Funding you earn now, next payment 08:00 UTC−0.0125%/8h= −13.6% APRnext payment −$1.25 per $10,000 · paid last 24h −0.027%
Price spread now: OKX against Binance−0.118%7-day average −0.044% · you buy dearer than you sell
Net, funding: paid 7d − costs−$191as in the Funding arb table
Net, price: spread back to 7d avg − costs−$194as in the Price arb table
costs, in and out, $10k−$1871.868% of the position
Funding, last 7 days−0.040%−$4 on $10k
+Price spread, last 2 days (all we have)+0.123%+$12 · spread now −0.118%, 7d avg −0.044%
=Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and OKX is 0.073% cheaper against Binance than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.044%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance CIENUSDT | 371.68 | 0.0125 | pay 0.0125% / 8h | 6h 20m | $536K | $1.2M | 20x |
| Short | OKX CIEN-USDT-SWAP | 371.24 | 0 | get 0.0000% / 8h | 6h 20m | $133K | $222K | 20x |
Binance CIENUSDT
OKX CIEN-USDT-SWAPFunding history
latest
Range statsloading…
Price spread between the two exchanges
OKX against Binance. 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
- −$26.17
- Price spread: −0.118% → −0.044%
- −$7.34
- Slippage, 4 orders
- −$166.78
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- −$220.3
- Costs to cover
- 1.868%
- Break-even
- never at this rate
Slippage from Binance: live order book, 12 min ago; OKX: live order book, 44 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 Binance live order book, 12 min ago | 3.23 bp | 12.1 bp −$12 | 70.6 bp −$706 | doesn't fit | doesn't fit |
| Sell OKX live order book, 44 min ago | 5.77 bp | 70.1 bp −$70 | doesn't fit | doesn't fit | doesn't fit |
CIEN 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 | |
|---|---|---|---|---|---|---|---|---|
| Bybit CIENUSDT | 0.0000% | 8h | 371.48 | −0.053% | $175K | $756K | 25x | as long as short |
| OKX CIEN-USDT-SWAPshort | 0.0000% | 8h | 371.24 | −0.118% | $133K | $222K | 20x | |
| Gate CIEN_USDT | 0.0000% | 8h | 371.60 | −0.021% | $304K | $37K | 20x | as long as short |
| Bitget CIENUSDT | 0.0000% | 8h | 371.72 | +0.011% | $93K | $221K | 20x | as long as short |
| QFEX CIEN-USD | +0.0018% | 1h | 371.39 | −0.078% | $1.1M | $4.5M | 10x | as long as short |
| Variational Omni CIEN | +0.0034% | 8h | 371.57 | −0.028% | $49K | $55K | — | as long as short |
| SunX CIEN-USDT | +0.0100% | 8h | 371.36 | −0.086% | $1K | $910K | 10x | as long as short |
| HTX CIEN-USDT | +0.0100% | 8h | 374.65 | +0.800% | $9K | $41K | 10x | as long as short |
| Binance CIENUSDTlong | +0.0125% | 8h | 371.68 | long leg | $536K | $1.2M | 20x | |
| KuCoin CIENUSDTM | +0.0349% | 8h | 371.32 | −0.096% | $99K | $183K | 20x | as long as short |
Bybit CIENUSDT
Gate CIEN_USDT
Bitget CIENUSDT
QFEX CIEN-USD
Variational Omni CIEN
SunX CIEN-USDT
HTX CIEN-USDT
KuCoin CIENUSDTMShow all 11 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Paragon para:CIEN | +0.2327% | 1h | 371.78 | +0.027% | $91K | $85K | 10x | as long as short |
Paragon para:CIEN