Funding arb · Price arb /

COST

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.002%

Price spread now: Bybit against OKX−0.087%7-day average −0.050% · you buy dearer than you sell

Net, funding: paid 7d − costs−$68as in the Funding arb table

Net, price: spread back to 7d avg − costs−$71as in the Price arb table

costs, in and out, $10k−$670.674% of the position

Long on OKX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.002%$0 on $10k

Price spread, last 4 days (all we have)+0.016%+$2 · spread now −0.087%, 7d avg −0.050%

Together, before fees+0.014%+$1 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.037% cheaper against OKX than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.050%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX COST-USDT-SWAP	899.38	0	get 0.0000% / 8h	6h 01m	$444K	$107K	10x
Short	Bybit COSTUSDT	898.60	0	get 0.0000% / 8h	6h 01m	$491K	$218K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.087%Rate

Funding earned: $0
Price spread: −0.087% → −0.050%: −$3.68
Slippage, 4 orders: −$46.37
Fee OKX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$71.05
Costs to cover: 0.674%
Break-even: never at this rate

Slippage from OKX: live order book, 64 min ago; Bybit: live order book, 58 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, 64 min ago	1.78 bp	10.8 bp −$11	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 58 min ago	4.95 bp	21.6 bp −$22	196.7 bp −$1,967	doesn't fit	doesn't fit

COST on 15 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 COSTUSDT	0.0000%	8h	898.88	−0.056%	$45K	$178	20x	as long as short
Bybit COSTUSDTshort	0.0000%	8h	898.60	−0.087%	$491K	$218K	25x
OKX COST-USDT-SWAPlong	0.0000%	8h	899.38	long leg	$444K	$107K	10x
Gate COST_USDT	0.0000%	8h	899.16	−0.024%	$520K	$8K	25x	as long as short
Bitget COSTUSDT	0.0000%	8h	898.90	−0.053%	$403K	$110K	25x	as long as short
SunX COST-USDT	0.0000%	8h	898.30	−0.120%	$1K	$3.0M	10x	as long as short
HTX COST-USDT	0.0000%	8h	900.60	+0.136%	$10K	$42K	10x	as long as short
QFEX COST-USD	+0.0009%	1h	898.90	−0.053%	$1.1M	$2.9M	10x	as long as short
Injective COST/USDC PERP	+0.0033%	1h	891.98	−0.823%	$2K	$28K	12x	as long as short
Extended COST-USD	+0.0040%	1h	898.25	−0.126%	—	—	10x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest COST-USD-PERP	+0.0046%	1h	898.82	−0.062%	—	—	25x	as long as short
tradeXYZ xyz:COST	+0.0050%	1h	898.70	−0.076%	$1.8M	$515K	20x	as long as short
KuCoin COSTUSDTM	+0.0100%	8h	897.90	−0.165%	$47K	$871K	20x	as long as short
Variational Omni COST	+0.0135%	8h	898.73	−0.073%	$42K	$17K	—	as long as short
Binance COSTUSDT	+0.0255%	8h	899.03	−0.039%	$1.1M	$928K	20x	as long as short