5x	as long as short