SHELL

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.1030%/8h= −112.8% APRnext payment −$5.15 per $10,000 · paid last 24h −0.143%

Price spread now: OKX against BingX+0.222%7-day average +0.036% · you sell dearer than you buy

Net, funding: paid 7d − costs−$222as in the Funding arb table

Net, price: spread back to 7d avg − costs−$181as in the Price arb table

costs, in and out, $10k−$1991.992% of the position

Long on BingX Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.231%−$23 on $10k

Price spread, last 4 days (all we have)−0.223%−$22 · spread now +0.222%, 7d avg +0.036%

Together, before fees−0.454%−$45 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.186% dearer against BingX than usual: you sell high and buy low (spread +0.222% now, against its 7-day average of +0.036%): +$19 on $10k if it goes back. Holding the pair costs −$31 a day in funding at the current rate, which eats that in about 14 hours. At the pace of the last 7 days (−0.231% in total) that is about 5.6 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.231% in total (about -12.0% a year). A funding rate is set anew for every payment; at this rate the next one is about −$5.15 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	BingX SHELL-USDT	0.02705	0.1130	pay 0.0565% / 4h	1h 49m	—	$6.5M	—
Short	OKX SHELL-USDT-SWAP	0.02711	0.0100	get 0.0050% / 4h	1h 49m	$171K	$462K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against BingX. 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 BingXbpFee OKXbpOrdersPrice spread, now +0.222%Rate

Funding earned: −$216.3
Price spread: +0.222% → +0.036%: $18.59
Slippage, 4 orders: −$179.17
Fee BingX: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$396.88
Costs to cover: 1.992%
Break-even: never at this rate

Slippage from BingX: live order book, 2 min ago; OKX: live order book, 57 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 BingX live order book, 2 min ago	9.25 bp	37.5 bp −$38	169.1 bp −$1,691	666.9 bp −$66.7K	845.3 bp −$422.7K
Sell OKX live order book, 57 min ago	7.30 bp	61.4 bp −$61	doesn't fit	doesn't fit	doesn't fit

SHELL on 10 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
Aster SHELLUSDT	+0.0100%	4h	0.02699	−0.221%	$1K	$10K	5x	as long as short
OKX SHELL-USDT-SWAPshort	+0.0100%	4h	0.02711	+0.222%	$171K	$462K	10x
Gate SHELL_USDT	+0.0100%	4h	0.02708	+0.111%	$411K	$207K	10x	as long as short
KuCoin SHELLUSDTM	+0.0100%	4h	0.02704	−0.037%	$342K	$35K	10x	as long as short
Variational Omni SHELL	+0.0100%	4h	0.02693	−0.442%	$1K	$1K	—	as long as short
MEXC SHELL_USDT	+0.0126%	4h	0.02700	−0.185%	$280K	$143K	50x	as long as short
Binance SHELLUSDT	+0.0127%	4h	0.02702	−0.096%	$2.1M	$2.9M	10x	as long as short
Bybit SHELLUSDT	+0.0562%	4h	0.02701	−0.148%	$509K	$216K	13x	as long as short
BingX SHELL-USDTlong	+0.1130%	4h	0.02705	long leg	—	$6.5M	—
Bitget SHELLUSDT	+0.1220%	4h	0.02706	+0.037%	$568K	$247K	10x	as long as short