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% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: OKX against Gate+0.235%7-day average +0.023% · you sell dearer than you buy

Net, funding: paid 7d − costs−$243as in the Funding arb table

Net, price: spread back to 7d avg − costs−$221as in the Price arb table

costs, in and out, $10k−$2432.425% of the position

Long on Gate Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.005%−$1 on $10k

Price spread, last 4 days (all we have)−0.127%−$13 · spread now +0.235%, 7d avg +0.023%

Together, before fees−0.132%−$13 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 0.212% dearer against Gate than usual: you sell high and buy low, +$21 on $10k if it goes back to its 7-day average of +0.023%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate WAL_USDT	0.03405	0.0100	pay 0.0050% / 4h	2h 54m	$289K	$447K	50x
Short	OKX WAL-USDT-SWAP	0.03413	0.0100	get 0.0050% / 4h	2h 54m	$217K	$897K	10x

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 +0.235%Rate

Funding earned: $0
Price spread: +0.235% → +0.023%: $21.18
Slippage, 4 orders: −$217.5
Fee Gate: 7.5 bp × 2 orders: −$15
Fee OKX: 5 bp × 2 orders: −$10
Net: −$221.32
Costs to cover: 2.425%
Break-even: never at this rate

Slippage from Gate: live order book, 11 min ago; OKX: live order book, 12 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, 11 min ago	7.18 bp	62.2 bp −$62	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 12 min ago	5.74 bp	59.5 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	0.03408	+0.089%	$2.3M	$6.4M	75x	as long as short
Bybit WALUSDT	+0.0100%	4h	0.03412	+0.206%	$1.3M	$1.6M	25x	as long as short
OKX WAL-USDT-SWAPshort	+0.0100%	4h	0.03413	+0.235%	$217K	$897K	10x
Gate WAL_USDTlong	+0.0100%	4h	0.03405	long leg	$289K	$447K	50x
MEXC WAL_USDT	+0.0100%	4h	0.03409	+0.117%	$580K	$279K	20x	as long as short
KuCoin WALUSDTM	+0.0100%	4h	0.03410	+0.147%	$339K	$70K	30x	as long as short
Bitget WALUSDT	+0.0100%	4h	0.03414	+0.264%	$579K	$883K	20x	as long as short
BingX WAL-USDT	+0.0100%	4h	0.03408	+0.088%	—	$6.6M	—	as long as short
Variational Omni WAL	+0.0100%	4h	0.03412	+0.205%	$21K	$8K	—	as long as short
Bluefin WAL-PERP	+0.0283%	1h	0.03416	+0.323%	$32K	$764K	20x	as long as short