Funding arb · Price arb /

WCT

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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: BingX against OKX−0.118%7-day average +0.064% · you buy dearer than you sell

Net, funding: paid 7d − costs−$129as in the Funding arb table

Net, price: spread back to 7d avg − costs−$147as in the Price arb table

costs, in and out, $10k−$1291.292% of the position

Long on OKX Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.002%$0 on $10k

Price spread, last 4 days (all we have)+0.308%+$31 · spread now −0.118%, 7d avg +0.064%

Together, before fees+0.309%+$31 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: BingX is 0.183% cheaper against OKX than usual: you would sell low and buy high, −$18 on $10k if it goes back to its 7-day average of +0.064%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX WCT-USDT-SWAP	0.04233	0.0100	pay 0.0050% / 4h	2h 05m	$389K	$622K	20x
Short	BingX WCT-USDT	0.04228	0.0100	get 0.0050% / 4h	2h 05m	—	$6.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.118%Rate

Funding earned: $0
Price spread: −0.118% → +0.064%: −$18.26
Slippage, 4 orders: −$109.15
Fee OKX: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$147.41
Costs to cover: 1.292%
Break-even: never at this rate

Slippage from OKX: live order book, 60 min ago; BingX: live order book, 15 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, 60 min ago	4.72 bp	33.4 bp −$33	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 15 min ago	8.28 bp	24.0 bp −$24	98.2 bp −$982	661.8 bp −$66.2K	1031.3 bp −$515.7K

WCT 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
Hyperliquid WCT	+0.0100%	1h	0.04236	+0.069%	$195K	$267K	3x	as long as short
Binance WCTUSDT	+0.0100%	4h	0.04229	−0.089%	$1.9M	$2.5M	25x	as long as short
Bybit WCTUSDT	+0.0100%	4h	0.04227	−0.142%	$888K	$511K	25x	as long as short
OKX WCT-USDT-SWAPlong	+0.0100%	4h	0.04233	long leg	$389K	$622K	20x
Gate WCT_USDT	+0.0100%	8h	0.04229	−0.094%	$104K	$48K	25x	as long as short
MEXC WCT_USDT	+0.0100%	4h	0.04229	−0.094%	$420K	$133K	50x	as long as short
KuCoin WCTUSDTM	+0.0100%	4h	0.04230	−0.071%	$128K	$31K	25x	as long as short
Bitget WCTUSDT	+0.0100%	4h	0.04232	−0.024%	$423K	$340K	25x	as long as short
BingX WCT-USDTshort	+0.0100%	4h	0.04228	−0.118%	—	$6.5M	—
Variational Omni WCT	+0.0100%	4h	0.04224	−0.218%	$7K	$2K	—	as long as short