Funding you earn now, next payment 00:00 UTC−0.0100%/8h= −10.9% APRnext payment −$1.00 per $10,000 · paid last 24h −0.024%
Price spread now: OKX against Gate+0.038%7-day average +0.067% · you sell dearer than you buy
Net, funding: paid 7d − costs−$49as in the Funding arb table
Net, price: spread back to 7d avg − costs−$36as in the Price arb table
costs, in and out, $10k−$330.334% of the position
Funding, last 7 days−0.157%−$16 on $10k
+Price spread, last 4 days (all we have)+0.020%+$2 · spread now +0.038%, 7d avg +0.067%
=Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and OKX is 0.029% cheaper against Gate than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.067%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Gate USDC_USDT | 0.9996 | 0.0100 | pay 0.0100% / 8h | 1h 40m | $253K | $19K | 50x |
| Short | OKX USDC-USDT-SWAP | 1.0000 | 0 | get 0.0000% / 8h | 1h 40m | $1.1M | $45K | 50x |
Gate USDC_USDT
OKX USDC-USDT-SWAPFunding history
latest
Range statsloading…
Price spread between the two exchanges
OKX against Gate. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$21
- Price spread: +0.038% → +0.067%
- −$2.9
- Slippage, 4 orders
- −$8.4
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- −$57.3
- Costs to cover
- 0.334%
- Break-even
- never at this rate
Slippage from Gate: live order book, 36 min ago; OKX: live order book, 1 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 Gate live order book, 36 min ago | 3.00 bp | 11.8 bp −$12 | 14.8 bp −$148 | doesn't fit | doesn't fit |
| Sell OKX live order book, 1 min ago | 0.00 bp | 5.5 bp −$5 | 7.8 bp −$78 | doesn't fit | doesn't fit |
USDC on 8 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 | |
|---|---|---|---|---|---|---|---|---|
| Binance USDCUSDT | −0.0099% | 8h | 0.9994 | −0.016% | $4.3M | $3.7M | 50x | as long as short |
| MEXC USDC_USDT | −0.0098% | 8h | 0.9994 | −0.015% | $16.6M | $265K | 200x | as long as short |
| Bitget USDCUSDT | −0.0072% | 8h | 0.9993 | −0.030% | $4.3M | $17K | 50x | as long as short |
| Kraken Futures PF_USDCUSD | −0.0045% | 1h | 0.9997 | +0.015% | $14K | $928 | 50x | as long as short |
| KuCoin USDCUSDTM | −0.0005% | 8h | 0.9994 | −0.020% | $2.5M | $19K | 30x | as long as short |
| Bybit USDCUSDT | 0.0000% | 8h | 1.0001 | +0.050% | $9.5M | $336K | 50x | as long as short |
| OKX USDC-USDT-SWAPshort | 0.0000% | 8h | 1.0000 | +0.038% | $1.1M | $45K | 50x | |
| Gate USDC_USDTlong | +0.0100% | 8h | 0.9996 | long leg | $253K | $19K | 50x |
Binance USDCUSDT
MEXC USDC_USDT
Bitget USDCUSDT
Kraken Futures PF_USDCUSD
KuCoin USDCUSDTM
Bybit USDCUSDT