Funding arb · Price arb /

W

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.030%

Price spread now: OKX against Binance−0.075%7-day average −0.026% · you buy dearer than you sell

Net, funding: paid 7d − costs−$110as in the Funding arb table

Net, price: spread back to 7d avg − costs−$110as in the Price arb table

costs, in and out, $10k−$1051.046% of the position

Long on Binance Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.055%−$6 on $10k

Price spread, last 7 days+0.065%+$6 · spread now −0.075%, 7d avg −0.026%

Together, before fees+0.010%+$1 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 0.049% cheaper against Binance than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.026%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance WUSDT	0.01179	0.0100	pay 0.0050% / 4h	3h 11m	$2.9M	$5.7M	50x
Short	OKX W-USDT-SWAP	0.01178	0.0100	get 0.0050% / 4h	3h 11m	$1.3M	$1.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Binance. 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 BinancebpFee OKXbpOrdersPrice spread, now −0.075%Rate

Funding earned: $0
Price spread: −0.075% → −0.026%: −$4.89
Slippage, 4 orders: −$84.64
Fee Binance: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$109.53
Costs to cover: 1.046%
Break-even: never at this rate

Slippage from Binance: live order book, 11 min ago; OKX: live order book, 5 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 Binance live order book, 11 min ago	2.12 bp	25.4 bp −$25	130.7 bp −$1,307	doesn't fit	doesn't fit
Sell OKX live order book, 5 min ago	0.42 bp	32.8 bp −$33	doesn't fit	doesn't fit	doesn't fit

W on 17 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
Deribit W_USDC-PERPETUAL	0.0000%	1h	0.01180	+0.043%	$15K	$3K	10x	as long as short
Injective W/USDC PERP	+0.0033%	1h	0.01209	+2.519%	$1K	$1K	12x	as long as short
Hyperliquid W	+0.0100%	1h	0.01180	+0.060%	$2.0M	$318K	5x	as long as short
Binance WUSDTlong	+0.0100%	4h	0.01179	long leg	$2.9M	$5.7M	50x
Bybit WUSDT	+0.0100%	4h	0.01178	−0.118%	$4.1M	$1.7M	50x	as long as short
OKX W-USDT-SWAPshort	+0.0100%	4h	0.01178	−0.075%	$1.3M	$1.7M	20x
Gate W_USDT	+0.0100%	4h	0.01178	−0.126%	$434K	$257K	75x	as long as short
MEXC W_USDT	+0.0100%	4h	0.01179	+0.018%	$12.7M	$1.3M	50x	as long as short
KuCoin WUSDTM	+0.0100%	4h	0.01178	−0.109%	$380K	$200K	50x	as long as short
Bitget WUSDT	+0.0100%	4h	0.01179	−0.024%	$1.3M	$541K	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX W-USDT	+0.0100%	4h	0.01179	−0.024%	—	$6.8M	—	as long as short
Variational Omni W	+0.0100%	4h	0.01181	+0.140%	$71K	$39K	—	as long as short
GRVT W_USDT_Perp	+0.0100%	4h	0.01180	+0.060%	$127K	$386K	10x	as long as short
Extended W-USD	+0.0104%	1h	0.01179	−0.045%	$61K	$191K	5x	as long as short
Coinbase International W-PERP-INTX	+0.0440%	1h	0.01180	+0.086%	$14K	$13K	50x	as long as short
Backpack W_USDC_PERP	+0.1378%	1h	0.01181	+0.154%	$44K	$42K	15x	as long as short
Kraken Futures PF_WUSD	+0.1771%	1h	0.01182	+0.223%	$146K	$185K	20x	as long as short