Funding arb · Price arb /

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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 −0.032%

Price spread now: OKX against Gate+0.168%7-day average +0.036% · you sell dearer than you buy

Net, funding: paid 7d − costs−$789as in the Funding arb table

Net, price: spread back to 7d avg − costs−$770as in the Price arb table

costs, in and out, $10k−$7837.834% of the position

Long on Gate Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.058%−$6 on $10k

Price spread, last 4 days (all we have)+0.200%+$20 · spread now +0.168%, 7d avg +0.036%

Together, before fees+0.141%+$14 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 0.132% dearer against Gate than usual: you sell high and buy low, +$13 on $10k if it goes back to its 7-day average of +0.036%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate W_USDT	0.01190	0.0100	pay 0.0050% / 4h	1h 17m	$451K	$253K	75x
Short	OKX W-USDT-SWAP	0.01192	0.0100	get 0.0050% / 4h	1h 17m	$1.3M	$1.9M	20x

Funding 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 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 GatebpFee OKXbpOrdersPrice spread, now +0.168%Rate

Funding earned: $0
Price spread: +0.168% → +0.036%: $13.17
Slippage, 4 orders: −$758.39
Fee Gate: 7.5 bp × 2 orders: −$15
Fee OKX: 5 bp × 2 orders: −$10
Net: −$770.22
Costs to cover: 7.834%
Break-even: never at this rate

Slippage from Gate: live order book, 44 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 Gate live order book, 44 min ago	8.90 bp	303.4 bp −$303	31090.2 bp −$310.9K	doesn't fit	doesn't fit
Sell OKX live order book, 5 min ago	2.94 bp	33.7 bp −$34	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	0.01193	+0.261%	$16K	$2K	10x	as long as short
Injective W/USDC PERP	+0.0033%	1h	0.01209	+1.597%	$1K	$1K	12x	as long as short
Hyperliquid W	+0.0100%	1h	0.01192	+0.168%	$2.0M	$383K	5x	as long as short
Binance WUSDT	+0.0100%	4h	0.01193	+0.264%	$3.0M	$6.6M	50x	as long as short
Bybit WUSDT	+0.0100%	4h	0.01191	+0.101%	$4.2M	$1.9M	50x	as long as short
OKX W-USDT-SWAPshort	+0.0100%	4h	0.01192	+0.168%	$1.3M	$1.9M	20x
Gate W_USDTlong	+0.0100%	4h	0.01190	long leg	$451K	$253K	75x
MEXC W_USDT	+0.0100%	4h	0.01193	+0.261%	$12.9M	$1.4M	50x	as long as short
KuCoin WUSDTM	+0.0100%	4h	0.01192	+0.168%	$385K	$214K	50x	as long as short
Bitget WUSDT	+0.0100%	4h	0.01193	+0.252%	$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	0.01193	+0.235%	—	$6.8M	—	as long as short
Variational Omni W	+0.0100%	4h	0.01191	+0.057%	$72K	$41K	—	as long as short
GRVT W_USDT_Perp	+0.0100%	4h	0.01192	+0.163%	$127K	$413K	10x	as long as short
Extended W-USD	+0.0104%	1h	0.01193	+0.220%	$61K	$237K	5x	as long as short
Coinbase International W-PERP-INTX	+0.0312%	1h	0.01193	+0.252%	$14K	$16K	50x	as long as short
Backpack W_USDC_PERP	+0.0650%	1h	0.01195	+0.395%	$44K	$45K	15x	as long as short
Kraken Futures PF_WUSD	+0.1700%	1h	0.01195	+0.455%	$148K	$184K	20x	as long as short