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Funding arb · Price arb /

TRUST

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 00:00 UTC+0.3508%/8h= +384.2% APRnext payment +$17.54 per $10,000 · paid last 24h +0.905%
Price spread now: Bybit against OKX−0.483%7-day average −0.126% · you buy dearer than you sell
Net, funding: paid 7d − costs−$162as in the Funding arb table
Net, price: spread back to 7d avg − costs−$306as in the Price arb table
costs, in and out, $10k−$2702.700% of the position
Long on OKXShort on Bybit
What this pair did over the last
the charts below follow
Funding, last 7 days+1.078%+$108 on $10k
Price spread, last 4 days (all we have)+0.551%+$55 · spread now −0.483%, 7d avg −0.126%
Together, before fees+1.629%+$163 on $10k · with fees, hour by hour
Funding pays, the price is against you. Bybit is 0.357% cheaper against OKX than usual: you would sell low and buy high (spread −0.483% now, against its 7-day average of −0.126%). If the spread goes back, that is −$36 on $10k: about 8 hours of funding at the current rate (+$105 a day). At the pace of the last 7 days (+1.078% in total) that is about 2.3 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 1.078% in total (about 56.2% a year). A funding rate is set anew for every payment; at this rate the next one is about +$17.54 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongOKX TRUST-USDT-SWAP0.060080.0100pay 0.0050% / 4h31m 01s$106K$117K10x
ShortBybit TRUSTUSDT0.059790.3608get 0.1804% / 4h31m 01s$500K$217K25x

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

Funding earned
$736.73
Price spread: −0.483% → −0.126%
−$35.68
Slippage, 4 orders
−$248.95
Fee OKX: 5 bp × 2 orders
−$10
Fee Bybit: 5.5 bp × 2 orders
−$11
Net
$431.09
Costs to cover
2.700%
Break-even
2.9 days
Slippage from OKX: live order book, 44 min ago; Bybit: live order book, 39 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy OKX live order book, 44 min ago11.63 bp61.0 bp −$6115302.8 bp −$153.0Kdoesn't fitdoesn't fit
Sell Bybit live order book, 39 min ago7.52 bp70.6 bp −$71doesn't fitdoesn't fitdoesn't fit

TRUST on 10 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
OKX TRUST-USDT-SWAPlong+0.0100%4h0.06008long leg$106K$117K10x
Gate TRUST_USDT+0.0100%8h0.06029+0.350%$493K$21K10xas long as short
KuCoin TRUSTUSDTM+0.0100%4h0.06004−0.067%$282K$725K10xas long as short
Bitget TRUSTUSDT+0.0100%4h0.06022+0.233%$646K$57K10xas long as short
Binance TRUSTUSDT+0.0233%4h0.06005−0.050%$1.6M$1.1M10xas long as short
MEXC TRUST_USDT+0.0242%4h0.06005−0.050%$193K$96K50xas long as short
Aster TRUSTUSDT+0.0306%4h0.06011+0.046%$10K$6K5xas long as short
BingX TRUST-USDT+0.3432%4h0.06001−0.117%—$6.5M—as long as short
Bybit TRUSTUSDTshort+0.3608%4h0.05979−0.483%$500K$217K25x
Variational Omni TRUST+0.4332%4h0.05979−0.477%$54K$409—as long as short