Funding arb · Price arb /

EWZ

RWAall EWZ markets

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 −0.011%

Price spread now: Bybit against OKX−0.053%7-day average +0.034% · you buy dearer than you sell

Net, funding: paid 7d − costs−$326as in the Funding arb table

Net, price: spread back to 7d avg − costs−$333as in the Price arb table

costs, in and out, $10k−$3253.247% of the position

Long on OKX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.011%−$1 on $10k

Price spread, last 4 days (all we have)+0.232%+$23 · spread now −0.053%, 7d avg +0.034%

Together, before fees+0.221%+$22 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 0.086% cheaper against OKX than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of +0.034%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX EWZ-USDT-SWAP	37.930	0	get 0.0000% / 8h	2h 51m	$124K	$38K	20x
Short	Bybit EWZUSDT	37.910	0	get 0.0000% / 8h	2h 51m	$327K	$15K	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 −0.053%Rate

Funding earned: $0
Price spread: −0.053% → +0.034%: −$8.63
Slippage, 4 orders: −$303.73
Fee OKX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$333.36
Costs to cover: 3.247%
Break-even: never at this rate

Slippage from OKX: live order book, 58 min ago; Bybit: live order book, 53 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, 58 min ago	6.57 bp	22.1 bp −$22	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 53 min ago	14.48 bp	60.8 bp −$61	doesn't fit	doesn't fit	doesn't fit

EWZ on 13 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:EWZ	−0.0988%	1h	37.938	+0.021%	$592K	$81K	20x	as long as short
Aster EWZUSDT	0.0000%	8h	37.903	−0.072%	$9K	$50	20x	as long as short
Binance EWZUSDT	0.0000%	8h	37.900	−0.079%	$295K	$228K	20x	as long as short
Bybit EWZUSDTshort	0.0000%	8h	37.910	−0.053%	$327K	$15K	25x
OKX EWZ-USDT-SWAPlong	0.0000%	8h	37.930	long leg	$124K	$38K	20x
Gate EWZ_USDT	0.0000%	8h	37.890	−0.105%	$60K	$7K	20x	as long as short
MEXC EWZ_USDT	0.0000%	8h	37.920	−0.026%	$721K	$80K	50x	as long as short
Bitget EWZUSDT	0.0000%	8h	37.901	−0.076%	$77K	$22K	20x	as long as short
Variational Omni EWZ	0.0000%	8h	37.883	−0.123%	$49K	$6K	—	as long as short
GRVT EWZ_USDT_Perp	0.0000%	8h	37.886	−0.115%	$3	$137K	10x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX EWZ-USDT	0.0000%	8h	37.880	−0.132%	$803	$471K	10x	as long as short
HTX EWZ-USDT	0.0000%	8h	37.850	−0.211%	$5K	$7K	10x	as long as short
KuCoin EWZUSDTM	+0.0009%	8h	37.830	−0.264%	$24K	$716K	20x	as long as short