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 0.000%

Price spread now: Bitget against OKX+0.266%7-day average +0.097% · you sell dearer than you buy

Net, funding: paid 7d − costs−$199as in the Funding arb table

Net, price: spread back to 7d avg − costs−$161as in the Price arb table

costs, in and out, $10k−$1781.776% of the position

Long on OKX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.217%−$22 on $10k

Price spread, last 4 days (all we have)−0.265%−$27 · spread now +0.266%, 7d avg +0.097%

Together, before fees−0.482%−$48 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: Bitget is 0.168% dearer against OKX than usual: you sell high and buy low, +$17 on $10k if it goes back to its 7-day average of +0.097%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX WAL-USDT-SWAP	0.03388	0.0100	pay 0.0050% / 4h	35m 27s	$218K	$825K	10x
Short	Bitget WALUSDT	0.03397	0.0100	get 0.0050% / 4h	35m 27s	$562K	$839K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.266%Rate

Funding earned: $0
Price spread: +0.266% → +0.097%: $16.84
Slippage, 4 orders: −$155.56
Fee OKX: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$160.72
Costs to cover: 1.776%
Break-even: never at this rate

Slippage from OKX: live order book, 41 min ago; Bitget: live order book, 40 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, 41 min ago	2.95 bp	69.7 bp −$70	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 40 min ago	2.95 bp	20.9 bp −$21	98.3 bp −$983	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	0.03390	+0.059%	$2.2M	$6.1M	75x	as long as short
Bybit WALUSDT	+0.0100%	4h	0.03392	+0.118%	$1.3M	$1.5M	25x	as long as short
OKX WAL-USDT-SWAPlong	+0.0100%	4h	0.03388	long leg	$218K	$825K	10x
Gate WAL_USDT	+0.0100%	4h	0.03388	0.000%	$294K	$406K	50x	as long as short
MEXC WAL_USDT	+0.0100%	4h	0.03391	+0.089%	$557K	$269K	20x	as long as short
KuCoin WALUSDTM	+0.0100%	4h	0.03399	+0.325%	$339K	$72K	30x	as long as short
Bitget WALUSDTshort	+0.0100%	4h	0.03397	+0.266%	$562K	$839K	20x
BingX WAL-USDT	+0.0100%	4h	0.03392	+0.118%	—	$6.6M	—	as long as short
Variational Omni WAL	+0.0100%	4h	0.03392	+0.121%	$20K	$7K	—	as long as short
Bluefin WAL-PERP	+0.0339%	1h	0.03394	+0.177%	$32K	$755K	20x	as long as short