Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0862%/8h= +94.4% APRpaid last 24h +0.141%

Price spread now: OKX against Deribit0.000%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Deribit Short on OKX

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$26 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit W_USDC-PERPETUAL	0.01171	−0.0859	get 0.0107% / 1h	33m 11s	$17K	$1K	10x
Short	OKX W-USDT-SWAP	0.01171	0.0003	get 0.0002% / 4h	2h 33m	$1.3M	$2.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Deribit. 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 DeribitbpFee OKXbpOrdersPrice spread, now 0.000%Rate

Funding earned: $181.05
Price spread: 0.000% → 0.000%: $0
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee OKX: 5 bp × 2 orders: −$10
Net: $164.05
Costs to cover: 0.170%
Break-even: 0.7 days

Slippage unknown: Deribit: no order-book sample; OKX: live order book, 4 min ago. Net counts fees only.

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 Deribit no order-book sample	—	—	—	—	—
Sell OKX live order book, 4 min ago	1.28 bp	31.8 bp −$32	doesn't fit	doesn't fit	doesn't fit

Deribit: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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-PERPETUALlong	−0.0859%	1h	0.01171	long leg	$17K	$1K	10x
OKX W-USDT-SWAPshort	+0.0003%	4h	0.01171	0.000%	$1.3M	$2.1M	20x
Injective W/USDC PERP	+0.0033%	1h	0.01209	+3.219%	$1K	$1K	12x	as long as short
Hyperliquid W	+0.0100%	1h	0.01173	+0.145%	$2.0M	$460K	5x	as long as short
Binance WUSDT	+0.0100%	4h	0.01172	+0.085%	$2.9M	$7.6M	50x	as long as short
Bybit WUSDT	+0.0100%	4h	0.01171	−0.043%	$4.1M	$2.1M	50x	as long as short
Gate W_USDT	+0.0100%	4h	0.01170	−0.111%	$443K	$301K	75x	as long as short
MEXC W_USDT	+0.0100%	4h	0.01173	+0.111%	$12.8M	$1.7M	50x	as long as short
KuCoin WUSDTM	+0.0100%	4h	0.01169	−0.196%	$419K	$216K	50x	as long as short
Bitget WUSDT	+0.0100%	4h	0.01172	+0.060%	$1.3M	$570K	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	0.01172	+0.034%	—	$6.9M	—	as long as short
Backpack W_USDC_PERP	+0.0100%	1h	0.01173	+0.162%	$44K	$47K	15x	as long as short
Variational Omni W	+0.0100%	4h	0.01170	−0.149%	$71K	$42K	—	as long as short
GRVT W_USDT_Perp	+0.0100%	4h	0.01172	+0.038%	$122K	$409K	10x	as long as short
Extended W-USD	+0.0104%	1h	0.01171	−0.064%	$59K	$276K	5x	as long as short
Coinbase International W-PERP-INTX	+0.0296%	1h	0.01173	+0.154%	$14K	$18K	50x	as long as short
Kraken Futures PF_WUSD	+0.0620%	1h	0.01174	+0.192%	$145K	$185K	20x	as long as short