Funding you earn now, next payment 00:00 UTC+0.0055%/8h= +6.0% APRpaid last 24h +0.029%
Price spread now: OKX against Bybit−0.126%7-day average −0.055% · you buy dearer than you sell
Net, funding: paid 7d − costs−$142as in the Funding arb table
Net, price: spread back to 7d avg − costs−$184as in the Price arb table
costs, in and out, $10k−$1771.766% of the position
Funding, last 7 days+0.349%+$35 on $10k
+Price spread, last 4 days (all we have)+0.071%+$7 · spread now −0.126%, 7d avg −0.055%
=Funding pays, the price is against you. OKX is 0.070% cheaper against Bybit than usual: you would sell low and buy high (spread −0.126% now, against its 7-day average of −0.055%). If the spread goes back, that is −$7 on $10k: about 4.2 days of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.349% in total) that is about 34 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit ZRXUSDT | 0.1194 | 0.0045 | pay 0.0045% / 8h | 0m 59s | $1.4M | $339K | 25x |
| Short | OKX ZRX-USDT-SWAP | 0.1192 | 0.0100 | get 0.0050% / 4h | 0m 59s | $530K | $266K | 20x |
Bybit ZRXUSDT
OKX ZRX-USDT-SWAPFunding history
latest
Range statsloading…
Price spread between the two exchanges
OKX against Bybit. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $11.57
- Price spread: −0.126% → −0.055%
- −$7.02
- Slippage, 4 orders
- −$155.57
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- −$172.02
- Costs to cover
- 1.766%
- Break-even
- 111.1 days
Slippage from Bybit: live order book, 5 min ago; OKX: live order book, 10 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 Bybit live order book, 5 min ago | 6.30 bp | 54.3 bp −$54 | 200.5 bp −$2,005 | doesn't fit | doesn't fit |
| Sell OKX live order book, 10 min ago | 1.68 bp | 32.7 bp −$33 | doesn't fit | doesn't fit | doesn't fit |
ZRX on 11 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 | |
|---|---|---|---|---|---|---|---|---|
| KuCoin ZRXUSDTM | −0.0144% | 4h | 0.1192 | −0.159% | $327K | $60K | 30x | as long as short |
| Bybit ZRXUSDTlong | +0.0045% | 8h | 0.1194 | long leg | $1.4M | $339K | 25x | |
| BloFin ZRX-USDT | +0.0092% | 4h | 0.1194 | +0.008% | $94K | $19K | 50x | as long as short |
| Binance ZRXUSDT | +0.0100% | 4h | 0.1194 | −0.014% | $1.8M | $1.2M | 50x | as long as short |
| OKX ZRX-USDT-SWAPshort | +0.0100% | 4h | 0.1192 | −0.126% | $530K | $266K | 20x | |
| Gate ZRX_USDT | +0.0100% | 8h | 0.1192 | −0.151% | $145K | $41K | 75x | as long as short |
| MEXC ZRX_USDT | +0.0100% | 4h | 0.1193 | −0.075% | $894K | $162K | 50x | as long as short |
| Bitget ZRXUSDT | +0.0100% | 4h | 0.1193 | −0.075% | $579K | $118K | 50x | as long as short |
| BingX ZRX-USDT | +0.0100% | 4h | 0.1193 | −0.075% | — | $2.3M | — | as long as short |
| Variational Omni ZRX | +0.0100% | 8h | 0.1193 | −0.039% | $23K | $41K | — | as long as short |
KuCoin ZRXUSDTM
BloFin ZRX-USDT
Binance ZRXUSDT
Gate ZRX_USDT
MEXC ZRX_USDT
Bitget ZRXUSDT
BingX ZRX-USDT
Variational Omni ZRXShow all 11 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_ZRXUSD | +0.1203% | 1h | 0.1196 | +0.171% | $39K | $4K | 10x | as long as short |
Kraken Futures PF_ZRXUSD