Funding arb · Price arb /

BE

RWAall BE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0103%/8h= −11.3% APRpaid last 24h +0.007%

Price spread now: Coinbase International against OKX−0.878%7-day average −0.286% · you buy dearer than you sell

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs−$114as in the Price arb table

costs, in and out, $10k−$550.550% of the position

Long on OKX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.201%+$20 on $10k

Price spread, last 4 days (all we have)+1.066%+$107 · spread now −0.878%, 7d avg −0.286%

Together, before fees+1.267%+$127 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Coinbase International is 0.593% cheaper against OKX than usual: you would sell low and buy high (−$59 if the spread goes back to its 7-day average of −0.286%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.201%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX BE-USDT-SWAP	275.50	0.0119	pay 0.0119% / 8h	5h 32m	$2.6M	$6.8M	25x
Short	Coinbase International BE-PERP-INTX	273.08	0.0016	get 0.0002% / 1h	32m 00s	$473K	$130K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.878%Rate

Funding earned: −$21.64
Price spread: −0.878% → −0.286%: −$59.28
Slippage, 4 orders: −$35.03
Fee OKX: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$135.95
Costs to cover: 0.550%
Break-even: never at this rate

Slippage from OKX: live order book, 1 min ago; Coinbase International: live order book, 31 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, 1 min ago	2.18 bp	14.3 bp −$14	90.4 bp −$904	doesn't fit	doesn't fit
Sell Coinbase International live order book, 31 min ago	5.65 bp	11.9 bp −$12	18.1 bp −$181	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	275.14	−0.129%	$346K	$119K	20x	as long as short
Bybit BEUSDT	0.0000%	8h	275.59	+0.033%	$2.0M	$1.1M	25x	as long as short
Gate BE_USDT	0.0000%	8h	275.10	−0.145%	$1.5M	$3.3M	50x	as long as short
Bitget BEUSDT	0.0000%	8h	275.32	−0.065%	$1.7M	$2.6M	20x	as long as short
GRVT BE_USDT_Perp	0.0000%	8h	275.44	−0.022%	$7K	$164K	10x	as long as short
SunX BE-USDT	0.0000%	8h	275.40	−0.036%	$1K	$2.4M	10x	as long as short
HTX BE-USDT	0.0000%	8h	275.42	−0.029%	$13K	$34K	20x	as long as short
QFEX BE-USD	+0.0012%	1h	275.36	−0.051%	$1.3M	$2.8M	10x	as long as short
Coinbase International BE-PERP-INTXshort	+0.0016%	1h	273.08	−0.878%	$473K	$130K	10x
Lighter BE	+0.0032%	1h	275.25	−0.091%	—	—	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	275.25	−0.091%	$251K	$289K	10x	as long as short
Arcus BE-USD	+0.0040%	1h	275.09	−0.149%	$115K	$109K	10x	as long as short
Vest BE-USD-PERP	+0.0046%	1h	275.34	−0.058%	—	—	10x	as long as short
tradeXYZ xyz:BE	+0.0050%	1h	275.16	−0.123%	$5.9M	$2.8M	10x	as long as short
Binance BEUSDT	+0.0072%	8h	275.43	−0.027%	$8.4M	$36.1M	25x	as long as short
Extended BE-USD	+0.0072%	1h	275.34	−0.059%	$47K	$265K	10x	as long as short
KuCoin BEUSDTM	+0.0100%	8h	275.32	−0.065%	$372K	$22K	20x	as long as short
Aevo BE-PERP	+0.0104%	1h	275.37	−0.047%	—	—	10x	as long as short
OKX BE-USDT-SWAPlong	+0.0119%	8h	275.50	long leg	$2.6M	$6.8M	25x
Deribit BE_USDC-PERPETUAL	+0.0186%	1h	275.40	−0.036%	$7K	$4K	10x	as long as short
BloFin BE-USDT	+0.0192%	8h	275.48	−0.007%	$45K	$141K	20x	as long as short