Funding arb · Price arb /

BE

RWAall BE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0010%/8h= +1.1% APRpaid last 24h −0.046%

Price spread now: OKX against Coinbase International+0.463%7-day average +0.281% · you sell dearer than you buy

Net, funding: paid 7d − costs−$72as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$490.489% of the position

Long on Coinbase International Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.228%−$23 on $10k

Price spread, last 3 days (all we have)−0.347%−$35 · spread now +0.463%, 7d avg +0.281%

Together, before fees−0.575%−$57 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and OKX is 0.181% dearer against Coinbase International than usual: you sell high and buy low: +$18 more if the spread goes back to its 7-day average of +0.281%. Mind the row above: over the last 7 days funding on this pair cost −0.228%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International BE-PERP-INTX	272.24	0.0064	pay 0.0008% / 1h	27m 32s	$467K	$121K	10x
Short	OKX BE-USDT-SWAP	273.50	0.0074	get 0.0074% / 8h	1h 27m	$2.6M	$6.8M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Coinbase International. 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 Coinbase InternationalbpFee OKXbpOrdersPrice spread, now +0.463%Rate

Funding earned: $2.18
Price spread: +0.463% → +0.281%: $18.14
Slippage, 4 orders: −$28.91
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$28.58
Costs to cover: 0.489%
Break-even: 98.7 days

Slippage from Coinbase International: live order book, 56 min ago; OKX: live order book, 5 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 Coinbase International live order book, 56 min ago	5.14 bp	11.2 bp −$11	22.5 bp −$225	doesn't fit	doesn't fit
Sell OKX live order book, 5 min ago	0.91 bp	20.1 bp −$20	75.4 bp −$754	doesn't fit	doesn't fit

BE on 21 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
Aster BEUSDT	0.0000%	8h	273.20	+0.354%	$344K	$117K	20x	as long as short
Extended BE-USD	0.0000%	1h	273.37	+0.416%	$46K	$270K	10x	as long as short
Binance BEUSDT	0.0000%	8h	273.42	+0.432%	$8.5M	$37.4M	25x	as long as short
Bybit BEUSDT	0.0000%	8h	273.35	+0.408%	$2.0M	$1.2M	25x	as long as short
Gate BE_USDT	0.0000%	8h	273.20	+0.353%	$1.5M	$3.7M	50x	as long as short
Bitget BEUSDT	0.0000%	8h	273.25	+0.371%	$1.7M	$2.7M	20x	as long as short
GRVT BE_USDT_Perp	0.0000%	8h	273.37	+0.415%	$7K	$191K	10x	as long as short
SunX BE-USDT	0.0000%	8h	273.51	+0.467%	$1K	$2.6M	10x	as long as short
HTX BE-USDT	0.0000%	8h	273.40	+0.426%	$13K	$33K	20x	as long as short
Lighter BE	+0.0032%	1h	273.12	+0.323%	—	—	10x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH BE	+0.0032%	1h	273.31	+0.393%	$249K	$424K	10x	as long as short
QFEX BE-USD	+0.0035%	1h	273.32	+0.397%	$1.3M	$3.8M	10x	as long as short
Arcus BE-USD	+0.0040%	1h	273.15	+0.334%	$114K	$134K	10x	as long as short
Vest BE-USD-PERP	+0.0046%	1h	273.17	+0.342%	—	—	10x	as long as short
Coinbase International BE-PERP-INTXlong	+0.0064%	1h	272.24	long leg	$467K	$121K	10x
OKX BE-USDT-SWAPshort	+0.0074%	8h	273.50	+0.463%	$2.6M	$6.8M	25x
KuCoin BEUSDTM	+0.0100%	8h	273.12	+0.323%	$369K	$23K	20x	as long as short
Aevo BE-PERP	+0.0104%	1h	273.42	+0.433%	—	—	10x	as long as short
BloFin BE-USDT	+0.0120%	8h	273.42	+0.433%	$45K	$141K	20x	as long as short
tradeXYZ xyz:BE	+0.0165%	1h	273.21	+0.356%	$5.9M	$2.9M	10x	as long as short
Deribit BE_USDC-PERPETUAL	+0.0775%	1h	273.43	+0.437%	$6K	$4K	10x	as long as short