Funding arb · Price arb /

WAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.065%

Price spread now: OKX against Bybit−0.059%7-day average −0.096% · you buy dearer than you sell

Net, funding: paid 7d − costs−$212as in the Funding arb table

Net, price: spread back to 7d avg − costs−$238as in the Price arb table

costs, in and out, $10k−$2422.416% of the position

Long on Bybit Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.298%+$30 on $10k

Price spread, last 4 days (all we have)+0.002%$0 · spread now −0.059%, 7d avg −0.096%

Together, before fees+0.300%+$30 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 0.037% dearer against Bybit than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.096%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit WALUSDT	0.03380	0.0100	pay 0.0050% / 4h	1h 11m	$1.3M	$1.5M	25x
Short	OKX WAL-USDT-SWAP	0.03378	0.0100	get 0.0050% / 4h	1h 11m	$216K	$797K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Bybit. 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 BybitbpFee OKXbpOrdersPrice spread, now −0.059%Rate

Funding earned: $0
Price spread: −0.059% → −0.096%: $3.71
Slippage, 4 orders: −$220.64
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee OKX: 5 bp × 2 orders: −$10
Net: −$237.92
Costs to cover: 2.416%
Break-even: never at this rate

Slippage from Bybit: live order book, 5 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 Bybit live order book, 5 min ago	4.42 bp	57.3 bp −$57	427.7 bp −$4,277	doesn't fit	doesn't fit
Sell OKX live order book, 5 min ago	2.95 bp	60.3 bp −$60	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	0.03380	+0.004%	$2.2M	$6.1M	75x	as long as short
Bybit WALUSDTlong	+0.0100%	4h	0.03380	long leg	$1.3M	$1.5M	25x
OKX WAL-USDT-SWAPshort	+0.0100%	4h	0.03378	−0.059%	$216K	$797K	10x
Gate WAL_USDT	+0.0100%	4h	0.03374	−0.178%	$291K	$393K	50x	as long as short
MEXC WAL_USDT	+0.0100%	4h	0.03380	0.000%	$556K	$269K	20x	as long as short
KuCoin WALUSDTM	+0.0100%	4h	0.03380	0.000%	$337K	$72K	30x	as long as short
Bitget WALUSDT	+0.0100%	4h	0.03381	+0.030%	$561K	$825K	20x	as long as short
BingX WAL-USDT	+0.0100%	4h	0.03380	0.000%	—	$6.6M	—	as long as short
Variational Omni WAL	+0.0100%	4h	0.03392	+0.357%	$20K	$9K	—	as long as short
Bluefin WAL-PERP	+0.0481%	1h	0.03385	+0.148%	$32K	$749K	20x	as long as short