Funding arb · Price arb /

STABLE

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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: OKX against Bybit−0.040%7-day average −0.113% · you buy dearer than you sell

Net, funding: paid 7d − costs−$140as in the Funding arb table

Net, price: spread back to 7d avg − costs−$144as in the Price arb table

costs, in and out, $10k−$1511.513% of the position

Long on Bybit Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.117%+$12 on $10k

Price spread, last 7 days−0.032%−$3 · spread now −0.040%, 7d avg −0.113%

Together, before fees+0.085%+$9 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 0.073% dearer against Bybit than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.113%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit STABLEUSDT	0.02497	0.0100	pay 0.0050% / 4h	1h 16m	$1.5M	$727K	25x
Short	OKX STABLE-USDT-SWAP	0.02496	0.0100	get 0.0050% / 4h	1h 16m	$201K	$381K	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 −0.040%Rate

Funding earned: $0
Price spread: −0.040% → −0.113%: $7.28
Slippage, 4 orders: −$130.31
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee OKX: 5 bp × 2 orders: −$10
Net: −$144.03
Costs to cover: 1.513%
Break-even: never at this rate

Slippage from Bybit: live order book, 5 min ago; OKX: live order book, 44 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	4.01 bp	35.1 bp −$35	445.5 bp −$4,455	doesn't fit	doesn't fit
Sell OKX live order book, 44 min ago	4.01 bp	36.4 bp −$36	doesn't fit	doesn't fit	doesn't fit

STABLE on 15 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
BloFin STABLE-USDT	+0.0060%	4h	0.02491	−0.240%	$119K	$7K	75x	as long as short
Lighter STABLE	+0.0096%	1h	0.02506	+0.368%	$115K	$6K	3x	as long as short
Hyperliquid STABLE	+0.0100%	1h	0.02496	−0.060%	$878K	$180K	3x	as long as short
Aster STABLEUSDT	+0.0100%	4h	0.02493	−0.153%	$19K	$8K	20x	as long as short
Binance STABLEUSDT	+0.0100%	4h	0.02496	−0.060%	$2.6M	$2.7M	75x	as long as short
Bybit STABLEUSDTlong	+0.0100%	4h	0.02497	long leg	$1.5M	$727K	25x
OKX STABLE-USDT-SWAPshort	+0.0100%	4h	0.02496	−0.040%	$201K	$381K	20x
Gate STABLE_USDT	+0.0100%	4h	0.02494	−0.120%	$176K	$58K	50x	as long as short
MEXC STABLE_USDT	+0.0100%	4h	0.02495	−0.080%	$617K	$169K	20x	as long as short
KuCoin STABLEUSDTM	+0.0100%	4h	0.02500	+0.120%	$185K	$29K	30x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget STABLEUSDT	+0.0100%	4h	0.02495	−0.080%	$287K	$92K	25x	as long as short
BingX STABLE-USDT	+0.0100%	4h	0.02495	−0.080%	—	$6.5M	—	as long as short
Variational Omni STABLE	+0.0100%	4h	0.02497	+0.001%	$146K	$50K	—	as long as short
SunX STABLE-USDT	+0.0100%	4h	0.02495	−0.092%	$1K	$833K	20x	as long as short
Extended STABLE-USD	+0.0104%	1h	0.02494	−0.109%	$14K	$138K	10x	as long as short