Funding arb · Price arb /

IWM

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: OKX against Gate−0.011%7-day average +0.073% · you buy dearer than you sell

Net, funding: paid 7d − costs−$254as in the Funding arb table

Net, price: spread back to 7d avg − costs−$262as in the Price arb table

costs, in and out, $10k−$2542.536% of the position

Long on Gate Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)+0.159%+$16 · spread now −0.011%, 7d avg +0.073%

Together, before fees+0.159%+$16 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: OKX is 0.084% cheaper against Gate than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of +0.073%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate IWM_USDT	284.99	0	get 0.0000% / 8h	7h 47m	$601K	$161K	20x
Short	OKX IWM-USDT-SWAP	284.96	0	get 0.0000% / 8h	7h 47m	$437K	$158K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Gate. 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 GatebpFee OKXbpOrdersPrice spread, now −0.011%Rate

Funding earned: $0
Price spread: −0.011% → +0.073%: −$8.4
Slippage, 4 orders: −$228.62
Fee Gate: 7.5 bp × 2 orders: −$15
Fee OKX: 5 bp × 2 orders: −$10
Net: −$262.01
Costs to cover: 2.536%
Break-even: never at this rate

Slippage from Gate: live order book, 49 min ago; OKX: live order book, 48 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 Gate live order book, 49 min ago	7.70 bp	16.9 bp −$17	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 48 min ago	7.00 bp	12.5 bp −$12	doesn't fit	doesn't fit	doesn't fit

IWM on 17 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 IWMUSDT	0.0000%	8h	284.86	−0.047%	$2K	$221	20x	as long as short
Bybit IWMUSDT	0.0000%	8h	284.79	−0.070%	$560K	$70K	25x	as long as short
OKX IWM-USDT-SWAPshort	0.0000%	8h	284.96	−0.011%	$437K	$158K	20x
Gate IWM_USDTlong	0.0000%	8h	284.99	long leg	$601K	$161K	20x
Bitget IWMUSDT	0.0000%	8h	284.91	−0.028%	$441K	$15K	20x	as long as short
Variational Omni IWM	0.0000%	8h	284.97	−0.008%	$169K	$217K	—	as long as short
GRVT IWM_USDT_Perp	0.0000%	8h	285.07	+0.028%	$485	$102K	10x	as long as short
SunX IWM-USDT	0.0000%	8h	284.85	−0.049%	$667	$461K	10x	as long as short
HTX IWM-USDT	0.0000%	8h	285.15	+0.056%	$542	$38K	20x	as long as short
Phemex IWMUSDT	0.0000%	8h	284.94	−0.018%	$764K	$83K	10x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter IWM	+0.0032%	1h	284.93	−0.021%	$74K	$19K	10x	as long as short
Markets by Kinetiq mkts:SMALL2000	+0.0046%	1h	284.68	−0.109%	$564K	$358K	20x	as long as short
Vest IWM-USD-PERP	+0.0046%	1h	284.72	−0.095%	—	$1K	25x	as long as short
BloFin IWM-USDT	+0.0069%	8h	284.99	0.000%	$67K	$33K	20x	as long as short
Binance IWMUSDT	+0.0082%	8h	284.92	−0.025%	$1.1M	$1.2M	20x	as long as short
MEXC IWM_USDT	+0.0083%	8h	284.92	−0.025%	$880K	$83K	50x	as long as short
KuCoin IWMUSDTM	+0.0100%	8h	285.08	+0.032%	$142K	$910K	20x	as long as short