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: Binance against OKX+0.139%7-day average +0.029% · you sell dearer than you buy

Net, funding: paid 7d − costs−$150as in the Funding arb table

Net, price: spread back to 7d avg − costs−$140as in the Price arb table

costs, in and out, $10k−$1511.508% of the position

Long on OKX Short on Binance

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)−0.207%−$21 · spread now +0.139%, 7d avg +0.029%

Together, before fees−0.202%−$20 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: Binance is 0.110% dearer against OKX than usual: you sell high and buy low, +$11 on $10k if it goes back to its 7-day average of +0.029%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX WAL-USDT-SWAP	0.03525	0.0100	pay 0.0050% / 4h	1h 16m	$218K	$1.0M	10x
Short	Binance WALUSDT	0.03530	0.0100	get 0.0050% / 4h	1h 16m	$2.4M	$6.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against OKX. 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 OKXbpFee BinancebpOrdersPrice spread, now +0.139%Rate

Funding earned: $0
Price spread: +0.139% → +0.029%: $10.99
Slippage, 4 orders: −$130.84
Fee OKX: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$139.86
Costs to cover: 1.508%
Break-even: never at this rate

Slippage from OKX: live order book, 45 min ago; Binance: live order book, 7 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 OKX live order book, 45 min ago	2.90 bp	50.2 bp −$50	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 7 min ago	1.42 bp	21.9 bp −$22	108.4 bp −$1,084	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 WALUSDTshort	+0.0100%	4h	0.03530	+0.139%	$2.4M	$6.7M	75x
Bybit WALUSDT	+0.0100%	4h	0.03530	+0.142%	$1.3M	$1.7M	25x	as long as short
OKX WAL-USDT-SWAPlong	+0.0100%	4h	0.03525	long leg	$218K	$1.0M	10x
Gate WAL_USDT	+0.0100%	4h	0.03526	+0.028%	$297K	$518K	50x	as long as short
MEXC WAL_USDT	+0.0100%	4h	0.03529	+0.113%	$599K	$290K	20x	as long as short
KuCoin WALUSDTM	+0.0100%	4h	0.03534	+0.255%	$348K	$66K	30x	as long as short
Bitget WALUSDT	+0.0100%	4h	0.03527	+0.057%	$613K	$920K	20x	as long as short
BingX WAL-USDT	+0.0100%	4h	0.03530	+0.142%	—	$6.6M	—	as long as short
Variational Omni WAL	+0.0100%	4h	0.03529	+0.109%	$23K	$9K	—	as long as short
Bluefin WAL-PERP	+0.0100%	1h	0.03535	+0.284%	$32K	$794K	20x	as long as short