Funding you earn now, next payment 08:00 UTC−0.0349%/8h= −38.2% APRnext payment −$3.49 per $10,000 · paid last 24h +0.013%
Price spread now: Bybit against OKX+0.174%7-day average +0.088% · you sell dearer than you buy
Net, funding: paid 7d − costs−$442as in the Funding arb table
Net, price: spread back to 7d avg − costs−$437as in the Price arb table
costs, in and out, $10k−$4454.452% of the position
Funding, last 7 days+0.033%+$3 on $10k
+Price spread, last 4 days (all we have)−0.184%−$18 · spread now +0.174%, 7d avg +0.088%
=The price spread pays, funding is against you. Bybit is 0.085% dearer against OKX than usual: you sell high and buy low (spread +0.174% now, against its 7-day average of +0.088%): +$9 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 20 hours.
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 −$3.49 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 | OKX FWDI-USDT-SWAP | 8.0610 | −0.0150 | get 0.0150% / 8h | 3h 22m | $320K | $244K | 10x |
| Short | Bybit FWDIUSDT | 8.0750 | −0.0499 | pay 0.0499% / 8h | 3h 22m | $363K | $306K | 25x |
OKX FWDI-USDT-SWAP
Bybit FWDIUSDTFunding 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$73.19
- Price spread: +0.174% → +0.088%
- $8.53
- Slippage, 4 orders
- −$424.23
- Fee OKX: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$509.9
- Costs to cover
- 4.452%
- Break-even
- never at this rate
Slippage from OKX: live order book, 28 min ago; Bybit: live order book, 27 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, 28 min ago | 6.81 bp | 96.6 bp −$97 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bybit live order book, 27 min ago | 8.03 bp | 152.3 bp −$152 | 226.5 bp −$2,265 | 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 | −0.1266% | 8h | 8.0850 | +0.298% | $430K | $178K | 5x | as long as short |
| Bybit FWDIUSDTshort | −0.0499% | 8h | 8.0750 | +0.174% | $363K | $306K | 25x | |
| Binance FWDIUSDT | −0.0363% | 8h | 8.0741 | +0.163% | $456K | $1.8M | 10x | as long as short |
| Variational Omni FWDI | −0.0326% | 8h | 8.0730 | +0.149% | $113K | $121K | — | as long as short |
| OKX FWDI-USDT-SWAPlong | −0.0150% | 8h | 8.0610 | long leg | $320K | $244K | 10x | |
| QFEX FWDI-USD | 0.0000% | 1h | 8.0500 | −0.136% | $1.1M | $425K | 10x | as long as short |
| HTX FWDI-USDT | 0.0000% | 8h | 8.0750 | +0.174% | $7K | $62K | 10x | as long as short |
Bitget FWDIUSDT
Binance FWDIUSDT
Variational Omni FWDI
QFEX FWDI-USD
HTX FWDI-USDT