Funding you earn now, next payment 08:00 UTC−0.0290%/8h= −31.8% APRnext payment −$2.90 per $10,000 · paid last 24h −0.013%
Price spread now: OKX against Bybit−0.149%7-day average −0.090% · you buy dearer than you sell
Net, funding: paid 7d − costs−$470as in the Funding arb table
Net, price: spread back to 7d avg − costs−$473as in the Price arb table
costs, in and out, $10k−$4674.670% of the position
Funding, last 7 days−0.033%−$3 on $10k
+Price spread, last 4 days (all we have)+0.136%+$14 · spread now −0.149%, 7d avg −0.090%
=Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and OKX is 0.059% cheaper against Bybit than usual: you would sell low and buy high (−$6 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 -0.033% in total (about -1.7% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.90 per $10,000. 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 | Bybit FWDIUSDT | 8.0410 | −0.0111 | get 0.0111% / 8h | 1h 40m | $360K | $304K | 25x |
| Short | OKX FWDI-USDT-SWAP | 8.0290 | −0.0401 | pay 0.0401% / 8h | 1h 40m | $319K | $246K | 10x |
Bybit FWDIUSDT
OKX FWDI-USDT-SWAPFunding history
latest
Range statsloading…
Price spread between the two exchanges
OKX against Bybit. 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
- −$60.89
- Price spread: −0.149% → −0.090%
- −$5.93
- Slippage, 4 orders
- −$446.01
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- −$533.84
- Costs to cover
- 4.670%
- Break-even
- never at this rate
Slippage from Bybit: live order book, 64 min ago; OKX: live order book, 64 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 Bybit live order book, 64 min ago | 7.45 bp | 125.6 bp −$126 | 237.1 bp −$2,371 | doesn't fit | doesn't fit |
| Sell OKX live order book, 64 min ago | 8.09 bp | 93.8 bp −$94 | doesn't fit | doesn't fit | doesn't fit |
FWDI on 7 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 | |
|---|---|---|---|---|---|---|---|---|
| Bitget FWDIUSDT | −0.0957% | 8h | 8.0490 | +0.099% | $428K | $176K | 5x | as long as short |
| Binance FWDIUSDT | −0.0457% | 8h | 8.0393 | −0.021% | $451K | $1.6M | 10x | as long as short |
| OKX FWDI-USDT-SWAPshort | −0.0401% | 8h | 8.0290 | −0.149% | $319K | $246K | 10x | |
| Variational Omni FWDI | −0.0190% | 8h | 8.0381 | −0.036% | $114K | $2K | — | as long as short |
| Bybit FWDIUSDTlong | −0.0111% | 8h | 8.0410 | long leg | $360K | $304K | 25x | |
| QFEX FWDI-USD | 0.0000% | 1h | 8.0700 | +0.361% | $1.1M | $377K | 10x | as long as short |
| HTX FWDI-USDT | 0.0000% | 8h | 8.0400 | −0.012% | $7K | $63K | 10x | as long as short |
Bitget FWDIUSDT
Binance FWDIUSDT
Variational Omni FWDI
QFEX FWDI-USD
HTX FWDI-USDT