Funding arb · Price arb /

WAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.039%

Price spread now: OKX against Bluefin−0.113%7-day average −0.215% · you buy dearer than you sell

Net, funding: paid 7d − costs−$265as in the Funding arb table

Net, price: spread back to 7d avg − costs−$400as in the Price arb table

costs, in and out, $10k−$4104.101% of the position

Long on Bluefin Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+1.455%+$145 on $10k

Price spread, last 4 days (all we have)−0.638%−$64 · spread now −0.113%, 7d avg −0.215%

Together, before fees+0.817%+$82 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 0.103% dearer against Bluefin than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of −0.215%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bluefin WAL-PERP	0.03550	0.0100	pay 0.0013% / 1h	26m 07s	$32K	$643K	20x
Short	OKX WAL-USDT-SWAP	0.03546	0.0100	get 0.0050% / 4h	26m 07s	$219K	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Bluefin. 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 BluefinbpFee OKXbpOrdersPrice spread, now −0.113%Rate

Funding earned: $0
Price spread: −0.113% → −0.215%: $10.26
Slippage, 4 orders: −$393.13
Fee Bluefin: 3.5 bp × 2 orders: −$7
Fee OKX: 5 bp × 2 orders: −$10
Net: −$399.88
Costs to cover: 4.101%
Break-even: never at this rate

Slippage from Bluefin: live order book, 33 min ago; OKX: live order book, just now.

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 Bluefin live order book, 33 min ago	2.85 bp	164.5 bp −$164	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, just now	2.82 bp	54.1 bp −$54	doesn't fit	doesn't fit	doesn't fit

WAL on 10 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 WALUSDT	+0.0100%	4h	0.03548	−0.056%	$2.4M	$6.9M	75x	as long as short
Bybit WALUSDT	+0.0100%	4h	0.03553	+0.085%	$1.4M	$1.8M	25x	as long as short
OKX WAL-USDT-SWAPshort	+0.0100%	4h	0.03546	−0.113%	$219K	$1.1M	10x
Gate WAL_USDT	+0.0100%	4h	0.03549	−0.028%	$297K	$555K	50x	as long as short
MEXC WAL_USDT	+0.0100%	4h	0.03547	−0.085%	$623K	$295K	20x	as long as short
KuCoin WALUSDTM	+0.0100%	4h	0.03550	0.000%	$349K	$66K	30x	as long as short
Bitget WALUSDT	+0.0100%	4h	0.03552	+0.056%	$611K	$938K	20x	as long as short
BingX WAL-USDT	+0.0100%	4h	0.03551	+0.028%	—	$6.6M	—	as long as short
Variational Omni WAL	+0.0100%	4h	0.03549	−0.033%	$23K	$9K	—	as long as short
Bluefin WAL-PERPlong	+0.0100%	1h	0.03550	long leg	$32K	$643K	20x