Funding arb · Price arb /

BX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0505%/8h= −55.3% APRpaid last 24h −0.006%

Price spread now: tradeXYZ against OKX−0.158%7-day average −0.090% · you buy dearer than you sell

Net, funding: paid 7d − costs−$174as in the Funding arb table

Net, price: spread back to 7d avg − costs−$183as in the Price arb table

costs, in and out, $10k−$1761.764% of the position

Long on OKX Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.029%+$3 on $10k

Price spread, last 4 days (all we have)−0.093%−$9 · spread now −0.158%, 7d avg −0.090%

Together, before fees−0.063%+ Points / potential airdroptradeXYZ: Active · farm board−$6 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$15 a day on $10k at the current rate, and tradeXYZ is 0.068% cheaper against OKX than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.090%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.029% in total (about 1.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX BX-USDT-SWAP	126.34	0	get 0.0000% / 8h	5h 02m	$164K	$113K	20x
Short	tradeXYZ xyz:BX	126.14	−0.0505	pay 0.0063% / 1h	2m 59s	$664K	$211K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.158%Rate

Funding earned: −$106.09
Price spread: −0.158% → −0.090%: −$6.81
Slippage, 4 orders: −$148.45
Fee OKX: 5 bp × 2 orders: −$10
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$289.34
Costs to cover: 1.764%
Break-even: never at this rate

Slippage from OKX: live order book, 57 min ago; tradeXYZ: live order book, 34 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, 57 min ago	9.10 bp	15.9 bp −$16	doesn't fit	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 34 min ago	3.17 bp	29.5 bp −$29	doesn't fit	doesn't fit	doesn't fit

BX on 14 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
tradeXYZ xyz:BXshort	−0.0505%	1h	126.14	−0.158%	$664K	$211K	10x
Aster BXUSDT	0.0000%	8h	126.22	−0.093%	$5K	$2K	20x	as long as short
Bybit BXUSDT	0.0000%	8h	126.24	−0.079%	$485K	$834K	25x	as long as short
OKX BX-USDT-SWAPlong	0.0000%	8h	126.34	long leg	$164K	$113K	20x
QFEX BX-USD	0.0000%	1h	127.05	+0.562%	$1.1M	$1.4M	10x	as long as short
Gate BX_USDT	0.0000%	8h	126.29	−0.040%	$423K	$27K	20x	as long as short
Bitget BXUSDT	0.0000%	8h	126.40	+0.047%	$898K	$36K	20x	as long as short
GRVT BX_USDT_Perp	0.0000%	8h	126.25	−0.070%	$1K	$111K	10x	as long as short
SunX BX-USDT	0.0000%	8h	126.20	−0.111%	$1K	$311K	10x	as long as short
HTX BX-USDT	0.0000%	8h	126.22	−0.095%	$7K	$3K	20x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective BX/USDC PERP	+0.0220%	1h	138.60	+9.704%	$4K	$32K	12x	as long as short
KuCoin BXUSDTM	+0.0306%	8h	126.02	−0.253%	$114K	$973K	20x	as long as short
Variational Omni BX	+0.0653%	8h	126.19	−0.118%	$43K	$12K	—	as long as short
Binance BXUSDT	+0.0885%	8h	126.23	−0.085%	$782K	$483K	20x	as long as short