Funding arb · Price arb /

SPK

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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 0.000%

Price spread now: Bybit against OKX−0.069%7-day average −0.047% · you buy dearer than you sell

Net, funding: paid 7d − costs−$149as in the Funding arb table

Net, price: spread back to 7d avg − costs−$139as in the Price arb table

costs, in and out, $10k−$1361.364% of the position

Long on OKX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.127%−$13 on $10k

Price spread, last 7 days−0.039%−$4 · spread now −0.069%, 7d avg −0.047%

Together, before fees−0.166%−$17 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: Bybit is 0.022% cheaper against OKX than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of −0.047%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX SPK-USDT-SWAP	0.02174	0.0100	pay 0.0050% / 4h	1h 42m	$766K	$2.0M	20x
Short	Bybit SPKUSDT	0.02173	0.0100	get 0.0050% / 4h	1h 42m	$1.9M	$2.2M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.069%Rate

Funding earned: $0
Price spread: −0.069% → −0.047%: −$2.25
Slippage, 4 orders: −$115.36
Fee OKX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$138.61
Costs to cover: 1.364%
Break-even: never at this rate

Slippage from OKX: live order book, 4 min ago; Bybit: 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	6.95 bp	30.4 bp −$30	426.4 bp −$4,264	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	4.63 bp	36.6 bp −$37	137.2 bp −$1,372	doesn't fit	doesn't fit

SPK on 14 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
Gate SPK_USDT	−0.0512%	4h	0.02171	−0.138%	$141K	$130K	50x	as long as short
Aster SPKUSDT	−0.0125%	4h	0.02172	−0.112%	$12K	$72K	5x	as long as short
BloFin SPK-USDT	+0.0082%	4h	0.02162	−0.552%	$189K	$31K	50x	as long as short
Binance SPKUSDT	+0.0100%	4h	0.02172	−0.092%	$3.7M	$5.7M	50x	as long as short
Bybit SPKUSDTshort	+0.0100%	4h	0.02173	−0.069%	$1.9M	$2.2M	25x
OKX SPK-USDT-SWAPlong	+0.0100%	4h	0.02174	long leg	$766K	$2.0M	20x
MEXC SPK_USDT	+0.0100%	4h	0.02172	−0.092%	$2.2M	$641K	50x	as long as short
KuCoin SPKUSDTM	+0.0100%	4h	0.02182	+0.368%	$1.1M	$476K	30x	as long as short
Bitget SPKUSDT	+0.0100%	4h	0.02174	0.000%	$1.2M	$1.5M	50x	as long as short
BingX SPK-USDT	+0.0100%	4h	0.02174	0.000%	—	$2.3M	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni SPK	+0.0100%	4h	0.02163	−0.523%	$175K	$76K	—	as long as short
SunX SPK-USDT	+0.0100%	4h	0.02214	+1.840%	$1K	$1.2M	20x	as long as short
Extended SPK-USD	+0.0104%	1h	0.02171	−0.119%	$723	$147K	5x	as long as short
Kraken Futures PF_SPKUSD	+0.2746%	1h	0.02184	+0.446%	$23K	$28K	10x	as long as short