Funding arb · Price arb /

WAL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.052%

Price spread now: Bluefin against OKX0.000%7-day average +0.218% · you sell dearer than you buy

Net, funding: paid 7d − costs−$546as in the Funding arb table

Net, price: spread back to 7d avg − costs−$422as in the Price arb table

costs, in and out, $10k−$4014.006% of the position

Long on OKX Short on Bluefin

What this pair did over the last

the charts below follow

Funding, last 7 days−1.453%−$145 on $10k

Price spread, last 4 days (all we have)+1.303%+$130 · spread now 0.000%, 7d avg +0.218%

Together, before fees−0.150%−$15 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: Bluefin is 0.218% cheaper against OKX than usual: you would sell low and buy high, −$22 on $10k if it goes back to its 7-day average of +0.218%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX WAL-USDT-SWAP	0.03522	0.0100	pay 0.0050% / 4h	1h 13m	$217K	$1.0M	10x
Short	Bluefin WAL-PERP	0.03522	0.0100	get 0.0013% / 1h	13m 43s	$32K	$793K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bluefin 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 BluefinbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → +0.218%: −$21.83
Slippage, 4 orders: −$383.55
Fee OKX: 5 bp × 2 orders: −$10
Fee Bluefin: 3.5 bp × 2 orders: −$7
Net: −$422.39
Costs to cover: 4.006%
Break-even: never at this rate

Slippage from OKX: live order book, 3 min ago; Bluefin: live order book, 50 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, 3 min ago	2.84 bp	57.0 bp −$57	doesn't fit	doesn't fit	doesn't fit
Sell Bluefin live order book, 50 min ago	2.89 bp	136.7 bp −$137	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	0.03521	−0.033%	$2.4M	$6.7M	75x	as long as short
Bybit WALUSDT	+0.0100%	4h	0.03521	−0.028%	$1.3M	$1.7M	25x	as long as short
OKX WAL-USDT-SWAPlong	+0.0100%	4h	0.03522	long leg	$217K	$1.0M	10x
Gate WAL_USDT	+0.0100%	4h	0.03517	−0.142%	$296K	$519K	50x	as long as short
MEXC WAL_USDT	+0.0100%	4h	0.03520	−0.057%	$591K	$291K	20x	as long as short
KuCoin WALUSDTM	+0.0100%	4h	0.03524	+0.057%	$347K	$66K	30x	as long as short
Bitget WALUSDT	+0.0100%	4h	0.03521	−0.028%	$610K	$921K	20x	as long as short
BingX WAL-USDT	+0.0100%	4h	0.03521	−0.028%	—	$6.6M	—	as long as short
Variational Omni WAL	+0.0100%	4h	0.03530	+0.222%	$23K	$9K	—	as long as short
Bluefin WAL-PERPshort	+0.0100%	1h	0.03522	0.000%	$32K	$793K	20x